was reading a thread on twitter about this. i know it’s a topic that comes up every so often on communist spaces too, how do we approach house ownership - i don’t mean a house to live in, I mean owning a second home that they won’t live in?
I might come into a second home through inheritance at some point (hoping my parents still live long though lol). getting through a first home is probably going to be a mess bc of how i live in it with my siblings and here you get a mortgage until you die, because it makes more sense for taxes. Usually when kids inherit a home, they sell it because they’re already living somewhere else and the next owner inherits the mortgage + a new one. oh well it’s still far off lol, we’ll see when we get there.
but if you come into inheriting a second home… what is the best solution? sell it to someone who will rent it out instead of you?
i know usually these discussions revolve around no ethical consumption in capitalism but they never seem to reach a final answer.
Here we have land banks at the municipal level. They buy up houses and finance first-time buyers who don’t qualify for normal mortgages, in a contract where the home sells below market rate but they can only sell it back to the land-bank at an appreciated value so they aren’t taking a loss. To me that’s the most ethical western model outside of UK council homes. It’s giving kids a stable childhood and workers a sense of long-term stability instead of giving yourself a nicer car from the price premium of a private sale.