4 ms·

I agree with you - the whole idea of people owning houses they didn't build AND don't live in and somehow getting to make a profit off it is absurd. It's just a

I agree with you - the whole idea of people owning houses they didn't build AND don't live in and somehow getting to make a profit off it is absurd. It's just a way of creating a class system and funnelling money from working people to the lazy. Why should someone get to sit back and collect a profit just because they were born into a rich family and had the privilege to bootstrap free income for life thru property ownership? It has to stop eventually. I say this as a young Melbournian who will probably never own a house unless the bubble bursts in a very, very big way. Median house price is nearing a million dollars (currently $843,674 [1] i.e. twenty years pay without including any mortgage interest), and those responsible tell us it's our fault because we eat too much avocado. What work are landlords doing exactly? What value are they creating for the world? What is better about it for them being there? Nothing, nothing, and nothing. I could say the same about banks and mortgage lenders. Creating absolutely nothing for the world, simply holding housing hostage and collecting a big paycheque for it. The entire way we think about home ownership has to change. [1] https://www.domain.com.au/news/melbournes-median-house-price-soars-to-843674-in-march-quarter-domain-group-20170419-gvn64k/ https://www.domain.com.au/news/melbournes-median-house-price...

bigzen 9y ago
I agree with you, but what is the solution? I can't think of any reasonable solution to the stated problem.
- macawfish 9y ago
  I think one great solution is housing coops. There is actually an organization that helps people start and maintain housing coops: http://coophousing.org/ http://coophousing.org/ Housing coops have a lot of potential.
  - itchyouch 9y ago
    Maybe, but the general acceptance process of needing to get approval by the existing neighbors seems to both be the pro & con that prevents more widespread availability of coops
- mixmastamyk 9y ago
  Supply and competition. Vastly increasing supply would bring down prices. But of course that would eliminate the profits of property owners, so is not done.
exclusiv 9y ago
I'm not a fan of most landlords but they do provide a service. They're legally on the hook for paying property taxes, making sure the home is up to code, maintaining the grounds and the structure, paying utilities in many cases, carrying various forms of insurance, etc. Sometimes they acquire distressed assets and remodel to add homes back to the supply. They generally own the property because they've shown they have assets and good credit. The bulk of people that rent have very little assets - so little that the only way they could have decent housing is to rent from the evil landlords. Or move to some non-capitalist country.

bigzen 9y ago

I agree with you, but what is the solution? I can't think of any reasonable solution to the stated problem.

macawfish 9y ago
I think one great solution is housing coops. There is actually an organization that helps people start and maintain housing coops: http://coophousing.org/ http://coophousing.org/ Housing coops have a lot of potential.
- itchyouch 9y ago
  Maybe, but the general acceptance process of needing to get approval by the existing neighbors seems to both be the pro & con that prevents more widespread availability of coops
mixmastamyk 9y ago
Supply and competition. Vastly increasing supply would bring down prices. But of course that would eliminate the profits of property owners, so is not done.

exclusiv 9y ago

I'm not a fan of most landlords but they do provide a service. They're legally on the hook for paying property taxes, making sure the home is up to code, maintaining the grounds and the structure, paying utilities in many cases, carrying various forms of insurance, etc. Sometimes they acquire distressed assets and remodel to add homes back to the supply. They generally own the property because they've shown they have assets and good credit. The bulk of people that rent have very little assets - so little that the only way they could have decent housing is to rent from the evil landlords. Or move to some non-capitalist country.