Quote:
Originally Posted by chicago river
Allowing one person to own another person's home is a terrible idea and has zero positive effects on society as a whole. Landlords are leeches. Even the godfather of capitalism, Adam Smith, agrees.
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Lots of people have become "leeches" by investing in a few rental units with the idea that the cash flow from the same will fund their retirement.
We have one or two such landlords among us. I have argued with them that I'd rather put the portion of my assets I want to have in real estate in professionally managed REITs just because I don't want to have to deal with this attitude along with the other unpleasant aspects of being a landlord. REIT managements have the money and connections to fight "city hall" when necessary where individuals don't, and if it comes to it, they are more likely to get fair compensation for property taken from them by government.