When it comes to realtor prices, you're absolutely correct. It's ludicrous that that effective monopoly has been able to persist.
There are other costs and risk though. Many places that have transfer taxes, plus inspection costs, appraisal costs, title insurance costs, and loan origination costs.
You also have to accomodate the risk or some major issue in the 1-2 years you're living there. "Saving some money over rent" doesn't necessarily justify the risk of having to cover costs for HVAC/electrical/plumbing work that has to be done.
If you have a bunch of properties with no stable ownership, where the buck will just be passed to the next person every couple of years, properties will fall into disrepair (moreso than they do now), and temporary bandaid fixes will be (more) or the norm.
Ie, I don't believe short-term property ownership is good for the property long-term.
> transfer taxes, plus inspection costs, appraisal costs, title insurance costs, and loan origination costs
Those other costs should be driven to a much lower floor as well. The majority could be automated, and likely are in the process of being (e.g. loan origination costs).
Essentially the only fundamental cost should be inspection: which is ultimately the buyer (and their lender) offloading systems assessment onto a third party. Who, if you read the fine print for inspectors and case law, is generally not legally liable if they miss something.
> some major issue
The solution to property maintenance seems surmountable. Require it for dense, neighbor-impacting scenarios (HOA, etc), and fund it via loans against the underlying asset (HELOC or home equity loans).
I'm sympathetic to your point, but I don't think it takes primacy over enabling individuals to own their own home.
There are other costs and risk though. Many places that have transfer taxes, plus inspection costs, appraisal costs, title insurance costs, and loan origination costs.
You also have to accomodate the risk or some major issue in the 1-2 years you're living there. "Saving some money over rent" doesn't necessarily justify the risk of having to cover costs for HVAC/electrical/plumbing work that has to be done.
If you have a bunch of properties with no stable ownership, where the buck will just be passed to the next person every couple of years, properties will fall into disrepair (moreso than they do now), and temporary bandaid fixes will be (more) or the norm.
Ie, I don't believe short-term property ownership is good for the property long-term.