Where in this scenario do the people who are working for poverty wages get the money to buy one of those other 9 houses?
A house doesn’t cost that much to build in materials and labour, the vast majority of middle and even lower class people can easily afford the down payment and mortgage payments on materials and labour instead of paying rent. What they can’t afford is the market rate driven up by the fact that landlords buy houses and rent them back to them at a profit.
They could also instead join a co-op that allows them to collectively purchase and own a smaller section of a larger building.
They could also get this magical thing called financing from either the private sector or government.
Without systemic changes most people will ever be able to afford a house even if we get rid of landlords.
The Ontario Liberals slapped a large tax on second properties in the 1970s and corrected the price of housing by 30% overnight. And that was before the massive boom in real estate speculation and mom and pop landlords and their totally earned and deserved “passive incomes” coming on the backs of people poorer than them.
Are landlords the only systemic issue? No, but they are a massive systemic issue that objectively drives prices higher by depleting supply, and one that is further enriching rich boomers who already have a fucking house to live in. Go outside, give your head a shake, recognize that you are part of the systemic problem keeping housing costs high, and then invest in an index fund and accept your reasonable rate of return like a decent human being.
Welp I hope you recognize that you’re a dumb greedy fuck and learn to shut the fuck up instead of trying to pretend like landlords are noble.
They provide no value to society. They are essentially freeloading scum. They’re capable enough to understand the market, at least at the surface level, but have chosen to waste their life being a leach on society rather than provide any actual value to the useful economy.
A house doesn’t cost that much to build in materials and labour, the vast majority of middle and even lower class people can easily afford the down payment and mortgage payments on materials and labour instead of paying rent. What they can’t afford is the market rate driven up by the fact that landlords buy houses and rent them back to them at a profit.
They could also instead join a co-op that allows them to collectively purchase and own a smaller section of a larger building.
They could also get this magical thing called financing from either the private sector or government.
The Ontario Liberals slapped a large tax on second properties in the 1970s and corrected the price of housing by 30% overnight. And that was before the massive boom in real estate speculation and mom and pop landlords and their totally earned and deserved “passive incomes” coming on the backs of people poorer than them.
Are landlords the only systemic issue? No, but they are a massive systemic issue that objectively drives prices higher by depleting supply, and one that is further enriching rich boomers who already have a fucking house to live in. Go outside, give your head a shake, recognize that you are part of the systemic problem keeping housing costs high, and then invest in an index fund and accept your reasonable rate of return like a decent human being.
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Welp I hope you recognize that you’re a dumb greedy fuck and learn to shut the fuck up instead of trying to pretend like landlords are noble.
They provide no value to society. They are essentially freeloading scum. They’re capable enough to understand the market, at least at the surface level, but have chosen to waste their life being a leach on society rather than provide any actual value to the useful economy.
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Yes, your view that landlords are anything more than a drain on society is.
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We were done here the moment you started simping for rent seeking landlords.
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Do you enjoy your family and friends cringing at parties when you tell them how you leach off society for a living?