L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
L.A. County wants to cap rent hikes at 3%. Landlords say that would push them to sell
A proposal to cap rent increases at 3% for many landlords in unincorporated L.A. County is meant to keep housing affordable for at-risk tenants.
Paywall removed: https://archive.is/MbQYG
You're viewing a single thread.
SELL UP MOTHERFUCKERS
You know that they will just sell to large corporations that will fuck you over even harder. This is not to be celebrated
Yeah, big corporate landlords are a problem. Stopping all landlords from jacking up prices is a good thing. This can build momentum for more effective legislation for corporate landlords.
Bill Oswald, whose family owns eight apartments around Long Beach, said a corporate landlord recently contacted him about buying properties in the area. He said both his brothers urged him to sell, because of rising costs.
The large corps will buy everything. With this 3-5% rule (certain circumstances, in article) you can guarantee that is what they’ll raise it EVERY SINGLE YEAR moving forward. They’ll point at this committee saying “they set the rules, we just abide by them”.
So, when we get there, let's also fix THAT problem. Im not a lawyer but I will bet my left hand it's possible to write a law that can block large companies from investing in houses.
If you see people trying to fix a problem and your first instinct is to look for a reason to preserve the status quo, ... Well don't be like that.
There should be a logarithmic scaling on taxes for a home depending on how many you own. A normal person should be able to own a home. A rich person might be able to afford 3, a billionaire should be able to afford 10.
"But if I sold it, I'd lose money!!!"
They will. And you'll end up homeless.