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Old 02-21-2023, 04:39 PM   #580
Cecil Terwilliger
That Crazy Guy at the Bus Stop
 
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Join Date: Jun 2010
Location: Springfield Penitentiary
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Before we even consider changing building codes or worrying about building more homes, we need to deal with how inaccessible existing housing is.

You can build more homes but if the only people buying them are the wealthy, who then create artificial scarcity which puts more demand on the market, plus increases already outrageous rental prices, then we’re no further ahead.

What needs to happen first is the government needs to remove all tax advantages to rental properties. Make gross rental income fully taxable with no deductions. Then charge increasingly higher tax rates the more properties owned. We need to make home ownership more accessible using the inventory already there.

Then mandate all new construction of condo low/high rises be at least 50% for sale to the public. No more corporate owned condo towers. The subscription model is permeating every facet of our lives and we need to take steps to stop it.

Then we can worry about building more. Of course, none of the above will ever happen because, as was already alluded to above, homeowners, politicians and the ultra rich benefit the most financially from the status quo. Making home ownership accessible would be a massive disruption to wealth generation for property hoarders and the rich.

Last edited by Cecil Terwilliger; 02-21-2023 at 04:44 PM.
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