Yes that is why the literal textbook definition for a drain on the economy is a “rent-seeker” as in a rent seeking landlord. When you buy an assett and then just lease it back to people for profit, you are a leach that makes things more expensive while providing no value to anyone.
Like I said, in the 70s the Ontario Liberals dropped the price of houses by 30% just by taxing landlords and getting some of them out of the market, and that’s before the ballooning of landlords and investment properties in the past 50 years.
When you buy an assett and then just lease it back to people for profit, you are a leach that makes things more expensive while providing no value to anyone.
I don’t understand this view. A person buys a house and wants to rent it out. Are they supposed to take a loss on the property just to make a cheap home for someone who is renting? Are you (collectively, not you specifically) expecting that rental properties must be some altruistic lower than buying cost thing for renters at the expense of owners?
For context, I own a house. I rented it out for a while and am intimately aware of how much it costs to actually be a responsible landlord.
I don’t understand this view. A person buys a house and wants to rent it out. Are they supposed to take a loss on the property just to make a cheap home for someone who is renting?
Oh wow, a landlord who doesn’t understand the concept of breaking even, i.e. not profiting off those poorer than you. What a surprise!
If you’re renting out your own personal home while you rent a different home there’s no real issue, but if you’re buying an investment property, renting it out at a profit, and not keeping it as nice as you keep your own home, then you’re just being a rent seeking leach that’s providing no value to society. You’re just enriching yourself on the backs of people poorer than you. It’s literally the same thing as Nestle buying up drinking water rights and then selling the people back their bottled water at a profit.
It is.
It’s not.
Yes that is why the literal textbook definition for a drain on the economy is a “rent-seeker” as in a rent seeking landlord. When you buy an assett and then just lease it back to people for profit, you are a leach that makes things more expensive while providing no value to anyone.
Like I said, in the 70s the Ontario Liberals dropped the price of houses by 30% just by taxing landlords and getting some of them out of the market, and that’s before the ballooning of landlords and investment properties in the past 50 years.
I don’t understand this view. A person buys a house and wants to rent it out. Are they supposed to take a loss on the property just to make a cheap home for someone who is renting? Are you (collectively, not you specifically) expecting that rental properties must be some altruistic lower than buying cost thing for renters at the expense of owners?
For context, I own a house. I rented it out for a while and am intimately aware of how much it costs to actually be a responsible landlord.
Oh wow, a landlord who doesn’t understand the concept of breaking even, i.e. not profiting off those poorer than you. What a surprise!
If you’re renting out your own personal home while you rent a different home there’s no real issue, but if you’re buying an investment property, renting it out at a profit, and not keeping it as nice as you keep your own home, then you’re just being a rent seeking leach that’s providing no value to society. You’re just enriching yourself on the backs of people poorer than you. It’s literally the same thing as Nestle buying up drinking water rights and then selling the people back their bottled water at a profit.