Right now, the folks keeping an empty unit for speculation can afford to keep it empty.
When the less wealthy investors who need to pay a mortgage for their micro-estate empire of 3 units realize the demand is fading, they’ll be forced into lowering rental cost and maybe even selling.
China has seen a ginormous housing value appreciation over decades. The population is shrinking and the correction is happening. It is brutal.
Yeah, that’s still possible. Corps should be banned from buying housing units. People who buy @ore than one should be taxed with an increasing rate for each additional unit.
matlag@sh.itjust.works 1 month ago
Right now, the folks keeping an empty unit for speculation can afford to keep it empty.
When the less wealthy investors who need to pay a mortgage for their micro-estate empire of 3 units realize the demand is fading, they’ll be forced into lowering rental cost and maybe even selling.
China has seen a ginormous housing value appreciation over decades. The population is shrinking and the correction is happening. It is brutal.
caseyweederman@lemmy.ca 1 month ago
Well no, they’ll sell to cut their losses. To people richer than them.
matlag@sh.itjust.works 1 month ago
Yeah, that’s still possible. Corps should be banned from buying housing units. People who buy @ore than one should be taxed with an increasing rate for each additional unit.
caseyweederman@lemmy.ca 1 month ago
Fully agreed