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All existing apartments shall begin to be gradually acquired by the government at a fair market value, with one percent of them being acquired each and every year. The government will then charge individuals rent that will be fixed at 20% of the resident's annual income averaged over the previous 5 years. The 5 year average is used to determine the resident's rent because it dissuades him or her from becoming unemployed or taking a low-paying job specifically to secure a low rent, and does not remove the incentive for individuals to earn higher incomes because the rent would increase dramatically. Averaging the rent over 5 years allows such incentives and disincentives to be themselves "smoothed out." Individuals without a five year income history would be required to pay 30% of their income until they met this requirement.
All newly built apartments shall remain privately owned for a period of 30 years, whereupon one percent each year, as the existing apartments above, would likewise be acquired by the government and then rented out at a fixed 20% of the resident's income. Consider it as analogous to intellectual property rights for the development of a new invention. The inventor's exclusive rights to his invention end after 20 years have passed under law. In a similar manner, a builder would have the right to retain ownership for 30 years, whereupon it would devolve to the "public domain of housing."
This process would continue until all of the apartment units across the nation would be owned by the government and rented out in this manner. Once this point is reached, the government would use the incoming rent in order to contract out building projects for new apartments as needed to accommodate the gradually increasing population. As the population leveled out, and the need for funding new building projects declined to approach zero, the government would reduce rents to approach zero. You would have a massive public domain of housing for everyone at zero cost at this point.
When this point is reached, people will be able to have a roof over their heads at essentially zero cost, freeing them to pursue activities without worrying about putting a roof over their heads.
What do you think of this idea? What are its benefits and drawbacks, both as an ideal and in practice? Is this something that has already been tried? Is it politically realistic? What would be the unintended consequences if this proposal were actually implemented?
Thanks,
Jay
The government owing all apartment units is nothing but Communism. The government can not do what it does now effectually ,Juts anothe big government controls our lives idea that has not worked anywhere.
Dumb Idea
All existing apartments shall begin to be gradually acquired by the government at a fair market value, with one percent of them being acquired each and every year. The government will then charge individuals rent that will be fixed at 20% of the resident's annual income averaged over the previous 5 years. The 5 year average is used to determine the resident's rent because it dissuades him or her from becoming unemployed or taking a low-paying job specifically to secure a low rent, and does not remove the incentive for individuals to earn higher incomes because the rent would increase dramatically. Averaging the rent over 5 years allows such incentives and disincentives to be themselves "smoothed out." Individuals without a five year income history would be required to pay 30% of their income until they met this requirement.
All newly built apartments shall remain privately owned for a period of 30 years, whereupon one percent each year, as the existing apartments above, would likewise be acquired by the government and then rented out at a fixed 20% of the resident's income. Consider it as analogous to intellectual property rights for the development of a new invention. The inventor's exclusive rights to his invention end after 20 years have passed under law. In a similar manner, a builder would have the right to retain ownership for 30 years, whereupon it would devolve to the "public domain of housing."
This process would continue until all of the apartment units across the nation would be owned by the government and rented out in this manner. Once this point is reached, the government would use the incoming rent in order to contract out building projects for new apartments as needed to accommodate the gradually increasing population. As the population leveled out, and the need for funding new building projects declined to approach zero, the government would reduce rents to approach zero. You would have a massive public domain of housing for everyone at zero cost at this point.
When this point is reached, people will be able to have a roof over their heads at essentially zero cost, freeing them to pursue activities without worrying about putting a roof over their heads.
What do you think of this idea? What are its benefits and drawbacks, both as an ideal and in practice? Is this something that has already been tried? Is it politically realistic? What would be the unintended consequences if this proposal were actually implemented?
Thanks,
Jay
HMMmmm
Quote:
All existing apartments shall begin to be gradually acquired by the government at a fair market value, with one percent of them being acquired each and every year.
so the 'government' (which government town? county? state? federal?) is going to '''acquire''' at ''fair market value'''...acquire how? at what cost? by force(emement domain)?..and what is '''fair market value''' defined by whom
Quote:
The government will then charge individuals rent that will be fixed at 20% of the resident's annual income averaged over the previous 5 years.
so rent will be by the renters income...not the cost associated with running that appartment (ie real estate taxes, etc)???
