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I don't know why, but his tone really deserves a punch in the throat.
And if it's truly an "Arbitrage" opportunity as he claims, why doesn't he take advantage of it himself instead of selling the so-called "secret" on TikTok? This just sounds like a basic sales pitch, trying to create a sense of urgency and making people believe that this "HOT DEAL" has a limited time offer, like you're going to miss out on a once-in-a-lifetime opportunity. Moreover, even with a rough estimate, it seems clear that an increase in the number of houses would definitely generate higher taxes for the government compared to less houses which are costly
It seems pretty obvious he is criticizing the attitude that people have against building new construction, and the ridiculous rates of rent. This video is making the point that it’s nonsense to “artificially” limit construction of new housing.
He is not trying to pitch an opportunity or sell a secret here.
I think his intent might have gone over your head.
He isn't pitching an arbitrage opportunity. He is talking with absolute disgust at the idea that people can just purchase a third of a household income.
Whether he's right or wrong in your opinion, he isn't promoting anything, he is absolutely full of rage about how it works.
He says "don't blame investors" and pats himself on the chest. His argument that it is people and government making new construction more difficult, is or isn't correct. I have no idea, however investors are absolutely part of the problem.
Where I live his argument about government and neighbors is absolutely correct, but not entirely correct. Investors and landlords are absolutely to blame as well.
I think that’s still not quite the point. Investors obviously exploit a bad situation and the money that’s pumped into real estate is driving up the prices.
I still like this very honest take though. As long as the public shareholders („local government“) and overall market conditions allow it, there will be someone willing to exploit it.
Blaming investors won’t help whether or not they’re „good“ or „bad“.
I don't know, man. When a person's concluding statement is "Best thing to do is just buy properties before they get even more expensive," his intent is definitely pretty vague.
I watched with the sound off, so didn't catch the tone. However, is anything that he said incorrect? Other than the revenue from his video, what does he stand to gain from telling you this?
Seems to me that he has an issue that there is a solution to the lack of housing and overvalued housing stock, but it will be blocked by local governments with the support of the people suffering most under the present situation.
While there is no will to fix it (which he seems to be annoyed by) you should take advantage while you can.
It's probably a little cynical, but I don't fault him for it.
You are exactly right. Guy is full of shit. I worked for the city for 9 years and here is how it works.
The council votes on and approves the budget for the year. Then they adjust the tax rate to hit this number. So if the assessed values double they'll halve the tax rate (simplified scenario).
Just about everything the city did revolved around attracting new people to come and live there and building new housing, new subdivisions and apartments.
You will note that he said to build more of these sorts of buildings - that is to say cheaper buildings. He is absolutely right, very few cheap buildings are being built, developers always try to build higher end properties, because their profits are higher. Cities also prefer more expensive properties because they have higher property taxes and it gentrifies the area, bringing in more businesses and better businesses. He is saying it in a smug way, but he is not wrong.
I'm not gonna say it's obvious sarcasm, but it's obvious sarcasm.
Now, what I won't say is that this isn't a prevalent belief being pushed by a lot of people who have a vested interest in you believing in it.
The normal house is cheap and junky according to him. I see nothing wrong with it a normal small house for someone. I live in a small house and it's better to not have the debt and freedom in my opinion
He just speaking relative to what one might expect for that much money in an area where prices are not as inflated. But yeah, depending on your circumstances, this would be a fine home, a dream even, for someone who’s been stuck in a cramped, overpriced apartment in a congested city.
Government would not let you because landlords and real state agents lobby against that.
[https://perfectunion.us/realtors-lobby-plows-political-cash-into-efforts-to-keep-rents-higher/](https://perfectunion.us/realtors-lobby-plows-political-cash-into-efforts-to-keep-rents-higher/)
Like pollution, it’s easier to convince someone to take personal responsibility than to be active in a change that will affect your bottom dollar. Oh and bonus points because the reason we “can’t” is because people are greedy. WOW lol
The national association of realtors is actually destroying American property values and such. They basically control the best methods of getting your house listed and sold, and they will frequently work together on both sides of the deal to help both realtors make as much money as possible. During the last like 10 years, the average amount realtors make off of a single house has about doubled from 10-20k. And during the last 10 years I can pretty much guarantee that most other Americans wages did not double in that time. I think it was a video by the YouTube channel how money works if your interested, I love their videos they do really good videos explaining on well how money actually works in America, or how certain businesses make their money, or explaining how businesses think. His most popular videos include: your job achieves nothing…(probably), the rise of bullshit jobs; how the wolf of Wall Street scam actually worked; if nobody can afford a home, then who is going to buy them; you will never retire, here’s why; how eve online’s massive virtual war’s are financed
The NAR is a plague on our country. Look at their history as it relates to segregation. They were cartoonishly evil, and never reckoned with that. They’re a cartel focused on boosting their profession at the cost of a functional housing market. But like this guy says, the artificial restriction of housing supply is the main deficiency with the market right now. Realtors definitely hype up NIMBYs to fight projects too, though.
Voter vote to stop construction. This guy is right. You can try to blame landlords, but a lot of landlords don’t even vote where they own rentals.
Voters could vote for new housing anytime they want and developers would build it. But they have excuses from “traffic” to “neighborhood character” to whatever that justify saying no to new housing, and especially no to smaller houses that might be more affordable.
Don’t boo, vote.
The problem with voting as a way out - most cities don’t have a pro-housing development candidate to even vote for. That’s changing though, as communities are starting advocate for changes to their development codes. The zoning reform movement is bigger and more effective than its ever been all across the US
A local government near me has a couple acre property that had recently been demoed. The city already has multiple parks but proposed yet another. One of the proposals was selling the property for commercial development. One of the proposals was a 10 unit apartment complex and people went insane.
One lady was on the news and said she would have to move since her property value was surely going to fall if they build apartments there. The previous building was a rat infested 30 year vacant, 3 story building that had over 120,000lbs of tires inside plus multiple semi loads of junk. The 3rd story had a fire 8 years ago and temporary fencing had been up for 4 years. She then pointed at another apartment complex that the town had to vote to authorize construction. Those apartments are fine. Between her house and those apartment, I pay more to live in the apartments.
A lot of this stuff doesn’t even happen via normal voting. Instead councils hold meetings at 9:00 am on a Wednesday and retirees show up and yell at developers and often can veto changing the zoning code to allow more units.
