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as well as condemning (their) imperialism, even if it is of the "anti-USA" flavor.
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The only dangerous minority is the rich.
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ID: A Sophie Labelle 4 panel comic featuring Stephie in different poses, saying:
Landlords do not provide housing.
They buy and Hold more space than they need for themselves.
Then, they create a false scarcity and profit off of it.
What they're doing is literally the opposite of providing housing.
Corporate landlords specifically.
Single Family Houses – The 5 Biggest Buyers In America
As SFH investors and property managers we may find ourselves bidding on the same property as a major fund. You might get a call from a fund that wants to buy your portfolio. You could end up partnering with a fund as its local operator. You never know.
Phoenix was the first city that had just about all the major private equity firms investing in single family houses. Private equity helped drive prices in Phoenix up by 34% as you can read about in this Bloomberg article here. The next city that attracted just about all the major private equity firms was Atlanta GA. Other popular markets are CA, Chicago and Florida. PE firms are looking for markets that have experienced the biggest bubbles that have resulted in the biggest swings in values.
We call those non-linear markets. The goal is to hold properties as rentals and wait for a housing recovery. These funds are averaging about an 8% return on investment where most major multi-family / apartment funds return about 5 or 6%. Linear markets like Tulsa OK, Louisville KY, Indianapolis IN, Fort Worth TX, Columbus OH, and Kansas City have been some what over looked by the biggest players. However, there are plenty of funds coming into the linear markets with up to $50 million (which is considered a small fund) to spend on houses.
Ok but where's the punchline? Why is this even a comic?
Not all sequential art is meant to be funny.
Side note: One of the best non-fiction books of all time is Understanding Comics by Scott McCloud.
I don't understand how would a 100% land tax work? If you own a 300k house you'd have to pay 300k in taxes every year? So basically making housing unaffordable except for the ultra rich?
Also why would anyone build apartments if they weren't going to make a profit? What's the incentive? No one would do anything if they couldn't make money doing it.
If landlords are bad or too expensive why not move, another building another state another lower cost of living area? Agreed rents are super high but that's mostly in dense urban areas. You're paying a premium for location.
I'm really not seeing any honest answers here about how to fix this problem. Besides the government should provide everyone free housing? How would that work how would you decide who gets to live where? Who gets the apartment on the lake vs next to the airport/oil refinery?
Like I get it housing is expensive but I haven't seen anything here that would actually help fix that? Ironically more landlords and more apartments would probably help.
Why not just move? Yeah I'm gonna tell my childrens mother that I'm taking off. Just can't afford this shit anymore, sorry. Then get hit with the inevitable child support payments that will end you up in jail in no time anyway.
Just toss all that shit aside and move somewhere rural and shitty so you can afford it! (Oops, forgot to mention that pay is also significantly lower now so you still can't afford anything )
so are you advocating for zero private ownership of houses?
like what's the policy proposal?
I do kind of like that other comment, " nobody gets a second house until everybody gets their first".
All of it should be public property.