Another valuable life lesson from Elmo and friends!
Another valuable life lesson from Elmo and friends!
CAPITAL-ism is aimed and designed to benefit those with the capital.
I hate this about our system. To combat this i am sharing equity with the guy that rents a room. I'm tracking how much his rent payments go to paying off the mortgage (which I can make myself, it's just a larger house with rooms to spare) he will get a check based off the percent he paid off on sale, or a percentage of revenue if we end up keeping and paying it off years later. Finance people think I'm crazy giving up that much equity. I just hated tossing rent money to the void, so I figured now that I'm in a position to change my little corner of the world, I will.
Have you consulted with a lawyer about this? The laws differ from place to place, but I'd be worried the equity you give him may also grant him some sort of claim on the house, which would mean he gets a say on financial things related to the real estate. This can complicate things in the future.
Also - what does "percentage of revenue if we end up keeping and paying it off years later" mean? That after he leaves you will pay him for his share in your house?
That's super cool, I've wanted to do something similar like this but never have had the opportunity.
The Nature of Capitalism... https://youtu.be/WseyrYuD8ao
Rich people who lived simply, "not underdeveloped, over exploited."
The bananas were a nice touch. It's sickening how politicians are using terms like "banana republic" divorcing them from actual meaning. I almost said, "and kangaroo court," but caught myself, before typing "court," since for a lot of North Americans struggling for any justice get that, for instance the college protesters.
Great theory until you get removed from your home trying to make a point because the family of 3 with nowhere else to go doesn't have the luxury of caring about things like this thanks to the broke ass system we all reside in.
Great theory until you get removed from your home trying to make a point
https://en.wikipedia.org/wiki/Rent_strike
When you get the whole building involve, it can be surprisingly effective.
the family of 3 with nowhere else to go doesn’t have the luxury of caring about things like this
You don't think a family of 3 cares when their rents double over five years while their wages barely budge?
No, I didn't say that. I said a family of 3 is going to take your house if they can afford it and you're too busy making a point to pay rent.
This is true. So not sure what point any of what you said serves, though you're not wrong.
Also, my grandma lived inna building where 90% of the tenants did this, came together and made their demands and refused to pay rent all together.
They were all removed systematically.
Not saying it never works, but it's alot for the average working class American to risk.
It is virtually impossible to work individually against landlords. Instead, form or join a tensnts' union. And maybe some orgs opposed to landlordism.
They're describing a job in that scenario too lol.
Yes, people lose their shit once they stop doing their job lol. Landlords in their version are effectively building mechanics and paper pushers keeping their property above board so people can live in it. Most of them I knew all had jobs outside of it too because it doesn't pay the bills lol.
Yes, it would be phenomenal if they dropped all their extra money into the stock market like your average person but they diversified or put it into equity instead since they didn't trust stock or had houses willed to them.
I get when people talk about slumlords, or giant corpos. But I've had to quote it before that the lionshare of them are people like I mentioned above with corpos buying out more and more in recent years because they're just as poor as everyone else.
Meanwhile even the most liberal people on here get baited thinking they're scum. Meanwhile billionaires are still laughing at the poors fighting each other thinking one job is better than other or villifying entire professions still.
Unionize. Reform land and property ownership. Vote in as many Progressive > Democrats to help make that happen. Vote yes on school ballot measures even if you get taxes. Run for government yourself if you loathe who represents you. Grassroot campaigns are hard as hell with a huge uphill battle, but poor people aren't excluded from government.
Yeah, they're not going to suddenly gain $50k+ cash for a down-payment to replace their home. Yes, a mortgage should be cheaper than rent but a renter probably can't save an extra 3 year's worth of rent to put it down.
I mean, this is how businesses work in general. If you don't buy their products/services, then they wouldn't be able to continue providing them.
I understand that we're trying to draw attention to exploitative landlords, but if anyone can afford to keep their property regardless of whether or not you pay rent, it's the exploitative ones.
The problem is that landlords don't create value, they seek to endlessly profit off of one time labor. Rent-seeking creates no real Value of any substance.
That's the naivete of the Internet talking. Of course landlords create value; they do so in exactly the same way lenders create value: they absorb risk by amortizing upfront costs and charge a premium to do so.
If you didn't agree that it's an ethical way to participate in the economy, say that. Don't try to pass off a moral judgment as an objective truth.
They do create value. They provide maintenance free housing as well as short term housing (short term as in 1-3 years.) Not everyone wants to stay in the same location for 5+ years. If you move around alot It you want to rent is usually the better option.
Now sure you could argue they are over charging for that service but that doesn't mean they aren't providing value.
The only reason why we are having issues is because there is a housing shortage that is raising the price and large companies have taken advantage of this by buying up all the houses at the crazy price and renting them out at crazy rent prices eating up the market for actual people to want to buy a house.
Generalizations that are oversimplified to the point of lacking all nuance are probably untrue because there are bound to be exceptions. Instead, try including 'many', 'most', or such as an easy remedy.
Specifically, landlords can create value when they handle property management and maintenance (and the related costs) efficiently. It is wrong that greed has made that so rare.
I mean, this is how businesses work in general. If you don’t buy their products/services, then they wouldn’t be able to continue providing them.
