this post was submitted on 12 Oct 2023
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A majority of the white collar people I work with brag about how many homes they own and rent because it's the best investment they ever made without having to put much work into it. One of them rents out his deceased mother's house left to him in a will for $9000 a month to a family of like 12 with 4 generations in it and it's only like a 4-5 bedroom house.
He isn't doing it to provide, he's doing it because it's good money. Stocks don't get you that instant cash back like renting does.
God I hope it's a bubble and I hope they all end up destitute trying to sell the houses. I don't even fucking care if I get it worse, I can't compete, and they all have like 3+ houses a piece.
Sure my direct acknowledgement of it is anecdotal but it doesn't change the fact that first time home buyers are way down and people buying property for investing are practically an all time high. In Canada investor buying is a third of all house purchases and at best they will rent for additional profit.
Edit: also what the fuck does that even mean? Literally just added nothing to the conversation and strawmam for what? That's not how people talk and you don't seem smart for saying it.