Reason I’m asking is because I have an aunt that owns like maybe 3 - 5 (not sure the exact amount) small townhouses around the city (well, when I say “city” think of like the areas around a city where theres no tall buildings, but only small 2-3 stories single family homes in the neighborhood) and have these houses up for rent, and honestly, my aunt and her husband doesn’t seem like a terrible people. They still work a normal job, and have to pay taxes like everyone else have to. They still have their own debts to pay. I’m not sure exactly how, but my parents say they did a combination of saving up money and taking loans from banks to be able to buy these properties, fix them, then put them up for rent. They don’t overcharge, and usually charge slightly below the market to retain tenants, and fix things (or hire people to fix things) when their tenants request them.
I mean, they are just trying to survive in this capitalistic world. They wanna save up for retirement, and fund their kids to college, and leave something for their kids, so they have less of stress in life. I don’t see them as bad people. I mean, its not like they own multiple apartment buildings, or doing excessive wealth hoarding.
Do leftists mean people like my aunt too? Or are they an exception to the “landlords are bad” sentinment?
Tell that to my mortgage.
For the record I own exactly one house, it’s in terrible condition and I don’t have the funds to renovate. Because of the mortgage.
In this case, your debt is the investment
For me it’s an investment in freezing my housing costs. I bought 8 years ago and since then the increases in my housing costs have been around 5% as taxes go up. In the same time period, rent for the apartment I was in previously has gone up 65% and is higher than my mortgage payment. Had I not purchased a house there’s a good chance I would have had to either move in with family or move to a much cheaper area.