As always thought-provoking and well thought out thanks Rob. I see some flaws and drawbacks, but I commend you for starting the conversation and putting it out in the ether.
The biggest issue for housing is/was extremely low interest rates. The government and federal reserve have used housing as a stimulus piggy bank. There is a cost to absurdly low interest rates. The housing market is paying for it now.
Money goes where is treated best and will seek yield. Crazy as it sounds higher interest rates is the answer.
Why would anybody not be qualified to buy a zero-money down owner-financed property? If they pay rent on time, they can pay a mortgage on time. If they don't pay rent on time... then they probably shouldn't be renting from anybody.
In terms of desire... well, then they can rent. I'm sure at least a few landlords will remain to supply the needs of those who really just want to rent. That rent will be double what it is today, but those guys are about the desire not to buy, not need to rent.
As always thought-provoking and well thought out thanks Rob. I see some flaws and drawbacks, but I commend you for starting the conversation and putting it out in the ether.
The biggest issue for housing is/was extremely low interest rates. The government and federal reserve have used housing as a stimulus piggy bank. There is a cost to absurdly low interest rates. The housing market is paying for it now.
Money goes where is treated best and will seek yield. Crazy as it sounds higher interest rates is the answer.
You're not wrong. Fix the money, and fix housing. Fix housing and fix nearly everything else....
Where will the tenants go if you eliminate rentals? Not everyone is qualified or desirous of owning...
Why would anybody not be qualified to buy a zero-money down owner-financed property? If they pay rent on time, they can pay a mortgage on time. If they don't pay rent on time... then they probably shouldn't be renting from anybody.
In terms of desire... well, then they can rent. I'm sure at least a few landlords will remain to supply the needs of those who really just want to rent. That rent will be double what it is today, but those guys are about the desire not to buy, not need to rent.