Even with repairs and maintenance at an all time high a majority of rent is profit, either for the landlord if they own it outright or a bank if there’s a mortgage on it. The fact that a majority of the money being paid for housing isn’t going into building or maintaining housing and is going into the pockets of landlords, banks, mortgage backed securities holders is the main reason housing costs so much.
This is why the best solution to housing affordability is social/public housing. If you remove the profit motive and make it so all the money going into the housing system is spent on building or maintaining housing, then more homes would get built because there would be more money for them and you remove the rentier class constantly lobbying against new buildings to preserve property values.
Removed by mod
Even with repairs and maintenance at an all time high a majority of rent is profit, either for the landlord if they own it outright or a bank if there’s a mortgage on it. The fact that a majority of the money being paid for housing isn’t going into building or maintaining housing and is going into the pockets of landlords, banks, mortgage backed securities holders is the main reason housing costs so much.
This is why the best solution to housing affordability is social/public housing. If you remove the profit motive and make it so all the money going into the housing system is spent on building or maintaining housing, then more homes would get built because there would be more money for them and you remove the rentier class constantly lobbying against new buildings to preserve property values.