Since the housing market looks like a crowd of people just signing mortgages as fast as possible just to then turn around and charge that mortgage plus a little bit.
I shouldn’t pay someone’s mortgage like seriously this is just adding an unnecessary problem to the real problem of “living somewhere”
The real problem is with corporate landlords who are attempting to buy up as much of Canada’s housing stock as possible and control the market (rent-seeking as you say) otherwise the “mom and pop” landlord really is providing a service more than making much of a profit.
Years ago I moved out of my mobile and into a real house. The mobile was paid for by then and I thought hey, I’ll rent it out instead of selling. Make some money, give someone a home.
What a nightmare. In the end I was forced to sell it just to be rid of the last in a long line of delinquent tenants, despite me doing my best to vet them.
Activist renters don’t seem to realize that there’s someone on the other end of the deal who is holding the bag. I agree, rent should be free, housing should be a right. But without a co-op or government to build the house and maintain it, the person who has to do that is your fellow working man, and do you expect them to do that for free or at a loss? The whole time while being treated with disrespect like they were some greedy billionaire?
Of course you are paying their mortgage. You’re using their credit and wearing out their consumable asset (the house) the least you can do is cover the costs! If you don’t like it, take out a loan, buy a house yourself and you’ll soon find out how much it costs to own one! Hint: more than rent unless you bought with cash (And by doing that you have lost the opportunity cost. Which is fine if you live there, but not if it’s supposed to be an investment)
Investing in rental stock only works in a rising housing market, or if you’re a slumlord. Otherwise, just buy index funds, a lot less hassle and better returns.