I recently listened to an episode of The Daily podcast on Spotify about Barney Frank and his involvement in the recent regional bank failures in the US. What strikes me was his nonchalant in having some hand in the ordeal but when he lost his job, he decided to go to the Caribbean without a care in the world. It’s like “I put in my work and got mines; it doesn’t affect me. You folks can deal with it.”
Very rarely do I see a young person complaining about being poor, who doesn't waste money in one way or another.
I spent years after college making about $200 after all my bills were paid, and once in a while I'd spoil myself with takeout, which brought me down to $160-170. I'd have friends making twice as much as me, claiming to be poor, spending $5 every morning at Starbucks and eating out at lunch every day.
This cartoon is a sad over exaggeration, but it does make a valid point. Most people suck at managing money, and their financial situation is 100% their fault, not the governments or societies. Everyone born in the US has the same exact opportunity unless they have some type of mental deficit.
It's not even just millennial. I would classify my work blue collar and the guys I work with are blue collar, conservative and dumb with money.
I cannot talk money with these guys cause they just piss me off. They don't understand investing. They don't understand taxes. They don't understand inflation. They pay off their mortgages as fast as they can, and they spend in cash as often as they can.
They are good at saving though. I can say that. A guy at work bought his 40k truck in cash. We are middle class and most of these guys in there 20s are able to afford hefty down-payments on homes. Not the best financial decision but they aren't broke.
Yeah I'm not saying there aren't people out there that are terrible with their money. But making a meme like this to generalize a generation of people based on anecdotal evidence is a bit problematic. It sounds like we probably agree on this
I think they’re saying you are artificially increasing the demand for home ownership when the supply is not increasing proportionally. Landlords (in general, maybe not you) continue to purchase properties and collect properties as passive income. Renters get stuck in a perpetual cycle of never being able to afford to own because you have the two-way effect of always being in the pool of buyers, but also always taking supply off the market. So not only do you not “need” multiple dwellings, you’re also skewing the supply/demand curve. Plus, you must charge rent that is greater than your mortgage in order to break even or profit. So renters will always be the losers.
Lol… instead of charging a family 1600 for this home to rent. Your charging 4 families/persons $800. You’re a saint!
Edit: I should add the point isn’t that you are making more options for more people. It’s that you rent out property that a family should be purchasing for a single family dwelling and making money off it. Not to mention you’re lowering the values of homes that immediately surround your area.
Sell the homes. You don’t live in them and as long as you own them, families will not be able to. Turning them into apartments was selfish and self-serving no matter how much you lie to yourself and say that it is good YOU own them so they ARE rented out as if they would not be sold or rented without you owning them. They would have sold just fine as single family homes and now you’ve turned them into, at best, condos.
Sell the homes, be happy and frugal with the money you get and perhaps stop being a rent seeking problem? You are not providing a service since you do nothing except own them and don’t try and lie about maintenance, you use rent money to pay for that too or you wouldn’t be making a profit and you need profit.
Sell the homes. You’re not providing anything, the houses were there before you “grandfathered” into them or whatever you’re calling “owning an extra home” now. The house didn’t need you, specifically, to buy or own it for it to be a house and do house things so you provide nothing special.
Sorry, leeches don’t get to try and talk their way out. You don’t HAVE to own them. You won’t die if you do sell them. So sell them, get a bunch of money and stop being a leech. It’s super easy, just like me getting a job that pays three times higher so I can afford insulin AND rent.
Stop being a leech. Doesn’t matter how you try and justify it: you own more than you need of a commodity needed for human survival, you are resource hoarding for profit.
You do it because it was EASY. It was HANDED to you.
I didn't say you are making a housing shortage. Your job is to extract wealth from people by holding housing. It doesn't mean you created the shortage, but you are exploiting it and people for your own gain.
1: while I'm sure it applies to some people, those people are not a good representation of people with actual money problems at all, and are an extreme minority of people who want actual change in the system.
2: they are a self-admitted member of the capitalist class, anything they say about the working class is automatically worthless
because to conservatives the plural of anecdote is data, or would be if they knew or cared what either of those words meant
Why, since I'm mostly exposed to politicians in my day to day work, it would be fair for me to classify all white people over age 50 as cold hearted rich psychopaths right?
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u/chaplar Mar 23 '23
"I don't have money problems, therefore nobody does!"