Doin some research for a post I’m gonna put up eventually called ‘The Conspiracy of Rent.’ I’ve long thought the home ownership/rental landscape is completely fucked. Call me crazy but I just don’t think people should be making profit bc someone needs a place to live. People can make profit in other ways off of other things. House/rent should be set at covering the expenses and that’s it. You sell a house you break even, you don’t make a profit. Housing prices are so high that a lot of people face a reality where they will never own a home or will be paying for it until they are dead. So if you don’t own a home you need to rent but these days rent requires more than half of every paycheque. Half your cheque is gone before you can even buy food for yourself/family let alone pay for other expenses, and it keeps getting worse so how can people live like that?
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The pic below shows the property expenses for approx 50 units, i think this is a good example bc it covers pretty much everything. The annual expenses are approx 150k so we should be able to agree that the avg expenses for a 50 unit Apt is 150k. Lets say rent is $1200, pretty average for most places these days. So every unit would pay $14, 400 per year. 14, 400 x 50 = $720, 000. So this apartment would be bringing in a gross of 720k. Subtract expenses, 720, 000 – 150, 000 = 570, 000. That’s 570k of profit every year. Over a million if there are 100 units and so on from there. So after everything has been paid for, 570k is going into somebodies pocket just so ppl can have a home. That is fn wrong and needs to be changed. They could cut rent in half to $600 and still make a profit of 210k. I think people would be much better off and have a much better quality of life if we could cut their rent in half.

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It won’t happen overnight and I know it’s not as cut and dry as this but we desperately need a change in the culture of profiting off the home. Less money going to rent/mortgage means more money back into the economy. I really don’t think someone could argue against rent being significantly lowered when you look at the facts. When we choose leaders we need men and women that are moving towards a society like this, not away from it or keeping that status quo. Think i’ll leave it there for now. This will be part of a longer post, still puttin it all together but figured I would share now to get the gears turning.