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>This increase is in large part due to the disgusting financialization of the housing market. Greed, period. Owning an investment property is seen as easy mone
by itsoktocry 6y ago
>This increase is in large part due to the disgusting financialization of the housing market.
Greed, period. Owning an investment property is seen as easy money. When I was a kid it was essentially unheard of to own a second property for rent. Now a substantial number of people I work around own one (or more) rental properties. I know "just a guy" that owns 5 AirBNB condos he rents for $250-300 per night in the summer season, that sit vacant the rest of the year.
I have no idea why we allowed this to happen.
- Pokepokalypse 6y ago> Owning an investment property is seen as easy money. Sure beats working for it.
- BMorearty 6y ago> When I was a kid it was essentially unheard of to own a second property for rent. Sorry but that’s flat-out wrong. Owning a second property for rent has always been a thing. How would you have known, you were a kid! Case in point: my family was middle class. My parents were a college professor (new grad from graduate school, not a big deal) and a stay-at-home mom, living in suburban America. They owned a second property for rent. I didn’t even know until 20 years later that they had owned it! Lest you think I’m some kid who grew up in the 00’s: no, I grew up in the 60s and 70s.