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Covid-19: Landlords will kill our economy

smartcompany.com.au

71–73 of 73 posts

Re: Covid-19: Landlords will kill our economy

#71

I think most landlords are wealthy people who are easily placed to weather this financial crisis. By definition if you are wealthy enough to own property beyond one house then you’re wealthy enough to survive this. And if you can’t afford to, then sell it and suffer like all the other real business owners are suffering. Why should landlords be a protected species in all this?

I've been a landlord. I absolutely was not wealthy.

I bought a house to live in because it was the most affordable solution. When we moved for my husband's career, it got rented out and we became renters elsewhere because we couldn't afford to sell. The market had tanked, our house value had dropped and we didn't have enough equity to sell it without losing our shirts.

Not all landlords are filthy rich. Even if they are, if they are heavily invested in real estate and everyone stops paying them, they will soon be in real trouble themselves.

No one has a Scrooge McDuck swimming pool of money. Rich people tend to have equity in the form of stocks and real estate. When the economy tanks in a big way, they aren't immune from the effects.

This is why a lot of people jumped off of ledges when the stock market tanked in 1929. They knew they were suddenly wiped out and couldn't face living that way.

Re: Covid-19: Landlords will kill our economy

#72
post #41
post #15

Earlier quoted context omitted.

So what? Why should society provide security for the gamblers of the property free-for-all? They took the risk. Too bad if it goes bad. Try working for your income instead of trying to get something for nothing.

Can you please not post ideological flamewar comments to HN? They lead to ideological flamewars, which are predictable (therefore boring, therefore off-topic) and also nasty (therefore destructive, therefore against the site rules). https://news.ycombinator.com/newsguidelines.html

[deleted]

Re: Covid-19: Landlords will kill our economy

#73
post #63

It's really concerning here that so many comments basically amount to let's ban all landlords. It's really dumb, people clearly have not thought it through.

Lets make everyone the owner of the place they live in right now. It is our country and we can do what we like? no?

I mean, you get why this is a terrible idea right?
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