If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
If you pay 1% for one house, someone with 2 houses should pay 2%, and a company with 2000 homes should pay 2000%
That would make it increasingly difficult for mega companies to buy up everything and torture the housing market
Companies shouldn’t be allowed to own housing
I’d add a couple short-term exceptions: Construction companies may own housing during construction and for the amount of time it takes for newly built homes to sell to resident owners. Banks, credit unions and such should be able to foreclose on defaulted mortgages and take possession of the property for a certain amount of time, if it’s not sold within that time it goes to government auction.
They should not be allowed to retain ownership over mass amounts of occupied dwellings.
Denser housing like apartment blocs may need to work like condos, residents either outright own their portion of the building or become stakeholders in the building’s corporation, how to do that without inventing the turbo HOA will require further research and development.
Or other companies.
I always thought “if corporations are people, then why can they own other corporations”