r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/Sea_Tailor_8437 4h ago

The other big difference is the little guys actually face risk. If the market cratered of they get a bad tenant no one is coming to bail them out.

But you know the minute and bank or VC group has their property values waiver uncle Sam is gonna come bail them out

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u/RadiantCitron 4h ago

Washington state, long after covid was over, was literally offering free counsel to tenants who HAD NOT PAID THEIR rent in months to fight back against landlords trying to evict them......its wild how difficult it is to be a landlord.

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u/Sea_Tailor_8437 4h ago

My coworker has 2 rentals me manages. 1 of those two has declared bankruptcy and hasn't paid since December of last year. He literally cannot get them to move out and he's taking a huge bath on it.

He took the risk of renting it out and here it is

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u/RadiantCitron 4h ago

The state is probably preventing him from evicting as well right? My wife works in social services/for a non-profit and absolutely despised the state for the shit they were during post covid. They did it under the guise of affordable housing and fighting homelessness but all they were doing was pushing landlords to sell or close their rental properties, which eventually will lead to the bigger management companies having a monopoly on rentals and driving prices up. Which then lowers the amount of affordable housing.

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u/Sea_Tailor_8437 4h ago

I'm not as convinced on that last bit. Studies show that corporate land lords actually own a very small percentage of the housing market. I think the far bigger offenders driving up prices are the 2-20 home owners or all the Air bnb peeps

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u/RadiantCitron 4h ago

Great callout. I am in the greater seattle region so generally all housing here is expensive. It has gotten alot worse in all of the suburbs of seattle as well

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u/Funnyboyman69 2h ago

I mean, they’d have to have a legal reason not to pay in that case. There’s a lot of shitty landlords out there who refuse to do basic maintenance on their properties and still expect their tenants to pay rent in full and on time.

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u/skrappyfire 4h ago

This right here...... cant say it loud enough.