Comment on Owing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you
They can just increase rents then?
So rent is several times more expensive than a mortgage on the same property. Now what?
Now you pay the ridiculous rent because blackstone just buys up entire neighborhoods already, might as well buy up entire towns.
Why? You can just force them to sell you a property and pay less on the mortgage than they pay on the same property on taxes.
Technically yes, but the problem is that they can afford to hold their investments in many small companies so they won’t even have to pay that much tax.
Just adding government oversight for this idea is going to be a costly nightmare.
SoulWager@lemmy.ml 1 month ago
So rent is several times more expensive than a mortgage on the same property. Now what?
boonhet@lemm.ee 1 month ago
Now you pay the ridiculous rent because blackstone just buys up entire neighborhoods already, might as well buy up entire towns.
SoulWager@lemmy.ml 1 month ago
Why? You can just force them to sell you a property and pay less on the mortgage than they pay on the same property on taxes.
boonhet@lemm.ee 1 month ago
Technically yes, but the problem is that they can afford to hold their investments in many small companies so they won’t even have to pay that much tax.
Just adding government oversight for this idea is going to be a costly nightmare.