this post was submitted on 22 Apr 2024
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A Boring Dystopia
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Why build enough for myself and my family and be content, when I can extort another family for survival to help me cut costs and provide me a passive income for the rest of time?
Real fucking altruistic.. 🙄
Extort lol. Some people want to stay at the same place forever those buy, some want to be flexible and rent. Money is used as an exchange for provided work.
I dislike capitalism and greed aswell but you are something else my dude.
But yeah keep dragging allies in the mud my father is basicly a oil company
Yeah, that's bullshit. It's a MUCH better deal to buy than to rent and everyone knows it. Most of us just don't have enough money at once or a high enough income to be granted the requisite loans.
In the two decades plus change since I moved from home, I've paid as much in rent as someone richer would have paid to own a house several times the size of my apartment in the same neighborhood. I've paid as much but I don't get to own what I paid for and even generate passive wealth that I could pass down to later generations if I had kids.
TL;DR: if you're renting, you're getting a bad deal and so is your kids and their kids and their kids and..
It's still a better deal to rent on shorter timescales.
I'd have to run the math again but because of things like realtor/legal fees (speaking of leeches, realtors are the absolute worst) last I checked it was in the 2-3 years range where renting made more sense than buying. That depends on the market too of course. Any significant repair costs or depreciation in that time makes the break-even point a bit longer, shorter if the value goes up enough.
Yeah, the whole moving every 3 years or less? That's ALSO something that most people can't afford.
You're sounding like you're very much arguing from a place of privilege that you aren't conscious of. And no, realtors aren't the worst leeches, that's still landlords.
I knew a guy that said he would never buy a house and preferred renting because he didn't want to mow and other maintenance.
People who think they are allies but are actually part of the problem are worse than those who do not pretend. Those who pretend will expect their carve out to be protected.
Why does this feel you're purity testing people on Lemmy? Lol
There is no gray line. People who exploit others via landlording only vary in how much property they own.
There is no nuance. One either does or does not lord over land. Every landlord justifies their participation in their own way.
No one is born a landlord. It's a choice.
No one is born a landlord sympathizer. It's a choice.
Being an ally requires one avoid specific choices. At any time one can sell their property and become an ally.
Those claiming their situation is an exception are the ones arguing for purity.
I bet you have money in your wallet. A true communist would already live without it! See you in the line at the wall i guess May the ones who shoots have good aim
I see. You're confused. We're talking about landlords not communism.
Somehow this confusion is my fault. That's precious.
Proper** landlording is not passive income. It took work, time, and investment into building the structure. Then you have to maintain and repair it. The majority of landlords view it as a get rich quick situation and join the ridiculous market, but if they charge reasonable prices, the mortgage, interest, repair, and maintenance of a home does cost money. And then your own time if you do the repairs yourself or pay someone, the overhead of taxes, insurance, paperwork. Those things cost money. Some of it is paid by paying the mortgage down and creating equity, but some of it has to be built into the rent.
However, some, if not most landlords don't look at the investment into the equity, they look at the money in their pocket after their mortgage payment, maintenance, and costs every month. They want (sometimes need) their profit now, not in 20 years when they sell it and make millions. That's why landlording should be viewed as an investment, not a job. It as a side gig works, then in 20 years you cash out.
These giant corporations that have made a ridiculous industry of buying all the homes and property in small towns and charging exorbant prices should be hanged.