Deeply suspicious that the current residential property investing fad among high-salary young people is going to produce a bunch of little slumlords. The formula being: buy a cheap property in a neighborhood they know nothing about, barely maintain it for passive income, repeat.

And this isn& #39;t exactly new - as long as property has been commodified this has been present in some form - but geographic income stratification and relatively inelastic rents make it appealing for somebody to buy a cheap property far away from their home and not think about it.

And recently, there& #39;s been an extra layer of influencer culture / instagramification of it all. Lots of pretty little graphics telling $200k/yr households how *easy* it is to landlord their way to sustained wealth in poor neighborhoods.

This has deleterious long-term effects. I think of Marktown, where absentee landlords keep selling their buildings to BP because they don& #39;t care enough to know that residents are desperately fighting to prevent the oil giant from acquiring and demolishing the whole neighborhood.

More on Marktown in this thread: https://twitter.com/SorenSpicknall/status/1342134866532573184">https://twitter.com/SorenSpic...