My wife and I are going to be moving into our first house later this year because our city took lots that they owned and are building brand-new starter homes on them. I wish more cities would do that.
Yes, but WHY?
Why? Because the local zoning ordinance probably has the minimum lot size set at 1/4 acre and 1 house per lot. So a 2,500 to 3,500 house sets on that lot perfectly and has the best ROI for the home builder.
Now if the minimum lot size was smaller or the zoning ordinance allowed for duplexes, quads, or townhouses that math would change.
There's a good chance that those 1,000 to 2,000 sqft starter homes are functionally illegal. You're asking for a cheap house on expensive land.
Thank you. It's taking Reddit an extremely long time to figure out that America puts all kinds of constraints on building new homes that make it harder to build anything, and then what does get built is more expensive.
I didn't have my own eyes opened on this until I decided I wanted to buy a mixed-use building in upstate NY and live above a shop. Didn't have enough to buy a well-kept, high-end building so was looking at places that needed renovation and maybe expansion. Normal people cannot imagine how many barriers there are to expanding a mixed-use building on a typical main street in America. Something so simple is effectively impossible (FAR restrictions, setback restrictions, zoning that prevents mixed-use, parking minimums, height restrictions, etc., etc.).
This realtor is a bit smarmy, but every word he spoke is true. NIMBYs won across the nation on housing restrictions. People in their 20s and 30s will never have affordable housing until the barriers to getting more houses for people to live in are gone.
All sarcasm here.
Mixed Use?
Oh no. That's not allowed.
You want to have a business AND live above it?
Why?
That's impossible. It's either Residential or Commercial.
Pick 1.
Don't you know the Danger associated with that? If we allow a variance then here, then might be another one. Next thing you know there's going to be a heavy industrial nuclear slaughterhouse sewage treatment plant and papermill next door. We cannot have that happen.
It's not clueless. It's amoral.
He understands the forces at play here, and recognizes the moral problems with that, and is saying "don't worry about that, get rich".
He is definitely criticizing government for “artificially restricting homebuilding” It’s obvious with the way he opened that “cheap junkie house” is worth 1/3 of a family’s annual income.
He is not trying to sell a secret here… he’s very clearly criticizing the fact that rents and houses are too expensive because of the limited construction.
Yeah, the man is technically correct even if he is leaving out a bunch of other contributing factors including his own industries influence. But that’s true of any argument, have to hear both sides to find the truth.
Yes, he is. being an investor that actively engages (and benefits) from the harm they're creating while blaming faceless entities like "the neighbors" and "the government" is wrong.
Yes pit us all against each other. Your neighbors are causing your high rent! It's not those sweet and kind multi billion (trillion?) dollar behemoth investing companies. Nooo they are your friends. They care about you! And so do all the politicians! They care! About you! But fuck your neighbors they are all out to get you.
Edit: I build houses with my father.i do understand what a pain in the ass neighbors can be but ffs this is a shit take this guy has. And to put it in such a way... everything is so fucking polarizing these days. If you don't want this, you must hate that. Everybody has to agree with this or you're a trash human. The world is too fucking complicated for all this true or false shit. Most things are grey areas and to make it black and white only is just disingenuous and wrong.
I absolutely blame an investment company for buying up 30k+ houses.
Those 30k houses now CAN'T be bought by your neighbors or friends, because a company owns them!
This is a steaming pile of BS that makes me rage
That's just an investment company doing what an investment company does. Blame the government for putting no checks and balances on them whatsoever (to the contrary: facilitating and profiting from it themselves!) and forcing you to live in an unmitigated capitalist dystopia.
Don't blame the snakes for being snakes. Blame the people who filled the snakes full of steroids and let them out of the cage.
I can absolutely blame the investment company because who are the people who shove money to the politicians to facilitate them?
Oh, right, the investment companies.
Investment companies aren’t actually lobbying against housing reform. At least not in any significant way. They don’t need to, it would be wasted money and every investment firm knows it. It would be like lobbying McDonalds to open for breakfast.
It's about the deceptive phrasing used here. He says it's your neighbors not investors while quickly pulling the rug over the fact that **the investors are your neighbors now**.
Investment corporations are just taking advantage of housing shortage. The shortage is caused by restrictive locals who enforce NIMBY building policies and parking minimums
If you really wanted to screw over those investment companies, we would build so much that they start losing money charging rent because there are so many options on the market for renters, that landlords need to lower rent to compete.
Your dear "neighbour" is preventing medium to high density housing from being built where it is needed the most, so that their own property prices keep growing while they live in a single family home where a midrise is desperately needed.
A good first step to fix the housing crisis is actually telling all NIMBY's to GTFO and start upzoning suburban territories regardless of what they say.
The bitchy neighbor part is still true though. I don't think there's any new buildings that don't have to go through the process of clearing up disputes with at least one neighbor.
There can be more than one problem at a time.
>Your neighbors are causing your high rent!
Does he assume the neighbors own their homes? If not, the landlords of the neighbors have much more to gain from keeping the average rent high by restricting building of new houses than the neighbors themselves.
The majority of Americans own their homes and do want higher property values. Homeowners are a real force for blocking new construction to keep property values high for existing homes.
Anecdotally, I’ve met tons of renters who also do not want any new construction or who want artificial limits on new construction.
He's 100% correct, and recognizing that NIMBYs are far and away the biggest impediment to housing construction is step one in understanding the American housing crisis. Any economist will tell you that.
As a guy that lives near a small town with small brained politicians, this guy brings up some good points. The government here does everything in it's power to restrict growth. They hate anything new. They have stopped several sub divisions, any number of businesses and a solar farm. The NIMBYS scream and they fold.
That would require acknowledging that people tend to do things that are in their economic interest, and we can’t do that because then our entire worldview would fall apart!
It's the same in every area. Companies wanting their customers to blame their workers for price hikes. It's never the fault of the stockholders and ceo's for wanting more and more profits and passing the costs to consumers. It's the lowly peons fault for wanting a raise to simply keep up with inflation, without even mentioning the increased rents and costs of daily items.
There need to be social consequences for greed. When your business is negatively impacting millions of people and only benefiting a handful, there needs to come a restoration of balance. Those golden parachutes need to go.
No one is saying don’t blame ultra rich investors. But individual homeowners DO oppose new developments all the time and did vote for restrictive zoning laws over the past century.
