By John Laurits
In 2015, studies estimate that US renters paid $535 billion to landlords in residential rents. To put this in perspective, $535 billion is about enough to give $15,000 to every human being in the US state of California. It would also be enough to replace every page of every book in the US Library of Congress¹ with $100 bills. And if a person stood outside of Walt Disney World every day from open to close, handing $30,000 in cash to each individual visitor, it would take a year to hand out $535 billion. But what exactly did this massive sum of money actually pay for? Why did people start paying landlords in the first place? And do lands really need lords?
Categories: Economics/Class Relations