Your landlord doesn’t keep everything you pay for rent as profit. They’ll have a mortgage, insurance, taxes, etc. They can still make a shit ton of money though if they bought before the market exploded. I know my landlord’s mortgage on the place I live is less than a third of what I pay in rent.
You say that as though our IGA deli assistant friend doesn’t need to pay taxes, insurance, housing expenses. They don’t get to keep their whole pay cheque and head out on the town, either.
Your landlord doesn’t keep everything you pay for rent as profit. They’ll have a mortgage, insurance, taxes, etc. They can still make a shit ton of money though if they bought before the market exploded. I know my landlord’s mortgage on the place I live is less than a third of what I pay in rent.
You say that as though our IGA deli assistant friend doesn’t need to pay taxes, insurance, housing expenses. They don’t get to keep their whole pay cheque and head out on the town, either.
Fair point.