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Rent is theft

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Submitted ⁨⁨2⁩ ⁨weeks⁩ ago⁩ by ⁨zedgeist@lemmy.world⁩ to ⁨aboringdystopia@lemmy.world⁩

https://lemmy.world/pictrs/image/2c927418-7320-4c84-b862-fee6b7d49ab1.jpeg

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Comments

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  • cikano@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    I’m surprised so many people are running defence for landlords in the comments

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    • hobovision@mander.xyz ⁨2⁩ ⁨weeks⁩ ago

      Look I’ll be honest, as a renter, I’ve not heard a realistic alternative that I like better. Do I think landlords should be better regulated? For sure. Do I think housing should be a right, and free, high quality housing should be available everywhere to anyone who wants it? Yes, please!

      I like the option to rent a place that’s even better than what the baseline option would be. I like that I can move around as I need to. I like that I can get a bigger, better, or just different, place when I have the funds. I like that I never have to deal with broken appliances or roof repairs and get to pick the type of place I want to live in.

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      • SoleInvictus@lemmy.blahaj.zone ⁨2⁩ ⁨weeks⁩ ago

        Easy - do it 1970s style. You own a home but pay less than half of what you do now. The extra savings go toward home maintenance and lifestyle improvement.

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      • LadyAutumn@lemmy.blahaj.zone ⁨2⁩ ⁨weeks⁩ ago

        Why would you prefer a landlord to just you save that money yourself? Like at best its probably a third of your income if youre working class? At worst its probably 60% or more. If you’re on any kind of social assistance rent is probably almost all of your income. Hurray! No food for you mister, the poor landlord needs that pittance you receive.

        You would have effectively 133%-180% of the income you do now. For me that’s an increase of over a thousand dollars a month. I could afford all the appliances and roof repairs in the world with that kind of money. I would still walk away with so much extra money its a joke. You have been entirely misled about how much rent takes out of your income. They will steal hundreds of thousands of dollars from you over your life time, maybe even more depending on what you pay.

        Renting exists because renters cannot advocate for themselves. It exists because people who become land owners escape the renting class and pretty much immediately turn their backs on it. No longer their problem. Because propaganda has taught them to not have solidarity with their fellow workers. Homelessness is an entirely preventable issue and is inseparable from the problem of landlords.

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      • Rivalarrival@lemmy.today ⁨2⁩ ⁨weeks⁩ ago

        I like the option to rent a place that’s even better than what the baseline option would be. I like that I can move around as I need to. I like that I can get a bigger, better, or just different, place when I have the funds. I like that I never have to deal with broken appliances or roof repairs and get to pick the type of place I want to live in.

        You are describing either a “land contract” or a “condominium”. With either, you gain equity in the property.

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      • Quadhammer@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        Paying half if not more of your monthly salary for a shitty place to live is horse shit

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      • return2ozma@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        Vienna social housing model is what we need. Nearly 60% lives in public housing there.

        youtu.be/MxuACFQBwxs

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      • Taldan@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        The renter system is fine in my opinion

        It’s the result of the power imbalance that creates the problems. Specifically that property owners hold all the power and have structured society in such a way that housing is artificially scarce and more difficult to build than it should be, which has led to inflated prices

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      • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        that’s what everyone wants.

        that’s also why housing is so expensive. people are willing to pay a lot of money to live in high quality housing.

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    • PM_ME_VINTAGE_30S@lemmy.sdf.org ⁨2⁩ ⁨weeks⁩ ago

      I’m not lol. .world is basically Reddit 2.0, warts and capitalists included 😆

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      • BenderRodriguez@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        You Tankies live outside of reality.

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    • lobut@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

      A lot of these people are likely tech folks. A lot of tech folks get high paying jobs. They used that pay to buy property.

      A lot of these guys are landlords and are trying to convince people that the rent they charge is fair, market rate, and a favour because they’re taking on “risk” while you pay for their mortgage.

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      • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        a lot of tech folks don’t have great high paying jobs. only a small subset of them do, most of whom, were already rich before they got those jobs because they came from wealthy families.

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    • titanicx@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

      Hey I’m not really worried, my landlord is actually really cool. The place I live in is actually better than the place he lives in. My rent is well well below market rate for what I should be paying. I lived in the same place for the past 11 years and he’s only raised my rent twice for less than $200 total. Not all landlords are bad, not all of them are in it just to get rich. And not all of us would be able to buy a house regardless of paying rent or not. And I’d much rather pay rent to somebody for a nice place to live then be living in a tent by the river.

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      • Donkter@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        Damn, you’re right. It’s like how I’m not worried about wealth inequality because I lucked out and have a steady 60k a year job with a nice employer. Not all employers are bad.

