this post was submitted on 13 Sep 2024
1277 points (96.9% liked)
Memes
45264 readers
2972 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
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.
There's no Value created by risk, that's an ad-hoc justification for profiting endlessly off of labor performed one time long ago.
Houses are not "one time labor.". Housing requires constant scheduled maintenance and upkeep over time.
Not to mention the financing required to pay for it all,which is normally spread over 30 years.
Building a house is one time. Maintenance creates Value, yes, but one only needs to compare the cost of maintaining a house with the cost of renting it to see that the vast majority of profits come from rent-seeking. It's non-productive extraction.