How many landlords have lost their homes in the past five years?
A recent Star Tribune editorial by a landlord-supported association is titled “Affordable Housing- don’t tie the hands of property owners who want to help.” Let’s be clear, landlords have little interest in helping renters find affordable housing.
“Don’t tie the hands of property owners.” Don’t put renters into the street, then you won’t have to worry about having your hands tied. Property owners “want to help,” then stop being the problem! The reason there is no affordable housing is because of jacked up rents.
This is not a “supply problem,” because a limited supply does not give landlords the right to make all metro rental units unaffordable or (non-affordable). This is the elephant in the room that none will address—landlord behavior.
Landlords are opportunistic and practice extortion.
It has always been extortion; landlords do not work within a supply and demand model. No matter what the supply, they stick together and raise rents.
And besides, supply and demand is only applicable and appropriate when the purchaser has a choice. In rental housing, renters do not have a choice; they need a roof over their head. The lack of choice is why landlords need to be regulated. They refuse to behave!
The affordable housing crisis is rooted in greed.