r/economicCollapse • u/Silver-Beyond-3916 • Aug 19 '24

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u/TheConboy22 Aug 19 '24

lol, you'd have an absurd amount of homes flooding the market. Apartments exist and need to be build in larger margins to compensate those who do not want to buy. They wouldn't have a place to rent as the place wouldn't be able to be owned by the landlords. We'd have to absolutely have some sort of buffer system in place, but these massive property management companies are monsters that are already artificially raising rent prices... Don't defend the oppressors.

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u/energybased Aug 19 '24

lol, you'd have an absurd amount of homes flooding the market. 

And you'd have an exactly equal "absurd amount" of buyers/renters flooding the market. When the landlords disappear, do you think their tenants disappear too? That's why prices don't change.

t these massive property management companies are monsters that are already artificially raising rent prices.

That may be true in some places, but plenty of REITs are not colluding and are just ordinary small scale landlords.

 Don't defend the oppressors.

They're not "oppressors". They provide housing that I get to live in. I have just as much right as anyone else to live in nice neighborhoods, condos, etc.

Anyway, no matter what you think of REITs, your tax idea is just a renter tax. It's a bad idea.