‘Real’ landlords, own other people’s homes and rent them out. Rent controls can be a brake on their profits. No wonder the ‘landlord industry’ in California is fighting hard against reintroducing rent controls, by way of Proposition 10 on the election ballot, as California grasps at ways of making housing more affordable.
Part of the ‘real’ landlord strategy has been to suggest that all owners are at least embryonic landlords, and some day any owner might rent out their owned home, while presumably that owner goes on a perpetual world cruise, or take an extended holiday in a homeless encampment. Rent controls will one day curtail the profits of these landlord wannabes, so vote NO to proposition 10!
A recent world-wide study, however, identifies ‘real’ landlords, particularly in America. They are, to be blunt, far wealthier than the average home-owner. For that matter, ‘real’ landlords are wealthier than landlords anywhere else in the world. Seems they may be able to withstand having their income shaved a little.
Read more in the Washington Post: Owning Your Own Home Doesn’t Make You Rich. Owning Somebody Else’s Does.
