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Most "land" or real estate is actually held by banks or other financial conglomerates through a proxy called a home "owner".
by x5n1 11y ago
Most "land" or real estate is actually held by banks or other financial conglomerates through a proxy called a home "owner".
- duhast 11y agoBanks enjoy a cut from the interest rate but it is also the people who deposited money in those banks who earn money that way. And noone is forced by financial institutions to take 40 years long home loan.
- Gravityloss 11y agoDeciding between buying and renting depends on many things, like the different costs, interest rates, inflation, tenant rights etc.
- mgraczyk 11y agoTraditional mortgages do not transfer any of the externalities mentioned in the article to the banks. The sense in which the banks "own" the property does not detract from the argument.
- TheSpiceIsLife 11y agoYes, because the mortgagor (banks / etc) don't own the property. They just have a lien on it.