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this post was submitted on 24 Aug 2023
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A thriving business selling stuff people don't need for them to buy with excess capital they no longer have.
No you're just ignoring a hole in your argument. I could profitably buy a plot of land and use it to store pig feces which happens in North Carolina.
This analogy doesn't track. They aren't selling something the person could otherwise afford or even want to buy.
Massive overgeneralization. I know contractors that built houses and eventually built one and rented it out for additional income. This means they worked to make the money to buy the land and the materials and invested their own time in building it which saved them a ton on labor costs. Somebody moved into it and lived there (e.g. value). Somebody should report them to the secret police!
Again. Sometimes that's the case. Sometimes it's a dude taking care of everything himself on the weekend.
You've never had to clean up a house destroyed by drug addicts. Believe me they can do a ton of damage. There's plenty of risk. No one in this thread understands that though.
I wonder if the macroeconomic factors could play into that? You know? Stagnating wages, a falling dollar, endless wars, cronyism, endless immigration, enriching Blackrock during the 2008 bank crisis so that it can single handedly buy more single-family homes than any other entity in American history. Nope it's Jim from work that rents a condo.
That's not true because housing is not the only form of wealth.
And did I say I approve of that? No. That's why it is a whataboutism fallacy. The topic is housing. Pointing out other horrible ways to use land doesn't change the fact that the current housing situation is bullshit.
More people could afford to own their house if not for landlords hoarding the supply.
Those cases are rare.
https://ipropertymanagement.com/research/landlord-statistics
This is again a rare case.
It's all of the above. Landlords are a part of the problem, and I never once said they are the sole problem.