Things like this are the final transition into a service society, the slow and gradual abolishment of private property. If you sell something the only way you can have control is if they need to repair or buy another, under a rental you have far more power over the person renting.
This is the gradual enslavement of society. Things being taken away from you, only to be given back temporarily and if you follow the rules and obey your overlords.
Many Canadians are totally on board with this. "Everyone should be renting!" and "No one needs half an acer of grass!" are fully indoctrinated into them. They don't even seem to realize that they are advocating for either total corporate, or total government ownership of all land, all because they think a man who owns four houses and rents three of them is the devil incarnate.
The "all landlords are evil" deal is kinda funny to me. Mostly because almost all of their complaints have nothing to do with the single person/family owning extra homes and renting, but the big corporations that are just going to replace the small people. Getting rid of landlords won't suddenly make these people able to achieve home ownership, they'll just have to go to a larger, less accessible entity for the same thing.
Yeah they think they hate the landlord now, wait until it's all corporate. I have a property manager because they are out of state and I really don't want to deal with phone calls and rent collection. Still, it's my business and I do all the business side. Rent increases? I prefer to go easier on that if the tenant isn't a pain in the ass. It's easier for me that way. Property manager doesn't always agree (they get paid in percentages), but they don't have the final say. Maintenance? These are my houses and I'm kinda picky.
A megacorp it's just another balance sheet line. Rent will follow market exactly. Maintenance the bare minimum garbage. It will be like a home warranty company managing that stuff, my current personal house had some prior home warranty repairs. They were beyond shit. Not to mention things like if you own enough of the market you can manipulate prices more. It's just more fuel to bitch about evil landlords, and guess what it won't work, because the evil landlord corporation funds your politicians.
Its funny they dont go after bankers but go after landlords even though bankers are far more powerful. I wonder who has historically hated land owners cause they couldnt be one....
The same people who hate landlords are the ones that have fucked their credit so badly with unpaid maxed out credit cards and repossessed cars a bank would never give them a mortgage. The people they hate so much are the only ones willing to provide their asses with housing.
Hyperinflation is Already Here – You Just Haven't Realised It Yet.
1,248,354 views
•Apr 11, 2021
Economics Explained
1M subscribers
Hyperinflation has been a doomsday scenario for modern economies throughout the last century. In all of these failed countries (Zimbabwe, Venezuela, Hungary, Yugoslavia, etc.) there have been uniform warning signs, the same signs that we are starting to see today in the U.S.
You never really OWN a property in the US. There never comes a day when you don't have to make government payments on that property anymore. If you don't pony up every year they will seize it for payment. It's like renting but you can have a dog [licensed] and paint the bedroom purple; unless you bought in an HOA then you can't do that either.
Renting has other advantages, if the neighbors become shit and you hate the place, with 30 days notice you can pack up and go somewhere else, you're not stuck with the financial burden of a house with bad neighbors.
Believe me, even if you live out in the country there are bad neighbors. And if they too own their property they are probably never leaving, and they will piss you off for the next 30 years.
Renting may have short-term advantages but overall it's a massive burden. Which is why banks love it: they can extract MUCH more wealth from people.
Look at Germany for example: owning a house used to be something people aspired to. After decades of indoctrination it's now being seen as negative. The constant stream of "green" and "pro consumer" regulations also made sure that goal has become unattainable for most people.
Coincidentally Germans have some of the lowest personal wealth in all of Europe, especially compared to "poorer" countries like Italy. The German state might be wealthy, its people sure aren't. Renting is wealth distribution from the lower and middle classes to the upper class.
Surprisingly, here in soviet Europe the first 1500 m2 of a primary residence is tax free. The overall tax burden is over 50% for anyone making a decent wage though so it balances out.
Income tax ~20%
Social security ~15%
Employer tax ~10%
VAT ~20%
Various regulatory taxes, luxury taxes, alcohol tax, health taxes, environmental taxes, gas taxes, etc. add up to at least another 10%
Then some countries have a wealth tax too, there's inheritance tax, property tax, separate road taxes, public broadcasting taxes, private health insurance which in essence is an added tax of social security to turn your worthless universal healthcare into something that's actually usable, import taxes, special taxes to protect national production, then you have to pay for using highways. That's just from the top of my head.
Effective tax burden closer to 80%-90%
Then add another 20%-30% capital gains taxes on whatever is left over for you to invest.
