SebastianVerified account

I didn't realize how much I hated landlords until I realized that most of the planet are paying other peoples mortgages

I've seen many people complain about it. But I don't really understand. What's the problem? Having moved recently to a new country, I wouldn't be able to live without landlords Banks wouldn't accept lending money to me. And I'm not sure I want to stay here forever either.

I specifically mentioned landlords with mortagages. They fundamentally increase the price of housing for others. Many areas where the cost of rent matches, or exceeds that of a mortgage. Including the Bay Area.

But they have a mortgage to pay when you don't. They are absorbing the risk for you. If you suddenly lose your job or want to relocate, you can. But if you had a mortgage, you wouldn't be able to.

That isn’t how it works in the UK, you don’t sign a simple rolling contract. You’re tied in for 6-12 months at minimum. Breaking those contracts can be difficult, expensive, and bad for your future renting prospects. Hardly risk free.

I'm currently in London with a 1y contract It's still marginally better than a 20+ years mortgage when I don't even know if I'll still be in London in 5 years.

A vast majority of people are not moving every year, let alone moving country or city.

But this vast majority of people can buy the house themselves And that's probably exagerrated to say "vast majority". I'm pretty sure many of the <30 years old don't know if they'll stay here forever