this post was submitted on 28 Jan 2024
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me_irl
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No that won't fix it. Not completely anyway. All houses are being bought up by international multi billion dollar investment firms who then proceed to rent out those houses for more than they're worth, driving up rent prices. Here in Vancouver, Canada, rent prices are beyond ridiculous, and have nothing to-do with what the units are actually worth. If you want to stop that, prohibit companies from owning houses, dead stop. Increase taxes on second, third, and fourth houses exponentially, making it only interesting for a single person to have one, maaaaybe two houses.
With that, houses will become eligible to buy again at normal prices
I mean I was looking out a window in seattle the other day and at least half the rooms in buildings I could see looked empty. I do think there needs to be more laws to punish landlords that have too many vacant units as well.