        Or how I don’t give a shit about abortion because I made the stone-cold choice to not be a woman.

        When things aren’t affecting me they don’t matter so why are people making a big deal about it?

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      • ArcaneSlime@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

        Nope, gotta kill your landlord and then get in a shootout with the cops when they come to his your house, you heard the tankies. Time to die for their values soldier!

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    • GreenShimada@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      People aren’t defending landlords per se. People are defending the opportunities afforded by having extra space and letting someone else pay what it costs to live there.

      Renting as a concept goes back to antiquity, and this is an absolutist stupid take that makes it sound like OP doesn’t understand how real life works.

      Not everywhere is a large city. Not all renters live in the same place for 20 years. Not all landlords are evil shitbags or faceless corporations. Sure, plenty are. Some are just families that are lucky to not have to sell their house if they move for work that lasts only a couple years.

      I end up moving every couple of years, and so I’ve had to sublet the last part of a lease I’ve had, and gladly rented places from friends, random people on Craigslist, whatever, for weeks or months at a time. So I’m a thief because I sublet an apartment for 3 months? So dumb.

      Long-term renting is really more the issue as landlords do just sit and leech and renters get nothing to show for it. But the fact remains that renting a room or an apartment is something that has since literally ancient times made more sense than huge amounts of unused housing you aren’t allowed to use. So this is actually a nuanced argument against a particular class of people and corporations. Meaning that the premise is flawed enough for most people to roll their eyes and ignore it.

      The whole “rent is theft!” trope doesn’t even make sense from a political messaging viewpoint. What’s your suggested alternative? That’s not apparent at all. So this ends up sounding like saying “I want hot spaghetti for dinner!” and just expecting it to happen.

      Also, a rather large number of people have rented something out, rented a room out, etc. thanks to AirBnB that this messaging makes enemies out of a whole lot of normal people by using absolute terms. People like me ask “Did my friends that helped me out steal from me? Of course not.”

      If you think that anyone who thinks a reasonable exchange of a service for an agreed up on fee are committing theft, then you’ve alienated 98% of people with the premise alone by calling them criminals.

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      • Riverside@reddthat.com ⁨2⁩ ⁨weeks⁩ ago

        Six paragraphs of you not understanding the issue: the problem is not the concept of renting a living space for a given time, the problem is private rent, i.e. rent for the landowner’s profit.

        Every single problem with current rent could be solved by socializing housing and making it available to rent at production+maintenance prices, and people could still move freely without being tied to a house in particular, without the risk of being evicted, would be able to paint the walls and have pets…

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      • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        thanks for the detailed and explanatory response. love to see more of this commentary on lemmy rather than the ‘rent is evil’ crap that goes on around here.

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    • Alaknar@sopuli.xyz ⁨2⁩ ⁨weeks⁩ ago

      My initial reaction was the same, to call OP a baby, etc. The problem isn’t rent. It’s landlord leeches.

      I have an apartment in one country but moved to a different country, where I’m renting myself. I had two choices - either rent my first apartment to someone, or sell it. If I sold it, it would go not to a family in need, but to a BnB company or an “investor” (that’s the reality in my home country).

      Instead I’m renting it to a family of Ukrainian refugees. They basically pay off my mortgage so that I’m not actively losing money on the whole thing.

      They also pay rent to the housing association. This money goes to things like trash removal, hot/cold water, taking care of the green areas in the neighbourhood, cleaning the staircases, etc., etc.

      Is this so bad and horrible?

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      • Rivalarrival@lemmy.today ⁨2⁩ ⁨weeks⁩ ago

        Is this so bad and horrible?

        Yes.

        Instead I’m renting it to a family of Ukrainian refugees.

        You are actively exploiting refugees.

        You are no different than the BnB or the investors. You are on the supply side of the problem. Rent is, indeed, the problem.

        You could offer to sell your property to those tenants. You could act as a private lender, allowing them to pay you instead of a commercial bank. You could offer them a “land contract”, which is a rent-to-own arrangement. If they choose to leave your property in the next three years, it was no different than a rental. If they choose to stay beyond three years, it automatically converts to a private mortgage, and they begin earning equity.

        They basically pay off my mortgage so that I’m not actively losing money on the whole thing.

        Leaving it vacant and just paying the mortgage yourself, you are gaining equity in exchange for your money. You are not losing anything. Renting, you are gaining that equity without paying for it.

        The only way renting isn’t a problem is if the rent is far less than a mortgage payment on the same property.

