853
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
853 points (98.4% liked)
News
22625 readers
4260 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Landlords will complain every time any government, local, regional or national, attempts to regulate their bullshit, and plenty of people will rush in to take their side because they see themselves as temporarily embarrassed ghouls. Tax them to hell and back.
Even beyond that, there's little understanding of landlordism as a patronage system. "Oh, that person just saved up a bunch of money to buy a second property and then spends a lot of time and energy maintaining it, so they deserve a profit!" is just people regurgitating real estate propaganda.
You're not describing the lion's share of properties owned by hedge funds, wherein cheap access to low interest debt gives a handful of mega-banks and billionaires the ability to gobble up 40%+ of outstanding real estate. You're not describing the process of slumming a neighborhood through deliberate public-sector disinvestment, before forcing people out through petty fines and over-policing until you can snatch up the real estate on the cheap at public auction or estate sale. You're not discussing how red-lining and eminent domain can be used to shrink housing supplies by limiting who has access to which schools or public utilities. Or how tax incentives can be used to drain off public funds for profit-chasing private sector enterprises.
Even before you get into the delusional would-be landlord, you've got this enormous network of socio-economic back slapping and dick jerking that is fundamental to the creation of a landlord class that we simply don't talk about.