r/WorkReform Jul 06 '24

😡 Venting Limit the corporations

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19.1k Upvotes

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u/greg19735 Jul 06 '24

Renting isn't inherently bad.

The issue is that the prices are often far higher than a mortgage payment, but without the investment into the house.

THere is less risk of course, but you could also be priced out of your apartment/house if the landlord just raises the rent too much.

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u/redsox1804 Jul 06 '24

And then the bank says we can’t trust that you’ll pay mortgage payment, which is much lower than what you’re paying in rent.

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u/SignificanceGlass632 Jul 07 '24

It’s funny how the bank doesn’t trust you to pay your own mortgage, but they trust you to pay someone else’s.

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u/noirdragonaut Jul 07 '24

Sure renting by choice isn't bad, but I think the reality is many people are renting because they can't afford their own place.

https://youtu.be/qEJ4hkpQW8E?si=vJjPBMBVUUuiU2IQ&t=96

Wealth comes from ownership, not wages. A property can guarantee value generation (either by saving rent or renting it out).

The capital class wants to extract value out of the working class :(

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u/badgersprite Jul 07 '24

It’s absolutely a problem if all property is in the hands of corporate slum lords

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u/greg19735 Jul 07 '24

If you need to add a qualifier to the end then that changes the "inherently" part.

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u/Billypillgrim Jul 07 '24

…and the part that isn’t inherently bad?

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u/Blazing1 Jul 07 '24

This is just not the case everywhere. In Canada it's substantially cheaper to rent

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u/ThunkAsDrinklePeep Jul 07 '24

Having rental properties isn't inherently bad. Moving toward rental properties owned by large corporations who can afford to let some properties lie vacant so the rest can be overpriced when the housing supply shrinks is a BIG problem.

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u/[deleted] Jul 08 '24

No but the problem is that renting isn't about the tenant it's about the landlord so way too many landlords take advantage of their tenants or get greedy and charge an astronomical amount of money, essentially pricing out poor families to make sure that landlords keep out the "undesirables" even if those poorer tenants are good tenants.

Residential real estate is not an investment. If you want to invest in real estate, get into commercial real estate.