Biden expected to announce $10,000 student loan forgiveness

[Sprout]

Firstly, I'm not saying I disagree with any of that. But do you concur that someone lending money, or renting a house, is entitled to some margin of profit for the effort?

Yes, but the mis-aligned incentive is that these are "risk-free." Profit should be correlated to risk taken. Predatory lending practices cross a line.

 

[Ricter]

Firstly, I'm not saying I disagree with any of that. But do you concur that someone lending money, or renting a house, is entitled to some margin of profit for the effort?

I do not, for profit. Only enough for maintenance of the asset, which technically is not profit as I recall.

 

[Ricter]

Yes, but the mis-aligned incentive is that these are "risk-free." Profit should be correlated to risk taken. Predatory lending practices cross a line.

Yes they do cross a line. Charging interest to insure against loss is one thing, but expecting more, to be fed and housed merely because you own it, all that does historically, and today, is create a bloated parasite class.

 

[Tsing Tao]

You certainly have valid concerns and criticisms. After re-reading what you wrote, I would agree that there are structurally mis-aligned incentives.

Not being able to include student loans in a bankruptcy is an additional example.

However, charging "whatever" they want is a bit hyperbole.

right, it's probably not "whatever they want" - that language was incorrect. But the government is incentivizing and exacerbating the problem by not addressing it. And I think we can gather the reason for it, they would never go after the institutions.

 

[Tsing Tao]

I do not, for profit. Only enough for maintenance of the asset, which technically is not profit as I recall.

Ok, so what would be the motivation of an individual to lend or to purchase a property to rent, if they would not make anything from it?

 

[Ricter]

Ok, so what would be the motivation of an individual to lend or to purchase a property to rent, if they would not make anything from it?

Providing for family and clan/village/community are those that go back the farthest, of course. The latter might be faith-based, or based on some other organizing principle. But there's not much reason for a disconnected individual, no. Democratically, communities can organize provision of their needs in many ways besides private property, if history is to believed.

 

[El OchoCinco]

I do not, for profit. Only enough for maintenance of the asset, which technically is not profit as I recall.

I am gonna put my kid through college with the rents I collect on my properties . People pay market prices for rent or they would not rent out my spaces so win win. When I try to ask for a rent too much above market for the next tennants, they simply reject and counter and we settle at a market price.

Not every landlord-tennant relationship is abusing the poor.

 

[Ricter]

I am gonna put my kid through college with the rents I collect on my properties . People pay market prices for rent or they would not rent out my spaces so win win. When I try to ask for a rent too much above market for the next tennants, they simply reject and counter and we settle at a market price.

Not every landlord-tennant relationship is abusing the poor.

So the free market and Laissez Fairey make everything alright for the haves and the have-nots alike. Now, the advantage you pass on to your kid is... just the free market, nothing more!

 

[El OchoCinco]

So the free market and Laissez Fairey make everything alright for the haves and the have-nots alike. Now, the advantage you pass on to your kid is... just the free market, nothing more!

you prefer the approach where those who have not should have it handed all to them . A have and a Have not put in 8 hour days in different jobs, they should be paid exactly the same?

What is the negative effect of me renting a property to a have on the have not.

Have not plays no role in the acquisition or construction of the housing so it seems fair they get no benefit. The tennant gets a place to live they really like and are willing to pay for.

Your ideas are based on a cliche because you are not stating any hard realities, just a fantasy that it is sad that there are have nots in the world so the rest of the people should have nothing too.

tell me something, if i get cancer, do you deserve to have cancer too?

 

[Tsing Tao]

Providing for family and clan/village/community are those that go back the farthest, of course. The latter might be faith-based, or based on some other organizing principle. But there's not much reason for a disconnected individual, no. Democratically, communities can organize provision of their needs in many ways besides private property, if history is to believed.

Very noble. But how many people in this world would be so properly motivated?