this post was submitted on 09 Dec 2024
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No Stupid Questions

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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?

(page 3) 50 comments
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[–] DrFistington@lemmings.world 21 points 1 month ago

Typically small landlords (I was one) are not the problem, But they aren't making things any easier. They still take up houses that they don't need that should be on the market, and they charge about twice what thier mortgage rate is to renters, which then artifically inflates housing prices, while also restricting home inventory. People with a handful of properteries aren't really the main driver of the issues though. One corporate landlord with 500 properties would do much more damage, but they all harm the market to an extent.

[–] splonglo@lemmy.world 5 points 1 month ago

Well the proper lefty take is supposed to be that the system is bad - not that anyone who profits from the system is a bad person.

[–] JcbAzPx@lemmy.world 14 points 1 month ago

I'm sure your aunt doesn't mean any harm, but she is still part of the problem. Those 3-5 properties are 3-5 fewer homes available to own for new families and are a small part of perpetuating the housing crisis.

[–] _cryptagion@lemmy.dbzer0.com 12 points 1 month ago

There are no good landlords. Every small landlord contributes to the housing crisis by hoarding housing that should be on the market for new buyers.

[–] SocialMediaRefugee@lemmy.world -5 points 1 month ago (1 children)

They mean anyone with more stuff than they have.

[–] PixellatedDave@lemmy.world 11 points 1 month ago

My biggest gripe is the system. I am deemed not financially able to own a mortgage but I am deemed able to pay nearly double to pay off someone else's mortgage.

Yes I am bitter and I don't see why someone should be able to make money off me like this.

[–] Blackmist@feddit.uk 17 points 1 month ago (1 children)

Yes, but I don't blame the small ones for it.

If you can make a profit by hoarding properties and renting them out, then the system is broken.

The large ones are the ones lobbying for the systems to remain broken.

[–] IDKWhatUsernametoPutHereLolol@lemmy.dbzer0.com 2 points 1 month ago (1 children)

If you can make a profit by hoarding properties and renting them out, then the system is broken.

Yea, to me, it seems like the root cause of this issue is capitalism, landlords existing is merely the symptom of the larger issue.

[–] Blackmist@feddit.uk 2 points 1 month ago

It was always a mix of government and private businesses providing. But at some point the UK decided to leave it to Maggie Thatcher's vaunted free markets to pick up the slack.

Arrested Development Narrator: They did not pick up the slack.

[–] Draedron@lemmy.dbzer0.com 17 points 1 month ago (1 children)

Especially those that own a couple houses as "investment". Housing should not be an investment. With the big companies you could argue at least that they are also building houses, which we need since the government wont build enough. Not saying they arent parasites either though.

Especially those that own a couple houses as “investment”

I agree, housing shouldn't be an investment. But I also think utilities should not be a "for profit" bussiness. I think clean air and water should be a human right, as with food. I think UBI should be a thing, basically most of capitalist stuff should go away.

However, people in a capitalistic world we live in grew up and taught by society with the idea that everything you can legally buy is a legit investment. This isn't really the individual's fault, this is society's fault for telling everyone its okay to use housing, water, food, utilities, healthcare, and everything else, as a way to earn profits.

Like I think we cant really blame any individual, but its the fault of capitalism as a whole.

[–] MrNobody@sh.itjust.works 12 points 1 month ago (1 children)

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.

[–] SocialMediaRefugee@lemmy.world 0 points 1 month ago

Most people in Europe rent. It actually has advantages over owning depending on your situation.

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