Who wouldn't want to earn a passive income that directly pays off the assets required, which themselves appreciate value at an alarming rate? The only trade-off is that you have to be willing to do it by stepping directly on the necks of others. That's what being a landlord is, if you're able and willing to join a group of persons who are directly disadvantaging other people then look no further than investing in real estate!
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Landlords are exactly that, lords; One of the most blatant examples of the feudal practice persisting in the modern era. So many people these days are forced into situations where they are forced into a situation of eternal servitude, paying massive percentages of their income into the land that they don't even own just so that they can have a roof over their heads. The problem with renting lies in the fact that you're effectively burning a massive pile of money; it's not going towards any future benefits for you and is just an expense to survival. You're not paying off anything for yourself; you're paying off someone else's asset, someone who is part of a group of people who already had enough capital to price you out of being able to buy for yourself.
Let's face it: renters' uphill battle is a massive problem in our culture. Various cities across the world have their renters paying somewhere greater than 30% of their income to rent; That's a huge chunk of change for something that is doing nothing for your future. Cities that I looked into for this figure included Seattle, New York, Vancouver (B.C.), and Auckland (NZ) each of which has a population that is now paying over 30%. Renters in metro Vancouver actually pay closer to 40%. This is insane, especially when most financial institutions and analysts recommend that you pay no more than 30% of your income to rent, with that number intended to be a hard limit.
/rant
Anyways, this became a hot topic of conversation on Reddit's r/Antiwork subreddit yesterday after a Reddit user, u/skyeyemx, posted this image to the popular community with the title “Rent went up so high, my mother's gonna have to move for the first time in a decade. Meanwhile, the landlord got [a] new toy today.”
The thread sparked debate amongst readers around the ethics and issues of renting as it exists today.
Keep scrolling to see screenshots of the thread below. For more similar stories check out this post from last week.
This photo of an Acura NSX was posted to the popular r/antiwork community and the source of the debate.
The readers discussed and debated the issues in the comments.
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