Re:Universal Basic Income is Capitalism 2.0
by jay_kyburz on Thursday July 30, 2020 @02:52AM
(#23995382)
Gradually increase tax on rental income until its undesirable to own property you don't live in.
[ Parent
| on HN ]
Re:Universal Basic Income is Capitalism 2.0
by lovetocode on Thursday July 30, 2020 @07:04AM
(#23996754)
You are assuming people actually make money on rental properties. I have had 3 rental properties and you don’t make a profit until the mortgage is paid off which is practically never. What you propose would hurt more people than it helps.
It's disingenuous to claim you are not making money as landlord.
You are building equity - maybe your monthly profits are 0 early on, but your total value is increasing m/m. You can sell your rental property once your mortgage is paid off. If you back calculate your monthly profit is essentially ~ (selling price) / months owned.