I’m no real estate expert, but I’m starting to think landlords are bad for the long-term economic health of society.
There’s certainly many more factors that influence the financial troubles of the day — inflation, taxation, minimum wage, labor shortages, supply and demand, billionaires, government officials with ulterior motives, etc.
But, people buying second or third houses just to rent them out and make a buck feels like it’s taking away the opportunity for someone else to own. Sure, it’s great “passive income” to have an $800/mo. mortgage and charge $1,700/mo. in rent… but it seems that most landlords don’t consider the reality of how insane that is for a person to pay.
Most people would much rather just buy the house and pay that same mortgage. But they can’t, because the housing market is so insane, partially due to — you guessed it — inflated housing prices.
Maybe I’m just salty that someone 30-50 years ago could buy a whole-ass house with what I pay in a few months of rent. Either way, not a fan of using someone’s home as a way to generate income. The market allows for it, but I’ve decided it’s not for me.