4 ms·

Knew they wouldn't let me down: "rental income,". So can everyone live off a big chunk of another families labour? "The equity in their home—worth about 21 tim

Knew they wouldn't let me down: "rental income,". So can everyone live off a big chunk of another families labour? "The equity in their home—worth about 21 times their annual expenses". And what about now where the average first time buyer age is near 40! Last one is a banker. Just need to work in an industry secretly building massive debt and take your bonus each year and you are golden. Money moustache man all over again.

econner 10y ago
Having a place to live is one of the primary needs people have. Why shouldn't you be able to make an income off of that? Everyone lives off of other people's labor...unless you're subsistence farming or something. I'll give you the banker one though.
- branchless 10y ago
  Housing is a basic need and western finance and govt structures work to skim off labour through land. If you are borrowing to rent out you are simply a debt collector for the banks. We used to have decent manufacturing jobs where the other half didn't have to work who could run a car, had good hours and enough money. Now land is the primary cost for every family. The same pile of bricks for more of your labour. You happy with that? It's the system not the cost of building or materials. Think of the advances since the 1960s in materials and construction.
  - ap3 10y ago
    Yes, but they are not making more land
    - branchless 10y ago
      That is the exact reason why these vultures should be curtailed.
xref 10y ago
Could you expand on the Money Mustache comment? From what I can gather he currently makes quite a bit of income from putting his followers into bad products he promotes and advertises on his site, such as Geico (premiums going towards massive marketing campaigns, not keeping costs low) and Betterment (layering fees on top of index funds which you could buy directly for no extra fee)
- branchless 10y ago
  I know nothing of any of this. I don't follow him because he derives part of his income from rent, which I deem unproductive and it doesn't scale across the population at large.

econner 10y ago

Having a place to live is one of the primary needs people have. Why shouldn't you be able to make an income off of that? Everyone lives off of other people's labor...unless you're subsistence farming or something. I'll give you the banker one though.

branchless 10y ago
Housing is a basic need and western finance and govt structures work to skim off labour through land. If you are borrowing to rent out you are simply a debt collector for the banks. We used to have decent manufacturing jobs where the other half didn't have to work who could run a car, had good hours and enough money. Now land is the primary cost for every family. The same pile of bricks for more of your labour. You happy with that? It's the system not the cost of building or materials. Think of the advances since the 1960s in materials and construction.
- ap3 10y ago
  Yes, but they are not making more land
  - branchless 10y ago
    That is the exact reason why these vultures should be curtailed.

xref 10y ago

Could you expand on the Money Mustache comment? From what I can gather he currently makes quite a bit of income from putting his followers into bad products he promotes and advertises on his site, such as Geico (premiums going towards massive marketing campaigns, not keeping costs low) and Betterment (layering fees on top of index funds which you could buy directly for no extra fee)

branchless 10y ago
I know nothing of any of this. I don't follow him because he derives part of his income from rent, which I deem unproductive and it doesn't scale across the population at large.