> the idea that you should view housing as simply a matter of supply and demand and not consider any externalities is an abominable position
Comrade, I am speaking about "how it works" not "what would be really nice if..."
> Income from residential rentals is taxed at the same rate as ordinary income, the kind you get from actually doing something.
I can tell you have never owned an apartment or a house. The amount of money and time that goes into maintaining a property, managing risk of bad tenants, etc is really high. Not to mention property taxes which is likely something you've not heard about (or, at least you don't mention that in your post when talking about the tax burden.)
> I can tell you have never owned an apartment or a house.
I own my home and I pay property taxes, nice try though.
> Comrade, I am speaking about "how it works" not "what would be really nice if..."
faced with "the rent going up is a problem for working class people" you're instantly taking the side of investors and positioning it through this lens:
> I want to make sure people understand the dynamics.
the problem is not that people don't UnDeRsTaNd ThE dYnAmIcS, the problem is that the dynamics actively incentivize the creation of an investor and speculator class that owns a substantial portion of the housing stock and drives price up based on speculation and not based on any actual need to use the product. The supply is artificially held low by the investor and speculator class, my argument is that this is actively harmful and that the idea that the only way to raise supply is to build more houses is wrong, because your framing assumes a vacancy rate of zero, which no major city has.
They're specifically framing it as understanding the dynamics and answering the question "What will make rents go down? Only two things". There's very little sympathy or opinion in their post.
Comrade, I am speaking about "how it works" not "what would be really nice if..."
> Income from residential rentals is taxed at the same rate as ordinary income, the kind you get from actually doing something.
I can tell you have never owned an apartment or a house. The amount of money and time that goes into maintaining a property, managing risk of bad tenants, etc is really high. Not to mention property taxes which is likely something you've not heard about (or, at least you don't mention that in your post when talking about the tax burden.)