Microblog Memes

Some people want to rent (e.g., young people, people with mobile jobs, or people who just aren’t ready to be tied down to one place).

And I don’t have a problem with a small-time property owner renting out a house at a fair rate. In theory it’s a win-win: the renter gets a place to stay, the landlord builds equity in their property.

The issue we have is two-fold:

1. Companies buying up massive amounts of property (not just a house or two, but thousands) and turning entire neighborhoods into rent zones, driving out any competition and availability of housing to buy, thereby driving up prices.

2. Price collusion amongst these companies, driving up rent far above fair rates, using these software services that share going rates across markets. That reduces consumer choice.

Barring a really interesting solution, like a Land Value Tax or something, my proposal to remediate this housing problem is rather straight-forward and simple:

1. Prohibit these software companies from sharing rental rates info to customers. Landlords just need to figure it out in their own markets the old fashioned way.

2. Prohibit corporations from buying housing with the intention to rent it. Force these corporations to sell their housing and get out of the landlord business.

3. Allow individuals to hold property for renting out, but cap number of properties a person or household can own for the express intention of renting out to five at any given time. That allows a person to build up a nice little savings nest, and provide a rental property to someone who wants to rent, but doesn’t allow anyone to dominate a housing market. Look for those massive profits elsewhere - start a business that creates and provides value.

Anyway, one can dream, I guess.