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      • Riverside@reddthat.com ⁨2⁩ ⁨weeks⁩ ago

        I’m renting it to a family of Ukrainian refugees. They basically pay off my mortgage

        Holy fuck, my sides. How can you be this BLIND to reality?

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      • AntiOutsideAktion@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

        “But if I wasn’t a parasite someone else would be so that makes me good”

        They basically pay off my mortgage

        How generous of you!

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      • Not_mikey@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

        if I sold it, it would go not to a family in need, but to a BnB company or an “investor”

        You know you can choose who to sell it to, you can reject offers from investors. The family in need may not get you the highest price but reducing the price makes housing more affordable, at the expense of your bottom line though.

        Sure the family could’ve tricked you and sold it right back to an investor but with closing costs, fees etc. it would make it hard to make a profit by doing that.

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      • jabberwock@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

        The economists’ answer is that renting exists for the people in this situation. You may be moving to another country for a year or two. Are you going to buy a new house every time you move? Renting gives flexibility in that regard.

        Likewise for refugees, putting them up in a rental is a more efficient solution than building new housing for each family.

        That said, the model provides an inherently exploitative market and needs some kind of overlay to function efficiently, which in most US cities it doesn’t at all.

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      • 87Six@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

        While you are undoubtedly better than what I’m about to say… I still wouldn’t say you’re a good guy in this instance.

        But, the real massive issue I see here is that big companies and rich douchebags use owning land and housing solely for profit. THAT should be illegal.

        Renting out property between individuals should pe perfectly legal though, as long as some now-inexistent laws are followed, like not being able to hoard housing for rent money.

        Renting solely for profit should be illegal.

        Renting just to be able to keep a property that you may need in the future should be legal.

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    • jimmy90@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      we don’t have this fundamentalist religious idea that rent is usury

      more conformation of the religious nature of the commies

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      • AntiOutsideAktion@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

        The parasite

        The

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  • Korhaka@sopuli.xyz ⁨2⁩ ⁨weeks⁩ ago

    As Churchill put it…

    Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains — all the while the landlord sits still. Every one of those improvements is affected by the labor and cost of other people and the taxpayers. To not one of these improvements does the land monopolist contribute, and yet, by every one of them the value of his land is enhanced. He renders no service to the community, he contributes nothing to the general welfare, he contributes nothing to the process from which his own enrichment is derived…The unearned increment on the land is reaped by the land monopolist in exact proportion, not to the service, but to the disservice done.

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    • KryptonNerd@slrpnk.net ⁨2⁩ ⁨weeks⁩ ago

      Not usually a fan of Churchill, but that was great

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    • AnotherUsername@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

      Churchill never had to learn plumbing in a rural area of a state because he had to do the work himself because there was nobody to do it for him.

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      • Korhaka@sopuli.xyz ⁨2⁩ ⁨weeks⁩ ago

        Landlords using unqualified labour to cut costs? Yeah, I know that experience very well, it could have killed someone.

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  • Virtvirt588@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    These days it is hard to own a house, its like the system is designed to cater to the burguoise - because it is. Regular people cant have their own personal ownership because capitalist leeches known as landlords exist.

    The system feeds on the profiting of others misfortunes.

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    • xtr0n@sh.itjust.works ⁨2⁩ ⁨weeks⁩ ago

      I’m very lucky to have my own house. The number of spam calls I get from randos trying to buy houses is staggering. Some are obviously from call centers. I don’t understand how it makes financial sense to pay people to cold call every fucking homeowner in the US constantly in the hopes that they catch someone looking to sell quickly (and cheaply?). WTF is their endgame?

      I kinda want to get everyone on board with refusing to sell single family houses to anyone who isn’t going to live there as their primary residence. Back in the not so old days, people would refuse to sell to “undesirables” because they didn’t want to tank property values, which would also carry significant reputational harm. We need to use that energy for good.

      In theory, developers who would replace single family houses with multiple houses, townhomes or condos would be OK. We do need more housing in general. Although, IDK if real estate developers are a trustworthy bunch.

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      • grue@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        In theory, developers who would replace single family houses with multiple houses, townhomes or condos would be OK. We do need more housing in general. Although, IDK if real estate developers are a trustworthy bunch.

        Trustworthiness of developers is a moot point because exclusionary zoning laws prohibit that replacement in the vast majority of urban areas anyway.

        That’s what so many people in this thread don’t get: the law, designed to give even more privilege to already-privileged single-family homeowners, creates literal housing shortages (in the places people actually want to live, because housing is not fungible between locations), and then they somehow confuse that government mandated distortion of supply vs. demand as “capitalism.” They keep blaming “foreign investors” and other scapegoats, but they’re not the real cause of the problem.

