Absolutely wrong!  Just ask any Realtor.  If you don't factor in the interest writeoffs the rents would soar another 15-20%.   Do you think that the landlord is just going to absorb these extra costs that you so flagrantly dismiss?  Of course they wouldn't!  This is how socialists take down their economy.  If the rents go up, people cannot afford the unit.  If they can't afford the rent, nothing gets built. THAT causes existing RENTS to soar even more!  It also causes the PRICES of homes to skyrocket!  You need to take Econ 101so you can understand supply side economics.  The reason home prices are already high in Hawaii is because there are more people than homes to house them.  I mean, this is pretty simple and most would understand this.  You then exempt units and condo's, while socking it to houses.  If that isn't illegal I don't know what is.  I would ask you what you did for a living...but you probably wouldn't answer.  FOR YOU:  houses are FREE, because that is what you want.