Wait. It’s possible to actually own a house? I thought only boomers were allowed to. I checked what mortgage I could get. I’m able to purchase a parking spot.
A concession to vacation homes. So long as there are enough homes for everyone, I see little problem with it. Restoring the wilderness and everyone learning to camp would be better.
If only residential rents really were capped at $1, what do you think would happen? In this scenario, I’m assuming it’s limited to one per household. That is, a family or individual can’t rent multiples at $1, just the one.
The rental market immediately dries up as everyone with the ability to move into a rental place does so. Owners of apartments and rental houses immediately divest at the earliest possible time since properties are no longer lucrative. In the meantime, they fail to put any effort into the pretense of basic upkeep except whatever makes their rentals sellable.
The market becomes immediately saturated with previous rental properties now available for individual sale and high supply lowers cost dramatically. The idea of sunk costs makes owners unlikely to sell at rock bottom prices so apartment complexes and the like go out of business, evict everyone and sell their copper from their air conditioners to modestly recuperate the last few months of expenses (water, electricity, leading office staff, etc) and burn them down for insurance money. Single family homes are donated for the use of younger relatives until the market recuperates enough to sell.
It’s a wild ride for about $24 worth of months for all renters, then, ultimately, the price of housing comes down but renting is no longer a “thing”. Some renters can now afford to buy their own houses (Yahoo!) but without changing the pay structure of society, the most vulnerable of wage workers are now homeless (Crap).
That sounds about right. Thanks for the thorough response. I wonder if, in that scenario, the government offered a bailout to convert to condos, it would help at all to prevent housing recession.
Rent.
Make cents
Nice. Here, have a penny for your thoughts.
Maybe :3
Fuck rent. Home ownership. And 2 homes max.
Wait. It’s possible to actually own a house? I thought only boomers were allowed to. I checked what mortgage I could get. I’m able to purchase a parking spot.
Why would you need 2 houses?
A concession to vacation homes. So long as there are enough homes for everyone, I see little problem with it. Restoring the wilderness and everyone learning to camp would be better.
I’ll go a step further and say residential property.
RIP rentable apartments
Ok, you get a maximum of 1 sqr feet for that and no paying for a bigger flat.
Feet? I’m not Tarantino
This is a huge win for tiny contortionists.
If only residential rents really were capped at $1, what do you think would happen? In this scenario, I’m assuming it’s limited to one per household. That is, a family or individual can’t rent multiples at $1, just the one.
The rental market immediately dries up as everyone with the ability to move into a rental place does so. Owners of apartments and rental houses immediately divest at the earliest possible time since properties are no longer lucrative. In the meantime, they fail to put any effort into the pretense of basic upkeep except whatever makes their rentals sellable.
The market becomes immediately saturated with previous rental properties now available for individual sale and high supply lowers cost dramatically. The idea of sunk costs makes owners unlikely to sell at rock bottom prices so apartment complexes and the like go out of business, evict everyone and sell their copper from their air conditioners to modestly recuperate the last few months of expenses (water, electricity, leading office staff, etc) and burn them down for insurance money. Single family homes are donated for the use of younger relatives until the market recuperates enough to sell.
It’s a wild ride for about $24 worth of months for all renters, then, ultimately, the price of housing comes down but renting is no longer a “thing”. Some renters can now afford to buy their own houses (Yahoo!) but without changing the pay structure of society, the most vulnerable of wage workers are now homeless (Crap).
Or something, idk.
That sounds about right. Thanks for the thorough response. I wonder if, in that scenario, the government offered a bailout to convert to condos, it would help at all to prevent housing recession.
Per square feet?
My feet have a normal foot form, not square. That seems impractical.