There is diminishing returns on those percentages, but every dollar is also being taxed into non-existence by the time it changes five hands.
I have a dollar, I pay 30% to the government off the top. I pay sales tax when I buy something for 70 cents. The store pays 15 cents in tax, and buys 40 cents worth of goods. The distribution company pays 8 cents in tax and buys 25 cents in goods. The warehousing company pays 6 cents in tax and buys 15 cents in goods. The international shipping company pays 3 cents in tax, and buys 5 cents in goods. The local representative buys 1 cent in goods, claims he spent 4 cents, and pays 1/10th of a percent in tax.
And that doesn't account for the labor costs, and the taxes they and the employer pay, or the fact that that original dollar cost the employer 10 cents in taxes.
EDIT: My math is shitty today, but hopefully the point stands.
THIS is partly why I understood the need for brexit. Sure the paperwork and movement of goods was easier, but all the taxes still existed and worse it was taxed in EACH country.
People here in the UK still haven't learned that buying local should save you a ton of money, but even the local companies are price matching upwards for profit, rather than considering the tax chain losses they aren't suffering.
Even with real estate, as others have said, you still have to worry about property taxes, so if you can't afford to pay $1000 for toilet paper, you can bet that many of these homeowners are going to lose their property from unpaid property taxes when the value of the home increases exponentially.
Property taxes in many places can only increase x% per year. They can't simply follow the market or whatever the corrupt property appraiser deems your home is worth.
Difference is if you get pissed off with your neighbors you can sell your house and hopefully get most if not all/more money back out of it. Rent your pissing your money away. I’d take paying taxes on a house that is an asset than throwing it away in rent any day.
There is no WAY I would have anything to do with a fucking HOA. That's worse than renting, and you might as well live in a goddamn trailer park, you'll get the exact same kind of nosies and retards. They'll just have more money/better credit scores is all.
It's been happening slowly in the UK too. Its either all held by globo Estate agencies, or you just have to know someone.
For example anywhere on the northern line of England, assuming its not got loads of land or "vistas", a mortgage for a 3bed is around 450-550/m. Rent for said place, is around 750-900. That's assuming the house doesn't get "renovated" into three bedsits and then they're charged at 350/m a room each , with the bathroom/kitchen being shared.
I literally had one of these faggots call me yesterday. They were sending text messages before now they're cold calling. I just x5 the market value of my house and refuse to go lower. They really hate that.
It's incredible how the silent generation and the boomers have completely changed the US into a form of corporate feudalism in less than a single generation. They just can't help themselves in destroying anything and everything that helped them get to where they are today.
Would rather not have their big business money in it, but as someone who owns rental property it's damn good business. The worst case scenario I can fund taxes, mortgage, and keep funds for things like maintenance and vacancy and still break even. So yeah, I'm getting a lowering mortgage balance and holding value with inflation for free. Being that I hate debt and even keep that low in the business, I come out way ahead.
I get the idea the prevailing sentiment among normies is rent for eternity. I guess the media pushes this too as I've seen articles scaring people away from buying. Part of their problem I suppose is they can't buy smart, they will have to have their overpriced trendy metro loft that's full of hidden problems and a ridiculous HOA cost. So yeah, keep renting from me. Just no raging leftists. Not that they would live in my preferred areas to own. I stay away from blue places.
I bought my first house at 23 and it's the #2 reason that not so many years later I'm sitting here talking about aforementioned business ventures among other things. It was a nice house but I was really picky about sticking to my budget and looking for something without a bunch of problems built in. Made about 40% on that house in 5 years the whole time paying less than rent to live there. A small chunk of that profit was the down payment on my first rental house. Of course, I had the elusive actual decent job and didn't owe a bunch of money to some bank for my gender studies degree. Decent job doesn't mean rolling in riches either. While I went to college myself, I wasn't doing any better than what recent a trade school grad would start off with. But yeah I know in the modern world everyone's "passion" is creative writing and they should be able to do whatever they want without sacrificing anything.
Things like this are the final transition into a service society, the slow and gradual abolishment of private property. If you sell something the only way you can have control is if they need to repair or buy another, under a rental you have far more power over the person renting.
This is the gradual enslavement of society. Things being taken away from you, only to be given back temporarily and if you follow the rules and obey your overlords.
Communism via Capitalism. The Neoliberal goal.
