Comment by toomuchtodo | Hacker News Reader

Comment by toomuchtodo | Hacker News Reader

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No, no one is advocating for eliminating rent. I (EDIT: removed "We") am advocating for tilting the scales back towards labor though.

* No depreciation allowance on rental property that is almost always going to appreciate [1]

* No 1031 exchanges, deferring capital gains forever [2]

* No mortgage interest deduction, which encourages the wealthy to bid up real estate since their leverage is tax advantaged. [3]

* Co-Ops acquiring property for renting to citizens when possible [4]

[1] https://www.biggerpockets.com/blogs/2728/41560-understanding...

[2] https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_...

[3] https://www.theatlantic.com/business/archive/2017/05/shame-m...

[4] http://www.yesmagazine.org/people-power/in-berlin-a-model-fo...

EDIT: @ mcbruiser3: When I say "we" (which I removed above), people who share my progressive political view that people/humans/"labor" should be treated with priority over capital and rentseeking.

As a landowner, I would happily discard the mortgage interest deduction. And 1031s and depreciation allowances. Oh and toss California's Proposition 13 as well.

In exchange, I would request a dramatically simplified tax code that avoids mechanisms such as these across the board. And reduced zoning regulations to allow more housing supply.

Fair enough!

Coops acquiring property for renting to citizens when possible

Yes, this sounds like a good idea. As a Libertarian, I like this model because it is compatible with private property rights, and doesn't demand some sort of government intervention.

You don't think property coops are at a high risk of acting like current HOAs?

Perhaps, but as long as participation is voluntary, I can live with that. That said, if I ever buy a house, it will very pointedly be in an area with no HOA. :-)

How is an HOA worse for the resident than a landlord?

They already do, at least in NYC. That's just part of the deal you sign when you join. If you don't like it, there are a lot of other options, each with their own tradeoffs.

Improvements don't appreciate. Land appreciates.

only fair if you reduce the tax burden dramatically as well. this would not just impact "evil landlords" but most of middle class as well.

and who is "we" exactly?

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