If it would destroy the economy if everyone did it, then it should not be doable in the first place.
It’s funny that one probably-landlord downvoted this. You know who you are, scum-sucking leech.
It’s kind of a false dilemma to say everyone should do it or nobody should do it. There are a lot of things that would destroy the economy or even the world if everyone did it. I think there is a healthy amount of small family owned rental properties like the one in the meme.
It’s a simplistic statement, but it’s not meant to be that broad, it’s meant to be taken for this type of practice.
If everyone lived off leeching off someone else or from being middlemen, without producing anything, there would only be money moved with no products, labor, or services.
It’s not meant to be applied to something like “what if everyone’s business was just opening a pub?”. The economy would be destroyed without diversification and many kinds of businesses. But being a landlord isn’t anything like that. Particularly those that won’t freaking repair anything wrong with the house, just take their checks and the tenant is on their own.
What? Your comment doesn’t make sense. If everyone did any profession solely we would destroy the economy. If everyone became doctors, there would be no engineers or pilots. We would still be doomed. A diversity of vocations are necessary regardless of which vocation.
*Edit. I was thinking maybe you mean investments. But the same holds true there. AND because of hedgefunds and private equity it’s becoming more and more of all the money funneling into a handful of companies. All the economists are sounding alarm bells on this. But considering the direction our leaders are taking us, I think this is all part of the plan.
Landlording is not a profession.
Handyman is a profession. Real estate management is a profession. Landlording is simply siphoning money through the act of owning something.
The economy can tolerate a finite number of leaches before dying. We currently have too many. The ideal number is zero.
Landlording is simply siphoning money through the act of owning something.
This actually applies to most all investments.
ALL forms of making money from having money need to be abolished completely.
If you’re not creating/selling a product or providing a service, you’re not EARNING money. Furthermore, rich people getting richer through passive income is the #1 thing diminishing the returns from actually worthwhile endeavors.
I somewhat agree with you. And I 150% agree that “rent seeking behavior” doesn’t add to society.
But what if you want to sell a product you designed but can’t afford to create it or to setup a factory for it, so you want funding, so you try to get investments, maybe by selling equity in your company. Is that not valuable to society? The people that take the risk that your product may not sell?
But what if you want to sell a product you designed but can’t afford to create it or to setup a factory for it, so you want funding, so you try to get investments, maybe by selling equity in your company. Is that not valuable to society? The people that take the risk that your product may not sell?
That’s where small business grants from the government comes in.
Helping people thrive without being beholden to ruthless opportunists or run the risk of bankrupting private investors is EXACTLY the kind of thing tax dollars should be spent on in stead of the MIC, subsidies for the most profitable corporations in the world, and other such enriching of the already rich.
How did anyone do anything before currency was invented?
Your comment implies that what you describe is a requirement for a functioning society
It isn’t.
Before currency was invented might be a stretch— back then, which was a long long long, time ago we likely didn’t even have professions in the same sense. Albeit Dave might have had a knack for fishing, Kendra for making canoes etc.
There was plenty of space in the wilderness you could just go live for free. Now we have a lot of people, we need agriculture to support that population; there isn’t enough land for hunter gatherer societies to exist without a large population collapse first.
Now to your point I suppose we could have a society without money; yet I think there is some freedom in currency even if everyone gets a UBI. It allows two random strangers to come together and have one person buy something without having to trade an item that the other person wants, then the seller can go buy something they want.
Without currency we would have to have a somewhat complex trading system, which inevitably would see certain items of rarity never traded, or traded for so much surplus goods that a new ironically materialistic moneyed class would develop. It would make for an interesting book, but I think so long as people have varied interests and desires, and create creative works, money is a useful thing.
Then it should be illegal to have no children, because if everyone had no children, we would literally go extinct.
This is like saying that if everyone had a small business it would destroy the economy. If you think a rental damages the economy, you have no idea what the economy is, or how it works.
All so that none of their tenants can afford any of those four things without constantly struggling!
That’s because they haven’t seen that tweet from a money genius who invented the cheat code on life. You just need more money streams for more money. Who knew? Here I was, just sitting with a gazillian dollars stuffed under my mattress nor knowing what to do with them.
Step one: Have a shitton of money to buy property to rent out.
Oh, you don’t have enough money? Hhm, have you tried not being poor?Facts that concern me:
- they are on Twitter
- they use a combined username (gross)
- they list vacations as number one
Same people will be looking for a govt bailout when the real estate market collapses.
I don’t understand. What exactly is the complaint here? That they’re over charging or charging at all?
Or is this just bandwagon hate on a common and ancient business practice?
Because there is nothing immoral or unethical about having multiple rental property.
And don’t give me this shit about how they’re evil for over charging. The middle class holds all the power all we’re lacking is organization and education.
Because there is nothing immoral or unethical about having multiple rental property.
You’re charging someone for you doing nothing so they can have a basic need to survive. It’s very immoral
If you’re gonna try to defend an immoral act with
Or is this just bandwagon hate on a common and ancient business practice?
Then Ill assume you’re pro-slavery and move on
Charging for housing isn’t immoral just because it’s a necessity. By that logic, grocery stores are immoral for charging for food, and doctors are immoral for charging for healthcare. Property ownership and rental markets exist because providing and maintaining housing costs money. If your argument is that the system should be reformed, fine, let’s talk solutions. But calling all landlords inherently immoral is just lazy thinking.
Also your comment on slavery is offensive which I believe is the only reason you added it which makes you sound even more stupid.
