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Because they can make a far greater profit by selling the property at a moment's notice, than say renting it out for an year. I mean, a place where your rental
by abdullahkhalids 5y ago
Because they can make a far greater profit by selling the property at a moment's notice, than say renting it out for an year.
I mean, a place where your rental profit is 3k/month, might sell for 100k more than you bought it for, to the next wealthy person who thinks they can make another 100k profit by holding and selling after an year.
- kasey_junk 5y agoDoesn’t that imply that renters are getting extremely good deals? Is that something you want to change with governmental policy?
- freeone3000 5y agoNot really. Rents in my current area are in line with my mortgage. So perhaps they're getting better deals than if they had to sell a house and buy a new one every year, but, it's a much worse deal than if they were able to buy a condo and live in it.