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NyxOrTreat t1_j6ouz3b wrote

Reply to comment by baxterstate in Rent just keeps going up by 13DGMHatch

Genuine question as a non-landlord, if I can I ask: if being a landlord is difficult—as most jobs are I think—why be one? Why not sell the property and divest yourself of the asset and the work to manage it? Get a job in the service industry or a trade? Personally, I would love it if my crappy landlord just sold us the house and we take over the costs while gaining the equity. Make needed repairs. Be responsible for landscaping and snow removal. Would be great. As it stands, the current low stock and resulting market (plus interest rate) increases have priced us out when a year ago we had a decent down payment. Changing zoning laws is all well and good but not helpful if those new properties are snatched up by people looking to use them as income by renting them out and working as a landlord. If people who own multiple houses had to sell a good portion of them (e.g., we put a tax on non-primary residence ownership such that people who own, say, more than 5 houses pay a 40% property tax on the highest-valued properties in excess of 5), wouldn’t that flood the market with real estate and bring down costs as well, without needing to force high-density housing everywhere?

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