Low rates allow high ratio mortgages(5% or less down) so all the rent needs to cover is 1-2% of that down payment to break even. After that the tenant works to feed the mortgage and gets zero equity.
Fix? If you buy to reside in it = normal realty taxes. If you buy to rent, it is a business and needs to be taxed as such. Extracting money from the current positive feed back loop changes the equation and could eliminate this sort of rent seeking behaviors.
