One reason the U.S. government pushed for homeownership is because it’s thought to reduce turnover and build strong communities. Owners have a vested interest in their properties whereas renters don’t—but what if were to change?
Hong Kong, for example, has a significant number of apartment buildings where units are rented out as shells and it’s the responsibility of the renter to finish them and make them habitable. Renters have a reason to stay put and maintain the unit because they effectively own a chunk of it. When they do move out, a new renter adds a new interior, so units are always being updated.
Can this setup work for rental buildings in the U.S.?
Source: Metropolis
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