Quote:
This process would continue until all of the apartment units across the nation would be owned by the government and rented out in this manner
hmmm total government ownership of all rental realestate.... ...big time socialism there
My in laws immigrated from Eastern Europe in 1950. They rented one room in an apartment with a common kitchen and bath. Other immigrants rented other rooms. They lived like this for years while saving every penny to towards a down payment on their own 3 flat. Once they were able to buy, they rented rooms out to new immigrant families.
They relied on public transportation instead of a car. No TV. Shared party line phone. Used clothing and furniture was good enough. They never dined out. Social activities were limited to church stuff.
Back then 3 and sometimes 4 generations often lived under the same roof. Many had second jobs to make ends meet or to afford discretionary stuff.
Many newly immigrated families continue the tradition of sharing living space while saving or sending money back home.
Here we are today and Apple expects to sell 10 million new I- phones in October. The masses don't bat an eye at $4 cups of fancy coffee.
The masses shop and consume things they don't need and then tend to bemoan how unaffordable housing is.
All existing apartments shall begin to be gradually acquired by the government at a fair market value, with one percent of them being acquired each and every year. The government will then charge individuals rent that will be fixed at 20% of the resident's annual income averaged over the previous 5 years. The 5 year average is used to determine the resident's rent because it dissuades him or her from becoming unemployed or taking a low-paying job specifically to secure a low rent, and does not remove the incentive for individuals to earn higher incomes because the rent would increase dramatically. Averaging the rent over 5 years allows such incentives and disincentives to be themselves "smoothed out." Individuals without a five year income history would be required to pay 30% of their income until they met this requirement.
All newly built apartments shall remain privately owned for a period of 30 years, whereupon one percent each year, as the existing apartments above, would likewise be acquired by the government and then rented out at a fixed 20% of the resident's income. Consider it as analogous to intellectual property rights for the development of a new invention. The inventor's exclusive rights to his invention end after 20 years have passed under law. In a similar manner, a builder would have the right to retain ownership for 30 years, whereupon it would devolve to the "public domain of housing."
This process would continue until all of the apartment units across the nation would be owned by the government and rented out in this manner. Once this point is reached, the government would use the incoming rent in order to contract out building projects for new apartments as needed to accommodate the gradually increasing population. As the population leveled out, and the need for funding new building projects declined to approach zero, the government would reduce rents to approach zero. You would have a massive public domain of housing for everyone at zero cost at this point.
When this point is reached, people will be able to have a roof over their heads at essentially zero cost, freeing them to pursue activities without worrying about putting a roof over their heads.
What do you think of this idea? What are its benefits and drawbacks, both as an ideal and in practice? Is this something that has already been tried? Is it politically realistic? What would be the unintended consequences if this proposal were actually implemented?
Thanks,
Jay
Wow, right out of the Karl Marx, Joseph Stalin playbook. That kind of thing worked really well in the USSR. Hope you enjoy standing in line for toilet paper.
Wow, right out of the Karl Marx, Joseph Stalin playbook. That kind of thing worked really well in the USSR. Hope you enjoy standing in line for toilet paper.
Makes you wonder if the Democrats have gone full blown communist? Republicans aren't much better, but damn...
That's assuming that housing affordability is a big problem outside a few of the largest markets when it's not. Housing is still affordable in most cities for Americans above poverty levels.
Increased wages and allowing increased supply and greater densities will address the problem in the current American system.
That said, in places like San Francisco and Seattle a system where the local governments owns market and sub-market rate housing like they do in Vienna might be part of the solution for workforce and middle income housing affordability. You should investigate that OP.
Do people on my planet actually think like this??? Scary.
And they vote.
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Republicans aren't much better, but damn...
