Abolish Lordship in America
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The USA is not a feudal society and the practice of lordship is anti-American. The practice of owning the places where other people live and work, for use as a financial instrument, has caused the cost of shelter to skyrocket while office and retail spaces throughout the country remain vacant for years. This is especially true in cities, where most jobs are, where it would be most efficient for people to live, and where public infrastructure spending is the highest. Banning the ownership of real estate beyond primary residences, and owner-occupied work spaces, would end the feudal practice that forces many people in densely populated areas to live in service to their landlords' debts and lifestyles.
The “service” provided by landlords merely increases tenants’ cost of living or cost of doing business. There is no reason why a property owner, which may not even live in the same country, needs to maintain ownership of a property someone else will live in or utilize. The ownership of real estate as a financial instrument is not productive because nothing new is produced; and the practice detrimental to society because it actually makes cities less efficient by depriving renters of disposable income or of dwellings that are close to where they work, thereby increasing their carbon footprints.
By banning the ownership of real estate beyond primary residences, housing prices will reflect actual market rates rather than speculative prices; the divestiture from real estate investments would spur economic growth from investment dollars being redirected toward productive endeavors, such as investments in new businesses; and residents would have more money to spend while increasing their personal wealth.
The problem is also that many investors don’t trust other financial products to be as reliable, or as profitable, as the hoarding of real estate; and the idea of residential real estate investment is relatively simple and the risks are easier to understand and manage. Ideally, an infallible financial product could be developed that provides returns that are comparable to real estate investment returns while directing funds to infrastructure. For instance, if Social Security could function more like an fee-free annuity account, in which anyone may contribute an unlimited amount, that provides a guaranteed income based on the voluntary amount, beyond the amount required for Social Security contributed and when the account-holder decides to start receiving payments; wherein the voluntary contribution based payments are penalty-free at any age not just after retirement age.
Please sign the petition to abolish lordship to build a community of people that believe the cost of housing and the cost to start a business due to the cost to lease space throughout the country has risen at amount that is unjustified and abusive, and that the best solution is not to plead to landlords to lower their asking rates, but to make sure that everyone is in the same boat and working to be productive members of our community without hoarding more resources than they need for themselves or their businesses.
Please also send an email to AbolishLordship@gmail.com if you have organizational experience and would like to volunteer to promote this effort.
If you have any ideas about how to ensure that affordable housing and work spaces become affordable as soon as possible that you'd like to discuss, please post on r/AbilishLordshipinUSA or r/AbilishLordship on Reddit or @AblishLordship on Twitter.
Complementary concepts to the above will be proposed that include making (local, state, or federal) government the only entity that may rent low/moderate income housing or low/moderate income (commercial, industrial, manufacturing, retail, office, etc.) work space while homeowners could still rent out rooms in their primary residence; wherein tenants could offer to purchase the units they rent at a public auction and in order for businesses to occupy any rented space they must pay al employees livable wages; allowing (local, state, or federal) government to serve as an optional clearinghouse for real estate sales so that anyone that wants to move may sell their property to the clearinghouse at, or slightly below, the market rate at any time while they may still sell their property privately to anyone the wish to sell to and at any price; and allow low-interest student loans to cover the cost of buying a home so that their payments for student housing also build equity.
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