5 ms·

Well, the idea that owner will be saddled with serious repair and maintenance whereas renter on virtue of being a renter will just move out to house on next str

by geodel 4y ago

Well, the idea that owner will be saddled with serious repair and maintenance whereas renter on virtue of being a renter will just move out to house on next street risk free seems unsustainable to me. Increasing rents are a kind of distributing risks of costly maintenance that renters doesn't want to care about.

yardstick 4y ago
Not all renters are renting because they want to. For some of us it’s the only option. I would have bought a home years earlier than I did if house prices were more affordable.
- geodel 4y ago
  I mean you make fair point. But that's in general story of life. I also do not want expensive day care, expensive home therapies for my sick kid that insurance does not pay for, or exhausting commute to work with no option to work remote. Still here I am doing things I do not want to.
Test0129 4y ago
I have no data for this but I'd imagine rents have increased substantially to make up for the eviction moratoriums. Several friends of mine who own an extra house (usually their parents) ran into the problem of being unable to evict a tenant, and also having the tenant refuse to pay (because the government told them it was ok). The only solution here is to raise rents to compensate and unfortunately this drives out would-be good tenants. But yeah in general rents being more expensive than mortgages is a function of risk. Renting is generally less risky for renters are more and more risky for the owners, so it's only fair that the owners be compensated for the risk. The question is where do you draw the line on fair risk compensation vs outright usury. In states like California and New York it's getting to be insane. Even in the low CoL area I am in I have no idea how people pay $1000 for a shoebox studio.
Fauntleroy 4y ago
I'd love to buy a house and take care of annoying/costly maintenance myself, but the cost of entry is 7 figures for a garbage home in my area. Sometimes I dream of fixing a fucked up pipe or replacing drywall, y'know?
staindk 4y ago
If I leave this apartment in a worse state (besides fair wear and tear) than it was when I started renting it, the cost of repair will be on me via a portion of my rental deposit that I won't get back. Sure fair wear and tear does cost something to service/repair over time, but generally things seem to last.

by geodel 4y ago

yardstick 4y ago

Not all renters are renting because they want to. For some of us it’s the only option. I would have bought a home years earlier than I did if house prices were more affordable.

geodel 4y ago
I mean you make fair point. But that's in general story of life. I also do not want expensive day care, expensive home therapies for my sick kid that insurance does not pay for, or exhausting commute to work with no option to work remote. Still here I am doing things I do not want to.

Test0129 4y ago

I have no data for this but I'd imagine rents have increased substantially to make up for the eviction moratoriums. Several friends of mine who own an extra house (usually their parents) ran into the problem of being unable to evict a tenant, and also having the tenant refuse to pay (because the government told them it was ok). The only solution here is to raise rents to compensate and unfortunately this drives out would-be good tenants. But yeah in general rents being more expensive than mortgages is a function of risk. Renting is generally less risky for renters are more and more risky for the owners, so it's only fair that the owners be compensated for the risk. The question is where do you draw the line on fair risk compensation vs outright usury. In states like California and New York it's getting to be insane. Even in the low CoL area I am in I have no idea how people pay $1000 for a shoebox studio.

Fauntleroy 4y ago

I'd love to buy a house and take care of annoying/costly maintenance myself, but the cost of entry is 7 figures for a garbage home in my area. Sometimes I dream of fixing a fucked up pipe or replacing drywall, y'know?

staindk 4y ago

If I leave this apartment in a worse state (besides fair wear and tear) than it was when I started renting it, the cost of repair will be on me via a portion of my rental deposit that I won't get back. Sure fair wear and tear does cost something to service/repair over time, but generally things seem to last.