Especially when those 2nd, 3rd, + properties are being used as passive short term rentals. Observing the state of the housing situation “Hmm there aren’t enough homes for normal families to each have a chance, I should turn this extra property of mine into a vacation rental.” does this make said person a POS?
Thanks for this. I’ve been having an internal debate myself over the ethical implications given the state of so many struggling with housing. I’m maybe 5 years out from paying off my home and have considered buying another home at that point for income as I get older. When I say income, the only reason I’m considering buying a house are exactly the reasons you listed; career instability, retirement income instability, but also medical care costs that are impossible to project in the future other than “astronomical”.
When I’m thinking of a second home income it’s so I can pay for a future hospital visit for me or my partner, not lie on a beach in the tropics. It’s maybe something for my child so they don’t have to start from zero or experience housing insecurity. It’s a relatively very privileged position compared to many in the US, but I’m not looking to gouge some poor renter, just be able to have basics in old age. Basics, however, now require relatively large amount of privilege thanks to conservatives stripping them away for 50 years.
I’m still undecided, but I appreciate the nuanced take.