Landlords take on risk. For example, when I rented an apartment, I came home one day to a plumbing disaster. I called emergency maintenance and left. The landlord fixed it and paid for my hotel in the meantime. As a home owner now, that would be entirely on me to figure out. I’m pretty handy, but I have no disrespect for someone who doesn’t want to be responsible for that.
More importantly, selling a house costs about 10% of the value of the house, and the first few years of a mortgage you’re mostly paying interest. If you move every 3 years, it’s actually cheaper to rent than to buy. It’s just that your money is going to a landlord instead of to banks and realtors.
So while I see your argument that landlords don’t “deserve” the money they make, practically they’re an important part of the housing market, and I respect people who make an informed decision to rent.
What do you mean no choice? There’s always a choice.
Realistically many people don’t have a choice to buy, because they don’t have the credit score, reliable income, or down payment, but I don’t see why that blame falls on landlords and not on the banks or the government?
Because plenty of folks would have a solid down payment, or better credit score, if rent wasn’t so damn high. Likewise affordable rent would make it easier for folks to move to places where they could get the type of stable job necessary for a mortgage, etc. It’s not the only reason folks don’t have the economic resources at hand, but it’s usually the biggest expense in ones budget, no?
Greedy landlords are the problem, imho, and unfortunately every landlord except exactly one I’ve rented from (out of about ten in total) have been greedy assholes.
As for a fix: housing is a right, imho. I’m not an economist so anything I offer will be full of holes, but some way of securing that people have stable, safe, comfortable housing is essential. Making sure people can’t exploit the need for shelter is a big component of whatever fix we need.
Landlords take on risk. For example, when I rented an apartment, I came home one day to a plumbing disaster. I called emergency maintenance and left. The landlord fixed it and paid for my hotel in the meantime. As a home owner now, that would be entirely on me to figure out. I’m pretty handy, but I have no disrespect for someone who doesn’t want to be responsible for that.
More importantly, selling a house costs about 10% of the value of the house, and the first few years of a mortgage you’re mostly paying interest. If you move every 3 years, it’s actually cheaper to rent than to buy. It’s just that your money is going to a landlord instead of to banks and realtors.
So while I see your argument that landlords don’t “deserve” the money they make, practically they’re an important part of the housing market, and I respect people who make an informed decision to rent.
And people who have no choice but to rent, and get fucked over repeatedly because of it?
What do you mean no choice? There’s always a choice.
Realistically many people don’t have a choice to buy, because they don’t have the credit score, reliable income, or down payment, but I don’t see why that blame falls on landlords and not on the banks or the government?
Because plenty of folks would have a solid down payment, or better credit score, if rent wasn’t so damn high. Likewise affordable rent would make it easier for folks to move to places where they could get the type of stable job necessary for a mortgage, etc. It’s not the only reason folks don’t have the economic resources at hand, but it’s usually the biggest expense in ones budget, no?
Greedy landlords are the problem, imho, and unfortunately every landlord except exactly one I’ve rented from (out of about ten in total) have been greedy assholes.
As for a fix: housing is a right, imho. I’m not an economist so anything I offer will be full of holes, but some way of securing that people have stable, safe, comfortable housing is essential. Making sure people can’t exploit the need for shelter is a big component of whatever fix we need.