this post was submitted on 08 Mar 2025
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A Boring Dystopia
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If it would destroy the economy if everyone did it, then it should not be doable in the first place.
What? Your comment doesn't make sense. If everyone did any profession solely we would destroy the economy. If everyone became doctors, there would be no engineers or pilots. We would still be doomed. A diversity of vocations are necessary regardless of which vocation.
*Edit. I was thinking maybe you mean investments. But the same holds true there. AND because of hedgefunds and private equity it's becoming more and more of all the money funneling into a handful of companies. All the economists are sounding alarm bells on this. But considering the direction our leaders are taking us, I think this is all part of the plan.
Landlording is not a profession.
Handyman is a profession. Real estate management is a profession. Landlording is simply siphoning money through the act of owning something.
The economy can tolerate a finite number of leaches before dying. We currently have too many. The ideal number is zero.
what's the difference between real estate management and landlording?
Real estate Management is about rent collection, property maintenance, coordination of finding new tenants, etc. There's labor there.
Many single property landlords are also real estate management and handymen of their own properties. And that part of the situation is actual labor.
In common parlance, people will often conflate these. But I find this dilutes the harm caused by actual landlords, which are mostly large corporations that simply own property and collect income.
You can think of a landlord, whether it’s a giant corporation or a family that owns two homes and rents one out, as an investor. They choose to keep their money in a property which they rent to someone else for a profit. But they do this rather than selling the property and investing in a restaurant, a local shop, the stock market, or just blowing the it.
The difference is that housing is a finite, in fact scarce, requirement for life. You could also say that Nestle buying up all the water supplies is simply where they're choosing to invest. Sure, but it's still wrong.
It's an abuse of capitalism to create captive markets for basic necessities where people have no real choice but to purchase your goods. Adam Smith knew this.
Now you could say, "just move", but the fact is that there is not sufficient affordable housing available in this country to meet demand. And a good portion of that is held by investors.
A landlord can pay a manager to take care of the properties they own for them.
A manager, on the other hand, cannot pay for someone else to "landlord" for them.
Landlording is about ownership, management is about labor.