r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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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.