feddit.org

19 points

13 days ago

There’s no Value created by risk, that’s an ad-hoc justification for profiting endlessly off of labor performed one time long ago.

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desktop_user@lemmy.blahaj.zone

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2 points

13 days ago

car and house Insurance both provide value by reducing the capital investment required to continue having an item, landlords reduce the upfront cost of housing by charging a continuous fee instead of a lump sum.

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19 points

13 days ago

Insurance is perhaps the peak of Financial Capital masquerading as Value.

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desktop_user@lemmy.blahaj.zone

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-2 points

13 days ago

what about banks?

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11 points

13 days ago

Same problem, arguably far worse. Consider reading Imperialism, the Highest Stage of Capitalism. Banks play a huge part in the dominance of Financial Capital.

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skeezix@lemmy.world

-7 points

13 days ago

Rent seeking does create value: it provides a place to live. That is tangible value. There is no “one time labor” in this equation. The landlord continually pays taxes, insurance, maintenance, and other regular outgoings regardless of whether he bought the house outright or not.

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2 points

13 days ago

That’s useful, but not Value. Value isn’t as simple as “use.”

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Croquette@sh.itjust.works

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4 points

13 days ago

The tenants literally pay the taxes, insurance and maintenance in their rent payment. When any of these inflates, so does the rent unless there are protections in place.

So being a landlord means someone else pays the mortgage for your unit.

The only thing that could be seen as a service are short term rental, and even then, it was abused to death by the AirBnB/VRBO and any other short term rental service.

Rent seeking is the most capitalistic thing someone can do : you use your money to get someone else to pay your rent. You do the minimal maintenance that you can get away with, and when you actually do real maintenance, your tenants get a rent hike.

If there weren’t any landlord, there would still be housing. But a lot more people would own the place they live in, at a reasonable price, instead of housing being used as an investment vehicule.

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PersnickityPenguin@lemm.ee

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3 points

13 days ago

Houses are not “one time labor.”. Housing requires constant scheduled maintenance and upkeep over time.

Not to mention the financing required to pay for it all,which is normally spread over 30 years.

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10 points

13 days ago

Building a house is one time. Maintenance creates Value, yes, but one only needs to compare the cost of maintaining a house with the cost of renting it to see that the vast majority of profits come from rent-seeking. It’s non-productive extraction.

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