this post was submitted on 31 Jan 2024
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How about we ban companies like Blackstone from buying up all the auction homes, lightly flipping them and then putting them back on the market as overpriced rentals?
They're a big reason for our housing shortage.
What about if we crowdfund a competitor to blackstone that rents out the houses at like a 20% discount to market rate and earmark a portion of rent collected each month for the tenants to have an equity stake in the property. Then more people would want to rent from us and eventually the vampires would lose interest. I wonder if something like that would be possible. Instead of legislating them out, we buy them out. But it does require a critical mass of people willing to set aside a bit of money that they don’t expect a market return on. But maybe if they thought of it more as charity.
Well, besides the fact that I imagine most people in the target audience would rather buy their first house than crowdfund discounted rental rates...
Do you pinky swear that once you overtake Blackstone , the 150 billion dollar company, you'll have the same intentions?
That's the flaw in the slaw, I guess. No matter how carefully you craft the by-laws, once it gets big enough, someone will figure out a way to hi-kack it to concentrate wealth.