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@louiscouture Seems like a bad idea...
Lets assume I want to be a landlord, I get a mortgage and it costs me 1500 per month. I want to rent it out at-cost so that I can ensure I can cover the insurance so my house doesnt get damaged and pay the rental agency to handle the day to day, plus the mortgage. but other than breaking even I dont wish to make any money as the equity I build in the home will be my long term payout.. so presume this comes to 1800$ per month for me to break even.
Now i put my house up for rent at 1800$, but no one bites because the economy is in the shitter.. So I am forced to either rent my house out at a loss or the government will do it for me. Meaning I'm garunteed not to be able to make my mortgage payments and as such effectively have to loose my home all together, and in the meantime since I cant cover insurance either and the tenant damages my home when my mortgage finally defaults the value of the home will now be less than when I bought it so the house I bought it so I also am now 50,000$ or more in debt.
Why should a landlord have to loose their property and go in debt simply because the economy is nnot doing well.
@freemo: well if nobody can pay, then it's indeed at your loss. Just like the stock market, investments have risk and as a buyer you have to accept those risks
@louiscouture Not just like the stock market though.
The stock market doesnt require me to sell my stock when the market is doing poorly and take a loss. As an investor if it isnt to my advantage to sell stock I can sit on it for as long as I like and make money.
In this case they are forcing landlords to rent out their home even when it isnt in their advantage to do so and to take huge losses, where waiting and not renting it out means they can save themselves (potentially) from that debt or loosing their home.
@freemo: the government can totally force you to sell your stocks if it wants to. That's called nationalization. People who invests in stuff that can be essential know there is a risk in the government getting involved. And if they have money to buy homes like that, they probably will turn out fine. And really what is unfair : that people get to be homeless because rich people are seizing property as a way to make money and drive up the price or rich people losing their investment on such 1/2
