• ArbitraryValue@sh.itjust.worksEnglish
    31·
    6 months ago

    In a market with expensive housing, that would have effects similar to simply making renting illegal: a dramatic drop in property values, conversion of multi-unit rental properties into condos, and no apartments available for rent anywhere that isn’t a slum. I suppose it would be good for home-buyers, since people owning (former) rental properties would be desperate to sell, but it wouldn’t be good for renters.

        • RusAD@lemm.eeEnglish
          3·
          6 months ago

          And take a wild guess about why they don’t have that money

        • SeattleRain@lemmy.worldOPMEnglish
          1·
          6 months ago

          It wouldn’t take lots of money of there were no landlords. The average home takes only 300 labor hours to build. Homes are expensive because of the rent can pull in, not because they’re expensive to build.