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A comment on Ask HN: Where can I live off 1k USD per month?. Parent comment

Re:Ask HN: Where can I live off 1k USD per month? by yongjik on Thursday August 26, 2021 @03:13PM (#28319243)
I believe the system was adopted in the old days with very high interest rates (~10% was common) - landlords could easily expect to make enough return.

It's actually greatly favorable to landlords. Just think about what happens when one side is out of money. Under the monthly rent system, landlords can't get any more money until they evict the renter (which is a lot of hassle, anywhere in the world). Under the "jeonse" system, if the landlord becomes bankrupt, the renter is suddenly out of a large portion of their total wealth, and will be evicted by the new owner - without any money to find the next place.

(There are insurances to protect renters but the risk is still there.)

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Re:Ask HN: Where can I live off 1k USD per month? by KptMarchewa on Friday August 27, 2021 @04:33AM (#28325549)
The nice option world be to guarantee in law that renter gets the property as debt.
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Re:Ask HN: Where can I live off 1k USD per month? by chrischen on Thursday August 26, 2021 @04:44PM (#28320469)
Would the new landlord inherit the liabilities of the house?
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Re:Ask HN: Where can I live off 1k USD per month? by yongjik on Thursday August 26, 2021 @05:23PM (#28320997)
Not an expert, but I think there's a good chance the renter will lose money. When this happens, the landlord usually has more debt than the house is worth, so the renter has to compete with other lenders. (There's some legal protection, but I don't think it's bulletproof.)
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