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Joe Biden wants more people to start living in empty offices
(www.businessinsider.com)
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this post was submitted on 28 Oct 2023
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Sure there is. An enormous chunk of housing sits unused and empty because real estate speculators want to rent them out at exorbitant prices rather than use it for it's intended purpose of having a roof over people's heads.
Pass nationwide legislation that restricts owning housing for commercial purposes beyond a certain threshold, and put rent controls in place pegged to 20% of the median income per town/city. You'd eliminate 95% of homelessness before the ink was dry, massively increase homeownership rates, and be the most popular politician of an era.
It's not even an ebil communist plot, and it'd still be more effective than giving even more money to private developers on a pinky promise they'll build something people can afford, just trust them this time.
If they are renting it out at exorbitant prices, then it's not empty. If it's empty, then they get zero money. You're saying it's both, which makes no sense. Interest rates and property taxes are both high right now. It costs investors money to hold empty property without renting it out. They don't have to wait for people to pay inflated prices. The demand is already there.
I'm all for more regulation, especially for developers and investors. Stiupulate that at least 50% of all new housing built be affordable. Give incentives to rehab old condemned properties. And stop letting AI algorithms determine rental prices.