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Note that ownership is supplanted by rentership. I like urban density, but renting is extraction of wealth rather than a one-time transfer. I wish more of thes
by unethical_ban 6y ago
Note that ownership is supplanted by rentership.
I like urban density, but renting is extraction of wealth rather than a one-time transfer. I wish more of these developments were condos/ownership/co-op/what have you.
- chii 6y ago> renting is extraction of wealth rather than a one-time transfer. why is that? Renting is merely paying for shelter. The purchase price of a property would match rentals when adjusted for the cost of the capital to purchase (aka, interest payments, lost opportunity cost of capital etc). The only thing rentals lack is certainty - you cannot get kicked out of your owned home, but could for a rental (even with enough notice - it's still getting kicked out).
- danaliv 6y agoRentals lack equity, which is kind of an enormous thing to overlook.