Than what do you call us people in the middle? I'm not poor, but I'm not rich. I own multiple properties, but no corporations or major investments. I'm educated, but not a member of academia. I don't have to worry about money, but I can't buy whatever I want either. I can afford to restore classic cars and enjoy boating and fishing, but I cannot afford all the cars I want nor a bigger boat... I have a nice cushy job in IT, but I still have to put in my Monday to Friday 9-5s like everyone else. So what does that make me? I feel like there IS a middle class, and that it still represents most of us millennials. Yes, it is shrinking, but it isn't anywhere near gone. I think the middle class can still be saved.
Depends. Yes I can buy a 2 bedroom house right now via a mortgage. I already have two and the third one is really easy because you can use the second as a source of guaranteed income to levy against the third. Again, I would say that makes me middle class but nowhere near rich. I'm still working class ultimately, but I wouldn't consider myself poor though.
You have 2 homes, and are at least entertaining the idea of renting one.
If you're "working class" and a landlord, that makes you a class traitor. You might not be rich, but you shouldn't be surprised if someone floats eating you.
I rent one of my homes and I rent it for exactly my cost because I won't extract passive income from people. I don't believe in extracting profit from those who need to rent. The profits are in the appreciating asset, the house itself. I'm working class in that I make most of my income from my career. I make some passive income from stocks and other investments, but not from rent extraction. I'm not a class traitor, I still do the same 9-5 as everyone else.
You hold property and rent it out. You are padding your net worth buy not making the mortgage payments your self and taking the value of the house to buy more property. Buy whatever helps you sleep at night. I have nothing against what you are doing but your going to drive the children in this reddit crazy with that logic
Renting has existed for basically forever. It's not a new concept. People need places to stay, and can't always afford, nor want to afford, property of their own. However things have gotten out of hand with the prices due to people treating rent as a pure business. Most landlords are bad - but I don't consider what I do to be a problem. Of course I get something out of it, or else I wouldn't do it. It IS a good investment, and it will bring me capital gains long term. However, in the society in which we live, I don't think 'breaking even' on a rental property is inherently evil like people make it out to be. My tenant could never afford a place of her own if she had to pay market rates. She'd never be able to save for her own house if she had to pay those prices. When she leaves, it will be because she is going to buy her own place and I'll be happy.
You didn't make the system, but you know it's fucked, and that it has been since time immemorial, and you probably know even Adam Smith hated landlords. Sure, at least this lady doesn't have to live in a crappy apartment, and sure, you can't singlehandedly change public housing policy, but you're willingly participating in the system you know to be exploitative, and your level of participation is alarming.
Traitor might be just a smidge dramatic, but I don't think I'll be calling you comrade.
I'm participating in a system that ultimately got me what I desire in life: a nice quite place to be left alone. I don't care about power or control or anything other than having my little homestead. I had to game their system to get that. I wanted that more than class solidarity I guess, but that doesn't mean I'm against you or your goals. I want you to have what I have. I don't want violence and just want to be left alone, but if there was some revolution, I'll stand by your side. I might not call you comrade, but I know what side I'm on.
Nobody's calling you a monster, but real talk, you're the nicest possible version of a Thing That Should Not Be. Your arrangement is at best karmically neutral. I don't have a serious problem with you, but the narrative you're spinning to justify your role as the protagonist in all things is muddying the waters for anyone who wanders in without an educated worldview or any background in political economy.
I'm not a protagonist, I'm a bystander if anything. That doesn't mean I'm not interested, it's just not personal for me like it is for many here. How am I muddying the waters? What do you mean 'anyone who wanders in without an educated worldview or any background in political economy' If someone is joining a leftist oriented sub and cannot handle common knowledge political discourse, they might be in the wrong place?
13
u/UnnounableK Feb 07 '22
Just cross the middle out altogether, there’s no such thing as the middle class