Eliminate the rent seeking class as a set of buyers from the real estate pie and force developers through permitting to only sell — not lease their properties.
Those who disagree will always be some form of a landlord. Remember, landlords provide housing the same way scalpers provide tickets.
All renting of housing should be well regulated and good housing policy must be comprehensive, covering both the supply and demand side of the equation.
The problem is that homes are so expensive, average people cannot afford to even make enough payments on a home to meaningfully own it in 3-4-5 years. Maybe you're suggesting rent convert to partial equity in a home?
You have closing costs which each your deposit and then for the year your mortgage pays down the costs.
Those closing cost fees are the middle men fees entirely. They are there because home buying and selling is a comically antiquated process that can be fixed easily with a technical solution.
There's no reason home buying cannot have settlement periods of 5 days.
The fact that landlords think they provide a service is comical. You don't.
Homes can be bought and sold within a year very easily even in 2nd and 3rd tier markets. I know because I've done it. The fact that the settlement period for home buying/selling takes so long is a technical problem that can be easily fixed with NFTs and other technology.
You are a leach and provide 0 service.
In my area, there is significant financial friction in house transactions. It takes living in the house at least 2 years to soak those costs (having done it twice).
In one of those houses, I got another year with two 6 month rentals, both to people relocating who didn't want to be forced to buy immediately (I believe the first person wanted to save up money before buying his Permanent home and the other just wanted time to get used to the new city).
In my own rental situation, I thoroughly enjoyed the flexibility of a low friction end to my residence.
We will probably never meet in person, but I believe there are plenty like me.
Earlier in my life, I continued to rent for six or seven years after the first time I could have afforded to buy. I liked the flexibility.
I moved about every 2 years during my 20s and 30s. Renting allowed that. Owning would have prohibited it.
Some ideas of what can be different: - lower flexibility (non liquid and concentrated investment)
- many people will end up with majority of their savings in real estate instead of more productive part of the economy (companies, etc.)
- might discourage people from seeking opportunities elsewhere if there's a high cost of selling/buying houses
- in cities institutional owners (here a lot of buildings are owned by pension funds) can take a better care of multi family buildings (compared to a fragmented ownership where some owners might block even value preserving investment), it's also easier to mandate policies (e.g. better isolation, etc) for those institutional owners