this post was submitted on 02 Oct 2023
1165 points (90.5% liked)

Memes

45730 readers
1263 users here now

Rules:

  1. Be civil and nice.
  2. Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
1165
Don't be fooled Billy, it's not really a job, more of a parasitic relationship (lemmy.world)
submitted 1 year ago by [email protected] to c/[email protected]
295 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 1 year ago

quickly appreciating assets preferably purchased from other losers when they lose their asses and collect monthly rent too.

I wouldn't say quickly appreciating, though. It's a fairly slow growth rate for someone with that kind of money. They diversify into real estate because it creates some tax protections (your costs) and it's fairly stable. Like buying into a terrible small business, but one that magically won't fail. The things that could cause total loss to real estate are usually handled in standard insurance, unlike a business that can just tank.

The thing is, as you and the other person said, it's all about the big companies who own tons of real estate AND the big companies that manage rental properties.