General Discussion
In reply to the discussion: Why not outlaw landlordism? [View all]SheilaT
(23,156 posts)What would happen to all those currently renting? Many of whom prefer to rent? What would happen in NYC, for instance, where there aren't all that many single family homes, but thousands upon thousands, hell, maybe millions of renters?
Personal example: When I moved to my current city seven years ago, I rented for a year before buying the place I'm currently in. Are you suggesting I should have been obligated to buy immediately? Or paid hotel rates for that year? Seriously?
Not to mention, in that year housing prices came down and my own financial situation turned out not to be as rosy as I'd hoped. Had I bought immediately, I'd have bought a place I could not have actually afforded. How in the world would that have ended? I'd have been foreclosed on, and unable to buy something else, and there would have been no where for me to rent.
Even if done gradually, at some point there will be no rental housing of any kind available. To anyone. Think about it. Someone who wants to simply try living somewhere to see if it's the right fit, say in retirement, won't be able to rent for a while.
Truly a bad idea.