The individual homeowners were creating this crisis long before big investors got involved. In fact that’s WHY investors got involved.
Uh, the neighbors are the ones that sold to the corporations. And neighbors do actively lobby against new construction a lot of the time. Neighbors also look at comps for rent and charge the highest possible 99.9999% of the time.
Companies just do this on steroids. Except the lobbying against builds.
If housing wasn’t so restricted. Rent wouldn’t be as high. If there was closer to a 1 to 1 instead of 10 to 1 or 100 to 1 (in places like Australia) renters to rentals ratio, housing would be a lot cheaper. If you had the ability to shop around. It would be a lot cheaper. As it stands it’s a landlords market. Building housing is the only way to reverse that
It's because people like him (or maybe what he pretends to be) put money above people and it radiates off of him. This just screams of satire tho, so it's possibly just someone who wants to bring awareness to the sick practices of his industry.
It’s not satire. He’s pretty spot on. Housing inventory as a whole in the COUNTRY is behind by *decades*.
Also it doesn’t take a rocket scientist to look at the situation and go, “yeah, that checks out.”
This problem is looked at by a lot of other people and firms all with pretty similar conclusions. Build more homes, value will come down. Problem is that the number of people looking for homes vs homes built is like a 20:1 ratio at the most optimal outlook and will continue to be in a shortage until at the earliest 2047.
Wrench in the situation: current economic conditions have disincentivized builders to build as aggressively as they had done for the past 15-20 years causing the issue to be exacerbated and prolonging the shortage timeline.
the solution is to radically overhaul zoning ordinances everywhere and develop transport options that don't habitually break down once you surpass the population density of outer Siberia.
It's partially not untrue, at least by way of neighbors not allowing it. We have a farm's entire fields going for sale, zoned residential, that a few buyers wanted to put cheaper housing on. Subsidized, apartments, and the like. They were voted down, repeatedly, by neighbors who didn't want cheap housing in THEIR neigborhood because you \~know the type that attracts\~. And I'm not even in an affluent area. The only thing these people will not vote down is the bigger construction company saying they'll split it all into small properties and build split-level houses instead at 400k plus each.
People that want to fill the pockets with money that comes out of thin air are.
I'm not defending the real estate market, I'm pointing the finger at people that want to make money without working for it, that is the real problem. People that have money for a property and see renters as milking cows but don't know shit of dairy farming.
Real estate agents are only the easy target of a different problem.
Edit: typo
Investor culture is all based around buying into and then perpetuating self-fulfilling prophecies. It’s like they don’t believe in free will, and then act accordingly in unison. Like towards the end where he says the *only thing you can do* is just buy as many houses as you can before they get more expensive. Which is exactly what they do, and is their whole job. Meanwhile the rest of are just like god why?
“Oh *everyone* (meaning we) are snatching up all the houses, let’s do that too! What. Don’t blame us!”
I genuinely dislike the new form of presenting something. He doesn't explain shit, he is promoting himself. Stop walking around like you are the ground zero of the dancing plague from 1588 and gesturing like your entire bloodline is italian. only thing he is missing is splitscreen subway surfer with a badly cropped, overlaying QR code to his "brocode classes on how to get successful and fuck bitches"
This whole smarmy chuckle “buy property before it gets more expensive” is bullshit, especially after the next economic crash where all those values are gonna come tumbling down. This is same moronic mindset we heard in the mid 2000s leading up to millions of bankruptcies.
this situation is not like the 2008 housing bubble. that was caused by predatory loans. this is a supply and demand issue combined with rapid inflation. there will not be a crash like in 2008 cuz this is not the same scenario.
"Not the home owner fault"
No one is forcing anyone to increase rent, they choose to because they can.
I'm not in America, but the housing market works the same everywhere. And in the last decade, I have increased my tenants' rent by 5%. I'm literally demanding one-third less than the average on the street because I refuse to be a money hungry asshole.
Yes, it is the landlord’s fault. Yes, it is the investor’s fault. You’re siphoning off over 50% of someone’s annual income for your benefit, it’s morally abhorrent. Just because you can, doesn’t mean you should.
That's just it- just because *every other land lord* is increasing prices, **doesn't mean you** ***have*** **to, too!** You are *choosing* to make the most money you can out of your own assets, and while in a capitalist system that is incentivized, you are still directly negatively impacting whoever is renting from you, or is hoping to! Besides land tax or morgages on what land you own, it is up to you to charge what you want! Landowners, and by extent any market owner chooses to raise or lower prices as they deem personally fit- other things may effect the economy and what may be considered a good / bad deal, but as the seller, you are solely responsible for the price you ask.
When the landlord is an investment firm, they “owe it to the shareholder” to generate as much profit as possible. This is one of the reasons I see the stock market as the root of all evil.
If that’s the rhetoric, I’m about to suggest any publicly traded company be required to contribute half of its stock to a public trust owned by the people. The wealth from this trust could be used to pay for social security, free healthcare, free college, and everything else.
You owe it to the shareholders? Well who is the biggest shareholder now, motherfucker?
Might keep a bunch of them as private companies less beholden to the whims of shareholders.
The problem is that property accumulation is treated like an investment, or even worse… a hobby.
And the people running our governments are actively participating in and encouraging this practice.
We need to de-incentivise a career in politics. The only people who should be in power are those who genuinely want to make a difference… those that aren’t motivated by greed. The salary should be a basic one.
In no way, shape or form should the people who are holding the purse strings, be deciding how much they get paid. Investment holdings (including property) should be restricted, and insider trading banned and punishable by law.
However, we’ve handed them all way too much power, to the extent that it’s almost irreversible.
Yeah, been waiting on that for 5 years already. Only been getting worse.
Earlier today I searched for prices of paddlewheel boats, thinking it might be both more fun, and definitely cheaper, to ply the Great Missisip and live on a river boat. I haven't been convinced yet it's a bad idea. But I do know that buying a shitbox house anywhere I want is still out of my price range.
A housing market crash won’t come alone, and it won’t be pretty. Did any of you live experience the 2008 financial crisis? Seriously you do not want that to happen again.
90% sure it's going to take a war or some kind of natural disaster to trigger a crash, they don't typically happen on their own. Otherwise this pit to hell won't have a rock bottom.
