"We have seen corporate landlords—who own a larger share of the rental market than ever before—use inflation as an excuse to hike rents and reap excess profits beyond what should be considered fair and reasonable."
No it’s not. Just because you don’t like it doesn’t mean it’s inherently predatory.
I have to move to a city for 6 months, should I have to buy a house and sell it during that time? I need to rent, it gives me the flexibility without having to shell out capital or get in debt to live.
As with everything, it can be bad, especially when the government restricts building of houses so much, but my buddy buying a house, fixing it up and renting it out isn’t malicious.
What’s your alternative to renting? Government owns all houses and gives them out for people to live in for free?
My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”
I honestly don’t have a good answer, I could be looking at something perfectly explainable. But to me it seemed like they raised rent not because costs went up, but because they could. Why not. Everybody else is doing it.
Mortgages are locked in. Taxes, insurance, utilities, maintenance/upkeep are not. All of those things have increased since I bought my house a year ago. Rental properties experience the same thing.
We got federal money for Covid and the commerical sector is doing well. Pretty sure the furnace is fine, but it isn’t like I have lived here for multiple years.
My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”
Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?
A few hundred a month less. I’m not suddenly drowning in money, obviously, but it’s interesting paying less for much more, and that money actually benefitting my net worth vs being flushed down the toilet
You weren’t actually asking questions to gain knowledge, you just want to hide the facts so it looks like you’re right. Home ownership is expensive, and for most people, isn’t ideal, renting is a huge need on our society so I don’t have to give up 50k cash right now, so I don’t have to pay 15k/yr in property taxes, a 20k water heater bill randomly and I can move next money if I want to. You being willingly ignorant to those don’t change the facts.
Dude calm down. Is it really so crazy that my apartment was more expensive? Do you really need to know the exact dollar figure of price difference? No, that’s my private financial info and my prerogative to give you, but fuck it, here’s some ballpark figures;
My rent was $1299, pet fees added $75, water, trash, electric, and internet came out to about $300. So per month for basic nessesties, my apartment was about $1675 a month. 900 square feet. Oh, and they were going to raise rent $120 if I renewed
My mortgage?
With escrow (insurance and property taxes) is $990 a month. My water bill is $42 and includes trash, electric about $150 (and it’s the peak of summer so, obviously that’s going to drop), internet $55. Places totals at roughly what, $1250? That’s a 1600 square foot house with a 2 car garage and a yard.
Rentals have their place, no shit, I’m not saying that. I’m saying I’m pretty certain rental prices get jacked up to meet “market values” regardless of what any landlord is paying to own the rental.
Of course buying a house is harder, not everybody can drop the money down or afford to furnish or purchase appliances. But the month to month costs are, in my opinion, really weird with how much cheaper it is to own than rent. An apartment the same size as my house would run like $3500 a month here and be expected to share with roommates. That’s almost triple the cost of mortgage and utilities. Yes, you rent property to make money, yes there’s the added convenience of not being responsible for the yard and maintenance, yes, there’s value in being able to move easily, but $3500 a month is too fucking much for an apartment, how could anybody possibly save up for a house when rent is costing so goddamn much. I only saved up because I deployed and moved my wife into my parents house!
And just to top it all off, I’m overpaying for this house. My friend bought a bigger house in a more expensive area, closer to the city center, but it was a few years ago. He’s paying like $750 a month for the mortgage!!
Dude calm down. Is it really so crazy that my apartment was more expensive?
See, you haven’t read anything I’ve written, nor have you actually taken time to understand the costs.
Your apartment, monthly, may be more than your mortgage. What about the cost of home ownership like I asked? You’ve said so many words, even offering to tell me your monthly internet, to avoid telling me how much money you’ve spent on your house since ownership.
Have you heard of the term the ‘projects’ - it’s provided housing, but many of the subsidized housing areas are more like a 3rd world country than our prosperous 1st world country. Is this the policy you’d like more of?
Just curious, why? What difference would it make for you? Many of these mortgages are government funded anyway. I don’t rent anymore but my government is far more inept and corrupt than any landlord I’ve ever dealt with. Just my experience though.
Well, paying an at-cost price would mean it is inherently cheaper as the government wouldn’t be trying to turn a profit, merely charge an amount that compensates for upkeep.
Many of these mortgages are government funded anyway.
But is still building equity for a private individual.
my government is far more inept and corrupt than any landlord I’ve ever dealt with
I have a say in my government though, at least theoretically. I think housing (at least primary housing) shouldn’t be a for-profit industry, so I advocate against it via my government.
I would rather pay the cost of service to the government than my landlord’s mortgage
So you want housing as government controlled? How much? 100%? 80%? 50%? How much private residential property should be stolen by the government to achieve what you want.
How much private residential property should be stolen by the government to achieve what you want.
wow is that the best strawman you could come up with? Public housing shouldn’t exist because *checks notes* it is literally impossible to achieve without stealing existing homes? That’s how you’re gonna present your initial argument? Be better sporto
No it’s not. Just because you don’t like it doesn’t mean it’s inherently predatory.
I have to move to a city for 6 months, should I have to buy a house and sell it during that time? I need to rent, it gives me the flexibility without having to shell out capital or get in debt to live.
As with everything, it can be bad, especially when the government restricts building of houses so much, but my buddy buying a house, fixing it up and renting it out isn’t malicious.