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    • MyMindIsLikeAnOcean@piefed.world ⁨2⁩ ⁨weeks⁩ ago

      Indeed. The system is currently set up to prevent people who aren’t already earning rent from acquiring property to earn rent.

      instead of encouraging citizens to buy one property to rent it out…at a reasonable price, perhaps…and have a relationship with their tenant…our system punishes small owners or people trying to enter the market and rewards those who already have the wealth.

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    • kameecoding@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Or more like we let firms own private homes and that fucked the market together with Airbnb

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  • Ogy@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Y’all are missing something imo. Landlords are artificial demand - they drive up the housing prices for everyone, including home owners.

    The argument that it costs to maintain a home blah blah is BS - if it wasn’t profitable then the landlords sell it. They’re not being charitable. They make a profit and it comes out of poor people’s wages.

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    • Canconda@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

      Every city should have a Municipal Housing Corporation. Basically an entity that takes advantage of economies of scale and collective buying power to provide housing at below market rates.

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  • jwiggler@sh.itjust.works ⁨2⁩ ⁨weeks⁩ ago

    I do not believe that which was created through collective labor should be able to be enclosed, so that the encloser can extort others for access.

    The house was not built by its owner. It was erected, decorated, and furnished by innumerable workers–in the timber yard, the brick field, and the workshop, toiling for dear life at a minimum wage.

    The money spent by the owner was not the product of his own toil. It was amassed, like all other riches, by paying the workers two-thirds or only a half of what was their due.

    Moreover–and it is here that the enormity of the whole proceeding becomes most glaring–the house owes its actual value to the profit which the owner can make out of it. Now, this profit results from the fact that his house is built in a town possessing bridges, quays, and fine public buildings, and affording to its inhabitants a thousand comforts and conveniences unknown in villages; a town well paved, lighted with gas, in regular communication with other towns, and itself a centre of industry, commerce, science, and art; a town which the work of twenty or thirty generations has gone to render habitable, healthy, and beautiful.

    A house in certain parts of Paris may be valued at thousands of pounds sterling, not because thousands of pounds’ worth of labour have been expended on that particular house, but because it is in Paris; because for centuries workmen, artists, thinkers, and men of learning and letters have contributed to make Paris what it is to-day–a centre of industry, commerce, politics, art, and science; because Paris has a past; because, thanks to literature, the names of its streets are household words in foreign countries as well as at home; because it is the fruit of eighteen centuries of toil, the work of fifty generations of the whole French nation.

    Who, then, can appropriate to himself the tiniest plot of ground, or the meanest building, without committing a flagrant injustice? Who, then, has the right to sell to any bidder the smallest portion of the common heritage?

    Kropotkin

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  • SnarkoPolo@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Why do you think it’s been made so difficult to own a home?omg as you’re paying rent, you’re a cash cow.

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    • SaveTheTuaHawk@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

      LOL. Try owning a house. The mortgage is just the start of costs.

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      • EncryptKeeper@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        People always say this as if renting isn’t the exact same way but without the benefit of equity.

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      • AquaTofana@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        I say this all the time as some who has bought/sold two houses and is currently a renter.

        It IS really nice having the “forced savings” of buying a house, and knowing that if you pay off enough and SHTF you can always sell for a chunk of change, but holy shit, people VASTLY underestimate the maintenance costs.

        Most people think: “Haha, I would rather have a $10K roof replacement every 20 years” or “I could handle a $1K water heater NBD”, but its not that. At all.

        We had a pipe bust underneath our house that home insurance wouldn’t cover because it didn’t directly affect the house itself, and that was an unexpected $30K hit and digging under our home in multiple locations. People like to tout the foundation/roof being good, but I’m telling everyone, dont sleep on the hydrostatic leak tests. And if I ever buy a house again, that is something I’ll get done like every other year, because our pipe burst after we had owned the home for over 10 years.

        Right now though, I am HAPPY knowing that the only “emergency” I’d have to cover would be vehicle issues, and my savings are going to largely stay my savings.

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      • douglasg14b@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        For real.

        $2800/m total with insurance, taxes.

        $400 of that goes to principal. The rest is burnt.

        120 year old house.

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    • Canconda@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

      Also individual owners have become a liability for the insurance entities that guarantee the mortgages for the banks. Wages:COL have gotten so bad that it’s basically the sub-prime mortgage crisis but for people who actually paid down payments.

      They built the system on property going up forever with only a small % defaulting. So they’ve gotta keep enough of us out of the market to ensure they can keep cashflowing their ponzi scheme.

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  • Gonzako@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    I pretty much agree with this. The economy has grown up to be for parasites made by parasites. The value of work should be way higher that it currently is. The economy should work on people actually doing things rather needing to own to become prosperous.