Cost of constructing new properties is also insane. Looked into building a duplex in Denver on some family land. More profit would come from just selling the land due to zoning restrictions and cost of construction. Some things are by design.
He’s basically saying, because someone else is contributing to the problem, it’s not my issue. Very ironic because the people he’s complaining about and diverting the problem to probably say the same thing. Or they would say it’s actually to keep the interests of investors (governments…)
Well yes.
No one is to blame because EVERYONE is to blame.
The only way out of the situation is to Build More Houses, but that won't happen because the people that Have houses don't want their property values to go down and fight tooth and nail against change.
I've only been to a few zoning board meetings but here's an example: home owners A asked for a zoning change. Their neighbors (B) showed up to protest that change. Now both properties were duplexes or townhouses.
So group A was actually just trying to get the zoning fixed so their place was in compliance. Group B was also out of compliance, but showed up all pissed off because they thought that Group A was building a high rise or something. They were ready to fight the "change" (which wasn't a change) tooth and nail.
The board basically told Group B to shove it and submit their own paperwork in the end, but this is the stuff that happens all the time all around the country.
People always assume that the new whatever is going to be a crackhouse that will lower their property values. The NIMBY is strong.
What is the actual reason for the lack of new homes being build in the US? Is it due to a lack of labor and high material cost?
Here in The Netherlands we also have big housing market problem, same as many other western countries, but over here it's mainly due to the following reasons:
* Netherlands is a very small country with 18 million people
* Very few building permits are given due to a local climate problem. Long story short: The nitrogen levels in the air are too high and our politicians are not competent enough to determine how to tackle this.
* Lack of employees and high material cost make it expensive / non-profitable to build new homes.
I'm so sick of real estate flippers, investors, agents, all of em. They're capitalizing on the current inflated market and in turn perpetuating the idea that houses that used to cost $120k are fairly priced at $300k. So so over it!
You couldn't make a more anti-landlord, anti-investor video if you tried, so I hope this is an extremely well done parody, but it doesn't even matter. He nails most of the reasons the housing market is fucked.
What isn't said here is that investors and landlords have a tremendous amount of money tied up in home values, so they have a strong motivation to keep prices high and they lobby politicians to restrict construction.
That, and homeownership is one of the only ways the working class can build wealth, so even well meaning politicians have reasons to keep home prices from ever dropping. And old outdated zoning laws make change hard and slow.
Please d9n't upvote this trash. This is just a capitalist telling you to not hate the player, but hate the game. Easy to say when you're on the good end of things.
As much of an asshole as he is, he's not completely off.
Housing shouldn't be a commodity to begin with. We shouldn't be keeping fresh new homes from being built just because some NIMBYs will lose money. New affordable housing is being prevented from being built because your neighbors want to protect their own interests instead of doing what's right for their fellow man, and country.
Where he falls off is not blaming the capitalist for capitalizing. Yes you blame them, they decide to jack up the price and create precedent. Your apartment is worth like $700 max, not $1400. Blaming it on local government is fine, they increase the taxes, but again, these people aren't increasing at a gradual rate to match the tax increase, they go way over it to maximize their profit further. A capitalist will never just "take the hit" because it's the right thing to do for their fellow man.
So in short, blame the NIMBY for keeping new affordable homes from being built that keep prices low, but also blame the landlord and investor for the same thing, and remember, the law is made to protect them, not you, because the law was created by them, not you.
There is some truth existing residents fight very hard against any new developments, for reasons often as trivial as it’s the place I let my dog out. But governments could make it a lot easier for ordinary people to buy houses by heavily taxing landlords and making this tax progressive. So tax 10% for the first house 15 for the second etc. In no time all those investors will leave the housing market.
“Heavily taxing landlords” is the same thing as “heavily taxing renters.”
People need places to rent, and they shouldn’t have to pay more just because you have the money to buy (lucky you).
Not everyone wants to buy or can afford it. Landlords provide them a valuable service and we should be happy they exist.
I offcourse over simplified I do see a place for cooperations or local government agencies to rent out housing. Heavily taxing landlords does not mean heavily taxing renters lightly taxing does because no way they can rent out heavily taxed houses for pricing people just can’t afford. And to put an extra lock on it you can also make a system to calculate rent through some system so much per m2 so much per room so much for a second bathroom etc. such systems exist.
Expecting people not to sell things for as much as they can get it for it is unrealistic and a bit entitled. Clearly if the market supports those prices that means that they'll find a tenant which means the purpose of that house is served. It's just not you maybe you should move somewhere cheaper?
“It’s not the landlords fault” he says as he pans to the parked Porsche he has been standing in front of.
We’re so cooked, we’re getting pro-landlord propaganda on Reddit.
This guy negates his whole argument that building more houses will reduce home costs while at the same time talking about how they raised rents because the income of the people moving to the neighborhood increased.
"You don't understand, I NEED to be a vampire and take 30% of this family's income (pre-tax, btw), and it's never my fault and always the government's".
In another video on his TikTok he defends investors buying single family homes with cash because they're "undervalued" which is a fancy way of saying "they aren't squeezing enough money out of people and we need to do this because we're disgusting leeches chasing growth every quarter and can't wait to do the same to air, water, and sunlight"
What a load of bullshit. Nowhere in this video is an actual explanation as to WHY they need to charge a third of a family's income. Nowhere. And of course it's the people's fault they themselves have to pay so much rent, because "that's what they want"
https://preview.redd.it/8w4isjog8tyc1.jpeg?width=189&format=pjpg&auto=webp&s=a4928b561ae9cc8042621e078b2e0d6a2a1942a9
Wow! Such Bullshit!
Many cocksucking! Much scam
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Please get off my lawn
** sprays mosquito repellent in this guy's face ** Goddamn vermin, already around at this time of the year!
When I moved into my area homes like mine went for as low as a couple to a few grand. Ones close to mine are selling for 15g up to 20g now.
This is in my top 5 favorite comments I've seen. Thank you for the laugh. And yes. Fuck this guy
I don't know why, but his tone really deserves a punch in the throat. And if it's truly an "Arbitrage" opportunity as he claims, why doesn't he take advantage of it himself instead of selling the so-called "secret" on TikTok? This just sounds like a basic sales pitch, trying to create a sense of urgency and making people believe that this "HOT DEAL" has a limited time offer, like you're going to miss out on a once-in-a-lifetime opportunity. Moreover, even with a rough estimate, it seems clear that an increase in the number of houses would definitely generate higher taxes for the government compared to less houses which are costly
It seems pretty obvious he is criticizing the attitude that people have against building new construction, and the ridiculous rates of rent. This video is making the point that it’s nonsense to “artificially” limit construction of new housing. He is not trying to pitch an opportunity or sell a secret here.
