Wouldn't this be illegal? He wants to buy apartment buildings, rent below cost, and refuse to rent to people with tech jobs. The government is allowed to do this sort of thing as long as they use income and not job type to determine it, but I think if private citizens did it then it would be considered discrimination and there are a lot of laws against that in the housing market.
Income discrimination isn't included in fair housing laws. Neither is bad credit, bad tenancy history or felony convictions. Discrimination based on source of income (e.g. Social Security, veteran's benefits) is illegal, however.
Why this convoluted scheme instead of the obvious thing staring all of us in the face: build more housing!!! Huge swaths of the CITY are lots with single family homes and even the prime water-front real estate sits as empty warehouses and parking lots. There's a lot we can do to make the city affordable just by giving people more housing. Housing prices go up when more people want to live there than there are houses. Why are we all overlooking this extremely basic fact??
um you would probably need 10s of millions to do this. If you had 10s of millions you probably don't enter money-losing ventures on purpose
You need to learn the Law of Rent in order to truly solve the problem.