well, that'd open up the question of if housing s a necessity of life, should it be for profit? if so, what are the consumer's rights and the landlord's obligations?
I could list my place today for $4.8 and get it, and it’s a terrible market. The ocean and mountain views help And I’m 20 years younger than you You ever need some tips on life, you let me know
There is no shame in collecting income from property. The issue comes from people who refuse to upkeep the property and continue to collect income as if they do, then not pay tax on that income. Please, try to keep up.
Good for you! Congratulations. Ah, but where would you live then? And how much of that "$4.8" goes to the bank and not to you? This place I got had belonged to a disabled Vietnam veteran and his wife. But instead of paying down the mortgage, they used the home equity as their personal piggy bank. So when he died her Social Security wasn't enough and she got behind and was going to lose the place. At closing she walked away with about $7k. The realtors split $6k between them and the bank got the rest. But I got a great deal on the place because she needed to sell before she lost it and a lot of maintenance had been neglected.
Is anyone here surprised Volpone is a vulture ready to take advantage of military veterans and their spouses. All the while waving the flag and telling others they must stand for the flag and support the troops? Anyone? Anyone?
Are you looking to have a threesome with him and your Nazi cum nozzle? I am pretty sure TK can set you guys up. I am pretty sure the two of them can needledick swordfight over you, just hit on volpone in private because none of us are buying you are not putting out for the Incel Nazi crowd.
I guess it depends what the market can bear... Average price for a 1 BR in a 60 year old building here is $2500/month. Average starter home is just south of 1.6M In both cases, individuals are often bidding against multinational REITs like CBRE. Is that a free market?
Without more information, just based on that, yes. Free market. Anyone with funds can buy what's available.
TL's in Vancouver, I think. If he's had that place for more than a decade he'll be walking away with at least half of that. It's been the same here. THe last place I lived in before here was purchased for about $400K in ten years it was worth 1.4M. Renting it out for a decade literally paid the entire purchase price. When that happened, we all got renovicted. They spent a ton of money modernizing it and adding a third floor... now there's new tenants paying off that loan/line of credit.
seems more like an accelerated march towards feudalism to me. a great way to launder money, I've been told. It may be a market, or subject to market mechanics... but it seems like an ever more exclusive one.
Technically free market, but with a positive feedback loop that ends up destroying many of the appeals of such a market type.
it also begs the question of "anyone with funds" when the funds never really exist except as a loan. ain't too often anyone buys a bungalow with a briefcase full of Benjamins. "Anyone allowed access to the credit", OTOH. with inflation outstripping wages will anyone ever really be able to afford a home, or just the privilege of indenturement to a mortgage carrier?
There's more to it than that. If you look at the history of business since the end of WWII, especially in the States, the emphasis has more and more become "short term profits over all other considerations." For housing what this has come to mean is either high-rise condominiums or the SFHs called McMansions. Slap 'em up as fast and cheap as possible but put in sparkly finishes and then charge a premium to the purchaser. No developer is interested in affordable housing any more . . . there isn't enough profit in it to satisfy that need for growth in profits every quarter. Some of this is attributable to simple greed, of course, but a lot of it is just the way the business culture has evolved. Improving quarterly statements is everything. That's what they're taught in business school and it's what shareholders demand. No-one is interested in long-term growth any more, they want immediate gratification. Same reason ludicrously large SUVs are the dominant vehicle sold in the US. Same reason meal portions in restaurants have gotten supersized. I want it NOW, dammit! Short term thinking. It'll be the death of our civilization.
Not even technically. Not when coupled with ALL other factors in the economy. Because we live in a capitalistic society, EVERYTHING seems to be for sale, including integrity. People are elected to office then accept payment for “favors”. And those payments don’t always have to be easily traceable - a child being “gifted” a full scholarship; a problem kept quiet from newspapers; a “friends of [candidate]” campaign for election/reelection. Those people, the people who can buy and sell integrity as if some stock option, they have made it near impossible for the 99% to get ahead. Currently, the average American has less purchasing power than their 1970 counterpart. Australia and Europe are following suit and Canada won’t be far behind - may even be ahead. There is a group of humans who have managed to purchase all 3 golden rings - where the golden ring is a type of power - economic, social, and political. there is no longer a free market. And hasn’t been for a very long time.
and oddly enough, those super sized portions are smaller than the regular ones of 20-30 years ago... when I was in construction we called mcmansions "code homes". As in, built to the minimum standard and not a single drywall screw more. I guess it just bothers me working with the people who frequently find themselves unhoused because of this hyperinflated market. But when you read back what you've written, you can understand why so many of us have slid leftish on this with ideas of geared to income and tenant rights. This most basic consideration of the social contract that holds up capitalism- is being broken. Back around '18, my derelict tenement was sold to a small REIT that felt that they could capitalize of the cultural/tourism credit of the area with a ghost hotel. Tried to renovict us all-got about half the building to take a bad deal there, spent a year doing cheap ass upgrades to the now vacant places, then doubled the rents. Of those 6 places all but one have gone through at least two tenancies-all of which ended in arrears. Of those of us who dug our heels in and refused to move, I'm the most recent having been here for eight years now. Our rent is still regulated though, and therefore affordable (about 25% of my income).
It just strikes me that every corrupt, sleazy, wheeling-dealing, Ferengi-ish dick I ever knew played around with landlording.
Funds never really exist? People often have to put up collateral to get a loan, what do you call that?
frequently that colateral is another piece of real estate that is also mortgaged to the tits... but I thought "ain't too often anyone buys a bungalow with a briefcase full of Benjamins." was sufficient clarification about "actual" money vs credit/loans. do try to comprehend at your claimed reading level next time, m'kay?
yeah, it was nice of him to respond to a sentence fragment and through that omission completely misrepresent what was said.
