Re:Millions of Americans skipping payments as wave of defaul...
by 6510 on Thursday June 04, 2020 @03:42AM
(#23413793)
Think lease-to-buy. That way the tenant has skin in the game. MY house was a school project. It was absurdly cheap to build as the construction workers had to pay to build it. If you account for market value the rent paid for the place 4-5 times by now. If you only take the original construction cost + maintenance its been paid for an absurd number of times, so many times over that I don't want to think about it.
We can at least lower the rent down to zero over [say] 40 years but it would be more reasonable to make the tenant the owner after he paid for the place 3 times over.
Re:Millions of Americans skipping payments as wave of defaul...
by asah on Thursday June 04, 2020 @04:38AM
(#23414177)
The rent would have to increase a lot - why not just take the extra money, invest it and save for a down payment? Much faster than 40 years, tenant can live anywhere and there's no financial entanglement between landlord and tenant along the way.
If forbidding renting properties to tenants would solve problems, I would be on your side.
People will always need to rent. A society has to allow them to without allowing them to be exploited. But once you allow renting, you have to protect property owners from tenant caused damage as well.
I'm not saying we're there - we may be far from it. But renting is not only useful, it is necessary.