There is another, even more fundamental, reason why the present rental system is untenable. There is no justification in charging tenants to pay off historic debt when they have no financial interest in the value of the asset in the first place. They are tenants, they do not own the property. The historic debt should therefore lie with the owners of the housing assets, namely the government.
I\’m sorry, but I simply do not understand that argument.
Is he seriously saying that the rental of an item should not cover the capital cost of that item?
That if I rent a car that the car rental company should not be charging me some portion of the original cost of the car?