4 ms·
So what? That person who wants it for themselves is competing against all the renters that would like to rent the home that OP fixes up, but who aren't privileg
by googlryas 4y ago
So what? That person who wants it for themselves is competing against all the renters that would like to rent the home that OP fixes up, but who aren't privileged enough to be able to put together a down payment to buy a house. So that aspirational home buyer is driving up the price for renters. Should we be angry at the home buyer as well then?
It's not like OP is going to buy the home and let it sit vacant.
- colechristensen 4y agoOP buying reduces the hosing supply for owners and raises the price to become an owner pushing more people out of the "privileged" owners bracket. At the same time doing it to the most accessible to own property and making money in the process.
- googlryas 4y agoLikewise, the person who buys the house and lives in it takes it off the market for renters, thereby increasing costs to the "unprivileged" renters bracket.
- jiveturkey 4y agoindeed. this is why rent control, when coupled with artificial supply constraints, is a net negative