You left out the people collecting that rent...who, likely, are among the elites or their cronies/relatives.
@Smokin Joe Usually,but not always. I have known several people who owned ONE piece of rental property. Most inherited it,and were in a position where they didn't have to sell it to pay their bills. They didn't get or "live rich",but there can be no doubt it made a difference even if they had to spend money on upkeep and taxes.
Seems like today everybody is after the "quick dollar" and can't wait to sell the house they inherited so they can all buy new 4x4's with big tires and chrome wheels.
Granted,in some cases the inheritance taxes can be so high they have no real option other than to sell.
Frankly,I honestly don't understand how a lot of people under 40 are making ends meet these days,unless all the automotive/motor home/matching Harley and HUGE new house "bling" I see them buying these days comes from inheritances.
I see working class people in their 30's with a couple of kids moving into this area,and buying a new house,his and her 4x4's,and who knows what else,yet I see them both driving off to work every day.
The ONLY way that really adds up in MY mind is they inheritied their parents property up north,sold it,and used the money to move south and buy a new house and a lot of bling.
And given the out of control inflation,they may be a lot smarter than I am because cash money seems to buy less with each day that passes. You can barely buy a small coffee at Hardess or Mickey D's these days for a dollar,so maybe it IS better to spend that money today on a new home and new cars that it is to save it and see it become worth less every day?
At least you end up with a new home and new cars to drive to work that are paid for.