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this post was submitted on 02 Oct 2023
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Because they provide something that is so valuable to you that you give them a good amount of money for it. Thats why.
You choose to give them money because their house seems to be a huge quality of life improvement, otherwise you could always find a cheaper house.
If anyone was free to buy a house whenever they liked, renting wouldn't be such a problem. The problem is, renting nowadays is the only solution and therefore those who own properties are free to charge what they like and people either put up with that or be homeless.
Renting should be a temporary measure, however nowadays people can't afford to actually buy homes because renting means they don't have money for deposits.
Renting isn't a choice for most people, it's a means to keep them off the streets. The landlords have the monopoly.
Serious question: Cant you just take out a loan from a bank, buy a house, move there, cancel your rental apartment/house and then pay off the loan?
Of course houses are expensive but is there a genuine lack of availability?