Many Canadians are totally on board with this. "Everyone should be renting!" and "No one needs half an acer of grass!" are fully indoctrinated into them. They don't even seem to realize that they are advocating for either total corporate, or total government ownership of all land, all because they think a man who owns four houses and rents three of them is the devil incarnate.
The "all landlords are evil" deal is kinda funny to me. Mostly because almost all of their complaints have nothing to do with the single person/family owning extra homes and renting, but the big corporations that are just going to replace the small people. Getting rid of landlords won't suddenly make these people able to achieve home ownership, they'll just have to go to a larger, less accessible entity for the same thing.
Yeah they think they hate the landlord now, wait until it's all corporate. I have a property manager because they are out of state and I really don't want to deal with phone calls and rent collection. Still, it's my business and I do all the business side. Rent increases? I prefer to go easier on that if the tenant isn't a pain in the ass. It's easier for me that way. Property manager doesn't always agree (they get paid in percentages), but they don't have the final say. Maintenance? These are my houses and I'm kinda picky.
A megacorp it's just another balance sheet line. Rent will follow market exactly. Maintenance the bare minimum garbage. It will be like a home warranty company managing that stuff, my current personal house had some prior home warranty repairs. They were beyond shit. Not to mention things like if you own enough of the market you can manipulate prices more. It's just more fuel to bitch about evil landlords, and guess what it won't work, because the evil landlord corporation funds your politicians.
Its funny they dont go after bankers but go after landlords even though bankers are far more powerful. I wonder who has historically hated land owners cause they couldnt be one....
The same people who hate landlords are the ones that have fucked their credit so badly with unpaid maxed out credit cards and repossessed cars a bank would never give them a mortgage. The people they hate so much are the only ones willing to provide their asses with housing.
I mean to be fair the credit is the biggest hurdle and you have to waste money on stupid shit for a few years to build enough credit to be considered.
You'd think the socialists would have figured it out by now.
It's primarily wealth redistribution. Banks can extract much more money from renters than buyers.
Same reason I dont like land taxes at a residential/rural level. If someone wants to buy some land and live their own life they should be able to.
If one day so many people want to remove themselves from society that this becomes a problem, you need to look at the society, not take their land.
When a federal reserve funded financial institute starts buying up all the houses, it's a sign of looming hyperinflation.
https://archive.ph/YIPhQ https:// www. youtube. com/watch?v=1HmGLV46L60
You never really OWN a property in the US. There never comes a day when you don't have to make government payments on that property anymore. If you don't pony up every year they will seize it for payment. It's like renting but you can have a dog [licensed] and paint the bedroom purple; unless you bought in an HOA then you can't do that either.
Renting has other advantages, if the neighbors become shit and you hate the place, with 30 days notice you can pack up and go somewhere else, you're not stuck with the financial burden of a house with bad neighbors.
Believe me, even if you live out in the country there are bad neighbors. And if they too own their property they are probably never leaving, and they will piss you off for the next 30 years.
Renting may have short-term advantages but overall it's a massive burden. Which is why banks love it: they can extract MUCH more wealth from people.
Look at Germany for example: owning a house used to be something people aspired to. After decades of indoctrination it's now being seen as negative. The constant stream of "green" and "pro consumer" regulations also made sure that goal has become unattainable for most people.
Coincidentally Germans have some of the lowest personal wealth in all of Europe, especially compared to "poorer" countries like Italy. The German state might be wealthy, its people sure aren't. Renting is wealth distribution from the lower and middle classes to the upper class.
Happened by design. They still hate Germans for fighting them.
Surprisingly, here in soviet Europe the first 1500 m2 of a primary residence is tax free. The overall tax burden is over 50% for anyone making a decent wage though so it balances out.
Income tax ~20%
Social security ~15%
Employer tax ~10%
VAT ~20%
Various regulatory taxes, luxury taxes, alcohol tax, health taxes, environmental taxes, gas taxes, etc. add up to at least another 10%
Then some countries have a wealth tax too, there's inheritance tax, property tax, separate road taxes, public broadcasting taxes, private health insurance which in essence is an added tax of social security to turn your worthless universal healthcare into something that's actually usable, import taxes, special taxes to protect national production, then you have to pay for using highways. That's just from the top of my head.
Effective tax burden closer to 80%-90%
Then add another 20%-30% capital gains taxes on whatever is left over for you to invest.
