LogFAQs > #942897404

Solid Snake07 posted...

Rental properties only exist if there's a demand for them. If there were a high demand for more affordable housing that a developer could turn a profit in building then they would build those houses.

Rental markets are driven more by people who don't want to own than people who can't afford to own. Which is fine. Owning is a really big liability that ties you down. There's nothing wrong with not wanting that. But those people have to live somewhere so they're gonna rent. And people will provide them somewhere to rent of they can make a profit doing so.

Renting isn't a bad deal. Yeah you pay a slight premium but you aren't paying property taxes. You aren't paying for water/sewage/trash in many cases. And you aren't responsible for repairs.

Theres *always* a demand for rental properties though. Housing is inelastic. People need places to live, and to the extent to which theyre able to do so, they will pay more because its not really negotiable. And renters *are* responsible for the condition of the rental property, thats why security deposits exist. Its true that landlords will provide housing if they are able to turn a profit from it, but the issue lies within the fact that they are raising the cost of living simply by their presence requiring a profit, and they obviously have incentive to maximize profit wherever they can. Also, as a renter I can assure you that most renters are still paying for water, trash, and other utilities. Sometimes the various payments are consolidated into one larger payment and marketed as utilities included, but youre still paying for it. You are correct in saying that the flexibility of renting and the lack of property taxes are obvious benefits though, Ill agree with you there.

edit: formatting

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