Not ethical, yes pos
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One aspect not mentioned is that sometimes, second homes are in places that have a good supply of houses available. This makes them cheaper, and easier to afford. It also has more potential to grow in value down the road. If that's the case, no issue. If not, it's complicated.
To be honest, the mix of it is, I understand the concept of your hardwork going to essentially a pension for yourself. Which is what historically reliable invests typically amount too, but I also see removing access to liviable land and the houses on them as unethical in a world where people don't have housing.
I would prefer more modest investments like loans to cooperatives, government bonds, and mural funds over it and instead choose to take the surplus value to create things like community land trusts or housing coops to make where you live more safe and sustainable.
There is also the choice to invest in micro generation of energy, community or personal gardens, home effeciciny, and making your home handicap friendly (which is a huge help as we age). Of course paying off debts can also be a great place to invest in to lower your liability.
Just my plans and thoughts.
Why would you give a shit what anyone thinks? Charge a fair price, give them what they paid for. Don't be bloodsucker leach and follow your conscience.
I believe business should be limited in ownership of single family homes for sure.
Whenever this comes up I find people are incapable of grasping the scale of the issue.
Owning a second home isn't unethical. I think a rental market in an economy is healthy. This can be provided by individuals or companies.
The issue is supply and demand. The houses cost that much because people will pay it. Why? Well there isn't enough for everyone. If renting was banned housing numbers would drop. It would short term help some people buy a house but more people would be out on their arse than magically in a house they own. The issue is then increased in the next generation. Banning renting is not the answer.
Why is there a supply and demand issue? Because people with wealth want to keep it that way. If someone lives in a house and intends to say in it until they die it doesn't matter if their house is would 0 or value of an entire country. People buying and selling for a profit in the future is the issue not renting. That profit is only their with supply and demand issues getting worse so no new houses can be built. This means zoning laws, no higher density when a city gets 100x more people and no building on greenery meaning the city can't go up or out (going up is much, much better). No new cities are built. Then for demand issues population must go up at all costs, so immigration is a must. These same people have businesses usually so this is good because it can also keep wages down by getting people in from the third world and keeping house prices high and wages low.
Then there is the issue of debt and intergenerational transfer of wealth from the young to the old. Which really fucks with an economy and society at large when you think about it.
The solutions are this. The world and countries are finite, population would ideally go down. There is demand for high density buildings. Build it, knock down entire areas and rebuild. Build a new city, build more public transport to nearby towns that can be commutable. Just build! The young start off in debt and give money to corporations or the older generations that have no debt and everything they need for life. The youth need things so give it to them. Even low government loans or even better money. You need 20% deposit get a cash transfer from the government at say 25 worth 20% of an average house national wide. That will sort out the problem.
There is so so much money held up in mortgages and rent that if houses prices collapsed a lot more people would have a lot more discretionary income to spend and that would grow the economy.
Every restaurant and store that fails fails because of rent. Owning a property you're not living out of or doing business in should be illegal.
There are three aspects of the economy. Labour, capital, and landowner. Of the three only landowner contributes nothing.
Idk, I think the restaurant Don Pancho owned failed because of the roach infestation my comadre reported.
We have this nightmare in the UK. I'm very fortunate to have a small house just about paying mortgage on a tiny wage, but not really big enough to rent a room. I feel bad for people in their 40s (even couples) who can't afford a starter home because all the properties are locked up in a rental market.
I think owning anything more than your primary home as a residential unit is unethical.
I don't consider it unethical. For example if my father dies and I inherit his house where I grew up, he grew up, his father grew up and his grandfather built. That house has a lot of sentimental value in it. I have settled down very far from there. What am I supposed to do? Throw away the family legacy or uproot my entire life?
I think as long as I don't rent it out it's acceptable to own it. It's just extra cost for me to keep something of sentimental value in the family. I'd even be okay with paying extra tax on it considering I think every house you own that you don't live in should be taxed extra.
I would say owning it while not using it very much and not renting it out is the least ethical choice as no one can use that house.
The most ethical option besides not owning it is renting it out at a reasonable price, so someone else can live there and you are not squeezing every last dollar out of them.
I guess I should've specified. I don't think it's rent-able. It's more than a 100 year old house in the middle of nowhere with more than 100 year old plumbing (hint, no plumbing), no internet outside of mobile network which is also very flaky since there aren't many cell towers nearby, water comes from a nearby well which limits the amount of water you can use because it's not a deep well and the list goes on. It's not a modern house that's going to just sit empty, it's a relic from a different era where the main value the house has is of sentimental value. If it was to get sold the next "owner" would most likely tear down the house and turn the entire plot of land into agricultural land.
If it was a decent apartment somewhere where people would actually want to live I'd absolutely "rent" it out. Not take any profits from it, put a bit to the side in case something breaks and if they leave without breaking anything they get their money back.
Ok, thats a bit different, if the house is somewhere where noone wants to live anyway (and if they want there are enough options available), then it really is ok morally, at least for me.
One could argue that the space should be used for farming, but that depends on how big the property even is if that makes a difference at all.
If it has a really big property with lots of grass it would be a good thing to rent that part out to a farmer. If it is more of a forest its probably better if it stays that way.
Ah yes, your family legacy of a house no one lives in is more important than a human beings ability to have shelter
Perfect is the enemy of good. You're not at home while you're working and if you do full time then a third of the day you're not using your home, why don't you let others use your home while you're not using it? You're also putting your individual needs above giving someone else shelter, the only difference is where you've drawn the line.
You're gross
Right, so tell me what is the course of action?
Don't own more than one house. Why is that so hard for you people to understand
This is why nobody listens to people like you. Someone has a legitimate grievance trying to do what you want them to do and what is your response? Completely ignore the grievance and go "I can't believe how fucking stupid you are, just do the thing." Really helpful.
The desire to hoard unused property when other people are struggling to find a roof to live under is not "legitimate." In fact, it is an entirely illegitimate and selfish grievance.
The desire to not let people live in your place while you're at work is in fact entirely illegitimate and selfish.
I wouldn't mind that also. I think a decently sized land value tax is the way to go so that land area isn't just used as parking because the person still makes a ton with increase in land value.
No. Unless it's like a family situation where it requires it I think it's unethical. People live in tents in the park in my city because housing is scarce and wildly expensive. It's not right to be able to hoard property.
Unfortunately op asked two inverted questions so no could mean not ethical or no not a POS, or, somehow, unethical but not pos.
I don't think so. People need homes, but not all people can buy homes. If you can afford to maintain the property to a reasonable level without completely gouging your tenants, I think you're providing a valuable service to your fellow citizens.
We don't get along, but my landlord is an old lady who bought 2-3 blocks of apartments after her husband left her a bunch of oil money. She keeps up the grounds (for the most part) and my rent has been pegged to inflation since I moved in. If people like her didn't exist, people like me would be stuck renting from a big property company.