Also your comment on slavery is offensive
So you know your argument works perfectly for slavery, can see how it applies and are embarrassed enough being called out on it to be offended, but not to rethink yourself? That response is actually why I included it: easy way to tell you’re not to be taken seriously
Oh, please. Get off your intellectual high horse. Your ability to string coherent words together doesn’t mean you actually know anything. All you’ve done is throw out a false equivalency and some hyperbole. I present arguments, and you respond with pseudo-intellectual gibberish. The people who take you seriously are the same ones who fart into wine glasses, idiots. I’m so tired of you hipster fucks on Lemmy. You talk about things you don’t understand and convince yourselves you’re enlightened. You’re just short-sighted trash wrapped in $100 words and YouTube rhetoric.
All you’ve done is throw out a false equivalency and some hyperbole
No, I pointed out that your main argument in your original comment was terrible as it was an equally valid defense for slavery, figuring that if you got butthurt at being called out on it that you weren’t worth engaging mentally with, as anyone of any decency would see that and go “oh fuck dude maybe I should rethink at least that part of my stance”, it’s literally what I said in my comment ffs
you respond with pseudo-intellectual gibberish
My point, non-intellectual as it may be (like basically everything I do), wasn’t gibberish to anyone with basic reading comprehension
In the case of the screenshot, absolutely.
I have a question though, and I am curious about the perception here so please be honest as to what you think about my situation. (EDIT: I have received a few responses, and they are terribly informative of all of your perceptions. I want to thank you all for contributing your knowledge to my understanding, as I think by ingesting it, it has made me a better person. Thank you!)
In my case, I own a condo. I worked my ass off doing technical shift work and my parents were fortunate enough in their lives to give me a gift of $20,000 dollars in my local currency to try to buy a home. I am floored. I never thought I would afford the opportunity to potentially own a home of any kind.
I buy a small condo. Two bedrooms. One living room with an attached kitchen. The floors of the building are thin. I can hear my upstairs neighbors walking around and opening and closing doors and drawers at all hours. The insulation is bad, it is cold in winter and hot in summer. I am happy. I have a roof over my head, and I answer to no one for the walls, the fixtures, the plumbing.
I lose my job because the business I worked for fucked up and lost some clients. Because of the lack of cash flow, I and many others are laid off.
I hold on for as long as I can but eventually the cost of mortgage, insurance, groceries add up. I go on unemployment insurance. The economy is fucked because of covid, no one hires me for a year and 6 months.
My unemployment insurance runs out after having submitted 4 resumes daily this entire time, maintaining a log of them for the government EI program.
When I only have a couple thousand dollars left in my bank account, if I want to keep the ownership of my home, I have to move in with my parents again and rent my condo out to keep it at all. My dream of being able to just exist in a home I own is at stake.
The government EI program calls me in for questioning to insure I am a legitimate case. I feel some of the most stress and fear I have ever felt. Logically I know that I have been doing everything I can, but somehow I still feel guilty for having to take advantage of it. I perform the interview, I bring a document detailing the URLs, Descriptions, Dates, everything of every job I have been applying to. The interviewer shows shock on her face. I get the impression that the level of detail I have been maintaining is uncommon. They let me leave without incident.
For rent I charge the exact amount that I have to charge to cover mortgage and insurance, legally required, to maintain my the ownership of my home and nothing more, no profits. I have lived under abusive land lords before and the way they operate disgusts me. I will never be that, I would die before I let myself become that.
A Ukrainian family, Husband and Wife with their 3 year old Daughter are the first to apply. I discuss the property and their lives with them and they are some of the strongest, most responsible, wonderful people I have met in my life who came to my country to escape the situation in theirs. I accept them as my tenants immediately because I recognize how absurdly lucky I am to have these people living in my home, given how smart, how responsible, how kind they are. I promise to myself that at the first opportunity, I will show them the same kindness.
I finally find a job, even though it doesn’t pay much, and begin reducing the cost of their rent because I can finally afford it. I begin paying rent to my parents because they are owed that. My bank account begins saving about $100 a month in case I have an emergency I need to cover.
The interest rates lower and condos begin to become cheaper. I intend to lower the cost of the rent based on this when my tenants renew the lease.
This is the last 5 years of my life.
Am I a leech?
my parents were fortunate enough in their lives to give me a gift of $20,000 dollars
just FYI, when you use a dollar sign you don’t also have to type out the word “dollars”
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They act like everyone could do this.
If everyone did this, the system would fail, because the profit here is scooped off the top with no actual production or service.
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Using my “friends” to pay off a personal debt while making $250/mo in profit off them. See, it’s possible to be a good landlord, everyone!
Did you share any of what you made from the sale with your “friends” who helped you pay for it and kept it in good condition for you?
Did those friends run the risk of having to pay for a new roof or anything else that can go wrong with a house? Tell me you’ve never owned a house without telling me you’ve never owned a house
You still take someone elses money, just less of it.
See, when the Landlord charges reasonable rates, and actually provides services in exchange for that rent (helping update appliances to newer, having paperwork on hand for any code/inspections needed for property changes (that the landlord would ultimately benefit from,) and in general treating it as a matter of ‘I have obligations’ instead of ‘I will do nothing but I will absolutely blame the tennants for the inevetable crumbling of the property.’
I dislike the concept at base level, but that is a someone who is trying to not be a scumbag.
Housing prices are pretty high in cities. But you can buy your own piece of land in a more rural setting and build a small cottage yourself, maybe a 2 bdrm, 1 bath home. I believe this is possible for less than $100k at the right location. Start with a used cheap RV or mobile home if you have to.
You’re fucking high if you think you can build even a small house for less than 100k
