4 ms·
Good. Let them feel some pain for helping overinflate the real estate market.
by swiley 6y ago
Good. Let them feel some pain for helping overinflate the real estate market.
- dutch3000 6y agowow. broadly ignorant statement. many landlords (like me) just kept a house they moved out of. i’m not s professional and was charging way under market because i liked the trnants. they stayed there 10 years. during that time i replaced the roof and ac unit among other things. not sure how i’m inflating thr market by charging 1200/month for a 2k sq ft house with 1/2 acre in a very hot area?
- trymas 6y agoThe parent comment clearly was not directed at property owners like you...
- dencodev 6y agoBecause you're owning a home as an investment property while not living in it? it doesn't matter if you rent it cheaply, it's one less house available to purchase and there's a finite amount of land and houses.
- dutch3000 6y agolandlords drive up housing costs? try the pyramid scheme we call our economy. your scrutiny is severely misguided. i could care less what anyone thinks of me choosing to keep and rent the house i moved out of. work 60 to 80 hours a week like everyone else or go buy a tiny house in the woods and find happiness
- dencodev 6y agoSound like you care a lot
- cpursley 6y agoLandlords only respond to the market, they don't make the market. In fact, they actually provide a service by increase the housing supply when the demand is there (assuming that new construction is allowed).
- scarface74 6y agoSo if the rental market became smaller. How would that help anyone? Would the tenants all go out and buy houses?
- runeb 6y agoI guess what they hope for is that landlords would face foreclosures or dump property, causing prices to fall, enabling more people to buy their own housing. That all depends on how many of current tenants are just outside the ability to buy and that being the main reason they rent instead of own.
- scarface74 6y agoThe last thing you want if you want to decrease unemployment is for people buying homes. Once you buy a house you limit your mobility and limit your optionality to go to where the jobs are. In fact, you should be encouraging shorter leases. I got rid of my house in 2012 after getting married so my (step)sons could stay in their much better school district. I was hesitant to buy a house in 2016 because I had no idea what direction my career might take when my youngest graduated in 2020. I might have even gone the r/cscareerquestions route and “learn leetCode and work for a FAANG” and move to the west coast. But my rent was increasing like crazy and I wanted to lock in my housing costs by buying. Thank God I found a remote opening at $BigTech. If not, I would be selling my house in the next couple of years and trying to move - under normal non pandemic circumstances.
- runeb 6y agoIf the mobility was true to such an extent you wouldn't have the overinflation the real estate market to the degree we see in certain places. That all goes out the window if the employers in the area close down, of course. But then the landlords have the same problem anyways.
- scarface74 6y agoOver inflation is mostly on the west coast because of the inflated salaries of tech companies that until now, didn’t want people to work remotely. There is no reason that a software company couldn’t have all of its employees work from anywhere in the country. As far as I know, the entire cloud consulting division of the three major cloud companies always had plenty of by default remote jobs. I know that AWS does (that’s where I work).
- dutch3000 6y agoi used to rent. then i grew up, worked a lot and bought a place.