Yeah, I guess I hope that this doesn’t cause them to jack up the rent so they can ensure they recoup their investment within 7 years. That would probably be an unintended consequence

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Anonymous #2 27w

So how badly would this backfire, in your opinion?

1

Anonymous OP 27w

Catastrophically

1

Anonymous OP 27w

The only way to lower housing costs is to increase supply. These measures will do the exact opposite

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Anonymous #2 27w

Welp 💀

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Anonymous #2 27w

That is not the only way. We need measures like this to be taken, there is a huge problem with super rich people buying up all the homes in the area and jacking up the prices due to lack of competition in the area

0

Anonymous #3 27w

Lack of competition is lack of supply

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Anonymous #2 27w

So you’re saying that you think that people buying up all the houses in an area and artificially raising prices is not an issue?

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Anonymous #3 27w

If there were more supply they wouldn’t be able to do that. I’m sure that may be a problem in some particularly small and constrained markets, but on a national basis institutional investors own like 1% of single family homes.

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Anonymous #2 27w

okay so then why would there be such a strong consensus on passing this bill

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Anonymous #2 27w

Saying lack of competition is lack of supply just doesn’t make sense. do you not think monopolies are an issue??

1

Anonymous #2 27w

like are you arguing that monopolies can’t exist, i am so lost

1