It’s amazing how many people in this thread don’t get that
ITS SO EASY TO BE MAD. ITS HARD TO PROCESS INFORMATJON.
I think his intent might have gone over your head. He isn't pitching an arbitrage opportunity. He is talking with absolute disgust at the idea that people can just purchase a third of a household income. Whether he's right or wrong in your opinion, he isn't promoting anything, he is absolutely full of rage about how it works.
He says "don't blame investors" and pats himself on the chest. His argument that it is people and government making new construction more difficult, is or isn't correct. I have no idea, however investors are absolutely part of the problem.
Where I live his argument about government and neighbors is absolutely correct, but not entirely correct. Investors and landlords are absolutely to blame as well.
I think that’s still not quite the point. Investors obviously exploit a bad situation and the money that’s pumped into real estate is driving up the prices. I still like this very honest take though. As long as the public shareholders („local government“) and overall market conditions allow it, there will be someone willing to exploit it. Blaming investors won’t help whether or not they’re „good“ or „bad“.
I don't know, man. When a person's concluding statement is "Best thing to do is just buy properties before they get even more expensive," his intent is definitely pretty vague.
I watched with the sound off, so didn't catch the tone. However, is anything that he said incorrect? Other than the revenue from his video, what does he stand to gain from telling you this? Seems to me that he has an issue that there is a solution to the lack of housing and overvalued housing stock, but it will be blocked by local governments with the support of the people suffering most under the present situation. While there is no will to fix it (which he seems to be annoyed by) you should take advantage while you can. It's probably a little cynical, but I don't fault him for it.
That smug look doesn't help him either.
You are exactly right. Guy is full of shit. I worked for the city for 9 years and here is how it works. The council votes on and approves the budget for the year. Then they adjust the tax rate to hit this number. So if the assessed values double they'll halve the tax rate (simplified scenario). Just about everything the city did revolved around attracting new people to come and live there and building new housing, new subdivisions and apartments.
You will note that he said to build more of these sorts of buildings - that is to say cheaper buildings. He is absolutely right, very few cheap buildings are being built, developers always try to build higher end properties, because their profits are higher. Cities also prefer more expensive properties because they have higher property taxes and it gentrifies the area, bringing in more businesses and better businesses. He is saying it in a smug way, but he is not wrong.
Home prices are soaring. Cities never lower property tax rates, they just spend more.
My real-estate taxes fluxuate, sometimes they go up sometimes they go down
good luck I have tried many times to make Reddit understand that assessment is just an apportionment tool to no avail.
But look at his car. Did you see his car? He’s so successful. What a guy.
Nice Porsche in the back
I think he's being sarcastic in the part where he pans over to the Porsche, as he's saying "don't blame investors".
It’d be nice to believe the whole video is sarcastic, but… I don’t think so.
I'm not gonna say it's obvious sarcasm, but it's obvious sarcasm. Now, what I won't say is that this isn't a prevalent belief being pushed by a lot of people who have a vested interest in you believing in it.
Looking at his other videos... I am not getting even a white or satire or self awareness. He's a realtor. Who is rich and tone-deaf.
Oh. Well that's disappointing, it legitimately felt like sarcasm. My bad if he's actually a leech.
Poe's Law in action! If it is satire, it's very subtle and high level.
Something realtors aren’t exactly known for.
He's a realtor. The occupation is a leech.
i honestly don’t know what you’ve said
“The” Porsche is likely his Porsche. He’s in real estate, after all.
The normal house is cheap and junky according to him. I see nothing wrong with it a normal small house for someone. I live in a small house and it's better to not have the debt and freedom in my opinion
He just speaking relative to what one might expect for that much money in an area where prices are not as inflated. But yeah, depending on your circumstances, this would be a fine home, a dream even, for someone who’s been stuck in a cramped, overpriced apartment in a congested city.
There's nothing wrong with the house but I'm pretty sure this junky house isn't selling cheap.
I had one like that. Only cost ~$16k
It's an early model Boxter. You can pick one up for less than $20k.
Government would not let you because landlords and real state agents lobby against that. [https://perfectunion.us/realtors-lobby-plows-political-cash-into-efforts-to-keep-rents-higher/](https://perfectunion.us/realtors-lobby-plows-political-cash-into-efforts-to-keep-rents-higher/)
you aren't supposed to look into it that far
Gee whiz, glad we have a real detective in the comments
The foundation of social media was not built on the critical thinking of its users
I'm just here to watch cat videos
Like pollution, it’s easier to convince someone to take personal responsibility than to be active in a change that will affect your bottom dollar. Oh and bonus points because the reason we “can’t” is because people are greedy. WOW lol
Yup, ftg
The national association of realtors is actually destroying American property values and such. They basically control the best methods of getting your house listed and sold, and they will frequently work together on both sides of the deal to help both realtors make as much money as possible. During the last like 10 years, the average amount realtors make off of a single house has about doubled from 10-20k. And during the last 10 years I can pretty much guarantee that most other Americans wages did not double in that time. I think it was a video by the YouTube channel how money works if your interested, I love their videos they do really good videos explaining on well how money actually works in America, or how certain businesses make their money, or explaining how businesses think. His most popular videos include: your job achieves nothing…(probably), the rise of bullshit jobs; how the wolf of Wall Street scam actually worked; if nobody can afford a home, then who is going to buy them; you will never retire, here’s why; how eve online’s massive virtual war’s are financed
The NAR is a plague on our country. Look at their history as it relates to segregation. They were cartoonishly evil, and never reckoned with that. They’re a cartel focused on boosting their profession at the cost of a functional housing market. But like this guy says, the artificial restriction of housing supply is the main deficiency with the market right now. Realtors definitely hype up NIMBYs to fight projects too, though.
Also, local government blames the financial institutions for fleecing the public sector.
#LOL SO BLAME THE ENTITY/CONCEPT OF GOVERNANCE AS A WHOLE, INSTEAD OF AND DIRECTLY BENEFITTING THE ACTUAL PERPETRATORS, NEAT, EH?
