this post was submitted on 29 Sep 2024
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Just putting it out there that "property owning" is not the class deliniator! I "own" my house/property and the only differences are that i pay rent to a bank instead of a landlord, and i can knock holes in the walls if i want to.
I'm still pretty much paycheck to paycheck, squarely in the working class.
We dont want your toothbrush dude
Eh?
Tis the difference betwixt private and personal property, we don't want your toothbrush but your toothbrush factory however...
If you're paying rent to a bank, you don't own your house, at least not yet.
Of course you're working class. It's about the owners of Capital property. Does your house that you own (which I doubt since you imply you have a mortgage) make money for you?
It's us versus a very small number of them.
Well technically thanks to the rising housing cost crisis I've gained about 50k in equity in the past 3 years. Does that count?
I would say no.
do you get to spend that money and keep your house?
🥲
No. Rent and mortgage are two different things. One is a fee for service and one is a loan.
If your home that you own doubles in market value and you decide to sell it, you pay off the mortgage (loan) and keep the profit (capital gain). If you are renting and the home is sold, you gain nothing.
If your home that you own burns down, you still owe the bank the money you borrowed for purchase (mortgage). If you are renting the home that burned down, you don't owe anybody money. There is to service to pay a fee for anymore.
Like sure, fuck capitalism. But we don't need to misrepresent how these systems work.
Yes of course there are actually a lot of differences, being a homeowner after renting for years I am very aware. My comment, partly in jest, was focusing on practical day-to-day differences. But also, getting equity in your house is actually not that big of a windfall if you sell, because you still have to live somewhere and the other houses/rentals have all gone up in cost to match. I suppose if I was to move in with someone... but I dont plan on doing that ever.
But anyways yea fuck capitalism