Owning a house involves paying out of pocket for maintenance whereas when renting, you can have the landlord take care of that for you
Your rent is quite literally paying for the maintenance. You think landlords are just losing money on maintenance out of the good of their own hearts? Of course not, it’s just all bundled up and averaged out into one price with your rent.
owning a house would basically anchor me to one location, which gives me less flexibility as a digital nomad.
Cool, that’s one of many benefits of housing cooperatives. They can act similarly to a landlord in terms of you sharing the cost of repairs with the whole building, which reduces risk, and they don’t have a profit motive, since they’re non-profits, so rent is lower than with a landlord. Some even let your rent buy you equity in your unit, which you can then sell later to get some of your money back if you decide to move, much better than the for-profit landlord that will give you nothing. The only issue is, these cooperatives are repeatedly outbid by corporate landlords, which means there’s far fewer of them than would be ideal.
Additionally, I’ve seen some startups like Cohere that seem like they’ll eventually be able to give you even more flexibility, allowing you to move between units in various locations without having to sell the old one or file annoying paperwork to start a new lease, with at least somewhat cooperative ownership. (although, of course, this is a for profit company, which isn’t as ideal)
I can definitely understand wanting flexibility, but there are ways to get that which don’t involve overpaying to a for-profit landlord. I can understand not caring much about equity, but of course, that’s why non-ownership housing cooperatives exist.
But to actually make those things more widely available, you need to reduce the market power held by for-profit landlords. If they did not exist, these alternatives, primarily the cooperatives, could fill back in the gaps, but provide lower prices, better service, actual equity for those who want it, and still keep the flexibility you get from renting.
Developers. If there is more demand in a market, they will build property, then sell it to whoever is willing to buy, or, will seek funding from an existing institution, which if it’s not landlords, will be housing cooperatives, then use that funding to finance new buildings. Traditionally, when we’re talking high-density housing, the buyer of these properties is a landlord. Without that landlord, the demand still exists, and someone, or some group of people, will inevitably fund the cost of the housing. In a world with no for-profit landlords, housing cooperatives fill in the gaps. (primarily for high-density housing specifically)
Either existing cooperative members come to an agreement to pay slightly higher rents in order to build up a fund used to later purchase and expand their pool of housing, (which later increases the benefit they receive from economies of scale, and reduces risk of a major issue in one building causing a lack of revenue altogether) or a new cooperative is formed with money pooled from members, and once a specific threshold is met, they collectively purchase the property.
Housing is a good with inelastic demand. Everyone needs housing. There will always be someone, or some group of people willing to buy. And if you don’t have landlords to artificially increase the price of housing, which only goes up so quickly because of its commodification, and further purchasing by for-profit landlords, then the overall cost for a cooperative to outright buy a new property, or for a new cooperative to raise the funds required, is substantially lowered.