Exactly. I’m living in a triplex that sold for $1.4 million last year. My rent is less than 1/3 a 30 year mortgage (with a 3.5% down payment). My old landlord set the right price. I hope my new landlord does the same.
part of the reason house prices are always on the up, is because they agree considered an investment not a basic necessity. so there’s no interest in building more.
a house shouldn’t cost more than construction cost.
Depends what you define as landlord.
Guy who owns 2-3 duplexes in the city? Nah.
Big time landlord who makes hundreds of thousands of dollars from thousands of properties? BOIL EM!!!
Exactly. I’m living in a triplex that sold for $1.4 million last year. My rent is less than 1/3 a 30 year mortgage (with a 3.5% down payment). My old landlord set the right price. I hope my new landlord does the same.
1.4 million for a triplex??? That’s like…40k where I live.
It’s a 1970’s build too. Other triplexes are selling for way more or just less than that individually.
But this is in Seattle.
the guy who owns 2-3 duplexes can (and are incentivised) to be as cruel and inhumane as possible by the same capitalist forces.
if you ask me, rent shouldn’t be a thing. once you paid the value of the house in rent you should be able to claim it as your own.
Based on that definition you never stop paying. Homes values constantly go up. My dad bought a house in the 1970s. 33k.
Today the house has a value of 300k. Took him 30 years to pay off the original mortgage.
part of the reason house prices are always on the up, is because they agree considered an investment not a basic necessity. so there’s no interest in building more.
a house shouldn’t cost more than construction cost.
Yeah. We give the guy who owns 2-3 duplexes the chance to work and return the years of labor he stole from others. His sins can be still be repaid.
But if he resist. Well…
https://youtu.be/OjNpRbNdR7E