FBI raids Atlanta corporate landlord in probe of rental market price fixing
FBI raids Atlanta corporate landlord in probe of rental market price fixing
The federal government’s antitrust investigation into price fixing in the rental market appears to have found a fulcrum in Atlanta after a surprise FBI raid of multifamily property developer Cortland Management.
Good. Now if we could just get some legislation in place. A corporation should not be allowed to own and rent out a residential property. Price speculators have ruined the market.
I'm not sure the corporate form is the problem. The mass ownership of huge swaths of property is tho.
A corporation should not be allowed to own and rent out a residential property.
You want apartment buildings to be exclusively owned by a handful of billionaires? Because those take a lot of capital that most individuals don't have.
Cooperatives exist. This is how many condos work.
There should be a cap on the number of single family or duplex/triplex/quadplex/whateverplex free standing residences a commercial entity is allowed to own. Attempting to evade this cap with LLC's and shell corporations and suchlike needs to result in jail time for those responsible. You want to be a small time landlord and rent out 1 or 2, or 5 or 6 properties? Fine. But nobody needs 100. If big capital wants to do big capital things, they can build tower blocks. Isn't that what the walkable-cities-urban-utopists are always nattering on about anyway?
Homes are for homeowners to own. Not for private capital to speculate on.
Over the fucking barrel, please.
Now if only my rent would drop outside the ATL Metro area