Re:California Man Fined $1k for Drawing Lines on Maps
by robertlagrant on Friday October 14, 2022 @05:47AM
(#33201472)
I don't know why you'd want a system where a rich person can take the land your house is on if they can pay £1 more than you for it every so often, unless you're a fan of the feudal system.
I also don't see how it discourages speculative investment. If nothing you own is really yours for very long then you're much more likely to have your property bought from under you if it's in a desirable area. As an investor I would want to do that if I believe I could rent it out at a profit.
Best of both worlds. You discourage real estate speculative and hoarding for rent seeking purposes and still have the free market competition determining the prices.
Once your lease is up you can renew it at current market prices if you want it and can afford it. If not, then you make way for someone else to take up the lease.