I think a lot of people here have it too black/white.
Earning money by owning property doesn’t automatically make someone a leech. Sometimes, people want the option to live somewhere without needing to take on the responsibility/risk of tying down assets in a house. Often, it’s because you’re new in town and haven’t decided where to settle, or because you’re in a situation where you’re moving a lot, and don’t want to have to deal with buying/selling something worth a lot of money every time you move.
In these kinds of situations, you can see renting as a situation where you’re paying someone for taking on the risk, responsibility, and maintenance costs of owning the infrastructure. At a proper price, this can be an absolutely fair deal, that doesn’t involve anyone being exploited.
Note that I’m not defending the scalping assholes that exploit people who can’t afford to get into the housing market here. I’m simply pointing out that, even for someone who can afford to buy, there are legitimate reasons to rent, and renting out property at a fair price can absolutely be a decent practice that leaves everyone happy.
I don’t think most people really think a vacation home or single rental makes you a leech, but when your entire portfolio is single family 2-3 bedroom houses you’re kind of sucking the air out of the local market. I know in my city there are tons of “small landlords” with less than 30 houses, half of them don’t even live in the city but in ex-urbs an hour away. They don’t do anything for the neighborhoods and see their income stream as completely legitimate.
Technically, I guess so, you’re profiting just by owning the property. And having tenants exactly balancing out the costs of owning property.
Morally? Fuck no. What you’re doing you are doing to survive, not to live excessively.
I think a lot of people here have it too black/white.
Earning money by owning property doesn’t automatically make someone a leech. Sometimes, people want the option to live somewhere without needing to take on the responsibility/risk of tying down assets in a house. Often, it’s because you’re new in town and haven’t decided where to settle, or because you’re in a situation where you’re moving a lot, and don’t want to have to deal with buying/selling something worth a lot of money every time you move.
In these kinds of situations, you can see renting as a situation where you’re paying someone for taking on the risk, responsibility, and maintenance costs of owning the infrastructure. At a proper price, this can be an absolutely fair deal, that doesn’t involve anyone being exploited.
Note that I’m not defending the scalping assholes that exploit people who can’t afford to get into the housing market here. I’m simply pointing out that, even for someone who can afford to buy, there are legitimate reasons to rent, and renting out property at a fair price can absolutely be a decent practice that leaves everyone happy.
Thank you.
I don’t think most people really think a vacation home or single rental makes you a leech, but when your entire portfolio is single family 2-3 bedroom houses you’re kind of sucking the air out of the local market. I know in my city there are tons of “small landlords” with less than 30 houses, half of them don’t even live in the city but in ex-urbs an hour away. They don’t do anything for the neighborhoods and see their income stream as completely legitimate.