Landlords are not part of the problem. They are part of the solution.

If we want to solve the housing crisis in Portland and elsewhere, we must see landlords as partners, not enemies. We must also work to address three separate drivers of the housing crisis simultaneously:

1) Regressive tax policy

2) Chronic inequality

3) Housing stock shortages

Complaining about regressive tax policy may sound like an ultra-liberal talking point. In reality, the structural harm caused by regressive taxation often falls hardest on small- and medium-sized landlords. When income earners and small property owners are taxed at rates far higher than the billionaire class, government has fewer resources to invest in programs that could incentivize housing construction or offer relief to landlords facing difficult times. Shifting the largest share of the tax burden onto small- and medium-sized property owners may be politically expedient, but it is terrible policy. These owners often have the strongest incentive to improve their properties, expand housing opportunities, and compete in ways that maximize value for tenants.

Chronic inequality may also sound like an ultra-liberal talking point. But when billionaires accumulate vast amounts of wealth without paying proportionate taxes, they contribute to the same structural damage by pulling capital out of broader economic circulation. A wage earner typically spends most of their income on goods and services, and each exchange generates economic activity that helps the economy grow. That growth expands the tax base and allows government to fund programs that can both encourage housing development and provide mental health support for individuals who may not be well served by private housing. In that way, reducing inequality can also reduce pressure on the private rental market.

When landlords are compelled by poor policy to accept below-market rents or shoulder disproportionate social burdens without support, inequality may worsen. Property values for those most committed to housing ordinary people decline, while the wealth-hoarding billionaire class becomes even more insulated and powerful. That deepens the inequality crisis rather than solving it.

Government policy can make housing development either more attractive or less attractive. Red tape, permitting barriers, zoning restrictions, and other regulatory burdens too often function less as safeguards for public safety and more as tools for preserving existing property values for those who already hold substantial wealth. Multifamily development should not be so heavily restricted, and tax incentives should encourage—rather than discourage—the expansion of property into multifamily housing.

Landlords must be at the table.