this post was submitted on 13 Sep 2023
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What's holding you back from taking a loan and paying mortgage instead of rent? Risk aversion?
I can think of two reasons but I doubt this is exhaustive...
Most people don't have enough capital to make the down payment. When one person has no savings, they're irresponsible. When most people have no savings, it's poorly designed policy.
In addition, the option of being able to rent out a house increases its value, which makes mortgages more expensive than they otherwise would be (with no rents).
Bad credit and no money
🏆 Here is your award for most disingenuous comment! Congratulations for your total lack of ability to understand that others have different Material Conditions than yourself!
Then the problem is not that the practice of renting exists, but wealth inequality. Which we fully agree on, especially since several mechanisms are at work that further the gap between the rich and the poor. These all should be addressed.