Striking how many of my followers who lean right & claim to love capitalism actually hate it. They treat landlords who underrate the risk of tenants defaulting as morally wronged victims, rather than bad investors whose assets should be allocated to shrewder ones.
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Replying to @AliceFromQueens
This is not a good point. Contract is the basis of capitalism, and the state exists to enforce it. If any merchant had to price in widespread breaches of contract there would a) be far fewer of them, and b) prices would skyrocket. Either way, rent becomes unaffordable.
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Replying to @cbfels @AliceFromQueens
Additionally, if landlords had to factor in genuine distrust, all of them would have such strict ratings for tenants that a tenant who defaulted would never, ever be able to rent again (unless at an exorbitant price). There are norms that are assumed that benefit all parties.
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Replying to @cbfels
For sure--and that sort of stricture would shrink the pool of tenants disadvantageously to landlords as well. It would reduce the value of their property. But them's just the breaks.
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Yes, turning your country into Somalia is indeed a choice that can be made and it would just be "the breaks" but it doesn't make anyone better off
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