It’s a lose-lose situation for the renters, no matter how you look at it!
Renters are in the worst financial situation when it comes to today’s economy. The housing market with the painful history of the 2007-2008 financial crash, is at its worst and the lowest position holders here are the renters.
Without any doubt, renters are in a worse situation than mortgage holders. Mortgages still allow a semblance of ownership to the house-owner although, in actuality, it is the bank that really owns the house, but in case of renters, there isn’t even any shroud of doubt that they are working, indeed, for the banks.
An increasing group of persons who are too impoverished to work as direct bank slaves are known as rent-surfs. They are at the bottom of the food chain.
Rent-serfs are forced to pay usurious interest to a property monopolizer because they don't have enough money saved for a down payment, which causes them to become rent-trapped in a corrupt system from feudal times known as land-lording. They are in no better place than their historical counterparts, being trapped in a scam that has equally exploited the serfs in the feudal times, as they do to the rent-surf who have been subjected to recurring interest payment by the property monopolizer.
So, in actuality, they have been forced to pay off the mortgages of their landlord's in place of paying off their own mortgage to the bank.
It is not even surprising to find such landlords who would not shy away from bragging about the fact that their unfortunate renter who they have rent-rapped now pay their banker mortgages for them. They would even openly accept that; they have become a landlord just to carry out such scams of the banks.
Math forces rent serfs to labor their whole lives to pay off their landlords' mortgages, in contrast to mortgagees who must work for banks for 25 to 40 years. So, either way they go, they have no homes and they live on the land of others while also spending a sizable amount of their income to the landlords and finally the banks. It’s a never-ending cycle. And a sad fact is, the mortgage scam often leads home owners to become a landlord just to pay off their mortgages.