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  • HexParte@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

    This has come to the forefront in America since Covid and has become the reason why a lot of American’s (younger Millenials and Gen Z) can’t buy homes, beyond Gen Z being unable to find gainful employment (1/3 in unemployed). I think stating holes in their argument like “there are good landlords out there” or “what about this specific instance” is literally arguing against a rule with exceptions. That’s not what this post is talking about. They are talking about the “corporations” who are just some rich older person or couple that are buying one, two, or three extra properties and renting them out. Frankly that’s the biggest reason why housing costs have skyrocketed.

    The US Federal Reserve is trying to curb this by keeping the Prime Lending Rate (PLR) high, but Trump is putting pressure on him because lowering the PLR would look good for him on paper because it would look like he did something immediate to alleviate the economic pressure we’re feeling in America, directly because of him and his policies. BUT, that would be catastrophic to us “poor” (people making less that $240K/year; 90% of Americans), and I think you can see why. Yeah, if American’s with large savings accounts (years ago the figure was (0% of Americans have less than $1000 in savings, so just imagine how it is now) all of a sudden saw that the mortgage on a house dropped from . . . lets just take the average cost of a “starter home” @$210K . . . $1,762.34/month to where it was prior to the pandemic at (~3%) $1,347.87, the rich Americans that were already buying those extra houses would just buy more extra houses and charge YOU, a poor American, that ~$1500/month and still charge you for any maintenance they have to do (depending on how your state renter laws are set up).

    But even with all that, we still have the issue of how much houses cost. And because of the aforementioned “extra houses,” we have seen a skyrocket in the cost of houses. I won’t do a deep dive on it, but I will sum it up and link to a podcast you can listen to: an average home “should” cost ~$120K in today’s money, but because of the MASSIVE bubble created, that home now costs ~$400K. Why? because of people buying extra homes, and those same people who don’t have jobs being able to make it to zoning meetings to tell the planners they only want “big” homes in their areas to increase the selling price of their own home. That then has a cascading effect: let’s say this happens somewhere in California like a suburb of San Fransico. That means that people no longer can afford to live there so they move to let’s say Dallas. Now Dallas has less supply and more demand and the sellers jack up their prices arbitrarily because they want more profit. Then the buyer rents it out and keeps increasing rent prices so they can keep making more money.

    This is what the X Poster is complaining about. Not an immigrant charging reasonable rent prices or “good” landlords, because the truth is, those aren’t the type of people typically renting out houses to poor people who couldn’t afford to buy it.

    www.youtube.com/watch?v=7bajyEFHK0M&t=1198s Here’s another video that’s kinda related: www.youtube.com/watch?v=SfsCniN7Nsc

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    • AntiOutsideAktion@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

      I guarantee you that the guy who does existential comics includes ‘small business’ landlords in his formulation. He literally included them in that number.

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      • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

        I’m not currently a landlord and don’t intend to be one ever again unless my circumstance sharing housing with someone else.

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    • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      based in that you actually brought facts and context to the discussion.

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      • HexParte@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

        What you said is how experts (not me) have proposed we make these changes. On top of that, we the people hold tremendous power to change these things, too. Ignoring that real lasting change needs to be made at a federal level, we can go to zoning meetings to change what is allowed in our areas. Does it seem like a tough ask? Yes. I understand that. But as of now, besides voting because our lives depend on it, we can get out there and make meaningful changes in our community.

        As far as the economic changes. I think more people than you’d expect want it. The issue is us younger people making it to those places to make our voices heard. Just illustrate the point even if it’s not related, Minneapolis employees are having to take PTO or unscheduled and unpaid time off to get to these protests. And they’re lucky if they don’t get fired when they go. But we have a ton of people that want this change. It’s like the “Haves and Have-Nots.” The issue is that the people who have things have the capacity to make it to these meetings and make those local decisions. They’re also the people that are frankly in office at a federal level.

        Believe me, as one of these have-nots that is trying to buy a house right now and isn’t able to put a ton of money in the stock market, the game is just different for me. I welcome a crash and so do the people around me at my age. Will some of us lose our jobs? 100%, but we are already seeing people lose their jobs to keep this bubble from bursting. So to us, the only people that would lose out are the rich people with a ton of liquid assets that would deflate in value, not us.

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    • FarmTaco@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      That’s not what this post is talking about. They are talking about the “corporations” who are just some rich older person or couple that are buying one, two, or three extra properties and renting them out. Frankly that’s the biggest reason why housing costs have skyrocketed

      its grandma and grandpa owning a condo, that’s the root of the problem.