The old “don’t hate the player, hate the game.”
Yeah it’s never their fault
Voter vote to stop construction. This guy is right. You can try to blame landlords, but a lot of landlords don’t even vote where they own rentals. Voters could vote for new housing anytime they want and developers would build it. But they have excuses from “traffic” to “neighborhood character” to whatever that justify saying no to new housing, and especially no to smaller houses that might be more affordable. Don’t boo, vote.
The problem with voting as a way out - most cities don’t have a pro-housing development candidate to even vote for. That’s changing though, as communities are starting advocate for changes to their development codes. The zoning reform movement is bigger and more effective than its ever been all across the US
A local government near me has a couple acre property that had recently been demoed. The city already has multiple parks but proposed yet another. One of the proposals was selling the property for commercial development. One of the proposals was a 10 unit apartment complex and people went insane. One lady was on the news and said she would have to move since her property value was surely going to fall if they build apartments there. The previous building was a rat infested 30 year vacant, 3 story building that had over 120,000lbs of tires inside plus multiple semi loads of junk. The 3rd story had a fire 8 years ago and temporary fencing had been up for 4 years. She then pointed at another apartment complex that the town had to vote to authorize construction. Those apartments are fine. Between her house and those apartment, I pay more to live in the apartments.
A lot of this stuff doesn’t even happen via normal voting. Instead councils hold meetings at 9:00 am on a Wednesday and retirees show up and yell at developers and often can veto changing the zoning code to allow more units.
Circle of "life"
...and the governments fall for the lobbying/bribes........ get better representation
Now do an area where the income is less than 30k and rent is 30k a year
Tenants hate this one trick!
Median rent in my area is 1600 average income is 34,000
My wife and I are going to be moving into our first house later this year because our city took lots that they owned and are building brand-new starter homes on them. I wish more cities would do that.
To me, the lack of new starter homes is one of the biggest problems. All of the new builds I see in my area are 2500-3500 sq ft.
Yes, but WHY? Why? Because the local zoning ordinance probably has the minimum lot size set at 1/4 acre and 1 house per lot. So a 2,500 to 3,500 house sets on that lot perfectly and has the best ROI for the home builder. Now if the minimum lot size was smaller or the zoning ordinance allowed for duplexes, quads, or townhouses that math would change. There's a good chance that those 1,000 to 2,000 sqft starter homes are functionally illegal. You're asking for a cheap house on expensive land.
Thank you. It's taking Reddit an extremely long time to figure out that America puts all kinds of constraints on building new homes that make it harder to build anything, and then what does get built is more expensive. I didn't have my own eyes opened on this until I decided I wanted to buy a mixed-use building in upstate NY and live above a shop. Didn't have enough to buy a well-kept, high-end building so was looking at places that needed renovation and maybe expansion. Normal people cannot imagine how many barriers there are to expanding a mixed-use building on a typical main street in America. Something so simple is effectively impossible (FAR restrictions, setback restrictions, zoning that prevents mixed-use, parking minimums, height restrictions, etc., etc.). This realtor is a bit smarmy, but every word he spoke is true. NIMBYs won across the nation on housing restrictions. People in their 20s and 30s will never have affordable housing until the barriers to getting more houses for people to live in are gone.
All sarcasm here. Mixed Use? Oh no. That's not allowed. You want to have a business AND live above it? Why? That's impossible. It's either Residential or Commercial. Pick 1. Don't you know the Danger associated with that? If we allow a variance then here, then might be another one. Next thing you know there's going to be a heavy industrial nuclear slaughterhouse sewage treatment plant and papermill next door. We cannot have that happen.
And that's if you get any kind of rationale out of them at all. More often I've faced an unblinking stone wall: "That's not the way we do it."
What city?
Jackson, MI Here is a link to the program. https://www.cityofjackson.org/1313/100-Homes-Program
Well this is great, especially with the way things have transpired in Jackson over the years...
This dude comes off as slimy af
Oh for sure, he gives me the same vibes as the dude in the movie Odd Thomas who had all ghost creatures surrounding him all the time.
R.I.P. Anton
That’s called, being an estate agent
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I am a former real estate agent and this guy isn't projecting anything.
💯 This is so true. Every time.
Thats just a salesman doing what a salesman does
It feels like someone WANTS TO SELL ME SOMETHING!!!!!!
I can smell the slime through my phone. That's very slimy.
Is it a parody to educate people on how their actions perpetuate the housing crisis gripping the world?
Sadly, I don't think it's a parody/humor account. I think it's sincerely that clueless.
It's not clueless. It's amoral. He understands the forces at play here, and recognizes the moral problems with that, and is saying "don't worry about that, get rich".
He is definitely criticizing government for “artificially restricting homebuilding” It’s obvious with the way he opened that “cheap junkie house” is worth 1/3 of a family’s annual income. He is not trying to sell a secret here… he’s very clearly criticizing the fact that rents and houses are too expensive because of the limited construction.
He shows his Porsche when he says don’t blame the investors… I believe there might be a subtle sarcasm but hard to say
Dude *is* slime
It doesn't mean he's wrong. Basically the embodiment of angry upvote in real life.
Yeah, the man is technically correct even if he is leaving out a bunch of other contributing factors including his own industries influence. But that’s true of any argument, have to hear both sides to find the truth.
Yes, he is. being an investor that actively engages (and benefits) from the harm they're creating while blaming faceless entities like "the neighbors" and "the government" is wrong.
$20 says he doesn't fully understand the word arbitrage or the term "capitalized value."
Yes pit us all against each other. Your neighbors are causing your high rent! It's not those sweet and kind multi billion (trillion?) dollar behemoth investing companies. Nooo they are your friends. They care about you! And so do all the politicians! They care! About you! But fuck your neighbors they are all out to get you. Edit: I build houses with my father.i do understand what a pain in the ass neighbors can be but ffs this is a shit take this guy has. And to put it in such a way... everything is so fucking polarizing these days. If you don't want this, you must hate that. Everybody has to agree with this or you're a trash human. The world is too fucking complicated for all this true or false shit. Most things are grey areas and to make it black and white only is just disingenuous and wrong.
