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this post was submitted on 21 Jun 2024
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So they should pay the same expenses, PLUS extra to support the landlord who could meet the bank's criteria for a loan?
They also don't have to worry about cashing in on the appreciated value of the house since they moved in...
Funny joke. My parents bought a house for $90,000 in 1993 that is worth ~$400,000+ today. What percentage of investments could offer such a yield in the same time-frame?
I still get those same scam calls despite not being a homeowner.
Got anything else?
Obviously there has to be an incentive for Jim-bob to tie up his retirement savings and credit worthiness in a house that he doesn't live in. You may not like the fact that people have to qualify for bank loans to buy property, but this is the world we live in. Especially if you happen to be an undocumented immigrant.
Oh, your anecdotal evidence about your parent's home surely beats my Nobel-prize winning economics study citation. Lucky for your parents they didn't have to sell it in 2010. Because I have anecdotal evidence for someone who bought a house for $400k in 2004 and then later sold it for $280k after the real estate crash.
Also the increasing property value you mention is due to regulatory capture by home owners who prevent the construction of new rental properties for fear it will "hurt their home value." Combined with a mass exodus out of the rural areas into urban areas that are not building homes or city infrastructure fast enough to keep up with the increase in residents in the short run, which results in increased prices for homes in the city until those issues are addressed.
None of these things are "working as intended."
No, you get different scam calls which you assume are the same but are definitely not, since these ones just go out to names on lists of property owners, not random residents.
Obviously if I think landlords are a leech on society, then I must also be in favor of free property for everyone! There's no issue with having to qualify for a loan for a house, but don't piss in my shoes and call it rain. All landlords do is drive up the price of living for someone who could have potentially bought the house they're renting. If they're able to rent it, then they're clearly able to afford the mortgage payments, upkeep, taxes, etc. Plus extra to support the living expenses of the owner.
I sure missed any citations in your post. Unless you think just naming a publication counts as citing it.
cool story bro. There's always cases of people losing out because they buy high and sell low, but in your anecdote, what would the $400,000 home be worth today had the homeowner held onto the property? There is no stock portfolio that would appreciate in value the same way houses have.
Tell me more about the phone calls I receive and how they're not 'real' scam calls.