Zach WeinersmithStupid econ question:
So it looks like a lot of remaining inflation is rent. In that case, wouldn't you want to lower rates to increase home-building and home-ownership in order to reduce rent pricing?
Palmer@ZachWeinersmith realistically interest rates do not benefit affordability by the masses. If they're low, properties are bought up by those with capital. If they're high, they are rented at exorbitant rates.
We need laws that discourage and tax multiple ownership. Then use those taxes to subsidize housing costs.
Instead the US further reinforces its poverty class system.
The Sneak@JPalmerGD @ZachWeinersmith I think this is the way. Companies should be taxed at increasing rates depending on how many units they and their subsidiaries own. That would strongly discourage this sort of monopolistic behavior.
We'd also need to enforce the laws against colluding with other companies to raise rents.
But if we managed to do that I think it might be transformational...
@sneako *looks at the RealPage lawsuits*
That price fixing company should be bankrupted.