Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt
by mywittyname on Tuesday November 02, 2021 @03:40PM
(#29086425)
Well, up until renters can't afford it.
Raising property taxes on SFH rentals, but not apartments will make apartments more attractive. Sure, renting a house has advantages, but those advantages have a price, and how many renters are going to be willing to pay 40% more per square foot for a SFH over an apartment.
At some point, even an expensive mortgage is a better deal.
Apartments are great, we should incentivize apartments. They are high density and can be built in a variety of sizes.
Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt
by pc86 on Tuesday November 02, 2021 @04:52PM
(#29087197)
Apartments are great, unless you want a yard, a large family, to let your parents[-in-law] move in so you can take care of them, a large dog, more than two cats, more pets than the property owner has arbitrarily decided to allow, equity, a barbecue, frequent parties, or the ability to not have to pay rent or a mortgage someday. Buying apartments is not the norm, nor are ones large enough for a family with more than 1 or 2 kids.
Scale it per property === take the average of taxes / homes, pass it along to the renter.
About the only way I can the cost not getting passed to the renter is for a "the government" to set the rental prices as if the home was under a rolling 30-year mortgage, taking into account PITI. Adding a property tax on top of that ONLY to the property owner, maybe exponentially per property owned, could curb companies like Blackrock.
That being said, I have very faith that a "the government" could do this efficiently/correctly/at all. Trying to trace down umbrella corps and whatnot would be cat and mouse. The US government can't even figure out who is cheating on their taxes as it stands.