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      • FunkyStuff@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

        What’s different about grandma and grandpa owning a condo and generating profit off of doing 0 work and a larger corporation doing it? It’s the same economic mechanism, and if you had replaced the single corporation that owned 5000 condos with 5000 grandpas who own one house each they’ll still be leeching off the tenants the same amount in total. The relation between capital and labor isn’t any different just because capital would in one case be owned by more or fewer people.

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  • Innerworld@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Rent-seeking behavior is unfortunately very common.

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    • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      rent-seeking is the natural state of the market unless it’s regulated.

      and by market, I mean people.

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      • Riverside@reddthat.com ⁨2⁩ ⁨weeks⁩ ago

        most people will always seek to extract as much as they can from something while giving as little back as they can

        This is a fairly new phenomenon during capitalism, though. People lived in community, sharing everything and contributing without measurement of work, for the longest time in human history. It’s only class society that created the breeding ground for such behavior, it’s not human nature, it’s caused by the environment.

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    • WorldsDumbestMan@lemmy.today ⁨2⁩ ⁨weeks⁩ ago

      Ngl, wanted to buy property recently for this reason.

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  • wampus@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

    Lotta people chiming in on the profit rates for landlords – and while I admit that there are shitty landlords out there, I think it’s worth considering the ‘standard’ individual-owner landlord situation (which is historically the ‘norm’ for landlord situations). Ie. Someone who’s a bit older, has an ok amount of savings from working, and wants a second income stream from ‘somewhere’ to hedge against layoffs.

    What they typically do, is take out an interest only mortgage with a 30-35 or higher year term. They add in the cost of tax on the property, and any maintenance/condo fees involved, to the cost of paying that interest only mortgage. They use that income to pay off the carrying costs of the property, and hold on to it for a few years assuming that housing prices will always go up – and after 5-10-15 or however many years, they can sell the property for its higher valuation. These deals are often done as Variable mortgages, as they offer lower interest rates, but also expose the landlord to greater risk with interest rate changes (which they pass on to renters).

    And as properties in the area increase in cost, the cost of the above formula also increases, prompting the landlord to increase their profit from ‘carrying’ slightly over the years, assuming it can offset the increasing maintenance costs of the unit.

    I’ve periodically looked at rent prices in my area, and done the above, and they seem pretty much in alignment. It’s one of the likely reasons you’ll often hear jokes/stories about landlords freaking out at tennants because a bank’ll yell at them if they’re late on payments – because yes, the rent is basically paying off the interest part of the mortgage on the unit. It’s also one of the reasons ‘new’ home owners (who are actually living in their homes) will typically initially pay ‘more’ than renters, but over time they pay less in terms of monthly carrying costs (not even looking at the principal pay down - just the fact that they get a rate that doesn’t get ‘readjusted up’ every year to align with increasing house prices).

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    • Not_mikey@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

      Even in the case of a break even mortgage situation the meme is still true, it’s just the rich assholes getting paid for doing nothing are the banks and holders of mortgage backed securities.

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      • wampus@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

        And if the person’s got their mortgage from a Credit Union… then its… all those evil working class credit union members profiting?

        The trope that landlords are all evil, profiteering off of the poor, is an over-simplification / stupid stereo-type. Yes, there are shitty landlords. Yes, there are more corporations involved in renting places these days, and those corps are pretty exploitative. But there are lots of landlords who are just regular locals looking to try and gain some financial security.

        Stereotyping an entire demographic of people based on some negative trait of a particular subset of that demographic is not helpful. It’s not helpful when it’s done to portray racial minorities in a broadly negative way, nor is it helpful when its done to portray landlords in a broadly negative way.

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  • 5715@feddit.org ⁨2⁩ ⁨weeks⁩ ago

    A liberal’s conclusion would be: No rent without representation.

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    • zedgeist@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Coop housing! It works.

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  • BenderRodriguez@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    What if the rent is fair and the property owner is not a profiteering corporation? What if I just moved to a bigger house and want to rent the old one to someone who doesn’t want to own one?

    Am I stealing from someone?

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    • DirtSona@feddit.org ⁨2⁩ ⁨weeks⁩ ago

      What is a fair rent?

      Why do you even use the word fair in an economic context?

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    • JoeBigelow@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

      Most of the people that I have rented from have been pretty kind, decent folks. I lived in one apartment building, that definitely sucked, and one 3 level that was section 8 besides us, and that landlord was on the scummy side, but didn’t argue about fixing things. Other than that, just people renting their first house that was too small after a point and they bought another. And I bought my house from the last one 40k under market because we were good tenants and had become friends.

      Are the people that sold me their extra house 40k off evil?

