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Of course not. Both for-profit and non-profit developers would buy property; the for-profit developers would provide unaffordable housing and the non-profit developers would provide affordable housing, but I would expect a modest expansion of affordable housing options.
Could you point out some of these non-profit developers, please? I've never encountered such a thing.
Using the most expensive the cities in the country to discuss rental rates is a little dishonest, don't you think? I've seen San Fran and NYC mentioned here. Cabrini Green in Chicago was also mentioned, to be fair. But we see how that turned out.
Good reason to stop taxing rental property up the wazoo.
It's not just the property that gets taxed. We pay property tax, income tax, and we are even taxed on our meager office equipment. Tax rentals as if they are any other property, I'm fine with that (that's the system here). Taxing simply because it's a rental is ridiculous.
Could you point out some of these non-profit developers, please? I've never encountered such a thing.
Using the most expensive the cities in the country to discuss rental rates is a little dishonest, don't you think? I've seen San Fran and NYC mentioned here. Cabrini Green in Chicago was also mentioned, to be fair. But we see how that turned out.
We can blame Congress (and the liberals who pushed it on Congress) for that; they opened the floodgates to let in the welfare class who has been excluded for 30 years by minimum income requirements.
Given limited resources, better for taxpayers to subsidize the working poor than the nonworking poor.
rent control is an ineffective and often counterproductive housing policy ....The profound economic and social consequences of government intervention in the nation's housing markets have been documented in study after study, over the past twenty-five years. In response to this hard-earned experience, states and local jurisdictions from Massachusetts to California have banned or greatly constrained rent control.
Economists are virtually unanimous in their condemnation of rent control. In a survey of economists of the American Economic Association, fully 93 percent agreed that "a ceiling on rents reduces the quality and quantity of housing available.https://www.nmhc.org/content.aspx?id=7244
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Rent control reduces the incentives to build new apartments by reducing the amount of money that can be collected from current and apartments. ....Renters in rent-controlled units are less likely to move – there are long waiting lists at the other rent controlled places – this means they may be unwilling to take jobs that are farther away from their current apartments, this is bad for the economy.
Rent control goes against basic economic theory around price controls. If we want more affordable units, we should do the obvious things. We can increase supply by increasing zoning, reducing red-tape and removing expensive barriers to housing construction such as parking quotas. We could figure out ways to increase the number of subsidised housing units through incentive programmes. We could create or expand voucher programmes for those who with low incomes. Rent control has been tried and has been shown not to work well, and many jurisdictions have been working to remove rent control and rent stabilisation laws and have shown no obvious ill-effects (Massachusetts comes to mind). Rent Control is Bad for Affordability
It's not just the property that gets taxed. We pay property tax, income tax, and we are even taxed on our meager office equipment. Tax rentals as if they are any other property, I'm fine with that (that's the system here). Taxing simply because it's a rental is ridiculous.
That's what I meant - in most states, rental and commercial property are taxed more than owner-occupied homes.
Could you point out some of these non-profit developers, please? I've never encountered such a thing.
Using the most expensive the cities in the country to discuss rental rates is a little dishonest, don't you think? I've seen San Fran and NYC mentioned here. Cabrini Green in Chicago was also mentioned, to be fair. But we see how that turned out.
Good reason to stop taxing rental property up the wazoo.
ALL property is taxed
yes there are some different levels...why because different levels produce INCOME
rentals are and should be classified as commercial...why because the produce income.....even a resedntial property IF it was to become a rental needs to be rezoned...it is producing income after all
That's what I meant - in most states, rental and commercial property are taxed more than owner-occupied homes.
becuase it is a BUSINESS, it produces an income...therfore is zoned as comercial....and should be
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