• pivot_root@lemmy.world
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        1 year ago

        A landlord takes property off the market and provides housing that costs more than mortgage payments.

        FTFY

        • mke_geek@lemm.ee
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          1 year ago

          A landlord does not take housing off the market. Rental housing is still on the market for families to live in.

          Rent costs more than mortgage payments because it includes the payment for services to the owner. If you work a job you expect to get paid for your work and so does the landlord.

          • pivot_root@lemmy.world
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            1 year ago

            I said they take property off the market, not housing. By buying it and holding it indefinitely, that property is no longer available for purchasing.

            Yes, services. Services that an owner could very well get done himself/herself without the bureaucratic overhead of having to use the landlord as an intermediary to a contractor.

            The only landlords that could get things done faster than doing it yourself are those who have contractors and supplies on call. In other words, management companies or multiple-property landlords—the same ones who are in it solely to profit from the lack of available housing in urban areas.

            • mke_geek@lemm.ee
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              1 year ago

              The property is still available for families who want to rent it. You take all the rentals off the market and those who want to rent housing will have no choices.

              There’s still many properties available to purchases. Having a mixture of some properties for rent and some of sale gives people choices.

              Many people don’t have the skill or resources to manage their own property, let alone pay for large expenses all at once.

              • pivot_root@lemmy.world
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                1 year ago

                You’re conflating “property” with “housing”.

                We can agree that the land and building is still available as housing, but it’s not property. The renter has no stake in the real estate. They don’t own it. It’s not their property, and their privilege to stay in it is subject to the terms of the actual owner—the landlord.

                There’s still many properties available to purchases.

                Sure, if you can afford an $700k apartment with a down payment of jack-diddily-squat because most of your income went to paying off some other guy’s mortgage and topping up their savings.

                While we’re at it, let’s keep pretending that people purchasing property for the sole purpose of rental doesn’t artificially increase demand and drive up pricing.

                Many people don’t have the skill or resources to manage their own property.

                If you don’t have the skill to Google the number of an electrician or other tradie, I don’t know what to tell you.

                Let alone pay for large expenses all at once.

                That’s what a mortgage is for.

                • mke_geek@lemm.ee
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                  1 year ago

                  They don’t own it.

                  And therefore don’t have to incur the burden of large expenses such as replacing a roof, a sewer line, etc.

                  if you can afford an $700k apartment

                  If you want to cherry pick an example of the most expensive areas of the country instead of the more reasonable examples of a $70k single family house. But then the person buying the property is responsible for all the repairs and maintenance.

                  doesn’t artificially increase demand and drive up pricing

                  The lack of housing development with increased demand creates a housing shortage. When there’s a shortage, pricing goes up. The United States is at least a decade behind where they should be in housing development.

                  That’s what a mortgage is for.

                  A mortgage just pays the bank for the loan. A mortgage payment does NOT pay for repairs on the property. If the furnace goes out in the middle of winter, it’s up to the homeowner to come up with the money – typically thousands of dollars all at once.

                  • pivot_root@lemmy.world
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                    1 year ago

                    And therefore don’t have to incur the burden of large expenses such as replacing a roof, a sewer line, etc.

                    If someone bought a house without doing an inspection, that’s their own fault. If it’s a natural disaster, that’s why you have insurance. If it’s expected wear and tear, you would have emergency savings to cover it.

                    At least as a homeowner, I know I can actually get it fixed before freezing to death. Can’t say the same when waiting for profit-driven landlords to go through the script of checking it out themselves, finding some reason to claim its not broken, and then eventually pestering them for long enough that they do their damn job and hire someone to fix it in a couple weeks.

                    If you want to cherry pick an example of the most expensive areas of the country instead of the more reasonable examples of a $70k single family house. But then the person buying the property is responsible for all the repairs and maintenance.

                    The median price of houses in the country is $420k.

                    I’m sure I could build a nice doomsday-prepper shack in the woods somewhere for $70k, though.

                    The lack of housing development with increased demand creates a housing shortage. When there’s a shortage, pricing goes up. The United States is at least a decade behind where they should be in housing development.

                    And you don’t see how landlords—who are buying more real estate than they actually use—create increased demand?

                    A mortgage just pays the bank for the loan. A mortgage payment does NOT pay for repairs on the property. If the furnace goes out in the middle of winter, it’s up to the homeowner to come up with the money – typically thousands of dollars all at once.

                    I refer back to my first point.

      • Radioactive Radio@lemm.ee
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        1 year ago

        They buy all the houses and put them up on a subscription service that costs more than what the person would’ve paid for it and keep increasing the prices every month.

        • mke_geek@lemm.ee
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          1 year ago

          When someone is on a lease, the rent amount cannot increase during the lease period. At the end of the lease period, the person is free to move somewhere else.

      • Honytawk@lemmy.zip
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        1 year ago

        If the mortgage payment is the SAME or MORE as the rent, you aren’t providing shit.

        • mke_geek@lemm.ee
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          1 year ago

          That’s incorrect. Houses need maintenance. They are not self healing. Things break, items need replacing, grass needs to be cut, light bulbs need to be changed, etc. Tenants also need to be managed.

          • GlitzyArmrest@lemmy.world
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            1 year ago

            Interesting that every rental I’ve been in is in some state of disrepair, if that’s what you claim the extra is for. You’re purposely avoiding the fact that rentals are there to make the landlord money, and nothing more.