This is close to my belief. Someone has to own the home and they’re worth hundreds of thousands of dollars (I’m not getting into the overblown values right now, one step at a time). Since most people don’t have $300k+ in cash (US non-metro), then they’re not buying it outright. What’s the difference between paying rent to a landlord or mortgage to a bank? Both are making a profit and both can kick you out for non-payment (again, one problem at a time). So, given the current state of housing, you can legitimately provide housing at a reasonable price that doesn’t require a 50k+ down payment first. I am not a landlord sympathizer, I am not a landlord. I’m just someone still putting 60% of my monthly mortgage payment into the interest accrued just in the last 30 days (read: new homeowner).
Don’t be a dick corpo fuck that buys blocks of houses and let’s them sit vacant to drive up scarcity. Don’t be a flipper that does a cheap reno to turn $30k of improvements into a $150k upsell. Don’t do the cheapest repairs to meet code for your tenants.
Delphia@lemmy.world 3 months ago
IMO owning property for investment only becomes unethical once you are profiting beyond a “good living”
Property is the safest and largest growth investment that real people can make and the most likely to create generational wealth. Demonising that only advantages the multi-billion dollar conglomerates who have absolutely no ethics.