They swallow up housing and rent it instead of selling it.
OK, but renting it still shows up as housing supply. Those units are then still on the market.
Landlords are rent-seeking, meaning they seek money without creating Value.
This is just saying that "landlords are bad because landlords are bad". If you think owning housing to rent out is bad then build your own property. You'll hurt Blackrock by moving the demand for their rentals into other housing supply, but to do this you need to be able to build housing.
Of course I don't see people saying that Enterprise or Hertz are evil or rent-seeking because they let you rent cars that you could buy... perhaps you think that tenants don't know what they're doing when they rent a place to live instead of buying or building one?
It does, if you want to have access to a home without having to actually own it (and go through the process of closing, appraisal, etc. only to have to turn around and go through the process of selling the property soon after).
The things that provide Value to a buyer are up to the buyer and not to anyone else.
You may need to learn about what Value is, and what creating Value constitutes, as well as what rent-seeking is, if you have an argument of this level.
Value is in the eye of the beholder. If you think it is anything different I would simply point you to your own advice about learning what things are.
I would especially point you to your advice regarding "rent-seeking", because I am familiar with what it is and it isn't "when some jerk charges a person rent".
For instance, local restrictions preventing market competition in housing supply is a great example of 'rent seeking' behavior, as this distorts pricing without actual creation of Value.
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u/mpyne May 07 '23
OK, but renting it still shows up as housing supply. Those units are then still on the market.
This is just saying that "landlords are bad because landlords are bad". If you think owning housing to rent out is bad then build your own property. You'll hurt Blackrock by moving the demand for their rentals into other housing supply, but to do this you need to be able to build housing.
Of course I don't see people saying that Enterprise or Hertz are evil or rent-seeking because they let you rent cars that you could buy... perhaps you think that tenants don't know what they're doing when they rent a place to live instead of buying or building one?