Subj : Re: 3.5 weeks to being la
To   : Spectre
From : boraxman
Date : Wed Jul 20 2022 00:11:51

 Sp> I think you're looking at two seperate groups... the "investors" and the
 Sp> "landlords".  Traditionally the landlords have been in it for the long
 Sp> haul and may slowly acquire a few properties over time as they pay for
 Sp> themselves, generally they're looking to retain and rent said properties
 Sp> for the long haul.
 Sp> 
 Sp> As opposed to the more recent "investor" type which because property has
 Sp> already been booming have gone out there to buy everything in sight they
 Sp> can afford with the idea of flipping it as soon as the value to debt
 Sp> ratio is high enough.  Its this latter group that are really doing the
 Sp> damage.
 Sp> 
 Sp> If you wacked this lot into a venn diagram these days, they'd no doubt
 Sp> overlap some of the "landlord" group will have been sucked into the
 Sp> investor group by cheap profits.
 Sp> 
 Sp> Spec

Buying property to become a landlord is an investment.  You are differing between short term and long term investors.  Some landlords are developers, but for those purchasing existing stock to rent out, they don't qualify as developers.  Even those who do buy existing stock to tear down and build townhouses, that is primarily profiteering to take advantage of government sponsored demand by means of high immigration and favourable banking conditions.  A long haul investment is still an investment.

Landlords have value when they are adding necessary supply of rental properties where there is demand for people to rent, but I contend this is not typical.

We as a society are conditioned to put the needs of capital over people.  We allocate resources to serve capital, not people, which is why the West is screwed, and our society is declining while other powers rise.

Houses exist to house people, for the nation to house itself, to bring up the next generation.  If we are looking at a situation where competition for these resources is won by Capital seeking passive return over its intended use, then something is seriously wrong.

We need to change things to stack the deck in favour of houses, well, housing people!  I'm not saying that no one should not make a return in providing housing, but the economic activity regarding the buying and selling of property, in particular residential property should be far more strictly controlled to ensure only genuinely productive "investment" can occur.  I would go so far as to say that someone simply buying up houses to build a portfolio should NOT have the freedom to do so, though I would prefer a heavy tax burden for such hoarders.

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