I got up at 4:00 this morning and spent 10 hours working for the postal service, my wifes a highschool teacher. We are shopping for a modest family home and plan to keep the starter unit we bought 10 years ago and rent it.
All of a sudden I dont work for my money any more? I’m part of the elite upper crust of society? No, Im just trying to do what nobody in my family line has ever done which is make sure their kids arent starting at broke.
You’ve also taken that starter home off the market, preventing someone else from being able to own a home and follow your path to ownership of a forever-property.
If it’s not unethical at one rental property, when is it? Two? Three? Five?
No argument, but there does need to be a certain rental market density. Not everyone wants to own, thats why we bought an easy to maintain unit near a university. Air BNB, holiday homes and “property parking” are the ones taking things out of circulation.
Answer me this. Why should I take on the moral burden of the ethics and not a property group that owns literally hundreds of properties? Thats what I’m saying, these “landlord” memes seem to be trying to make me making a good choice as one family unit a despicable act in the eyes of “working people” when the people with real money and real power who have no shame and dont care just sieze the opportunity if I dont.
Nothing wrong with being a landlord. There is a problem with being a tosser.
The landlord/tennant relationship seems to be different to every other business relationship. The landlord always seem to think they are doing the tennant a service by allowing them care for the house. The reality is that the tennant is exchanging large sums of money for a service.
Deep cleaning ready for the next tennant is the landlord’s problem, not the tennant.
All maintenance of the infrastructure of the house (walls, water, heating, etc) is the landlord’s problem. This includes modernisation. No rental property in 2023 should be without structured cabling and modern electrics for example.
The tennant is not there to pay the mortgage. The landlord may lose money at times and that is just the cost of doing business.
Fixing houses is already a job. It’s called being a repairperson. Some landlords work as repairpeople in addition to being landlords, and that’s great, because the repair work is the only part that’s actually a job. Plenty of landlords contract it out and only do the job of landlording, which is sitting on your ass.
There is this popular misconception that real estate “is forever, like diamonds”, that its value can only go up… even when it lies in ruins after years of neglect, or gets eaten by termites, burnt in a fire, bombed away… no matter! “The value can only go up!” 🙄
Well, no. Real estate is a perishable product, it takes decades to perish, yet ultimately it does. It requires constant maintenance, aka constantly spending money on it in order to keep its value. It’s a shitty generational investment… unless you’re into predatory practices that will make your tenants pay for the deprecation, or even better, pay the mortgage for you.
You want a place to live in, it makes sense to buy it. If you buy a place to live off, then you’re either scum or a fool.
A landlord and their tenant(s) are at a natural conflict of interest to begin with.
Also, for most tenants, the rising costs for many goods and services associated to housing are bundled into rent, so to them, it’s their landlord who’s jacking up prices and being frugal with repairs etc.
Next, the term “landlords” encompasses not only uncle Mike who invested his life savings in two apartments to secure his retirement, but also the millionaire who owns a dozen houses and the middle manager who doesn’t even own the units they’re managing but has to represent a large company.
So landlords make for easy targets of frustration to begin with.
A landlord who is, on top of that, intent on not only covering costs (including their own), but wants to create generational wealth get rich(er) quickly, will have to squeeze their tenants more.
Remember: wealth isn’t created. It’s extracted.
(Yes, there’s money genuinely being generated somewhere in the realms of credits and banking, but my LL isn’t being paid by a bank. They’re being paid by me.)
To your last point: money being created != Wealth/value creation; it’s more like wealth redistribution (if you create a thousand bucks out of thin air, in an economy of a trillion it’s small potatoes - but it does add up fast and affects everyone).
There absolutely is value in banking, but it’s not nearly enough as much as advertised.
There’s some clarity lacking for sure.
I think most people here agree that owning as much real estate as possible being a good investment, is problematic for society and should be done away with. Also that people should vote to get this system changed such that hoarding homes is not a financially good idea. This comic represents the animosity that exists between people that want to take advantage and advance the current system, and the people that hate the current system.
That being said, the rules of the game dictate, if you want to make a lot of money, buy homes.
deleted by creator
If you’re a landlord you’re not working class by any definition.
