Inequity. A person buys a house, on credit, to let it out to pay the mortgage to then make a profit on the increased value of the house over the duration of the time they let the house out. Thus the rent is not rent at all. It is not about paying for the service of providing a home, The act of renting the property out is not about providing a service, it is a question of hedging an investment. The rent is underwriting the investment and profit taking of the property investor. I think that is inequitable. Especially for people whose income is lower than average even though they will work the standard 40 hour week, just as most workers do. A persons time is valuable, and to each equally so. Life is short. Ones quality of life is much more about how we love and our sense of home security as the value accrued through business transactions Turning homes into investments is also a way to give a false impression that the over-all economy is growing. Indeed most recent stats on GDP now include the shadow economy ... aka illegal (and often violent) commerce. 1. There ought to be enough housing that is adequate, secure, comfortable and at below investment profit rates, available to all folk, irrespective of income, that is not tied into variable speculative investment as a basic right and a marker of caring empathy in a decent society. The increased disposable cash that poorer folk would have if this were the case would of course be spent, both on goods and in savings, pensions etc thus contributing real value to the economy. 2. A house as an investment ought to be treated as a separate commodity to rented housing stock.
Posted on: Tue, 30 Dec 2014 00:16:48 +0000
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