In the Netherlands they add the VAT on top of some of the other taxes, so you pay taxes over your taxes. Yo dawg.
There is diminishing returns on those percentages, but every dollar is also being taxed into non-existence by the time it changes five hands.
I have a dollar, I pay 30% to the government off the top. I pay sales tax when I buy something for 70 cents. The store pays 15 cents in tax, and buys 40 cents worth of goods. The distribution company pays 8 cents in tax and buys 25 cents in goods. The warehousing company pays 6 cents in tax and buys 15 cents in goods. The international shipping company pays 3 cents in tax, and buys 5 cents in goods. The local representative buys 1 cent in goods, claims he spent 4 cents, and pays 1/10th of a percent in tax.
And that doesn't account for the labor costs, and the taxes they and the employer pay, or the fact that that original dollar cost the employer 10 cents in taxes.
EDIT: My math is shitty today, but hopefully the point stands.
THIS is partly why I understood the need for brexit. Sure the paperwork and movement of goods was easier, but all the taxes still existed and worse it was taxed in EACH country.
People here in the UK still haven't learned that buying local should save you a ton of money, but even the local companies are price matching upwards for profit, rather than considering the tax chain losses they aren't suffering.
Even with real estate, as others have said, you still have to worry about property taxes, so if you can't afford to pay $1000 for toilet paper, you can bet that many of these homeowners are going to lose their property from unpaid property taxes when the value of the home increases exponentially.
Property taxes in many places can only increase x% per year. They can't simply follow the market or whatever the corrupt property appraiser deems your home is worth.
Difference is if you get pissed off with your neighbors you can sell your house and hopefully get most if not all/more money back out of it. Rent your pissing your money away. I’d take paying taxes on a house that is an asset than throwing it away in rent any day.
There is no WAY I would have anything to do with a fucking HOA. That's worse than renting, and you might as well live in a goddamn trailer park, you'll get the exact same kind of nosies and retards. They'll just have more money/better credit scores is all.
It's been happening slowly in the UK too. Its either all held by globo Estate agencies, or you just have to know someone.
For example anywhere on the northern line of England, assuming its not got loads of land or "vistas", a mortgage for a 3bed is around 450-550/m. Rent for said place, is around 750-900. That's assuming the house doesn't get "renovated" into three bedsits and then they're charged at 350/m a room each , with the bathroom/kitchen being shared.
One of the best things to own during massive inflation is real estate. It appreciates alongside inflation reliably.
I literally had one of these faggots call me yesterday. They were sending text messages before now they're cold calling. I just x5 the market value of my house and refuse to go lower. They really hate that.
It's incredible how the silent generation and the boomers have completely changed the US into a form of corporate feudalism in less than a single generation. They just can't help themselves in destroying anything and everything that helped them get to where they are today.
I feel like we're not too far from a full blown corporatocracy
Elites like Bill gates(His mom's a J btw) have been buying up farm land as well.
Would rather not have their big business money in it, but as someone who owns rental property it's damn good business. The worst case scenario I can fund taxes, mortgage, and keep funds for things like maintenance and vacancy and still break even. So yeah, I'm getting a lowering mortgage balance and holding value with inflation for free. Being that I hate debt and even keep that low in the business, I come out way ahead.
I get the idea the prevailing sentiment among normies is rent for eternity. I guess the media pushes this too as I've seen articles scaring people away from buying. Part of their problem I suppose is they can't buy smart, they will have to have their overpriced trendy metro loft that's full of hidden problems and a ridiculous HOA cost. So yeah, keep renting from me. Just no raging leftists. Not that they would live in my preferred areas to own. I stay away from blue places.
I bought my first house at 23 and it's the #2 reason that not so many years later I'm sitting here talking about aforementioned business ventures among other things. It was a nice house but I was really picky about sticking to my budget and looking for something without a bunch of problems built in. Made about 40% on that house in 5 years the whole time paying less than rent to live there. A small chunk of that profit was the down payment on my first rental house. Of course, I had the elusive actual decent job and didn't owe a bunch of money to some bank for my gender studies degree. Decent job doesn't mean rolling in riches either. While I went to college myself, I wasn't doing any better than what recent a trade school grad would start off with. But yeah I know in the modern world everyone's "passion" is creative writing and they should be able to do whatever they want without sacrificing anything.
You'll own nothing and you'll be happy.
Rothschilds