Fox cable hosts are doing the job of the chair of the White House Council of Economic Advisers, Jared Bernstein, by admitting that the economy under President Biden is strong. Bernstein joins MSNBC’s Ali Velshi to discuss the latest “expectation-busting” jobs report.
See, I don’t buy this. The renter may not like the other options because they’re in a less desirable neighborhood or farther out from the city center, but that is not the same as having no choice.
In my experience prices don’t vary that much across cities, you’d have to move far away to actually get a cheaper rent. Doing that means finding a new job and all sorts of other difficulties.
In any case, the tenancy simple isn’t worth the rent that’s charged. If owning the property you live in is worth some amount, then renting it should be worth less.
This is why we’re just not going to agree—you’re saying because the property owner does not live there, they should operate at a loss, which I disagree with.
It’s not a loss though. They’re buying a property, they get to keep the property at the end of it - and further the property will almost certainly increase in value.
Why should the tenant pay more than it costs to own a property, if they don’t get to own anything?
If a landlord doesn’t like the opportunity because it isn’t profitable enough, they could always sell the property - creating more opportunity for renters to buy their own homes. Right now, with no rent control, the system is pure exploitation.