Fine, I’ll bite.

I’m one of the privileged who own a home which doubled in value over the last three years. I have enough free cash flow to buy a second or third rental property. I’ve contemplated it, and even though me and my family would be better off because of it, I refuse to.

I have friends who do so, and I’m not running to chop off their heads. People are born into this system and personally benefit from it, so they don’t question it.

The housing system is a wealth cheat code that needs reform. We’re heading towards something similar to the Chinese ghost cities where wealthy individuals use land as a bank due to the volatility of other financial instruments. Look at the occupancy rate of the numerous NYC skyscrapers that all popped up at lightning speed before this whole market was projected to inflate in value. People own these and other “investments” completely empty to hold value. Most are unrented.

It boils down to the personal freedom that wealth affords. You have more freedom to accept less compensation because you own land. You support public infrastructure, which is commendable, but you have that privilege on the backs of others. You’re not alone, and the law promotes this behavior. It’s like you’ve drilled another hole in society’s boat, but you bucket back the water to compensate. The boat is still sinking on the whole as not everyone uses their time generously.

There are other ways to add value to society that provide passive income that don’t have the same negative consequences (that we’ve identified anyway). You’re acting as a rational actor playing by the rules; those rules just happen to be broken.

Thanks for contributing to the record of public code that will benefit society. I just hope we won’t need these harmful wealth loopholes in the future to afford you (or anyone else) that comfort.