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.
The ability to rent is useful, but the idea that endlessly profiting off of the same property and doing minor maintenance is creating Value is silly. There's no Value being created through simply owning something. Maintenance creates Value, yes, but that does not make up anywhere close to the profit of landlording.
Value is created by the use of something. If someone is living in a house then it is providing value.
As long as the something is useful it can provide value endlessly.
What is "Value?" We are talking about different things here under the same term. You are referring to "Use-Value" as Value itself. A Use-Value being created has a Value, it will provide it's Use-Value until it is consumed fully.