Individuals owning a single rental property aren’t really the problem here. Many individuals and small groups own dozens of LLCs and REITs each with their own residential properties. Many corporations own multiple thousands of residences.
Freeing the residences from the clutches of the corporate interests would make such a huge impact that the real estate prices would normalize. At least temporarily.
My point wasn’t that you can’t have a rental home, it’s that you shouldn’t stop the increase in tax rate at 3. If you want to try to have a 4th or 5th you can, you’re just going to be paying an exorbitant property tax rate to the point where viewing real estate as an investment is moronic.
I think you’re misunderstanding my point. Frankly the terms “investment” and “housing” don’t belong near each other in the first place. “Making it similar to other Investments” is still putting those two words way the fuck too close to each other.
Nobody cares if you’re renting out Grandma’s house to pay for her nursing home currently (even though that’s an entirely separate problem that absolutely needs addressing). That’s not what the majority of rentals are.
Individuals owning a single rental property aren’t really the problem here. Many individuals and small groups own dozens of LLCs and REITs each with their own residential properties. Many corporations own multiple thousands of residences.
Freeing the residences from the clutches of the corporate interests would make such a huge impact that the real estate prices would normalize. At least temporarily.
My point wasn’t that you can’t have a rental home, it’s that you shouldn’t stop the increase in tax rate at 3. If you want to try to have a 4th or 5th you can, you’re just going to be paying an exorbitant property tax rate to the point where viewing real estate as an investment is moronic.
I think you misunderstood /u/HappyCamperNZ’s comment
I think you’re misunderstanding my point. Frankly the terms “investment” and “housing” don’t belong near each other in the first place. “Making it similar to other Investments” is still putting those two words way the fuck too close to each other.
Nobody cares if you’re renting out Grandma’s house to pay for her nursing home currently (even though that’s an entirely separate problem that absolutely needs addressing). That’s not what the majority of rentals are.