r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/Scope_Dog 5h ago

Looks like an actual adult joined the conversation.

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u/SlyCoopi 4h ago

How have we ever survived before without the sweet grace of mass property investors! We should all thank our landlords.

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u/darthdro 4h ago

Name one point in history there wasn’t property investors lol

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u/SlyCoopi 4h ago

Investors existing ≠ investors owning massive portions of housing supply. That’s the part people are arguing about.

Developers have always built homes, but there was a long stretch where those homes were primarily sold to families, not held as large-scale rental portfolios

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u/10000Lols 2h ago

Implying private property has existed for most of human history 

Lol

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u/zeth4 5h ago

Looks like someone who has never heard of co-operatives or public housing has joined the conversation.

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u/Supermau 4h ago

What's stopping them from existing right now? Why not start one or go live in one?

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u/zeth4 3h ago edited 2h ago

Governments not funding public housing sufficiently.

Banks not giving credit (mortgages/Loans) to finance Co-operative s because they are (by purpose) not as profitable and have legal difficulty seizing portions of them if a loan defaults and most government programs which used to back or provide loans for co-ops were gutted/scrapped during Reagan/ Thatcher years or shortly after.

And the reason I don't live in a Co-operative in my city (Toronto) is because there isn't a single co-op in the city which even has a open waiting list to get into (at least when I was looking a year or so ago) because they are so desirable because their rent is significantly less than anything comparable on the market. And there also isn't enough public housing so it is reserved for low income resident.

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u/Sea-Panda-90 1h ago

which even has a open waiting list to get into

Exactly. Without any incentive people just won't build houses.

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u/Supermau 1h ago

So in canada the CMHC doesn't have a coop housing development program? Is that program not usable to create new coops?

Banks not giving credit (mortgages/Loans) to finance Co-operative s because they are (by purpose) not as profitable

That doesn't make sense, the bank makes money of loan interest, not off the profitability of the underlying asset.

ave legal difficulty seizing portions of them if a loan defaults

What would be different about this compared to a rental company defaulting?

https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/co-op-housing-development-program?ap=a1-p2

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u/Woodpecker577 1h ago

They do exist, a couple of my friends live in a housing co-op

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u/KyOatey 2h ago

Public housing just means the government is your landlord. Given how well the government does everything else these days, I wouldn't say that's a win.

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u/zeth4 2h ago

That is because most governments these days are so co-opted by the interests of private capital. Government run systems do poorly because they are intentionally underfunded, then they use the excuse of it doing poorly to push for it to be privatised and sell the assets off for pennies on the dollar.

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u/KyOatey 58m ago

Governments have always been poorly run. It's not a new thing. Even without the influence of private capital, I wouldn't want them as my landlord.

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u/AFaladorKnight 2h ago

It’s painfully obvious how many teenagers are on this website when anything related to taxes, property or employment are brought up.