this post was submitted on 30 Jan 2024
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I think the difference with the first 5 is that a manufacturer sets the price, scalpers purchase it by that price and sells it at a much higher one.
The house price just fluctuates continuously and when the "investor" or "scalper" purchases it, it was available at that price for everyone (or did he purchase it from another scalper?)
Yes, the problem is the high prices of houses, but to reduce it we need to either increase supply (encourage building more, perhaps changing zoning laws to allow more homes etc) or reduce demand (increase interest rates (that though make it harder for regular people), restricting corporations from purchases, banning Airbnb (yes, they drive prices up, and if you use them, you are contributing to it), penalizing if unit is not occupied (though enforcement of this will be hard), or banning foreign investors.
Agreed, we should be doing all of those things. Corporations should not be able to own any kind of housing at all, and multi unit buildings should be under non-profit co-ops.
And to penalize unoccupied housing, we should have a georgist taxation system.
The only time it makes sense for me for a corporation to own a residence is if they have a need to put up their own employees in that area regularly, or if I needed a manager living on site (like some storage facilities have). Corporations should not make their money renting or buying/selling single family homes.
I don't think there are enough such edge cases for it to make sense for it to be legal.
If a corp needs an employee to be that close, then they should hire local, and/or rotate staff.
At a bare minimum, I agree, no corp should profit off of housing.