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L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
(www.latimes.com)
this post was submitted on 09 Jun 2024
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Yay? Maybe then it could be sold to people who are desperate to get off of the rental merry-go-round.
As in, these homes will be owned by people who actually live in them; non-parasites who aren’t going to be sucking the lifeblood out of hard-working, working-class Americans.
And maybe instead of being landlords, these parasites could actually go out and get a job?
Sounds like we don't only need to cap increases at 3%. We also need to give loan assistance programs so the people currently living there can capitalize on the sudden availability. Otherwise, you get into the situation of "I'm spending $2000 on rent now, the mortgage + escrow payment on the same property would be $1500, but the bank says I don't qualify".
If you can't buy it while renting today, you won't be able to buy it tomorrow when your landlord sells it. The house will be bought by a corporate investor and you'll get fucked. Just like it's happening in the UK right now. Prepare for mass homelessness.