Hacker News

4123 readers

2 users here now

This community serves to share top posts on Hacker News with the wider fediverse.

Rules

0. Keep it legal

Keep it civil and SFW
Keep it safe for members of marginalised groups

founded 2 years ago

MODERATORS

haxor@derp.foo

Americans Must Earn $114,000 a Year to Afford a Typical Home (www.bloomberg.com)

submitted 2 years ago by haxor@derp.foo to c/hackernews@derp.foo

16 comments fedilink hide all child comments

There is a discussion on Hacker News, but feel free to comment here as well.

you are viewing a single comment's thread
view the rest of the comments

[–] lemming934@lemmy.sdf.org 3 points 2 years ago (2 children)

Corporations owning land is the current way many young / low income people get housing.

Renting is cheaper for people that might move in ~5 years. Moving citys is an important way to gain income.

I think baning cooperate ownership of "residential land" would be another government handout to owners at the expense of renters. Id prefer policies that increase housing supply instead. For example, investment in nonmarket housing, and permitting reform favoring infill development.

[–] Squizzy@lemmy.world 3 points 2 years ago (1 children)

I'm not banning landlords I'm banning vulture funds, pension funds, agencies, conglomerates, multinationals etc. from owning homes.

This makes for less competition in buying homes for those people, allowing for prices to stay realistic. So you can buy two houses if you want, though I'd tax the shit out of you for the second and subsequent houses.

Also if you weren't competing with corporations rents would be lower, but you could buy a house and sell again in five years when you move on.

[–] lemming934@lemmy.sdf.org 1 points 2 years ago

I’m not banning landlords I’m banning vulture funds, pension funds, agencies, conglomerates, multinationals etc. from owning homes.

I guess i missunderstood you. As far as I've seen, vacancies are quite low in places where housing is scarce. Investment properties are usually rented out.

would be lower, but you could buy a house and sell again in five years when you move on.

Closing costs are very high. It would be difficult to make housing cheap enough that the benifits to owning a home outweighs these costs. Also, you would need to sell the house quick, so that you don't pay for two houses at a time. But if housing was no longer scarce, it would be hard to sell the house quick.

I cant imaging a future where it makes sense for everyone to own their own home. We should always consider renters when making public policy, even though they have little political power.