4 ms·
I personally have a problem with this. Sure sitting on your arse and enjoying the income is a good thing, but in a situation where there is a housing shortage,
by Fifer82 9y ago
I personally have a problem with this. Sure sitting on your arse and enjoying the income is a good thing, but in a situation where there is a housing shortage, it is definitely a scummy thing to do. Each to their own of course.
I am so tired of seeing the government line "supply and demand". Maybe if people weren't allowed to own 30 homes simply because they existed before an incredible housing boom there wouldn't be so much of a problem.
- richardknop 9y agoIt's not scummy at all. I would do the same thing if I had the capital. And logically, older people will have access to more capital than young people so they will scoop up houses and rent them out. It's rational in current market and conditions. To make this less appealing you need to change legislature, increase interest rates etc.
- sidlls 9y agoI'm somewhat sympathetic, but it's only scummy if he or she lives in an area with a housing shortage and doesn't actively push for more development. The owner is one person and it isn't necessarily their fault the locals have a NIMBY problem. I'd certainly be in favor of adding a surtax proportional to the rent of residential properties.
- smcdow 9y agoYeah, well... we all make our choices. We, as Americans, have made the choice to live in a market economy, replete with all its pros and cons.
- joshuaheard 9y agoI rent to young families who cannot afford the cost of owning a house themselves yet. Once the mortgages are paid off, the rent will be our retirement income so we don't have to depend on Social Security.