"We have seen corporate landlords—who own a larger share of the rental market than ever before—use inflation as an excuse to hike rents and reap excess profits beyond what should be considered fair and reasonable."
    • cjsolx@lemmy.world
      5·
      1 year ago

      Why would anyone renovate a property if it’s just gonna sit on the market out of reach of potential customers? I would hope that investors would be smarter than that. Like we’re saying, homes should be for living, not for investing. If there’s no pressing need to renovate, then great. Don’t. Whoever wants to buy it as is now can. And if they want to they can renovate what they want at their own pace.

    • CaptObvious@literature.cafe
      25·
      1 year ago

      Fair point. So we cap profit at 10% above purchase price, and hit the renovators with 90% taxes if the home hasn’t sold in, say, six months.

      • nednobbins@lemm.ee
        2·
        1 year ago

        We could. Why would anyone want to make those investments once we’ve cut off all their profit potential?

        Investors chase profits. We can cut off their profits but when we do that 2 things happen; some of them just leave the industry and some of them break the law to try to get around the regulations. Almost nobody just eats the loss and continues investing.