Bullshit.
I got up at 4:00 this morning and spent 10 hours working for the postal service, my wifes a highschool teacher. We are shopping for a modest family home and plan to keep the starter unit we bought 10 years ago and rent it.
All of a sudden I dont work for my money any more? I’m part of the elite upper crust of society? No, Im just trying to do what nobody in my family line has ever done which is make sure their kids arent starting at broke.
You’ve also taken that starter home off the market, preventing someone else from being able to own a home and follow your path to ownership of a forever-property.
If it’s not unethical at one rental property, when is it? Two? Three? Five?
In Europe, maybe yes this would make sense.
But in the US? Not a chance, there’s so much space you’re not taking anything from anyone.
No argument, but there does need to be a certain rental market density. Not everyone wants to own, thats why we bought an easy to maintain unit near a university. Air BNB, holiday homes and “property parking” are the ones taking things out of circulation.
Answer me this. Why should I take on the moral burden of the ethics and not a property group that owns literally hundreds of properties? Thats what I’m saying, these “landlord” memes seem to be trying to make me making a good choice as one family unit a despicable act in the eyes of “working people” when the people with real money and real power who have no shame and dont care just sieze the opportunity if I dont.
you’re doing less of the same thing the huge property groups are doing, but you’re still doing it
Nothing wrong with being a landlord. There is a problem with being a tosser.
The landlord/tennant relationship seems to be different to every other business relationship. The landlord always seem to think they are doing the tennant a service by allowing them care for the house. The reality is that the tennant is exchanging large sums of money for a service.
Fixing houses is already a job. It’s called being a repairperson. Some landlords work as repairpeople in addition to being landlords, and that’s great, because the repair work is the only part that’s actually a job. Plenty of landlords contract it out and only do the job of landlording, which is sitting on your ass.
There is this popular misconception that real estate “is forever, like diamonds”, that its value can only go up… even when it lies in ruins after years of neglect, or gets eaten by termites, burnt in a fire, bombed away… no matter! “The value can only go up!” 🙄
Well, no. Real estate is a perishable product, it takes decades to perish, yet ultimately it does. It requires constant maintenance, aka constantly spending money on it in order to keep its value. It’s a shitty generational investment… unless you’re into predatory practices that will make your tenants pay for the deprecation, or even better, pay the mortgage for you.
You want a place to live in, it makes sense to buy it. If you buy a place to live off, then you’re either scum or a fool.
Diamonds aren’t even that rare. The only reason they’re that expensive is because of marketing and corruption.
A landlord and their tenant(s) are at a natural conflict of interest to begin with.
Also, for most tenants, the rising costs for many goods and services associated to housing are bundled into rent, so to them, it’s their landlord who’s jacking up prices and being frugal with repairs etc.
Next, the term “landlords” encompasses not only uncle Mike who invested his life savings in two apartments to secure his retirement, but also the millionaire who owns a dozen houses and the middle manager who doesn’t even own the units they’re managing but has to represent a large company.
So landlords make for easy targets of frustration to begin with.
A landlord who is, on top of that, intent on not only covering costs (including their own), but wants to
create generational wealthget rich(er) quickly, will have to squeeze their tenants more.Remember: wealth isn’t created. It’s extracted.
(Yes, there’s money genuinely being generated somewhere in the realms of credits and banking, but my LL isn’t being paid by a bank. They’re being paid by me.)
To your last point: money being created != Wealth/value creation; it’s more like wealth redistribution (if you create a thousand bucks out of thin air, in an economy of a trillion it’s small potatoes - but it does add up fast and affects everyone).
There absolutely is value in banking, but it’s not nearly enough as much as advertised.
There’s some clarity lacking for sure. I think most people here agree that owning as much real estate as possible being a good investment, is problematic for society and should be done away with. Also that people should vote to get this system changed such that hoarding homes is not a financially good idea. This comic represents the animosity that exists between people that want to take advantage and advance the current system, and the people that hate the current system. That being said, the rules of the game dictate, if you want to make a lot of money, buy homes.
The system kinda breaks down when normal people stop being able to afford homes