>>508675290Slumlording is a valuable service if they can charge slum prices.
The people who can afford that level of housing could never maintain a building. People donโt understand, a house with zero upkeep will literally just disintegrate over 10-15 years until it becomes uninhabitable. And thatโs what poorfags will do if they become owners.
At least a slumlord will be forced to keep the roof from leaking and their property insured or they lose their investment.
The big issue in places like NYC is over regulation and rent control. So many people are hording rent controlled spots that they donโt actually live in. But they are priced so far below market that itโs worth it for them to just keep it even if they only spend a few nights a year there since they moved out of the area.
Rent controls just create housing shortages because now investors are seeing lower returns and will put their money towards equities or other investments rather than build more housing. And people will horde apartments as long as they feel like they are able to pay below market.