Frugal neighbours, 7 houses no intention of selling ever

[Mrspitt3]

My neighbour and wife live in a 3 bed modest semi, is in late 50s, has been really frugal (still has 20 year old carpet tiles in kitchen etc) all their life which I do respect actually, they have always invested in property (totally understand), what I don't get is that they are now retired they have no intention on selling any of the houses and having a really nice retirement even though the rented houses cause them a lot of stress with their tenants, I said to my neighbour a few weeks ago about one particular troublesome property, why don't you just sell it? His reply was "well what would I do with the money?" ...... if they had no intention of selling them/enjoying a nice retirement then I don't understand why you would buy property. I understand they get a monthly income but they still live frugal lives. It feels immoral to me and greedy when they could help the housing market by selling the houses. AIBU?? Have I missed something??

[Lucisky]

I can't really see why it is any business of yours.

[Imnotababycow]

Aibu about what? This seems like none of your business...?

[RavingRoo]

It’s none of your business really. They got to where they are probably by not wasting money on expensive holidays and things they don’t need - they’ve earned the right to spend their money however they wish without some busybody neighbour judging them.

[TheMaddHugger]

nothing to do with you. Mind your own business

[Mrspitt3]

But they don't intend to spend it ever 😂

[greendale17]

I am with OP- i do not understand the reasoning whatsoever. Strange people

[RavingRoo]

No, they spend their money on their houses and upkeep. Why can’t you understand that?

[Mrspitt3]

I don't give a shite if someone doesn't like my attitude.... it's a simple scenario and question I just don't understand?

[FenceSitter01]

You're not unreasonable to wonder what makes other people tick! That's what this board appears to be for!

[EdmundCleverClogs]

It feels immoral to me and greedy when they could help the housing market by selling the houses.

What? How would selling their business be the 'morally right' thing to do? They could very well end up selling to other landlords, or are you expecting them to sell them cheap to young people? Bizarre op, and extremely rude to and about your neighbours.

[Mrspitt3]

Greendale thankyou 😁

[greendale17]

To the posters saying mins your own business- bore off. It gets really boring when people say this on threads like this

[Lucisky]

So? They don't intend to spend it? Are you jealous or something? Perhaps they are concerned that someone they don't really know is showing an interest in their assets. I know I would be. Back off, MYOB.

[FenceSitter01]

Mortgage free house + troublesome tenants = angst

Sell mortgage free house = quiet life

No brainer really

[Hilda40]

Why does your wife live with your neighbour?

[EdmundCleverClogs]

To the posters saying mins your own business- bore off. It gets really boring when people say this on threads like this

Ok, so would you or the OP like to explain how this is any of her business, or how her neighbours handle their monetary affairs and property affect her in any way?

[LaurieFairyCake]

Most people are doing this to leave money to family OR to enjoy their retirement and make themselves comfortable

Doing it for no reason? Well it wouldn’t be for me. At the very least I’d be thinking about the last years of my life - the average is 8 years of very poor health and pain - frankly the last years look really miserable. So that’s what I’d be wanting my money for - a decent residential home and care.

[Mrspitt3]

They don't need all the houses, they have no intention of selling them, they have no one to leave them too, they just have a lot of stress from them. I don't think they should sell them cheap just sell them, yes there's a chance landlord could buy them but there is also a chance someone private could buy them.

[LakieLady]

Perhaps they'd rather leave their property empire to their kids? Either way, none of your business, OP.

I think it's unethical for people to buy so many houses and keep them too, but at least they're renting them out and not leaving them empty.

[pinotgrigio123]

Find a hobby

[PoorYorick]

It's nothing to do with you, who cares if you don't understand?

[LakieLady]

Mortgage free house + troublesome tenants = angst

Sell mortgage free house = quiet life

Alternatively:

keep house and rent it out = decent income and have a capital asset that is likely to increase in value massively, based on past performance

sell house = see capital eroded by inflation and earn fuck all in interest

[Mrspitt3]

I'm not jealous of their stinky green kitchen carpet tiles that have weatherd 2 puppies over the years that I have seen pegged on their washing line on and off for 20 plus years no .... it's just a situation that makes me wonder... they are lovely neighbours thou.... I dunno maybe they will leave me something in their will 👍🏻

[feral]

Why does it have to be any of her business? She’s admitted she’s being nosy. I’d be wondering the same thing too OP and there’s nowt wrong with a bit of of speculating.

[Mrspitt3]

It doesn't matter what the properties are worth thou.... they have no intention of selling any of them EVER