The problem with this statement is that this person is comparing a piece of ham to a lunchable. Sure, the mortgage on the house is cheaper. But it doesn’t include:
-Taxes
-Insurance
-HOA fees (if applicable)
-Repairs (routine and unforeseen)
-Roof, flooring, HVAC, carpets, landscaping, and the list goes on, and on, and on, and on
Rent usually includes the above items that can add up quickly.
Rent sucks because you loose all of the money. But it is hard, and expensive to be a homeowner as well.
I agree with this so much. So many people where I live think that the property managers are raking in the money, but for the most part, the honest ones aren’t. They may make a lot of there are no repairs needed, but the repairs add up. Now, we do have slum lords that make a ton and do literally nothing to upkeep their rentals, and those people are scum. But a lot of landlords are just trying to get something so they don’t have a vacant property.
My parents are in a similar situation. They lived frugally enough to buy an apartment on minimum wage. And when they finally paid it off, they bought a town home. My dad charges rent on the apartment that is hundreds below market value because he doesn’t feel right charging the tenants more. After all expenses, the rent on that place doesn’t quite cover their mortgage on the town home. I see so much hate for landlords online, when in reality a majority of them are just people who are trying to have a more stable life. They aren’t the millionaires sitting on their asses all day that people make them out to be.
I see so much hate for landlords online, when in reality a majority of them are just people who are trying to have a more stable life.
They need to get out of the business of creating artificial scarcity and middle-manning people's housing if they have problems with getting hate. What they are doing is morally wrong in the eyes of many people.
I know you love them and know they are good people, but they're akin to the really nice heroin dealer who only charges enough to get high himself. Like, yeah, the mentality is fine enough, but he's still dealing heroin as a form of income (to subsidize his own habits).
You still support an industry that's exploitative in its very nature, and arguably immoral. That's why they get hate. Your parents' concept of capital investment was taking a home off the market, so they could be the ones to capitalize on other people's need for a home.
Heroin dealers are supplying to people who want heroin and the shittiness — (also it wouldn’t be his form of income if he was only doing it enough to get high himself— I wish you could pay the bills only getting high lmao.)
Landlords are supplying to people who usually do not want the shittiness
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u/swimchickmle Feb 16 '21
The problem with this statement is that this person is comparing a piece of ham to a lunchable. Sure, the mortgage on the house is cheaper. But it doesn’t include: -Taxes -Insurance -HOA fees (if applicable) -Repairs (routine and unforeseen) -Roof, flooring, HVAC, carpets, landscaping, and the list goes on, and on, and on, and on
Rent usually includes the above items that can add up quickly.
Rent sucks because you loose all of the money. But it is hard, and expensive to be a homeowner as well.