Some people can't afford homes because investors are buying them. There is zero reason to believe that prohibiting investment properties would allow everyone to afford a home.
Because this is my home, not your investment. Invest in something else if people living their lives on their own property seems like too much of a risk to your "investment".
The buyers who are being excluded do not want to rent. They might want a place they can visit for a few weeks, but mostly they want an investment property.
Well, obviously people who already own apartments nearby don't want values of their own ones - mostly purchased on mortgage - to fall, because it could ruin their retirement.
Within the democratic society, there is no fix for this problem.
I'm not saying rich people can't have their second place on the lake or that companies aren't free to build apartment complexes. What benefit to society does allowing businesses and landlords to own portfolios of single family homes and rent them out offer?
The right reason for not investing in residential real estate is because it’s immoral.
Every house owned by a landlord is another house not owned by an owner occupier.
The landlord renter system has divided our society into haves and have nots. It’s modern serfdom in which landlords own families.
So sure, you can avoid investing in real estate for financial reasons but you can also avoid investing in real estate for the same reason you don’t invest in gambling smoking or fossil fuels….. to invest is to support something fundamentally wrong.
I am on the same boat as these people that can't afford a home with these property prices. But, I don't blame other people for having more than me. The concept of private property is that anyone can do whatever they want with their property.
It's entirely common for luxury properties to be seen as investments. Having people actually live there would reduce their value as investments. See any of the new luxury skyscrapers in Manhattan, whose units are mostly vacant despite being sold. More luxury housing doesn't solve a damn thing.
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