So when I went away to university for 3 years, of which I spent 2 months each summer back with my parents, I should have bought a house while I was there, and then sold it once I was done with my studies?
Or is renting sometimes a useful and convenient system?
Were you in a two bedroom one bathroom apartment shared between 4 people with each paying $700+utilities with no laundry? Cause that’s how it works on the campus that I went to. Exploitative rent is evil.
The current landowners have the entire supply. They tear down all the affordable housing on campus. A few developers then control all rentals on campus which enables them to inflate the demand artificially. That’s not a free market. That’s a cartel of corruption.
I think what they (poorly) meant was that there shouldn’t be individuals/entities that own multiple houses, to give everyone/more people the chance to own homes. There is a serious housing shortage because a lot of people and companies buy multiple homes. Some use it as basically a form of money (notably the Chinese) and others use it as a form of income (Individuals/entities that own 10 or more affordable/family homes and rent it out. Airbnb was/is a huge contributer to this issue)
As a rule, people today cannot buy homes and rent is a major reason why. In most places rent is over 60% of the average paycheck. How are you supposed to afford a house? You won’t even get accepted for a mortgage with the average paycheck. This issue has a lot of consequences, suchas the birthrate is falling at an exponential rate. It’s barely at the replacement level, and in some places, below. And the trend is continuing.
This issue has a lot of consequences, suchas the birthrate is falling at an exponential rate. It’s barely at the replacement level, and in some places, below. And the trend is continuing.
I agree that short-term rentals are bad, but having more normal rental units, if there is demand for it, is not a bad thing. It’s profitable and desirable for people/companies to buy up houses to rent because the rental demand is not being met and they can charge what they want. “Investor” owned housing is generally not sitting empty, so it’s not as much of a drain on housing as its popularity as a punching bag warrants.
It’s important that we don’t pit people who want to rent and people who want to buy against each other. We just need more housing supply. Period.
Based af. Abolish rent
So when I went away to university for 3 years, of which I spent 2 months each summer back with my parents, I should have bought a house while I was there, and then sold it once I was done with my studies?
Or is renting sometimes a useful and convenient system?
Were you in a two bedroom one bathroom apartment shared between 4 people with each paying $700+utilities with no laundry? Cause that’s how it works on the campus that I went to. Exploitative rent is evil.
So this sounds more like a supply and demand problem. The concept of renting itself isn’t the issue.
The current landowners have the entire supply. They tear down all the affordable housing on campus. A few developers then control all rentals on campus which enables them to inflate the demand artificially. That’s not a free market. That’s a cartel of corruption.
I think you meant to say they decreased the supply.
Thanks John Locke
Why stop there? If we can imagine a better capitalism than the one we have today, then we can imagine something better than capitalism entirely.
I can imagine lots of things.
And yet articulate none. No solutions, just pearl clutching
lol and what I should just let people stay in my property for free? Get real.
I think what they (poorly) meant was that there shouldn’t be individuals/entities that own multiple houses, to give everyone/more people the chance to own homes. There is a serious housing shortage because a lot of people and companies buy multiple homes. Some use it as basically a form of money (notably the Chinese) and others use it as a form of income (Individuals/entities that own 10 or more affordable/family homes and rent it out. Airbnb was/is a huge contributer to this issue)
As a rule, people today cannot buy homes and rent is a major reason why. In most places rent is over 60% of the average paycheck. How are you supposed to afford a house? You won’t even get accepted for a mortgage with the average paycheck. This issue has a lot of consequences, suchas the birthrate is falling at an exponential rate. It’s barely at the replacement level, and in some places, below. And the trend is continuing.
So at least some good comes of it.
I agree that short-term rentals are bad, but having more normal rental units, if there is demand for it, is not a bad thing. It’s profitable and desirable for people/companies to buy up houses to rent because the rental demand is not being met and they can charge what they want. “Investor” owned housing is generally not sitting empty, so it’s not as much of a drain on housing as its popularity as a punching bag warrants.
It’s important that we don’t pit people who want to rent and people who want to buy against each other. We just need more housing supply. Period.
unless you’re living there or otherwise using the place, it shouldn’t be ‘your property’.