Comment by JamesBarney
Comment by JamesBarney 7 hours ago
Say tomorrow we outlawed being a landlord. Every multi-family and apartment unit would be demolished and turned into SFH, or sold off as condos.
And everyone would have to live with parents or friends until they could afford a down payment. That sounds like a worse world than the one we live in.
Why wouldn't they just convert to owner-occupied apartments?
There's an argument to be made about affordability, but there are a lot of arguments against paying someone else, for which you receive no equity, and they get to keep any price appreciation of the property.
It'd be interesting to see a rental market that banned anything but rent-to-own contracts, where some portion of your monthly rent had to buy equity in the property you occupy. (With standardized terms for disposal, sale, etc)