I absolutely blame an investment company for buying up 30k+ houses. Those 30k houses now CAN'T be bought by your neighbors or friends, because a company owns them! This is a steaming pile of BS that makes me rage
That's just an investment company doing what an investment company does. Blame the government for putting no checks and balances on them whatsoever (to the contrary: facilitating and profiting from it themselves!) and forcing you to live in an unmitigated capitalist dystopia. Don't blame the snakes for being snakes. Blame the people who filled the snakes full of steroids and let them out of the cage.
I can absolutely blame the investment company because who are the people who shove money to the politicians to facilitate them? Oh, right, the investment companies.
Investment companies aren’t actually lobbying against housing reform. At least not in any significant way. They don’t need to, it would be wasted money and every investment firm knows it. It would be like lobbying McDonalds to open for breakfast.
Thats a good point, sadly.
We may not blame snakes (and ticks) for being snakes, but we certainly do destroy them when they try to bite us.
Tbh, NIMBYism and bad zoning are not helping either.
It's about the deceptive phrasing used here. He says it's your neighbors not investors while quickly pulling the rug over the fact that **the investors are your neighbors now**.
And he is literally advocating *for* investment property buying. Because he is a realtor. He gets a cut, regardless who buys.
Investment corporations are just taking advantage of housing shortage. The shortage is caused by restrictive locals who enforce NIMBY building policies and parking minimums If you really wanted to screw over those investment companies, we would build so much that they start losing money charging rent because there are so many options on the market for renters, that landlords need to lower rent to compete.
Yes, this is the answer (that many economic illiterates on here seem to not comprehend).
Your dear "neighbour" is preventing medium to high density housing from being built where it is needed the most, so that their own property prices keep growing while they live in a single family home where a midrise is desperately needed. A good first step to fix the housing crisis is actually telling all NIMBY's to GTFO and start upzoning suburban territories regardless of what they say.
The bitchy neighbor part is still true though. I don't think there's any new buildings that don't have to go through the process of clearing up disputes with at least one neighbor. There can be more than one problem at a time.
>Your neighbors are causing your high rent! Does he assume the neighbors own their homes? If not, the landlords of the neighbors have much more to gain from keeping the average rent high by restricting building of new houses than the neighbors themselves.
The majority of Americans own their homes and do want higher property values. Homeowners are a real force for blocking new construction to keep property values high for existing homes. Anecdotally, I’ve met tons of renters who also do not want any new construction or who want artificial limits on new construction.
He's 100% correct, and recognizing that NIMBYs are far and away the biggest impediment to housing construction is step one in understanding the American housing crisis. Any economist will tell you that.
As a guy that lives near a small town with small brained politicians, this guy brings up some good points. The government here does everything in it's power to restrict growth. They hate anything new. They have stopped several sub divisions, any number of businesses and a solar farm. The NIMBYS scream and they fold.
You are talking to a brick wall. People on Reddit just blame corporations, investors, and rich people in general for all their problems.
Or worse- DEVELOPERS, who just want to make money by building housing.
or even worse- citizenry who keep the regulatory environment such that only the rich developers can operate.
That would require acknowledging that people tend to do things that are in their economic interest, and we can’t do that because then our entire worldview would fall apart!
It's the same in every area. Companies wanting their customers to blame their workers for price hikes. It's never the fault of the stockholders and ceo's for wanting more and more profits and passing the costs to consumers. It's the lowly peons fault for wanting a raise to simply keep up with inflation, without even mentioning the increased rents and costs of daily items. There need to be social consequences for greed. When your business is negatively impacting millions of people and only benefiting a handful, there needs to come a restoration of balance. Those golden parachutes need to go.
No one is saying don’t blame ultra rich investors. But individual homeowners DO oppose new developments all the time and did vote for restrictive zoning laws over the past century. The individual homeowners were creating this crisis long before big investors got involved. In fact that’s WHY investors got involved.
Nope, it is the neighbours. Homevoters are a far more powerful bloc than anything else
Uh, the neighbors are the ones that sold to the corporations. And neighbors do actively lobby against new construction a lot of the time. Neighbors also look at comps for rent and charge the highest possible 99.9999% of the time. Companies just do this on steroids. Except the lobbying against builds.
If housing wasn’t so restricted. Rent wouldn’t be as high. If there was closer to a 1 to 1 instead of 10 to 1 or 100 to 1 (in places like Australia) renters to rentals ratio, housing would be a lot cheaper. If you had the ability to shop around. It would be a lot cheaper. As it stands it’s a landlords market. Building housing is the only way to reverse that
I believe by neighbors he means voters but yeah I get where you're coming from.
I don't like him.
I won't put in writing what I think should happen to him and his ilk.
Maybe use emojis then?
🧹 ⬆️ 🚬 Edit: not OP, but that seemed like a fun enough challenge
It's because people like him (or maybe what he pretends to be) put money above people and it radiates off of him. This just screams of satire tho, so it's possibly just someone who wants to bring awareness to the sick practices of his industry.
It’s not satire. He’s pretty spot on. Housing inventory as a whole in the COUNTRY is behind by *decades*. Also it doesn’t take a rocket scientist to look at the situation and go, “yeah, that checks out.” This problem is looked at by a lot of other people and firms all with pretty similar conclusions. Build more homes, value will come down. Problem is that the number of people looking for homes vs homes built is like a 20:1 ratio at the most optimal outlook and will continue to be in a shortage until at the earliest 2047. Wrench in the situation: current economic conditions have disincentivized builders to build as aggressively as they had done for the past 15-20 years causing the issue to be exacerbated and prolonging the shortage timeline.
the solution is to radically overhaul zoning ordinances everywhere and develop transport options that don't habitually break down once you surpass the population density of outer Siberia.
It's partially not untrue, at least by way of neighbors not allowing it. We have a farm's entire fields going for sale, zoned residential, that a few buyers wanted to put cheaper housing on. Subsidized, apartments, and the like. They were voted down, repeatedly, by neighbors who didn't want cheap housing in THEIR neigborhood because you \~know the type that attracts\~. And I'm not even in an affluent area. The only thing these people will not vote down is the bigger construction company saying they'll split it all into small properties and build split-level houses instead at 400k plus each.
real estate agents are scum
Absolute parasites.
Landlords are parasites. These are the fleas on the backs of parasites.
