Real talk, if we ban rent, like TODAY, what could be the worse that could happen. My guess is that the crash of the housing market will have the positive side effect of dropping housing to affordable levels again, but I think that is a waaay too naive estimation.
@merino what i've heard is that the reason most places didn't cancel rent for covid closures is that if landlords and banks stop paying mortgages and property taxes, there are basically no other funds for for most municipal-level services
@merino to be clear, the current system is a terrible one (schools in particular, hitching school budgets to property taxes is one of the major drivers of disparities in US educational outcomes) so this is not to say that we shouldn't outlaw rent but the effects would be widespread
@parenthetical thank you a lot, this is what I was looking for. Of course I what we really need is a total overhaul of our political and economic system, I was just toying with the Idea of making a drastic decision like that and how would that affect the system that we currently have.
@merino reserve banks have demonstrated iver and iver that they will do literally anything to keep house prices going up, even while acknowledging that unaffordable housing is bad.
@merino apparently protecting property investments is super important for some reason.
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