Probably, because it would probably cause them to become entitled, or have an overly endowed sense of entitlement or control over the area (by valorisation of the owning more of it). They'd probably bring it up whenever they could, especially at council meetings as of its an act of charity when it's still rent seeking.

That sense of entitlement is generally termed "being a Karen" these days, and is a Common phenomena among financially sucessful liberals

Would being transparent with the renter about the total cost of owning the property, like the mortgage payment, property taxes, insurance, etc., then basing the rent payment off that total cost plus 10% or something be ethical?

What? Rubbing the renters face in the fact that they've got them paying off a mortgage that the renter could probably afford themselves if they only had the CAPITAL outlay for a down payment on the place they're now forced to rent?

No, the ethical move would be to place the house in the renters name proportionally as they pay it off - because they're the ones actually paying the mortgage. Making the false claim of "oh look how much of YOUR MONEY this is costing me" isn't some how more ethical.

This is the nature of capitalism, it privileges people with CAPITAL. Rubbing the renters nose in that fact doesn't suddenly make it ethical. Most renters already know they're paying off someone else's mortgage - or in some cases second or third mortgage - that's part of the whole problem. That's what "rent seeking" is, the creation of a false middle man who collects rent without doing the work of the actual person charged with paying.

You can't make it ethical simply by telling the victim that that's what you're doing. No.

A mugging doesn't become more ethical if the mugger explains what they're doing and how much of the person's cash they're gonna spend on what.

but I also recognize that many people don’t want the commitment that comes with purchasing a home.

That's not a thing. You've made something up, and it sounds like you're feeling a suitable guilt for your rent seeking behaviour.

People WANT the commitment, security, and stability of owning their own homes, they just can't find a bank to offer the Capital outlay, or can't find an available property within their means because HOUSING HAS BEEN MADE INTO AN INVESTMENT COMMODITY. That the wealthy wittingly or unwittingly use to take advantage of the poor people paying off their mortgages. So you need to get real on this issue.

How can the need for those people be met without landlords existing?

By banks determining who can have a mortgage by who has a healthy record of paying rent on time. If someone is consistently the source of the cost of the mortgage THEY should be trust worthy enough for their own similar mortgage. That's just common sense.

But instead HOUSING HAS BEEN MADE INTO AN INVESTMENT COMMODITY that the wealthy (wittingly or unwittingly) use to take advantage of the poor people paying off their mortgages... It's rent seeking behaviour.

Would it be through something like cities mandating a certain ratio of SFH’s to apartments/duplexes, then only allowing landlords to own and rent apartments? Although that seems like it would conflict with community-mindedness.

Yeah, seems like something that just privileges the moneyed Capitalist class.

More on topic, yeah. Personal feelings on the death penalty aside, this is what a country not bowing to the billionaire class looks like. As an American, it’s honestly refreshing to see someone with that much money held to actual accountability for their actions.

Yes, it doesn't happen so much in America because America is a Capitalist oriented feudalist system designed with poverty as a feature of the system. Gotta have someone for the upper class people to exploit.

I'd love to tell you different because it's clear you have a conscience even though you're living your part in the system... But I can't.

Thanks for trying to make an "Ethical Capitalism" but there can seldom be such a thing (it's a bit of a contradiction in terms). Australia is trying to get a thing called HAFF (the housing future fund) up and running, where building unions pay for starting the construction of new housing but the housing is still sold on the open market of Capitalism as a commodity to whoever has the largest Capital outlay... So yeah.

The UK has more co-op housing, where subsidized housing is owned and ran by the tenants.. but it's still not quite ethical and pretty hard to get into because it's not a large program.

Congrats on being a home owner (I assume). Maybe you got lucky and under other circumstances you'd be on the other (less pleasant) side of the equation.

[+] borari@lemmy.dbzer0.com 2 points 7 months ago (1 children)

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[–] antidote101@lemmy.world 1 points 7 months ago* (last edited 7 months ago) (1 children)

No, I'm not really fine with banks profiting of mortgages, but I am more fine with it than I am private individuals. This is for a couple of reasons:

Banks are easier to regulate.

Banks are more directly related to the life of a currency, they're responsible for the buying of government bonds which enables the money supply to be increased.

A disparity between the wealth of banks and the wealth of private individuals is already an stable established norm.

It's not common for banks to be owned by private individuals.

Banks can be owned by unions.

Land is a finite resource, and I'm not sure anyone has cracked how best to manage it. I like some of what Vietnam does, where if you live in a rural area and can prove that you know how to raise crops (via a standard test) the government will allocate you a plot of farmland to farm. This has resulted in 70% of their population being farmers, and 86% of the population owning their own homes. So ultimately I think the state and probably a state bank, or state land bank, should probably be responsible for managing mortgages.

The word mortgage actually breaks down to death's pledge by the way. It's the kind of thing designed to take someone a lifetime to pay off.

It's all pretty dark, and really I think housing should be a human right. I think if people were responsible for their own homes we'd see better upkeep, and that to some degree housing, shelter, and land should be seen as a nexus point between the citizen and the nation which is made up of the geographical area parceled out and built on to live in.

The less public housing is made, and the more like a private speculator's market it becomes, the greater wealth disparity we'll see. Housing is tied up with homelessness which is a key indicator of how in decline citizen's feel their society to be. Leaving that up to the free market is insane, and represents just how "sold out" our lives can be.

It's part of maintaining the physical, financial and mental health of the population. We shouldn't leave it up to profiteers.

I can understand having a death's pledge to the state. I can't understand paying off someone else's death pledge with your life, so that they can buy more and more houses and do more of the same. What are these, soul collector's?

Societies with a narrower wealth disparity (a smaller gap between the richest and poorest) tend to be better off, more unified, more humanitarian, more democratically capable, and less tolerant of injustices. Making sure the rental system doesn't become a speculative investment market is an important aspect of a society's success, empathy, and of the quality of life and peace of mind of citizens.

Sorry if I sounded harsh to you earlier. Hopefully one day in the future, neither of us will rent.

[–] borari@lemmy.dbzer0.com 2 points 7 months ago

Sorry if I sounded harsh to you earlier. Hopefully one day in the future, neither of us will rent.

It’s all good, and thank you for your response. You really gave me a lot to chew on, I’ve never really considered a lot of what you brought up about bank owned mortgages, specially the bit about regulation and pre established wealth disparity.