this post was submitted on 13 Sep 2024
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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.
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.
Keep in mind this isn't always the case. Landlords where I used to live are increasingly requiring tenants to pay for some maintenance costs. A past landlord had us pay for anything $300 or less.
This incentivizes the tenant to worsen any problems so the landlord has to pay.