If they don’t buy the property the supply is higher… meaning prices come down and individuals can purchase at lower costs. They artificially jack up the demand on an equal supply.
That’s only looking at house demand. It’s true as long as you only look at prices for purchasing houses, which is an activity done by relatively rich people. You are indeed helping people with enough wealth to purchase a house.
My point is that the corporations are not just sitting on these houses, they are turning them into rentals. So they are increasing the supply of rentals, lowering the price to rent. And renters are typically poorer than the people with enough wealth to purchase a house.
So the ban would help the relatively richer people and hurt the poorer.
If they don’t buy the property the supply is higher… meaning prices come down and individuals can purchase at lower costs. They artificially jack up the demand on an equal supply.
That’s only looking at house demand. It’s true as long as you only look at prices for purchasing houses, which is an activity done by relatively rich people. You are indeed helping people with enough wealth to purchase a house.
My point is that the corporations are not just sitting on these houses, they are turning them into rentals. So they are increasing the supply of rentals, lowering the price to rent. And renters are typically poorer than the people with enough wealth to purchase a house.
So the ban would help the relatively richer people and hurt the poorer.