Kids back in my day you used to be able to rent a house for like $400. It was much cheaper than owning a house and had several advantages. Sometime after 2012 that all changed. Now it’s as you said. There’s a place for rent and land lords, it’s just not the current system
With all due respect, I can't agree with this. It's theft when a multi billion company buys home properties and then rents and manipulates the market. If someone buys a house and succeeds into buying himself another studio apartment for future kids and in the meanwhile rents it, that's not theft, pal.
When someone rents that apartment and they pay the landlord rent, the landlord is making money without working. The landlord isn't actually providing any value or service, they're only refraining from using the state to remove the person living in their property because that person is paying them.
If a person were to occupy the property without that landlord's consent or awareness, it would cost the landlord literally €0 barring damage to the property. If you factor in damage, the "fair" price of rent would be nonzero but negligible, in the order of several hundred euro a year.
Is there any reason why this landlord ought to receive payment for providing 0 value? Let alone enough payment to fully finance the property over the course of a couple of decades, during which time the tenants are effectively paying for the landlord's mortgage without receiving any stake themselves.
Rent is theft? I thought rent empowered people. How is it theft for a car rental company to rent you a car at at an airport? How is it theft for uhaul to rent you extra storage space when you need it?
When's the last time you rented a car at an airport?
Renting a home to live in is theft. Work with that example in your head, not cars or uhauls. Not many people say hotels are theft (though, it's worth considering as well)
If the concept of rent must exist, at least have it go to the government. It's obvious that in private hands it will eventually favor the most rich, and it should not be used as a means to speculate. Unfortunately, political leaders never learn, and if they see thing X that moves a lot of money that they can trickle down off of, fuck the consequences of thing X, that thing is going to be allowed. Crypto, AI, housing, cloud PCs, they will kneel away their autonomy bit by bit.
If the concept of rent must exist, at least have it go to the government.
Really depends, imo. Local municipalities? Sure, but that's a decade-long fight to make it widespread throughout the nation. Welcome to democracy where one party is more than happy to work across the aisle with fascists. Federal? I can just imagine the Trump executive order firing all workers and the terrible outcome that may ensue.
This has come to the forefront in America since Covid and has become the reason why a lot of American's (younger Millenials and Gen Z) can't buy homes, beyond Gen Z being unable to find gainful employment (1/3 in unemployed). I think stating holes in their argument like "there are good landlords out there" or "what about this specific instance" is literally arguing against a rule with exceptions. That's not what this post is talking about. They are talking about the "corporations" who are just some rich older person or couple that are buying one, two, or three extra properties and renting them out. Frankly that's the biggest reason why housing costs have skyrocketed.
The US Federal Reserve is trying to curb this by keeping the Prime Lending Rate (PLR) high, but Trump is putting pressure on him because lowering the PLR would look good for him on paper because it would look like he did something immediate to alleviate the economic pressure we're feeling in America, directly because of him and his policies. BUT, that would be catastrophic to us "poor" (people making less that $240K/year; 90% of Americans), and I think you can see why. Yeah, if American's with large savings accounts (years ago the figure was (0% of Americans have less than $1000 in savings, so just imagine how it is now) all of a sudden saw that the mortgage on a house dropped from . . . lets just take the average cost of a "starter home" @$210K . . . $1,762.34/month to where it was prior to the pandemic at (~3%) $1,347.87, the rich Americans that were already buying those extra houses would just buy more extra houses and charge YOU, a poor American, that ~$1500/month and still charge you for any maintenance they have to do (depending on how your state renter laws are set up).
But even with all that, we still have the issue of how much houses cost. And because of the aforementioned "extra houses," we have seen a skyrocket in the cost of houses. I won't do a deep dive on it, but I will sum it up and link to a podcast you can listen to: an average home "should" cost ~$120K in today's money, but because of the MASSIVE bubble created, that home now costs ~$400K. Why? because of people buying extra homes, and those same people who don't have jobs being able to make it to zoning meetings to tell the planners they only want "big" homes in their areas to increase the selling price of their own home. That then has a cascading effect: let's say this happens somewhere in California like a suburb of San Fransico. That means that people no longer can afford to live there so they move to let's say Dallas. Now Dallas has less supply and more demand and the sellers jack up their prices arbitrarily because they want more profit. Then the buyer rents it out and keeps increasing rent prices so they can keep making more money.
This is what the X Poster is complaining about. Not an immigrant charging reasonable rent prices or "good" landlords, because the truth is, those aren't the type of people typically renting out houses to poor people who couldn't afford to buy it.
https://www.youtube.com/watch?v=7bajyEFHK0M&t=1198s Here's another video that's kinda related: https://www.youtube.com/watch?v=SfsCniN7Nsc
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