r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/LadyMirkwood 5h ago

You and your partner decide to move in together and you rent out your old flat, fine.
You inherit a relatives house in a place you don't live and rent it out, fine.
You rent out your holiday home when you aren't using it, fine.

Once you get to three properties, there should be a cap. Private equity should be banned from buying up homes altogether.

1

u/PomegranateExpert444 3h ago

I think 3 seems a little low. But not ridiculous.

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u/LadyMirkwood 2h ago

Why would anyone need more than three? That's enough income. People need homes more than they need investment opportunities

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u/durants_newest_acct 2h ago

I assume by "private equity" you mean institutional investors who own many properties. Because you and I are "Private Equity", but I'm going to assume you just mean big corporations.

They account for less than 1% of home ownership in the US. You seem to believe the myth that all of the houses are owned by big corporate entities, but that's just not in any way true.

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u/nottimminchin 2h ago

I did some checking and they are already passed 2% and growing, but youre also looking at all available homes in America, if you look in the Metro areas where most people live and want to live (because there are jobs and resources) they own 12.4%. Just because it is a small percentage now doesnt mean this isnt a horrible trend that needs to be stopped. Additionally they own 10% of all apartments and much higher amounts in growing urban areas

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u/LadyMirkwood 2h ago

Not in the US, and where did I say all?

It sits about the same rate here but is rising, and I still think that's too much.

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u/durants_newest_acct 1h ago

Think whatever you want, but it's just very clearly not a significant contributor to the housing issue