Rental property billionaire says buying a home (with a mortgage) is "fancy bullshit" and you should rent instead
[Mortgage Is 'Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,' Says Real Estate Billionaire Grant Cardone — Here's Why Renting Could Be A Better Financial Move
](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)
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Hmm…. I’ve never heard about those kinds of limits here. It’s not too uncommon for 3-5 people to split a house(which may or may not actually have 3-5 legal bedrooms) around here, though the trend seems to be splitting those houses into 2-3 legal suites, each of which might have multiple bedrooms.
I don’t think a medallion system is a solution though, as I understand that was brought in to artificially lower supply and increase revenue for the cab companies by limiting the number available. I do like the idea of more proactive enforcement of regulations to ensure that housing is kept in reasonable repair, but that can also increase prices since I’d venture most people put up with poor quality rentals due to them being the lowest cost; at least in terms of rent, though utility costs can outweigh that. If there was safe, clean, and affordable housing available then people trying to market sub-standard units wouldn’t get renters and would be forced to either upgrade the unit or sell.
The price hiking to cover the additional "costs of doing business" are specifically why I included a formula-based localized rent cap in the suggestion. The cost of doing business is for the business owners to figure out, not the customers. People have forgotten that. Hence the inflation. Hence the corporate plutocracy for an ad hoc governmental system. If you send someone to a convention, that doesn't go into your prices, that is a one-time cost that you incurred trying to expand your business. If you have to pay the city to withhold a single-family home from being accessible to ownership by a single family, that is the base market entry cost for being allowed to siphon money from someone who actually does things to get that money. That isn't something that gets passed on. I also want to add in that only individuals are allowed to own the medallions and they at least have to be residents of the county, if not the city itself. Money moves from the community to the community and builds the local economy instead of being sucked out I to some global holdings company never to be seen again. But that us my radical dream of a way to fix housing and work on the economy in a meaningful way.
It didn't take much to radicalize me though. Finding out that my landleechs directly obtained 25 rental properties in the city I'm in from landleeche who was retiring, getting a special mortgage that is not even available to us common folk that has basically 0 APR and effectively withholding 25 houses which my wife and I could have probably purchased at the time from going on sale, forcing us to rent instead of own like we wanted. Then treating us like we are the problem when I assert my rights. Yeah. Fuck landleeches, people's housing is not a meal ticket.