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    • 3abas@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      It’s hard to grasp this when your mentality is coming from a lifetime of capitalist propaganda, but yes, you’re stealing from someone.

      Imagine a perfect world, where spacious modem homes are constructed in a responsible manner, and where anyone can live anywhere that’s available. No rent, no mortgage, no housing payments at all; housing as a right, funded by the public, and you live in a unit that suits your family in an area close to your workplace.

      Now, we don’t live in this perfect world, but to complete the vision just to rule out common talking points: In this perfect world, the housing units are modern and spacious, since they aren’t produced by corporations for profit, there is no pressure to cut corners and no incentive to deliberately keep housing scarce. Construction is planned around need instead of return on investment: durable materials, good insulation, safe wiring, accessible design, decent sunlight, green space, and maintenance that’s done because people live there, not because a spreadsheet says it’s “worth it.” Neighborhoods aren’t carved up by speculation, and empty units aren’t treated like “assets” to hoard; if something sits vacant, it’s because it’s being repaired or repurposed, not because someone is waiting for the market to rise.

      And here’s the part that matters for your question: in that world, you moving to a bigger home doesn’t create a private opportunity to extract money from someone else. It just means a smaller unit becomes available to someone who needs it, at no cost, because shelter isn’t a commodity.

      But in this world, housing is artificially turned into a revenue stream. When you move up and keep the smaller place as a rental, you’re not “providing housing” the way a builder or a maintenance crew provides housing, you’re controlling access to something people must have to survive and charging them for permission to exist there.

      The “fair price” argument only works if the market itself is fair. It isn’t. It’s shaped by scarcity, wage stagnation, barriers to ownership, and the simple fact that people can’t “opt out” of needing a home.

      So yes: the theft isn’t that you’re charging above some moral ceiling, like you’d be fine if you just found the perfect number. The theft is the extraction itself, taking a cut from someone’s paycheck not because you produced their home, but because you happen to hold the deed while they have no real alternative. They pay, not out of freely chosen exchange, but because the alternative is displacement, overcrowding, or homelessness. That’s coercion dressed up as consent.

      If you want a concrete way to think about it: imagine any other necessity, e.g., water, insulin, oxygen. If you had extra and someone needed it, charging them monthly for access because “that’s what the going rate is” would still feel like exploitation, even if you charged less than your neighbor. Housing is just as necessary; we’ve just been trained to treat the tollbooth as normal.

      And to be clear, I’m not saying you’re uniquely evil, or that you invented the system. I’m saying the system makes it easy to feel innocent while benefiting from harm. The moral question isn’t “am I kinder than other landlords?” It’s “am I participating in a structure that turns someone’s need into my income?” If the answer is yes, then whatever the price, you’re taking something that should never have been up for sale in the first place.

      The solution doesn’t come from small guys like you giving up their rental properties, because we know the corporations won’t give up theirs. The solution would be a move to that more perfect world, which forces both corporations and small landlords like yourself to give it all up at once.

      I don’t blame you for trying to find a way out of the wave slavery situation we all face, but you’re trying to get out of it by becoming part of the problem. The problem is capitalism.

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    • TubularTittyFrog@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Hey man, we can’t have reasonable normal discourse in here.

      Everything has to be vastly oversimplified and moralized into a hyperbolic statements measure against some ideal utopia society.

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    • AHamSandwich@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      What if you put your hand upon my hip, when you dip, I dip, we dip?

      What if I’ve got a girl named Rama Lama, Rama Lama Ding Dong?

      How about oo-ee-oo-ah-ah-ting-tang-walla-walla-bing-bang?

      What then?

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  • PattyMcB@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    This is exactly why I own. Yeah it sucks dealing with maintenance and HOA bullshit, but, no. I won’t enrich some piece of shit for no gain.

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    • Gerblat@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      My God, it’s so simple. Just buy a house!

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    • Pixel_Jock_17@piefed.ca ⁨2⁩ ⁨weeks⁩ ago

      What I don’t like is I worked 3 jobs during school, never went on trip and lived very frugal. I was able to save up and buy a property. I played my cards right and also got some level of luck and was able to leverage the first house to buy a rental property. I do my hardest to treat tenant with fair rent and safe place to live.

      Yet on paper, I am a “landlord” and demonized because of some bad apples. I hate it because I worked hard to get were I am and now I’m a problem and don’t want to just hand out my hard work.

      I think there needs to be an asterisk on these things because I agree there is generational wealth and billionaires are a problem but damn if I had bought a couple of franchises instead and did well that way maybe I wouldn’t be as hated.

