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?
I fundamentally disagree with that.
Venture Capitalism is parasitic. But Capitalism itself is not at all. At it’s heart, if we continue with the landlord analogy, let’s say that you are renting a house from the OP’s Aunt. She’s paying the building insurance. She’s paying the maintenance, (or in some good old fashioned cases doing it themselves). She’s dealing with the paperwork involved in owning a home. Hell, in some cases you don’t even have to mow your own lawn. So of course she’s charging you rent. It’s not a charity.
But if she’s a private owner, than your rent stays with her. She uses what she needs to maintain the building and…yes…makes a profit that then gets spent in the local economy.
The only time there’s an issue is when your rent is being sent to a corporation that may not even be in the same country as you, and that money leaves your local economy for good.
To use an anecdotal example, I’ve worked in my time for two different furniture stores in my town. One was a chain, and one was/is a family run operation from the beginning. And yes…that family is wildly successful; I’m not guessing millionaires, but close to it. And I don’t begrudge them at all for that. Because it’s family owned, they aren’t forced to only care about a stock price or about profit. My boss would randomly come up to me, sometimes multiple times a year, clap me on the back and say “You’re doing a good job, I’m going to add a buck an hour to your wage.”
Because they can. Because for all intents and purposes, you’ve got a better chance to be treated like a human being when a corporation isn’t in the way.
The chain furniture store would only give out raises when forced to by government mandated cost of living increases, because anything more would cause the stock price to go down.
The heart of capitalism is my first example. The reality of capitalism is my second unfortunately. But that’s not the fault of capitalism itself, it’s the lack of government oversight protecting us from predatory corporations.
I remember when I used to be naive enough to believe this.
The predatory corporations succeeding is capitalism succeeding.
Yeah wholesome mom and pop businesses getting eaten by larger, more specialized and efficient corpos is not a bug, it’s an inherent feature of capitalism. A worker at a specialized firm can manage dozens of apartments for the same salary as your aunt managing just one or two- she stands no chance in the long run. Same for retail stores and most other kinds of businesses really.
The only solution is democracy- having the larger more efficient firm be democratically owned by its workers and accountable to them and through them the community, rather to a cigar chomping investor hundreds of miles away
Oh wow, she has to do up to 40 whole hours of work a year, she totally deserves a full time salary for that!