Of course people can simply refuse to buy housing and end up on the street, which isn't dangerous or criminalized or anything/s
Additionally the meme is disingenuous. Meant to appeal to emotion. What Elmo and Zoe are conveniently ignoring is that the party who is being provided with housing is the tenant.
Stop paying rent to see who loses their home. It's an ugly system.
Who forecloses on the tenant? The landlord
Who forecloses on the landlord? The bank
Who actually performs the eviction? The sheriff's office
Who therefore truly controls the property?
We prefer the term housing provider.
ALAB.
No they aren't all bad. I've had good ones. They were there for us at the drop of a hat to fix things, they didn't over charge. We paid rent on time and they gave us good references for the next places we would move to. My friend currently rents a 1 bedroom apartment for 800$ in a six unit building. They asked the landlord why they don't charge more when they could easily ask 1500$ plus. He said he knows he could but he also is aware that's not in the budget for a lot of Canadians right now. So he only asks for what he needs to cover his own costs. Would you say that landlord is bad? My friend can't afford the upkeep of unexpected home maintenance and utilities on her current budget.
But if you need a place to rent... Quid pro quo.
No, they need a place to live, and it just so happens that the landlords have collectively bought up most of the available housing. It's like saying that a ticket scalper is providing value.
Rocko is the landlord
A lot of people on the comments seem to have had landlords who “fixed things”
I used to rent, and then decided to buy my own home right before it became impossible to do so for most people. I wouldn't be able to afford to buy a house nowadays. I lucked out.
Renting was better in many ways because Jesus Christ there's so much shit I have to pay to fix. 5000$ furnace in the middle of -25 weather. AC 3500$ died in summer. roof leak repair 1500$.. , rotting deck 5000$ DIY. Foundation repair, crawlspace encapsulation, toilet replacement+flooring (35 year old terlet was leaking for years and had rotted the boards underneath). Fridge broke and had to buy our own to replace it, same thing happened to the stove. Back when I rented I would call the landlord and they'd replace it at no cost to me. It's a good thing we have credit to put this shit on, because without it we would be fucked. We used a mini fridge for 6 months because we had to save for a full size fridge when ours broke.
House maintenance is a killer. I can't just call my landlord up and tell them it needs to be done. Or if I had a shitty landlord who doesn't want to fix shit, like I've had in the past, I can't NOT care, move out eventually and it's not my issue once I'm gone. It'll come back to bite you when it's a house you have invested in and own. Owning houses is expensive. Renting has a lot of perks and one of them is you aren't required to keep up the house. All that falls on the person you are renting from.
Now the frigging cost that some landlords are charging is criminal and a whole other story.
I think the trade is, you take on the purchase of the house, and the landlord takes on all the downside risk.
I think the trade is, you buy the landlord a house, the landlord gets a house, and the landlord gets the capital gain on the house.
No, the taxpayers take on the risk because the landlord uses an LLC.
Yeah, I'm generally ok if somebody is charging a reasonable rent which covers their reasonable mortgage, so long as they're still taking care of all the other stuff (repairs, city taxes, etc).
What burns me is people who either a) knowingly buy in a hot, excessively priced market with full intent to charge excessive rents while providing absolutely minimal service or support
b) bought 10+ years ago but have pumped up rents to the same as those who bought at mortgages 2-3x the rate, citing "market rates" and often doing sketchy things to raise rents including renovictions etc, while being shitty - often absentee - slumlords
Maybe I'm showing my age, but there did used to be quite a good number of mom & pop type landlords who weren't shit, and while the commercial ones cost a bit more there was a decent mix.
Now, the commercial ones are actually mostly a safer bet in small cities. They'll raise rent every year but consistently, and the decent ones are pretty prompt about repairs and not fucking people over deposits etc. There are bad ones but it's pretty easy to tell which are which. The problem is of course that availability at the good ones is lower and they do cost more.
Good private landlords are increasingly hard to come by, as the best ones generally end up quitting after either getting too old or after a bad tenant experience, while the slumlords have leveraged their existing properties to finance buying more and more, leading to a market full of increasingly overpriced mould-monsters.
GPU/ticket scalpers take on a risk too. But we don't give a shit about them getting fucked by the risk, neither should we give a shit about landlords getting fucked. They're no different than scalpers.
But what's worse is, usually they never take on risk to begin with. Insurance companies take on the risk of actual damage. Banks take on some of the risk from the mortgage.
And usually, these landlords are operating under LLCs of some variety. So even if things went belly up, the fat cats get golden parachutes and the maintenance people get fucked.
Landlords are a scurge, and need to be ended as a social class.
Yea I rent my first house out. Mortgage is 900 and they pay 2000. If they bought my house right now it'd cost them 2800 monthly. Plus their rent is cheaper than the local average by a long shot.
So you prefer having a millionaire landlord, noted..
I prefer no landlords at all
Do you mean that housing should be provided by the government? By the tax payers? And what about maintenance? Is that also provided by the taxpayers? So they would pay people to come fix up the house you live in for free? I guess I'm just not quite sure how you think it all works.
..So you're not living in the house in which you pay rent? You're paying for the landlord to live there?? Then where do you stay??? What is this logic??? It doesn't make sense.