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  • MadBits@europe.pub ⁨2⁩ ⁨weeks⁩ ago

    With all due respect, I can’t agree with this. It’s theft when a multi billion company buys home properties and then rents and manipualtes the market. If someone buys a house and succeeds into buying himself another studio apartment for future kids and in the meanwhile rents it, that’s not theft, pal.

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    • FunkyStuff@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

      When someone rents that apartment and they pay the landlord rent, the landlord is making money without working. The landlord isn’t actually providing any value or service, they’re only refraining from using the state to remove the person living in their property because that person is paying them.

      If a person were to occupy the property without that landlord’s consent or awareness, it would cost the landlord literally €0.

      Is there any reason why this landlord ought to receive payment for providing 0 value? Let alone enough payment to fully finance the property over the course of a couple of decades, during which time the tenants are effectively paying for the landlord’s mortgage without receiving any stake themselves.

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  • super_user_do@feddit.it ⁨2⁩ ⁨weeks⁩ ago

    It wouldn’t be an issue at all we were paying to a normal person who’s got ex. To pay for their mortgage, for college debt etc. The issue is that we are paying evil corporations and not normal people. We are fueling gentrification and we can’t even boycott them

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  • picnic@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Wait till you hear about loan interests and collateral. Maybe even covenants down the road.

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  • Hupf@feddit.org ⁨2⁩ ⁨weeks⁩ ago

    By the way, tomorrow’s already the fifth…

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  • sommerset@thelemmy.club ⁨2⁩ ⁨weeks⁩ ago

    Basically whomever runs for president needs to announce building out - nationwide concrete apartment complexes construction program on a massive scale.
    Offload at least 30-40 mln people demand. Housing costs gonna drop insanely

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  • betanumerus@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

    Is it better to pay a bank for a mortgage?

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  • worhui@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Lets translate that

    “If you can not buy a house in cash, you should live with your parents or be unhoused.”

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  • atcorebcor@sh.itjust.works ⁨2⁩ ⁨weeks⁩ ago

    Guys, y’all should read up on Henry George. It’s so logical that it is accepted by both sides in politics.

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  • arc99@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    I can agree with some arguments about the rental market, or laws about rent protection / rights. But rent in itself is not theft. Somebody wanting to live in somebody else’s property whether it’s for the night, a week or a year has to pay for it, or go buy their own place to stay in.

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  • TronBronson@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Kids back in my day you used to be able to rent a house for like $400. It was much cheaper than owning a house and had several advantages. Sometime after 2012 that all changed. Now it’s as you said. There’s a place for rent and land lords, it’s just not the current system

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  • DylanMc6@lemmy.dbzer0.com ⁨2⁩ ⁨weeks⁩ ago

    As a left-libertarian (I support personal freedoms and collective action under socialism), I think that taxation in general is NOT theft. In fact, rent is theft. Seriously!

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  • cinoreus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    I hate this type of posts. There’s nothing wrong with renting or paying rent. Most of American rent problem is because of high rent, not rent itself.

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  • AnotherUsername@lemmy.ml ⁨2⁩ ⁨weeks⁩ ago

    Does this still apply to the apartment building I once lived in which was built and run by an immigrant family as a long term family investment, and they charged a really reasonable price?

    Just curious.

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  • FiniteBanjo@feddit.online ⁨2⁩ ⁨weeks⁩ ago

    I think number of home units should be strictly limited, but a world without rent entirely is a really stupid idea that only ever seems uttered and promoted by Tankies.

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  • Sunflier@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Rent is theft? I thought rent empowered people. How is it theft for a car rental company to rent you a car at at an airport? How is it theft for uhaul to rent you extra storage space when you need it?

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  • TheObviousSolution@lemmy.ca ⁨2⁩ ⁨weeks⁩ ago

    If the concept of rent must exist, at least have it go to the government. It’s obvious that in private hands it will eventually favor the most rich, and it should not be used as a means to speculate. Unfortunately, political leaders never learn, and if they see thing X that moves a lot of money that they can trickle down off of, fuck the consequences of thing X, that thing is going to be allowed. Crypto, AI, housing, cloud PCs, they will kneel away their autonomy bit by bit.

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  • Flauschige_Lemmata@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    If you all think landlords make that much money, why don’t you guys all get together and form a housing association? In fact there are plenty of housing associations that sell shares.

    With building and repair costs at an all time high, being a landlord isn’t as profitable as it used to be.

    And the high interest rates make it even less profitable. It’s more attractive to invest elsewhere. And impossible to pay off a mortgage with rent.

    If more people were able to build apartments, we would be able to reduce the housing shortage and rent would go down.

    The one thing landlords do that I would consider theft is lobbying (bribing) for NIMBY policies. Especially zoning laws.

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