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submitted 2 days ago* (last edited 2 days ago) by ShareMySims@sh.itjust.works to c/leftymemes@lemmy.dbzer0.com

ID: A Sophie Labelle 4 panel comic featuring Stephie in different poses, saying:

Landlords do not provide housing.

They buy and Hold more space than they need for themselves.

Then, they create a false scarcity and profit off of it.

What they're doing is literally the opposite of providing housing.

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[-] SimplyTadpole@lemmy.dbzer0.com 18 points 1 day ago

Oh my god, tell me about it.

Even when you want to rent a place and can afford to do so, landlords make the situation really difficult because many of them put up places supposedly for rent, but make it as difficult as possible for someone to actually qualify to rent it, since they're only doing it to inflate their net worth and having someone living there apparently devalues it. It took me over a year to find a place that actually was willing to let me rent it because most others would cook up bullshit reasons to reject me (my personal favourite being one that got mad at me and put me in their blacklist for... asking too many questions about their property???).

Like... I have money. They are offering a good in exchange for money. I am willing to spend money in exchange for this good. It shouldn't be this hard.

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[-] count_dongulus@lemmy.world 26 points 2 days ago

Alright but...there actually is a legitimate service that landlords provide. If someone does not want to own and maintain a property for a long period of time, or doesn't have enough money or means to satisfy a lender that they will be able to repay a very large loan on that property over a long time, a rental agreement is beneficial. Grad students, visa holders, travel nurses, etc probably don't want to purchase the property they're temporarily staying in.

[-] rockSlayer@lemmy.world 30 points 2 days ago

Landlords aren't the exclusive source for short term housing, and don't need to be defended in this way. Advocate for and support collective ownership via housing cooperatives. Landlording is the practice of leeching money from the working class.

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[-] Rivalarrival@lemmy.today 19 points 1 day ago

Land Contract (sometimes called "contract for deed") provides all of those same benefits, from the same people, to the same people, as renting. It is a bit of a misnomer in that it applies to any real property, and not just "land".

The difference from renting is that with the land contract:

    1. The monthly price is fixed for the life of the contract;
    1. After three years (in my state), the occupant begins gaining equity.

Grad students, visa holders, travel nurses, etc. might not necessarily want to purchase the property they are staying in, but they might also find themselves living in that area for longer than they expect. A land contract gives them the security of fixed housing costs and the flexibility of being able to walk away at any time and for any reason. They also allow the occupant to begin earning equity while still living in "temporary" housing, allowing them to save more for the future.

But, in our current market, renting is more lucrative to the landlord.

So how do we drive landlords to offer land contracts instead of rental agreements? We provide property tax exemptions to owner-occupants. We increase the nominal property tax rate: run it sky high. But, the owner-occupant exemption means the effective tax rate for homeowners (including land contract buyers) doesn't actually increase. Only investors - people who own housing they don't live in - will be paying that punitively-high tax rate.

With that sky-high tax on investment properties, today's landlords will be incentivized to become private lenders. They will be taking the exact same financial risk on the exact same people, but now those people will be called "buyers" instead of "tenants".

The only "renting" that will still remain is from landlords who live in one unit of a 2-4 unit property, or a roommate agreement, or short-term use like hotels and motels.

Home ownership is the single best predictor of financial prosperity in the US. Every housing contract should include some sort of provision for equity.

[-] merc@sh.itjust.works 19 points 1 day ago

There is a legitimate service being provided there. It just shouldn't be "lords" who provide it.

The problem is that the "lord" is earning tens of thousands of dollars per year for essentially no work. This makes it essentially similar to how a "lord" worked in a Feudalist system. This isn't even capitalism where someone owns capital and uses that capital to generate profit. This is just demanding a payment for being in a place.

Since being a landlord requires essentially no work, landlords can accumulate wealth, buy more property, get even more income, buy more property, etc. More wealth / property means more political power. The main thing that political power will be used for is to gain and retain more wealth, which is equivalent to more power.

Imagine how different would be if nobody could ever rent out more than one property, especially combined with a vacant units tax. You'd still have "landlords" but they would be much less lord-like.

[-] drkt@lemmy.dbzer0.com 13 points 1 day ago* (last edited 1 day ago)

there actually is a legitimate service that landlords provide.

one I don't want to pay for, but also one they don't actually give me. My apartment is still missing several doors and I've been here for a year now. They don't give a fuck. You're also setting it up as if I have a choice but to be serviced. I don't. I don't earn enough money for my bank to want to give me a loan, even if I wanted to be in debt, to buy even the shittiest house on the market here, so I don't have a choice but to live under the thumb of a landlord.

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[-] NameTaken@lemmy.world 3 points 1 day ago

I don't understand how would a 100% land tax work? If you own a 300k house you'd have to pay 300k in taxes every year? So basically making housing unaffordable except for the ultra rich?

Also why would anyone build apartments if they weren't going to make a profit? What's the incentive? No one would do anything if they couldn't make money doing it.

If landlords are bad or too expensive why not move, another building another state another lower cost of living area? Agreed rents are super high but that's mostly in dense urban areas. You're paying a premium for location.

I'm really not seeing any honest answers here about how to fix this problem. Besides the government should provide everyone free housing? How would that work how would you decide who gets to live where? Who gets the apartment on the lake vs next to the airport/oil refinery?

Like I get it housing is expensive but I haven't seen anything here that would actually help fix that? Ironically more landlords and more apartments would probably help.

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[-] TheEntity@lemmy.world 28 points 2 days ago

But a good landlord with fair prices will prevent evil landlords from price gouging tenants! /s

[-] unexposedhazard@discuss.tchncs.de 21 points 2 days ago

I mean this can happen, but nobody should have to rely on the good will of some random person. Thats one thing i learned as a kid, never trust people with money amounts of that order unless they are legally obligated to fullfill their promises. People can be super cool and nice right until they need money.

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[-] antonim@lemmy.dbzer0.com 13 points 2 days ago

Ok but where's the punchline? Why is this even a comic?

[-] Wiz@midwest.social 11 points 1 day ago

Not all sequential art is meant to be funny.

Side note: One of the best non-fiction books of all time is Understanding Comics by Scott McCloud.

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[-] pelespirit@sh.itjust.works 17 points 2 days ago* (last edited 2 days ago)

Corporate landlords specifically.

Single Family Houses – The 5 Biggest Buyers In America

As SFH investors and property managers we may find ourselves bidding on the same property as a major fund. You might get a call from a fund that wants to buy your portfolio. You could end up partnering with a fund as its local operator. You never know.

Phoenix was the first city that had just about all the major private equity firms investing in single family houses. Private equity helped drive prices in Phoenix up by 34% as you can read about in this Bloomberg article here. The next city that attracted just about all the major private equity firms was Atlanta GA. Other popular markets are CA, Chicago and Florida. PE firms are looking for markets that have experienced the biggest bubbles that have resulted in the biggest swings in values.

We call those non-linear markets. The goal is to hold properties as rentals and wait for a housing recovery. These funds are averaging about an 8% return on investment where most major multi-family / apartment funds return about 5 or 6%. Linear markets like Tulsa OK, Louisville KY, Indianapolis IN, Fort Worth TX, Columbus OH, and Kansas City have been some what over looked by the biggest players. However, there are plenty of funds coming into the linear markets with up to $50 million (which is considered a small fund) to spend on houses.

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this post was submitted on 16 Oct 2024
991 points (93.0% liked)

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