7 ms·

Owning a property has risk. By renting you are paying to defer risk.

by winrid 5y ago

beckman466 5y ago
Landlording is a weapon the property-owning classes use to get away with not doing anything. [1] It’s the same with the other type of property: intellectual property. Big companies buy patents and trade secrets to monopolize knowledge to starve the commons, imposing their non-modular single-use black-box products on the working class. Society would be so much more effective and beautiful if knowledge was free and land registries were 1000% more transparent (they should be completely open). Is it really a democracy when only a small group of people have a bird's eye view of the systems and programs that run society? Does Bezos work 2,687,125 harder than warehouse workers? Fuck no, yet: “Bezos’ net worth is 2,687,125 times the median US household income and equivalent to 0.85% of US GDP“. Those numbers aren't even recent by the way, they're from 2018. [1] https://www.youtube.com/watch?v=qWSVG9nsRa4 https://www.youtube.com/watch?v=qWSVG9nsRa4
- CryptoPunk 5y ago
  Real estate is a man-made resource that is created through investment of capital. It doesn't emerge otherwise. Without the freedom to invest in property, there would be less housing, and higher housing costs.
  - ricardobeat 5y ago
    How exactly would housing costs rise without property investment? I’d expect the opposite, as you see in countries that have rent and ownership controls.
    - CryptoPunk 5y ago
      With less investment, you would have less money going into building housing.. Profit-motivated investment is the primary way in which market needs are met. When it's impeded by regulatory restrictions, market needs are met less. >>I’d expect the opposite, as you see in countries that have rent and ownership controls. The highest rental rates in the world are in the US city with the most ownership controls to prevents developers and landlords from profiting: San Francisco. Rent control makes housing less affordable: https://www.econlib.org/library/Enc/RentControl.html https://www.econlib.org/library/Enc/RentControl.html
      - beckman466 5y ago
        > The highest rental rates in the world are in the city with the most ownership controls to prevents developers and landlords from profiting: San Francisco. Correlation is not causation. The reason rents are high in San Francisco is because it's where the 'owners' of a bunch of high-tech Intellectual Property live. Labor aristocrats have to move there to be able to work on that tech. That is what has driven up the rents.
        frogpelt 5y ago
        You make it sound like you don't think people (or corporations) should be able to own property. I hate to burst your bubble, but someone is going to own the property. And if you insist on it being the government, you are going to severely disappointed by what happens next.
        wizzwizz4 5y ago
        > You make it sound like you don't think people (or corporations) should be able to own property. Ideas aren't property. Copyright law, patent law, trademark law, service mark law… they used to be very different to property law, and for good reason. “Intellectual property” is the power to silence your critics, sue your competitors and profit from other people's work – if you have enough money to throw your weight around. (Contrast with copyright, which lets you get a cut from those publishing your work; or trademark, which protects your professional reputation…)
        CryptoPunk 5y ago
        >>Correlation is not causation. The reason rents are high in San Francisco is because it's where the 'owners' of a bunch of high-tech Intellectual Property live. San Francisco does not have the highest average incomes in the world. What puts SF at the top of the rent rankings is the combination of high average incomes, and the most restrictive housing market in the US. I recommend you read the article I provided on rent control.
        5y ago
HowTheStoryEnds 5y ago
Only true in those instances where rent is significantly cheaper than mortgage + maintenance costs.
- Akronymus 5y ago
  Shouldnt it be the other way around?

Owning a property has risk. By renting you are paying to defer risk.

by winrid 5y ago

Owning a property has risk. By renting you are paying to defer risk.

Landlording is a weapon the property-owning classes use to get away with not doing anything. [1] It’s the same with the other type of property: intellectual property. Big companies buy patents and trade secrets to monopolize knowledge to starve the commons, imposing their non-modular single-use black-box products on the working class. Society would be so much more effective and beautiful if knowledge was free and land registries were 1000% more transparent (they should be completely open). Is it really a democracy when only a small group of people have a bird's eye view of the systems and programs that run society? Does Bezos work 2,687,125 harder than warehouse workers? Fuck no, yet: “Bezos’ net worth is 2,687,125 times the median US household income and equivalent to 0.85% of US GDP“. Those numbers aren't even recent by the way, they're from 2018. [1] https://www.youtube.com/watch?v=qWSVG9nsRa4 https://www.youtube.com/watch?v=qWSVG9nsRa4

CryptoPunk 5y ago
Real estate is a man-made resource that is created through investment of capital. It doesn't emerge otherwise. Without the freedom to invest in property, there would be less housing, and higher housing costs.
- ricardobeat 5y ago
  How exactly would housing costs rise without property investment? I’d expect the opposite, as you see in countries that have rent and ownership controls.
  - CryptoPunk 5y ago
    With less investment, you would have less money going into building housing.. Profit-motivated investment is the primary way in which market needs are met. When it's impeded by regulatory restrictions, market needs are met less. >>I’d expect the opposite, as you see in countries that have rent and ownership controls. The highest rental rates in the world are in the US city with the most ownership controls to prevents developers and landlords from profiting: San Francisco. Rent control makes housing less affordable: https://www.econlib.org/library/Enc/RentControl.html https://www.econlib.org/library/Enc/RentControl.html
    - beckman466 5y ago
      > The highest rental rates in the world are in the city with the most ownership controls to prevents developers and landlords from profiting: San Francisco. Correlation is not causation. The reason rents are high in San Francisco is because it's where the 'owners' of a bunch of high-tech Intellectual Property live. Labor aristocrats have to move there to be able to work on that tech. That is what has driven up the rents.
      - frogpelt 5y ago
        You make it sound like you don't think people (or corporations) should be able to own property. I hate to burst your bubble, but someone is going to own the property. And if you insist on it being the government, you are going to severely disappointed by what happens next.
        wizzwizz4 5y ago
        > You make it sound like you don't think people (or corporations) should be able to own property. Ideas aren't property. Copyright law, patent law, trademark law, service mark law… they used to be very different to property law, and for good reason. “Intellectual property” is the power to silence your critics, sue your competitors and profit from other people's work – if you have enough money to throw your weight around. (Contrast with copyright, which lets you get a cut from those publishing your work; or trademark, which protects your professional reputation…)
      - CryptoPunk 5y ago
        >>Correlation is not causation. The reason rents are high in San Francisco is because it's where the 'owners' of a bunch of high-tech Intellectual Property live. San Francisco does not have the highest average incomes in the world. What puts SF at the top of the rent rankings is the combination of high average incomes, and the most restrictive housing market in the US. I recommend you read the article I provided on rent control.
        5y ago

HowTheStoryEnds 5y ago

Only true in those instances where rent is significantly cheaper than mortgage + maintenance costs.

Akronymus 5y ago
Shouldnt it be the other way around?