Reason I’m asking is because I have an aunt that owns like maybe 3 - 5 (not sure the exact amount) small townhouses around the city (well, when I say “city” think of like the areas around a city where theres no tall buildings, but only small 2-3 stories single family homes in the neighborhood) and have these houses up for rent, and honestly, my aunt and her husband doesn’t seem like a terrible people. They still work a normal job, and have to pay taxes like everyone else have to. They still have their own debts to pay. I’m not sure exactly how, but my parents say they did a combination of saving up money and taking loans from banks to be able to buy these properties, fix them, then put them up for rent. They don’t overcharge, and usually charge slightly below the market to retain tenants, and fix things (or hire people to fix things) when their tenants request them.

I mean, they are just trying to survive in this capitalistic world. They wanna save up for retirement, and fund their kids to college, and leave something for their kids, so they have less of stress in life. I don’t see them as bad people. I mean, its not like they own multiple apartment buildings, or doing excessive wealth hoarding.

Do leftists mean people like my aunt too? Or are they an exception to the “landlords are bad” sentinment?

  • MrNobody
    131·
    2 days ago

    The worst thing about investment properties is that it raises for bar for entry into owning a home for others. Lets say someone started renting, got some capital together got a house paid it off through hard work. Kudos, thats cool. Then they buy a second house and use the rental income to pay the mortage or whatever. Over time buying more and more. Eventually it’s not feasible for people starting out to do the same thing. The owners all own and have multiple streams of income, allowing them to own more and pay more. Pushing up prices and edging out new home owners. Go back 20-30 years and see the difference. It used to be possible for single income households to buy a house but not anymore. Shit, its getting to the point where dual income households are starting to struggle.

    Then theres the airbnb effect. Some houses on airbnb and similar are close to the areas weekly rental price for a night. Even if its hald the weekly rental cost for a night, thats still less than 3 months they need to ‘lease’ out the house to break even with a tradional rental. Some places have absolutly shit rental access due to the abundance of short-term stays. This too, causes rental prices to increase.

    Look at the homeless problem that is going on in most western natiions, this isn’t the traditional homeless issue caused by drugs or debt or what ever bad outcomes there are. It’s a supply issue, caused by too many houses in too few hands. You have working families living in cars or tents all because there is nowhere to live. Which again, leads to higher rental prices due to lack of supply.

    Nobody should own more than one house, and if they do, the rent should not cost more, or even equal to a mortage on the house. Rentals should be stepping stones for people after they first move out of home, or seperate from a partner or move locations. They shouldn’t be a thing that people have to live in all their lives.

    Also, leftist… ffs. grow up.