I don’t agree. It’s not always optimal to own the place you live. There have been periods in my life where I was happy to pay a fair price to live in an apartment without having responsibility for repairing stuff or upgrading the kitchen. But most importantly, I didn’t want to be tied down, and having a place I could leave, no strings attached, on three months notice, was perfect.
No matter how you twist it, the capital investment needed to build/buy a home will be orders of magnitude larger than what is needed for monthly maintenance. Also, the fact that a lot of value is tied to the building is not something everyone wants.
Of course, there are landlords who are essentially scalpers. But saying that any landlord is per definition a “leech” is just going way too far.
OP here was able to provide a home for someone on short notice, and with zero investment costs on their part. For someone who doesn’t know how long they will be living in the area, and with an uncertain immediate future, having the option of “zero investment cost + zero responsibility” can be valuable. As such, OP is providing a valuable service.
I think a lot of people here have it too black/white.
Earning money by owning property doesn’t automatically make someone a leech. Sometimes, people want the option to live somewhere without needing to take on the responsibility/risk of tying down assets in a house. Often, it’s because you’re new in town and haven’t decided where to settle, or because you’re in a situation where you’re moving a lot, and don’t want to have to deal with buying/selling something worth a lot of money every time you move.
In these kinds of situations, you can see renting as a situation where you’re paying someone for taking on the risk, responsibility, and maintenance costs of owning the infrastructure. At a proper price, this can be an absolutely fair deal, that doesn’t involve anyone being exploited.
Note that I’m not defending the scalping assholes that exploit people who can’t afford to get into the housing market here. I’m simply pointing out that, even for someone who can afford to buy, there are legitimate reasons to rent, and renting out property at a fair price can absolutely be a decent practice that leaves everyone happy.