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Joined 8 months ago
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Cake day: October 28th, 2023

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  • That same logic applies to landlords though. They don’t provide housing, they provide a service. They provided the capital for the construction workers, plumbers, electricians, etc.

    Insurance and taxes are forced as part of typical mortgage payments because otherwise people wouldn’t pay them. Coordinating repairs and hiring out those jobs is also part of the service.

    Part of the problem is that rent is more expensive than a mortgage. Another problem is that a majority of rentals are owned by corporations that cartel to have ever increasing rental rates. Rent increases aren’t tied to anything except they can raise the price on a whim.

    If you mortgaged $200k at 3% in 2020 you had a house note of $850. That same house would require a $350k mortgage at 7.5% is $1400. The landlord has the same house note on the same property but is charging rent like they just bought the house last week.


  • Can you elaborate on that? The only thing I can think of is the government owns the property and rents it out and can keep the rent to what it costs I suppose. But utilization of the spot seems problematic over the long long term.

    High value locations due to proximity to services and public transit would be filled almost instantly and a family could live in that spot for 80+ years.

    Someone moving to a new city would basically only be able to find housing in less and less desirable locations. Living in the city center versus 30 minutes out of town would cost the same I assume. You’d really want to know someone who works in the organization that manages properties to know when something is coming available and put in your application before it’s public.