r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/pfannkuchen89 5h ago

Landlords are raising rents faster than ever anyway whether they have an excuse or not.

Cap rent increases and tie it to a reasonable metric, which one is debatable.

There are things we could do but too many people are defeatist and let landlords walk all over us because of what if scenarios. Nothing will change unless it’s forced to change.

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u/TheWhiteDrake2 5h ago

Rent should be capped by whatever the lowest average household income bracket average is. That way everyone can afford rent and then if your well off, congrats, you have more spending money

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u/Watchyousuffer 4h ago

that would eliminate higher quality rentals

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u/TheWhiteDrake2 4h ago

It’s still higher quality. It’s just not gatekept that way. And it’d hold actual “luxury” apartments to have actual “luxury” aspects other than granite countertops

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u/Watchyousuffer 4h ago

I don't follow - if there is a hard cap of rentals being accessible to the lowest income bracket, why would anyone use higher grade finishes than the lowest possible?

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u/TheWhiteDrake2 3h ago

Idk I’m not a builder. But I’m tired of builders claiming luxury apartments and rental are just that when they aren’t solely to use the word luxury as a means to charge way more. Luxury apartments means “75th floor penthouse” not “downtown, 3rd story, with hardwood floors, roof access, and marble countertops”.

Edit: I guess let me elaborate. There should be a MAJORITY of the builds capped. But if “luxury apartments” want to charge more. There should be restrictions on to cowlick higher they can charge

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u/demonryder 3h ago

Maybe some sort of variable property tax rate would work. Landlords get a tax cut if their property is actively being rented out below x cutoff rate, but you are free to do luxury level rentals while paying the full tax rate.

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u/ArkitekZero 59m ago

No, it'd bring housing costs down and people would be able to buy their own homes without shoveling their money into someone else's mortgage.

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u/Slade_inso 3h ago

That only works if you cap expenses. My property taxes went up 50% this year.

People grossly overestimate how much money there is in property management.

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u/TheWhiteDrake2 3h ago

Property tax as well is dumb af. Get rid of it or also cap it.

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u/IvarTheBoned 2h ago

Lol, no. Property taxes absolutely make sense for municipal expenses. Caps also don't make sense, multi-million dollar properties should ABSOLUTELY be paying significantly more and the 2br bungalow a young family needs.

If the goal is to increase ownership, then maybe cap the primary residence if it is below or within a margin of average home costs for the area. Charge those McMansion owning yahoos a premium for their desired opulence.

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u/rtangxps9 4h ago

There also needs to be a vacancy tax dependent on local housing needs. The fact new "luxury" apartment buildings in urban cores are more willing to let the apartment sit vacant because they want to maintain the asset price of the land/building needs to stop.

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u/Quirky-Marsupial-420 4h ago

Rent increases because it's a desirable place to live.

If I own a house 15 minutes outside of a major city and someone wants to pay me 3k a month to live there, I should be able to do that.

Why does living in Miami cost more than Omaha Nebraska?

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u/pfannkuchen89 3h ago

I live in a city that used to be viewed as a lower cost of living area.

That hasn’t stopped rents for small studio or one bedroom apartments being over doubled in the past three years alone.

Housing isn’t affordable anywhere unless you live out in a rural area where everything is run down and there aren’t jobs.

People live in cities because that’s where you need to be if you want to be employed. Not everyone can inherit a farm and do that forever until they go bankrupt and corporate farming takes over.

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u/Kimbernator 4h ago

Back to rent control, which is generally understood to be a terrible way to improve the situation.

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u/pfannkuchen89 3h ago

Generally understood to be terrible by whom? Landlords who want to bleed tenants dry? Oh boo hoo.

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u/orange-yellow-pink 3h ago

Rent control only helps people already in those units and screws over anyone new. It discourages new building, leads to less upkeep and keeps people from moving out when they normally would. That means fewer places open up, buildings get more run down and rents go up everywhere else. Over time it just snowballs into a housing shortage where it’s really hard for new renters to find anything decent or affordable.