What’s your alternative to renting? Government owns all houses and gives them out for people to live in for free?
My biggest head scratcher now that I’ve bought a house is “huh, my mortgage is locked in now, no matter what the market does… Why did rent keep going up if my landlord’s mortgages were locked in?”
I honestly don’t have a good answer, I could be looking at something perfectly explainable. But to me it seemed like they raised rent not because costs went up, but because they could. Why not. Everybody else is doing it.
Mortgages are locked in. Taxes, insurance, utilities, maintenance/upkeep are not. All of those things have increased since I bought my house a year ago. Rental properties experience the same thing.
My landlord’s taxes went down, I pay for utilities, not sure about insurance, as for upkeep I will let you know when I see that happening.
Property taxes went down? I doubt that. As far as upkeep, if the furnace goes out, who pays for that? The property owner. That’s what I meant.
We got federal money for Covid and the commerical sector is doing well. Pretty sure the furnace is fine, but it isn’t like I have lived here for multiple years.
Property taxes, market rate, costs to repair and maintain, interest rates increasing. How much money, beyond your mortgage, have you spend on your house since you moved in?
Less than my apartment ever was 😜
And what’s especially nice is everything I buy and repair goes to me, belongs to me.
Sure I had to buy a washer and dryer, lawn mower, more furniture, etc, but that’s all mine forever.
The only cost that’s higher at my house than my much smaller apartment is utilities.
How much?
A few hundred a month less. I’m not suddenly drowning in money, obviously, but it’s interesting paying less for much more, and that money actually benefitting my net worth vs being flushed down the toilet
See, you can’t even answer a simple question.
You weren’t actually asking questions to gain knowledge, you just want to hide the facts so it looks like you’re right. Home ownership is expensive, and for most people, isn’t ideal, renting is a huge need on our society so I don’t have to give up 50k cash right now, so I don’t have to pay 15k/yr in property taxes, a 20k water heater bill randomly and I can move next money if I want to. You being willingly ignorant to those don’t change the facts.
???
Dude calm down. Is it really so crazy that my apartment was more expensive? Do you really need to know the exact dollar figure of price difference? No, that’s my private financial info and my prerogative to give you, but fuck it, here’s some ballpark figures;
My rent was $1299, pet fees added $75, water, trash, electric, and internet came out to about $300. So per month for basic nessesties, my apartment was about $1675 a month. 900 square feet. Oh, and they were going to raise rent $120 if I renewed
My mortgage? With escrow (insurance and property taxes) is $990 a month. My water bill is $42 and includes trash, electric about $150 (and it’s the peak of summer so, obviously that’s going to drop), internet $55. Places totals at roughly what, $1250? That’s a 1600 square foot house with a 2 car garage and a yard.
Rentals have their place, no shit, I’m not saying that. I’m saying I’m pretty certain rental prices get jacked up to meet “market values” regardless of what any landlord is paying to own the rental.
Of course buying a house is harder, not everybody can drop the money down or afford to furnish or purchase appliances. But the month to month costs are, in my opinion, really weird with how much cheaper it is to own than rent. An apartment the same size as my house would run like $3500 a month here and be expected to share with roommates. That’s almost triple the cost of mortgage and utilities. Yes, you rent property to make money, yes there’s the added convenience of not being responsible for the yard and maintenance, yes, there’s value in being able to move easily, but $3500 a month is too fucking much for an apartment, how could anybody possibly save up for a house when rent is costing so goddamn much. I only saved up because I deployed and moved my wife into my parents house!
And just to top it all off, I’m overpaying for this house. My friend bought a bigger house in a more expensive area, closer to the city center, but it was a few years ago. He’s paying like $750 a month for the mortgage!!
See, you haven’t read anything I’ve written, nor have you actually taken time to understand the costs.
Your apartment, monthly, may be more than your mortgage. What about the cost of home ownership like I asked? You’ve said so many words, even offering to tell me your monthly internet, to avoid telling me how much money you’ve spent on your house since ownership.
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We have social housing for low income people, is that not enough? Do we just need more? How much more?
https://en.wikipedia.org/wiki/Subsidized_housing_in_the_United_States
Have you heard of the term the ‘projects’ - it’s provided housing, but many of the subsidized housing areas are more like a 3rd world country than our prosperous 1st world country. Is this the policy you’d like more of?
I would rather pay the cost of service to the government than my landlord’s mortgage
Just curious, why? What difference would it make for you? Many of these mortgages are government funded anyway. I don’t rent anymore but my government is far more inept and corrupt than any landlord I’ve ever dealt with. Just my experience though.
Well, paying an at-cost price would mean it is inherently cheaper as the government wouldn’t be trying to turn a profit, merely charge an amount that compensates for upkeep.
But is still building equity for a private individual.
I have a say in my government though, at least theoretically. I think housing (at least primary housing) shouldn’t be a for-profit industry, so I advocate against it via my government.
lol.
With risk attached, yes.
Agreed. Nor should food, water, electricity, health services, etc. but here we are.
So you want housing as government controlled? How much? 100%? 80%? 50%? How much private residential property should be stolen by the government to achieve what you want.
wow is that the best strawman you could come up with? Public housing shouldn’t exist because *checks notes* it is literally impossible to achieve without stealing existing homes? That’s how you’re gonna present your initial argument? Be better sporto
Removed by mod