Re:New Zealand Passes Law to Crack Down on Foreign Home Buyers
by ben_w on Wednesday August 15, 2018 @02:55PM
(#17768702)
I own property which is currently collecting rent.
The rent is set by the market — if I charged a million bucks a month (it’s a one bed flat) it would be empty.
No matter what my costs are, the number chosen by my agent has to be both “as high as possible” and “no higher”.
I do know the government can mess up and if you Google “rent controls” the standard downsides there are real problems if the government goes too far — but there is room to improve the current unreasonable (in my favour) mess.
The rent is set by the market — if I charged a million bucks a month (it’s a one bed flat) it would be empty.
No matter what my costs are, the number chosen by my agent has to be both “as high as possible” and “no higher”.
I do know the government can mess up and if you Google “rent controls” the standard downsides there are real problems if the government goes too far — but there is room to improve the current unreasonable (in my favour) mess.