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My only argument here is that rentals should exist. There should be some places that you can rent. I'm thinking the kind of rentals that are high-rise, high density type situations.
There will always be people who need short term housing, which will be longer term than what a hotel/motel will allow for without robbing you blind. Students are a prime example, being able to have students, who don't live near the educational institution, having affordable, temporary housing near the institution, is helpful. They're not staying, so rentals should be available for them.
And yes, dorms are a thing. But often dorms do not have the capacity for the number of students that need temporary housing.
There's also people who are transitioning from one living situation to another, people who maybe lost their home in a fire. Those people need a place they can stay for the year or so that they can work out the details of rebuilding their home.
People moving into an area for contract work are another example. Your contact says one year, so rather than put down a large sum of money to buy a home in the area for the duration of the contract, just rent for a year and you can decide what to do next depending on how your employment situation evolves.
Rentals have a purpose in society.
The issue isn't having rentals, the issue is that landlords and society at large has normalized being a lifelong tenant, and rentals being "investment properties". Turning the whole thing from being a convenience for transient workers and students, into a way of life for many.
The popularization of not owning the property you live in, long term, has fueled the greed of companies to turn it into a profit making enterprise. And now shit landlord wannabe people with more money than sense keep buying up properties as investments and renting them out at significant markup. This is robbing opportunity from would-be legitimate home buyers to actually own a home. It artificially inflates the value of those homes and now we're seeing the results of that trend. Home prices are sky high, basically only obtainable by people with significant funding already (those who "won" the birth lotto), and those who are seeking to profit from the property.
The only way I was able to buy a home was by pooling money with my brother, his wife and my SO, and putting a large percentage of inheritance towards the down payment when my father died. Pretty much all of our savings and all of the inheritance money went towards buying and doing some basic repairs to the home. Not everyone is so lucky. My father had quite the nestegg at the end of his life and all of that value was dumped into this building.
Even with a good amount put as a down payment, the mortgage is still the more than the cost of four single bedroom rentals.... At least it was when we moved in. I'm sure rentals have increased in cost and the numbers have changed.
We don't rent any part of this home to anyone else. We have no interest in becoming landlords.
With all that said, rentals are still important for transient living situations, but the extent that they've started to dominate the market as basically the only option for lower income people (and even then, it's still quite expensive for them) is, in and of itself, a problem. The housing market is set to collapse yet again, as process rise to the point where nobody can afford a roof over their head without help. It's only getting worse. I'm glad I bought a house when I did, I'm sad that I didn't do it sooner, and I'm angry that it's only getting worse. I don't want anyone to be in a situation where they have to choose between eating, or having a place to live. It's getting to that point and I'm hopping mad about it. I've made my bed by paying what I did for this house, it doesn't mean that anyone else should have to pay the same amount. If someone bought an identical house for themselves tomorrow at half the cost, I wouldn't be angry. I would be happy that the market has cooled off. It won't happen, but I would appreciate hearing that.
Things have been allowed to progress towards consolidation of assets to a small group of individuals in all aspects of our lives for too long. Something must be done.
It should be social housing then like in Vienna. https://youtu.be/MxuACFQBwxs
yeah, or rent controls should be in place
yeah see we have these already, they're called apartments.
Or like many other people said, government owned buildings.
We're at a point where you don't even have to rent out to get rich. The rate at which prices grow makes real estate the best investment hands down. Even without landlords, it still makes sense for businesses to gobble them up just as a security.