iaalaughlin

iaalaughlin t1_iuilvgw wrote

The question isn’t a matter of what the nation is doing though.

The question is what is Richmond doing. (Or whatever city you want to do this for.)

Richmond appears to be here: https://fred.stlouisfed.org/series/HOWNRATEACS051760

Ownership rate is nearly 20 points below national average, and is at ~44%.

That feels troubling, but I’d like more recent data.

So, does Richmond want homeownership for its population or not?

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iaalaughlin t1_iudba8y wrote

A. It can be whatever is needed for the population, as appropriate.

B. If the pie is 1000 housing units, corporate landlords would get 300 of them, leaving 700 for people to purchase and live in. If the corporate landlords want more than 300 units, they can build more units, keep 30% and sell the rest.

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iaalaughlin t1_iuaez5i wrote

Could easily be fixed by our representatives putting a cap on the number of rentals any one entity can own, especially if end chain ownership is where the count takes place at.

I see no reason why any city/county/town can’t simply legislate what they want their housing situation to look like. 70% owned/30% rentals, for example.

Would require minimal overhead, I’d expect. Simple website to list if it’s “approved” as a rental, same place for registering your rental, and a tie in with the SCC for determining ownership.

Blackrock probably wouldn’t like it though.

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