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Equal treatment sounds good to me. Which point are you responding to?
> I’m sure many immigrants had money on the IPO as well? Either it's bad faith or you don't understand the implications. Either way, GL with whatever.
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A landlord is doing exactly the same thing as an investor. They are tying up their capital in exchange for an income, and the possibility of a capital gain.
The difference is that investment in a company can create “more company”, whereas investment in land can’t create more land.
But investment in housing can definitely create more housing, and that is by far the most common type of landlord.
The problem is absolutley that housing is too expensive, which of course a bunch of realtors are not going to point out. Increasing wages will not fix the housing crisis, and will just drive prices higher. How convenient for a bunch of realtors...
> Increasing wages will not fix the housing crisis, and will just drive prices higher. This is true though?
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"Basketball players are extremely tall." "Go tell that to the middle school travel team in my neighborhood." Why are you even making this comment? The comment you responded to was obviously talking about median wages of the entire US population. Real Wages are near all-time highs - it's just a fact, you can look up the data yourself.
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That’s a sort of interesting question. On one hand, landlords are easy to resent, they extract a lot of income primarily by owning something rather than doing anything productive. On the other hand, wages haven’t kept up with inflation and the super-wealthy are constantly capturing more of the value. At least in the case of small-scale landlords, maybe they are just the only lower-to-middle class people who’ve manage…
Are you saying that you blame apartment prices on landlords? If you build more apartments then market rent goes down and landlords can't charge more if people can just find cheaper apartments. It's not like landlords just choose whatever price they want - it's significantly bound by the demand.
What do you mean by “blame?”
I felt like my post was generally in the less-finger-pointing direction.
For the ones that didn't read the article, it says there. The problem is that the state takes more and more away from the workers wages: "The biggest flaw: It uses gross income, not take-home pay One of the biggest issues with the 30% rent rule is that it’s based on your gross income—not the amount of money that actually lands in your bank account on payday. To illustrate this flaw, let’s use some real-world numbers.…
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Maybe. I think when times are good it seem like that (right now) but when times are tough they can be stuck owning things that lose money. There is some risk in ownership.
You lose close to zero money owning land even in down markets. That's why there are vacant lots that cost millions of dollars in every major city. Near-zero carrying cost. There's risk in owning housing and so we should make sure people get rewarded for that instead of rewarded for owning land .
You still lose relatively though because the next person with their money in the market made some %
Land and real estate assets are generally a poor investment relative to the market without a ton of active management. There are god knows how many millions of people who own land that would be incredibly valuable if not for the civil engineering lobby getting environmental rules and laws written to their favor.
Landlords are the least productive class in society, and it's not even close in terms of ranking.
I only partially agree with this - Access to housing for people unable to access a mortgage is very important. And the capital outlay historically required to OWN a house has been nearly impossible for the vast majority until recently. And even now, banks really hate lending to people not already "on the ladder" to use a British term. For instance: I bought my wife's grand fathers house. It appraised for $165k, and h…
TBF, would you give some randomer a few hundred grand without a strong guarantee you'd get it all back?
Landlords are the least productive class in society, and it's not even close in terms of ranking.
Have you ever owned property before? Maintaining property is a lot of work and locking up that much capital is a lot of risk. I personally think it’s usually a shitty investment and a waste of my life, so I’m glad to pay someone else to use theirs.
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That's a bad take. For one, illegal immigrants are a minority of the foreign born population. Secondly, even if the statistics are by some miracle not tortured out of the numbers, still obviously not a sufficient explanation. San Francisco for example has a small undocumented population (primarily from Asia), yet also has huge affordability issues from high rental demand and income disparity. There's no world in whic…