5 ms·

Soon to be ex-landlord here. Maybe I'll regret it someday, but I'm winding down all of my rental properties. Being a landlord in Seattle is just not a good idea

by qwerpy 2y ago

Soon to be ex-landlord here. Maybe I'll regret it someday, but I'm winding down all of my rental properties. Being a landlord in Seattle is just not a good idea financially anymore, with how out of whack rents are compared to house values, and how more and more restrictions are making it hard for small-time landlords. So I'm selling everything. Some will be bought by owner-occupiers, and others will be bought by huge property management firms with the analysts and lawyers to still be profitable.

andrewstuart 2y ago
>> and others will be bought by huge property management firms with the analysts and lawyers to still be profitable Corporate mega landlords should be banned too. As should foreign owners. Housing should be owned by the citizens and permanent residents of a country, not corporate mega landlords.
- qwerpy 2y ago
  Yeah I'd think mom and pop citizen landlords with one or two long-term rentals should be the least offensive of the bunch. But we're the ones least able to adjust to the regulations and changing economics. I'm thankful that I'm able to get out without taking a big financial hit, but I'm not sure if the end result is better for society.
- alchemist1e9 2y ago
  > Corporate mega landlords should be banned too. > As should foreign owners. Housing should be owned by the citizens and permanent residents of a country, not corporate mega landlords. This is completely insane. Envy is one hell of an evil disease, individually and especially socially. I have an alternative proposition. Re-zone and deregulate to allow new developments. Lower all permits and taxes. Remove all barriers to capital and investment, foreign or otherwise. Your housing costs will immediately drop. Collectivism is the economic equivalent to creationism in biology. A false evil fantasy proven endlessly as failed ideas but fueled by primitive human emotions, envy and pride respectively.
  - skylurk 2y ago
    > Envy is one hell of an evil disease, individually and especially socially. I agree that envy is toxic, and free markets are pretty good technology. But housing is a protected class of assets, just like clean water and radio bands. Taxes on non-primary residences are high, as they should be. Perhaps they should be higher.
  - toastercat 2y ago
    > I have an alternative proposition. Re-zone and deregulate to allow new developments. Lower all permits and taxes. Remove all barriers to capital and investment, foreign or otherwise. Would this make it far easier and probable that a Chinese mega-corp can buy up neighborhoods in the US? Not implying that's a bad thing. I wonder if it's already happening to an extent.
    - alchemist1e9 2y ago
      Are you joking about Chinese mega-corp? You realize China is desperately trying to avoid catastrophic economic collapse? They have so much malinvestment there have been emergency discussions between them and the US Treasury. Between ghost cities in China and unfinished empty highways to nowhere (used for embezzlement by their leader fwiw) they are on the edge of collapse. However a disorderly economic collapse in China is assessed by globalist US leadership as against US interests so it’s being careful managed between the two powers. However back to a hypothetical mega-corp. Let’s say a megacorp buys up blocks of old houses and redevelops it into new supply .. will overall housing prices go up or down? Obviously down! supply increases. However due to fundamentally broken education system that has been coopted by neo-Marxist collectivist gibberish even highly educated and technically literate individuals in western countries don’t understand that. And worse yet they have been trained to instinctively label me and anyone who tries to explain simple empirical economic facts as “racists” or “fascists”.

by qwerpy 2y ago

andrewstuart 2y ago

>> and others will be bought by huge property management firms with the analysts and lawyers to still be profitable Corporate mega landlords should be banned too. As should foreign owners. Housing should be owned by the citizens and permanent residents of a country, not corporate mega landlords.

qwerpy 2y ago
Yeah I'd think mom and pop citizen landlords with one or two long-term rentals should be the least offensive of the bunch. But we're the ones least able to adjust to the regulations and changing economics. I'm thankful that I'm able to get out without taking a big financial hit, but I'm not sure if the end result is better for society.
alchemist1e9 2y ago
> Corporate mega landlords should be banned too. > As should foreign owners. Housing should be owned by the citizens and permanent residents of a country, not corporate mega landlords. This is completely insane. Envy is one hell of an evil disease, individually and especially socially. I have an alternative proposition. Re-zone and deregulate to allow new developments. Lower all permits and taxes. Remove all barriers to capital and investment, foreign or otherwise. Your housing costs will immediately drop. Collectivism is the economic equivalent to creationism in biology. A false evil fantasy proven endlessly as failed ideas but fueled by primitive human emotions, envy and pride respectively.
- skylurk 2y ago
  > Envy is one hell of an evil disease, individually and especially socially. I agree that envy is toxic, and free markets are pretty good technology. But housing is a protected class of assets, just like clean water and radio bands. Taxes on non-primary residences are high, as they should be. Perhaps they should be higher.
- toastercat 2y ago
  > I have an alternative proposition. Re-zone and deregulate to allow new developments. Lower all permits and taxes. Remove all barriers to capital and investment, foreign or otherwise. Would this make it far easier and probable that a Chinese mega-corp can buy up neighborhoods in the US? Not implying that's a bad thing. I wonder if it's already happening to an extent.
  - alchemist1e9 2y ago
    Are you joking about Chinese mega-corp? You realize China is desperately trying to avoid catastrophic economic collapse? They have so much malinvestment there have been emergency discussions between them and the US Treasury. Between ghost cities in China and unfinished empty highways to nowhere (used for embezzlement by their leader fwiw) they are on the edge of collapse. However a disorderly economic collapse in China is assessed by globalist US leadership as against US interests so it’s being careful managed between the two powers. However back to a hypothetical mega-corp. Let’s say a megacorp buys up blocks of old houses and redevelops it into new supply .. will overall housing prices go up or down? Obviously down! supply increases. However due to fundamentally broken education system that has been coopted by neo-Marxist collectivist gibberish even highly educated and technically literate individuals in western countries don’t understand that. And worse yet they have been trained to instinctively label me and anyone who tries to explain simple empirical economic facts as “racists” or “fascists”.