Re:Confessions of an Overnight Millionaire
by cryptica on Tuesday April 13, 2021 @08:34AM
(#26791335)
>> Banks don't fabricate a need for houses
In many developed countries like Australia, there are many people who own 10+ houses which they bought using debt and rent out. These people are monopolizing ownership of real estate and forcing people who don't have preferential access to credit to rent from them instead of buying.
The injustice of the scheme comes from the fact that not everyone has equal access to credit from banks. It's an unjust qualitative social process which some people are locked out of.
In many developed countries like Australia, there are many people who own 10+ houses which they bought using debt and rent out. These people are monopolizing ownership of real estate and forcing people who don't have preferential access to credit to rent from them instead of buying.
The injustice of the scheme comes from the fact that not everyone has equal access to credit from banks. It's an unjust qualitative social process which some people are locked out of.