06-03-2021, 08:56 AM
(06-03-2021, 08:00 AM)ijmorlan Wrote: I don’t know why the city would want to enforce owner-occupiers vs. investors.
Because investors lead to speculation and speculation leads to the problem we have now. If the City cares about the wellbeing of all its residents, it cares about them being able to afford housing. Thus they have an interest in curtailing and mitigating situations like we currently find ourselves in.
(06-03-2021, 08:00 AM)ijmorlan Wrote: Isn’t a shortage of rental housing one of the issues we supposedly have in this city? If rental apartment buildings are good I can’t see how having many units in a condo building be rental can be bad.
Corporations as landlords can rely on economies of scale, so to speak, for a lower profit margin and thus smaller increases. Joe Schmoe investor, on the other hand, wants the excessive increases to fund their upper middle class retirement. I mean, something's gotta pay for 6 months in Florida every year, right? People like Joe Schmoe donate to their favourite politicians and bend their ear in order to prevent any legislation that would curtail the situations like we're in now. The Corporate landlords, while they don't need the excessive increases, so they aren't quite as motivated to lobby for them, aren't going to complain about them, either.