General Discussion
In reply to the discussion: Why not outlaw landlordism? [View all]GitRDun
(1,846 posts)Speculating on homes ends, but so does recycling old homes.There are thousands of people who make a living buying somewhat beat up homes, fixing them up and selling them. Without the backstop of being able to rent if something happens and the house doesn't sell, this business disappears. Most individuals don't have that kind of capital to risk.
The cost of owning a home is more than just selling price. What you save a homeowner in capital will be made up for in property taxes, insurance, repairs, maintenance. Just because property values are down, does not mean your property tax bill goes down. Cities, counties have a nut to cover. They'll just raise tax rates to cover their costs if values go down.
Zoning laws prevent owners from operating a business that employs people in most cases so that use does not work.
Lots of people like to rent. Your laws will just drive the rental market underground. Drinking age is 21. Kids drink anyway. Then tenants will be in a worse situation because in order to stick up for themselves, they would be admitting criminal wrongdoing. Worse, they may just move on to the next dark lord.
My conclusion? We're far better off with mandatory city inspections than no renting at all.