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this post was submitted on 21 Dec 2025
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Geriatric millennial here: it's missing the purchase at the top of the bubble in 2007, listing for sale at a loss 3 times in 2008-2009, list for rent in 2014 and 2015 at less than the mortgage, sell in 2017 at slightly more than when you purchased it when you finally got it off your back (but you paid it all in taxes because it was a rental), then see it sold in 2022 for 2.5x what you sold it for in 2017.
At least that's how my first home purchase went when everyone told me real estate was a guarantee in my 20s on a non-profit salary. The only thing you wouldn't see is the 0% mortgage offer they made on the first 150k when we started walking away in 2009. And the medical bills for idiopathic neuropathy from the stress.
I'm also a 'geriatric millennial', but I wasn't in a position to buy until 2009 so my experience was vastly different. I do have some same-age friends who bought in 2007 with stories more similar to yours, though.
Ironically, my mom tried to warn me against buying back then. I would've been absolutely screwed if I'd listened to her.
I'm sorry about the stress but to be fair one of the reasons that house prices got so insane was people like you who were buying to rent. That puts pressure on the housing market because if you buy to rent you can own multiple properties, so more and more housing stock gets taken out of rotation so it gets to the point where even if people could theoretically afford to buy a house, there are none available.
Renting brakes the supply and demand system. If there were more houses than there was demand, the value would go down and would open up home ownership for more people, this would increase demand and stabilise the market. If there was insufficient supply, housing prices would go up which would incentivise companies to construct more properties, thus increasing availability and stabilising the market. But the want to be landlords come in and buy up all the available homes and now there is high demand but low supply, so construction companies build houses and sell directly to landlords (because landlords have no chain), demand has increased but supply has remained the same, despite construction having happened. Repeat that for 50 years and you get our current housing market.
This doesn't sound like someone who bought 4x houses and became a slum lord.
Renting out a home you own is a normal part of home ownership. You might move to another city, care for your elderly parents, or move in with a spouse.
Its easy to say "oh well hurry durr you should sell because charging rent is unethical", but in practice no one would actually sell in these circumstances for that reason, if it were contrary to their interests.
This has been happening since the first troglodite laid on some straw and called it a bed. Renting for a few years is not everything thats wrong with the property market.