All landlords, regardless of how many properties they rent out, are ultimately producing nothing. They sit on property and leech money off of the economy. The scale at which it is done does not change the core “product” (which isn’t a product at all, in the traditional sense, because it is not produced). It’s a classic grift.
Not everything people pay for produces a tangible object. For example, people pay to hear someone play a song. People pay to hop in an Uber to get from point A to point B – they don’t own the car they ride in afterwards.
People pay for services and there’s nothing wrong with that.
I guess it really depends on whether or not the landlord is a slumlord or not.
Home ownership is not easy. Homes and properties require constant care and maintenance, for those who care about them. Having two properties can easily eat up 2-3 days a week, year round.
Absolute bare minimum I put at least $10,000 into my house every year, and that’s if I do all the work myself and nothing major breaks.
Paint, decking, siding, roof, furnace, plumbing, electrical, lighting, exhaust fans, yardwork, insulation, windows, doors, cabinetry, appliances, replacing sewer lines, cleaning french drains, gutters, etc etc. They may not all need work in the same year, but they do all need work and some of those jobs are a major time and money commitment.
To say property ownership is a passive income is ignorant at best, but more likely disingenuous. If it’s truly passive, it’s only passive for a short period of time before the costs catch up to you and your “investment” is ruined.
Free money is not a thing… Except for people who do nothing that anybody wants to trade for money, and then it’s their entitlement and fuck everyone else?
And yes everyone deserves housing, food, healthcare, and a shot at happiness. But taking something for nothing on the backs of people with more to offer than you and then being an ungrateful dick about it saying you just deserve it is pretty off-putting. Let’s all share and make sure everybody gets a shake, but JFC be gracious and say thank you if you are on the take of the system. Putting money in real estate by a college campus is not the same as buying up every new house on the market in an area, I just want a place to put my money that isn’t going to go tits up before I can put my kids through college.
Some people don’t have shit to offer society, and some of those people ARE rich. Some of them are not rich, and gotta have a big fucking pair of nuts to throw around words like “leech”.
I just want a place to put my money that isn’t going to go tits up before I can put my kids through college.
Tbh I generally empathize there, but it’s a bad argument for passive incomes. It sounds like the claim is about an unstable monetary system, not that landlording isn’t a passive income. If you don’t like that your money isn’t safe, that’s one thing – but different from this thing.
“Leech” is selected because they suck blood, which (figuratively speaking) is exactly what passive incomes do to other people, in particular for things like housing. It is a strange claim to say that “everyone deserves housing”, but then to hedge it by claiming some people have a good excuse to take advantage of a broken system. You’ll find far more landlords taking “something for nothing” than you will tenants.
It’s leeching to landlord. It’s leeching to put it in the market to get passive income. There’s some magical point where it’s too much money to keep in a bank account by either FDIC or people saying “bro there are homeless folks on the street!”
If you have money in any quantity, it makes no sense not to put it to work. I can take it out and out it in a mattress in my house for safe keeping, but functionally that’s stupid. There are plenty of people who aren’t trying to screw anybody who have more money than makes ends meet AND are onboard with the same causes, but for some reason we gotta do a scarlett L if they put it in real estate?
For the I have less than 1M but more than 100K crowd, I don’t know what the general population of this thread expects. This is the wealthiest most of us can ever hope to be. It’s not by any means fuck you money, but it sure gets fuck you treatment.
circuitfarmer@lemmy.sdf.org 1 week ago
All landlords, regardless of how many properties they rent out, are ultimately producing nothing. They sit on property and leech money off of the economy. The scale at which it is done does not change the core “product” (which isn’t a product at all, in the traditional sense, because it is not produced). It’s a classic grift.
So, yes: all landlords.
mke_geek@lemm.ee 1 week ago
Not everything people pay for produces a tangible object. For example, people pay to hear someone play a song. People pay to hop in an Uber to get from point A to point B – they don’t own the car they ride in afterwards.
People pay for services and there’s nothing wrong with that.
circuitfarmer@lemmy.sdf.org 1 week ago
Renting is not a service. It is a passive income.
People playing a song or driving a car for someone else are performing a service.
mke_geek@lemm.ee 1 week ago
Providing rental housing is a service. It’s a job, like being a waiter or a flight attendant.
RandomCucumber@lemm.ee 1 week ago
I guess it really depends on whether or not the landlord is a slumlord or not.
Home ownership is not easy. Homes and properties require constant care and maintenance, for those who care about them. Having two properties can easily eat up 2-3 days a week, year round.
Absolute bare minimum I put at least $10,000 into my house every year, and that’s if I do all the work myself and nothing major breaks.
Paint, decking, siding, roof, furnace, plumbing, electrical, lighting, exhaust fans, yardwork, insulation, windows, doors, cabinetry, appliances, replacing sewer lines, cleaning french drains, gutters, etc etc. They may not all need work in the same year, but they do all need work and some of those jobs are a major time and money commitment.
To say property ownership is a passive income is ignorant at best, but more likely disingenuous. If it’s truly passive, it’s only passive for a short period of time before the costs catch up to you and your “investment” is ruined.
dream_weasel@sh.itjust.works 1 week ago
Free money is not a thing… Except for people who do nothing that anybody wants to trade for money, and then it’s their entitlement and fuck everyone else?
And yes everyone deserves housing, food, healthcare, and a shot at happiness. But taking something for nothing on the backs of people with more to offer than you and then being an ungrateful dick about it saying you just deserve it is pretty off-putting. Let’s all share and make sure everybody gets a shake, but JFC be gracious and say thank you if you are on the take of the system. Putting money in real estate by a college campus is not the same as buying up every new house on the market in an area, I just want a place to put my money that isn’t going to go tits up before I can put my kids through college.
Some people don’t have shit to offer society, and some of those people ARE rich. Some of them are not rich, and gotta have a big fucking pair of nuts to throw around words like “leech”.
circuitfarmer@lemmy.sdf.org 1 week ago
Tbh I generally empathize there, but it’s a bad argument for passive incomes. It sounds like the claim is about an unstable monetary system, not that landlording isn’t a passive income. If you don’t like that your money isn’t safe, that’s one thing – but different from this thing.
“Leech” is selected because they suck blood, which (figuratively speaking) is exactly what passive incomes do to other people, in particular for things like housing. It is a strange claim to say that “everyone deserves housing”, but then to hedge it by claiming some people have a good excuse to take advantage of a broken system. You’ll find far more landlords taking “something for nothing” than you will tenants.
dream_weasel@sh.itjust.works 1 week ago
So where does the money go then?
It’s leeching to landlord. It’s leeching to put it in the market to get passive income. There’s some magical point where it’s too much money to keep in a bank account by either FDIC or people saying “bro there are homeless folks on the street!”
If you have money in any quantity, it makes no sense not to put it to work. I can take it out and out it in a mattress in my house for safe keeping, but functionally that’s stupid. There are plenty of people who aren’t trying to screw anybody who have more money than makes ends meet AND are onboard with the same causes, but for some reason we gotta do a scarlett L if they put it in real estate?
For the I have less than 1M but more than 100K crowd, I don’t know what the general population of this thread expects. This is the wealthiest most of us can ever hope to be. It’s not by any means fuck you money, but it sure gets fuck you treatment.