Re:California will pay off all past due rent
by mandelbrotwurst on Tuesday June 22, 2021 @05:24PM
(#27597413)
If all of the properties owned by small scale landlords are converted into properties owned by large scale ones, you’re going to end up with more income inequality.
It also probably pulls wealth out of the local area, depending on where the owners of those larger corporations are.
Re:California will pay off all past due rent
by beerandt on Tuesday June 22, 2021 @05:21PM
(#27597381)
>why is making sure rich people stay rich so important again?
Why is enforcing legal contracts so important?
Besides being one of the very primal functions of a working government.
Re:California will pay off all past due rent
by annexrichmond on Tuesday June 22, 2021 @07:13PM
(#27598539)
What exactly makes you think that all local landlords are getting rich? It is how some people chose to invest their money, just like how you might have chose to invest into the corporate landlords that you think are so much better.
These types of businesses are building wealth for the owner, sure; but no one is "getting rich" from owning a couple apartments. Maybe we have different definitions of rich.
I would rather give ~$500 a month in profit to a member of my community, than a national chain. I think it's odd to be against "the rich staying rich" while shrugging your shoulders at corporations throwing their weight around in the rental market.
In my experience, landlords are often a pretty toxic element in local politics (opposing upzoning, opposing progressive policies in general.) IME as a renter corporate landlords were not really better or worse than small-time landlords. At least with the corporate landlords, I can buy shares in the company and reap some of the rewards back. Even better, the government could buy shares through a social wealth fund, and return some of the profits to the whole of society.