this post was submitted on 05 Apr 2025
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It would only be an economic crisis for land owners who seek rent. Really housing shouldn’t be something that people profit from.
Home values themselves would tank.
I imagine there would be far fewer people willing to pay thousands of dollars for a mortgage when rent is only $100 and maintenance is someone else's problem. Hell, home maintenance and repairs alone are well more than that.
Then maybe we could adjust our zoning laws and take better advantage of the land available. Houses aren't very effective use of land.