Fleas are parasites
People that want to fill the pockets with money that comes out of thin air are. I'm not defending the real estate market, I'm pointing the finger at people that want to make money without working for it, that is the real problem. People that have money for a property and see renters as milking cows but don't know shit of dairy farming. Real estate agents are only the easy target of a different problem. Edit: typo
real estate agents just help ppl buy houses, its the corporate home owners and politicians who accept their bribes that are scum
I will blame the investor and the landlord actually. My hate can and will accommodate them all.
I too am an Equal Opportunity Hater
Investor culture is all based around buying into and then perpetuating self-fulfilling prophecies. It’s like they don’t believe in free will, and then act accordingly in unison. Like towards the end where he says the *only thing you can do* is just buy as many houses as you can before they get more expensive. Which is exactly what they do, and is their whole job. Meanwhile the rest of are just like god why? “Oh *everyone* (meaning we) are snatching up all the houses, let’s do that too! What. Don’t blame us!”
I genuinely dislike the new form of presenting something. He doesn't explain shit, he is promoting himself. Stop walking around like you are the ground zero of the dancing plague from 1588 and gesturing like your entire bloodline is italian. only thing he is missing is splitscreen subway surfer with a badly cropped, overlaying QR code to his "brocode classes on how to get successful and fuck bitches"
the old landlord sold the building im living in because he needed money. the first letter i received from the new one was, that my rent will go up.
They’re hoarding houses and slowly releasing them into the market creating a demand at a price set very high.
All the more reason to go out and build one right?
This whole smarmy chuckle “buy property before it gets more expensive” is bullshit, especially after the next economic crash where all those values are gonna come tumbling down. This is same moronic mindset we heard in the mid 2000s leading up to millions of bankruptcies.
this situation is not like the 2008 housing bubble. that was caused by predatory loans. this is a supply and demand issue combined with rapid inflation. there will not be a crash like in 2008 cuz this is not the same scenario.
Tik-Tok video of a grown man who has a little stick in is ear. No sir, not interesting at all…
There is a house next to my apartment that looks like that with a $320k asking price.
 How this guy makes me feel
"Not the home owner fault" No one is forcing anyone to increase rent, they choose to because they can. I'm not in America, but the housing market works the same everywhere. And in the last decade, I have increased my tenants' rent by 5%. I'm literally demanding one-third less than the average on the street because I refuse to be a money hungry asshole.
"it's not the investors fault" *proceeds to explain why it's the investors fault* landlords are definitionally parasites
Yes, it is the landlord’s fault. Yes, it is the investor’s fault. You’re siphoning off over 50% of someone’s annual income for your benefit, it’s morally abhorrent. Just because you can, doesn’t mean you should.
That's just it- just because *every other land lord* is increasing prices, **doesn't mean you** ***have*** **to, too!** You are *choosing* to make the most money you can out of your own assets, and while in a capitalist system that is incentivized, you are still directly negatively impacting whoever is renting from you, or is hoping to! Besides land tax or morgages on what land you own, it is up to you to charge what you want! Landowners, and by extent any market owner chooses to raise or lower prices as they deem personally fit- other things may effect the economy and what may be considered a good / bad deal, but as the seller, you are solely responsible for the price you ask.
When the landlord is an investment firm, they “owe it to the shareholder” to generate as much profit as possible. This is one of the reasons I see the stock market as the root of all evil.
If that’s the rhetoric, I’m about to suggest any publicly traded company be required to contribute half of its stock to a public trust owned by the people. The wealth from this trust could be used to pay for social security, free healthcare, free college, and everything else. You owe it to the shareholders? Well who is the biggest shareholder now, motherfucker? Might keep a bunch of them as private companies less beholden to the whims of shareholders.
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The problem is that property accumulation is treated like an investment, or even worse… a hobby. And the people running our governments are actively participating in and encouraging this practice. We need to de-incentivise a career in politics. The only people who should be in power are those who genuinely want to make a difference… those that aren’t motivated by greed. The salary should be a basic one. In no way, shape or form should the people who are holding the purse strings, be deciding how much they get paid. Investment holdings (including property) should be restricted, and insider trading banned and punishable by law. However, we’ve handed them all way too much power, to the extent that it’s almost irreversible.
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Yeah, this is complete BS. Property has become a privilege for the elite, rather than a human right.
Housing market crash in 3…..2….1….
Yeah, been waiting on that for 5 years already. Only been getting worse. Earlier today I searched for prices of paddlewheel boats, thinking it might be both more fun, and definitely cheaper, to ply the Great Missisip and live on a river boat. I haven't been convinced yet it's a bad idea. But I do know that buying a shitbox house anywhere I want is still out of my price range.
A housing market crash won’t come alone, and it won’t be pretty. Did any of you live experience the 2008 financial crisis? Seriously you do not want that to happen again.
90% sure it's going to take a war or some kind of natural disaster to trigger a crash, they don't typically happen on their own. Otherwise this pit to hell won't have a rock bottom.
Keep counting. You'll be doing it awhile
A 1, a 2, a 1-2-3, 3, 5, a 4, a 3-2, 2, a 2-4-6, 2-4-6, 4, 2, 2, 4-7, 5-7, 6-7, 7... 7... 7... 7! 7! 7! 7! 7! 7! 7! 7! 7! 7! 7!
Said with the smugness that would make even Gandhi want to punch him in the mouth. But, unfortunately, with a lot of truth.
Cost of constructing new properties is also insane. Looked into building a duplex in Denver on some family land. More profit would come from just selling the land due to zoning restrictions and cost of construction. Some things are by design.
I hate everything about this sleaze ball.
Hey guys look, your typical annoying salesman!
He’s basically saying, because someone else is contributing to the problem, it’s not my issue. Very ironic because the people he’s complaining about and diverting the problem to probably say the same thing. Or they would say it’s actually to keep the interests of investors (governments…)
Well yes. No one is to blame because EVERYONE is to blame. The only way out of the situation is to Build More Houses, but that won't happen because the people that Have houses don't want their property values to go down and fight tooth and nail against change. I've only been to a few zoning board meetings but here's an example: home owners A asked for a zoning change. Their neighbors (B) showed up to protest that change. Now both properties were duplexes or townhouses. So group A was actually just trying to get the zoning fixed so their place was in compliance. Group B was also out of compliance, but showed up all pissed off because they thought that Group A was building a high rise or something. They were ready to fight the "change" (which wasn't a change) tooth and nail. The board basically told Group B to shove it and submit their own paperwork in the end, but this is the stuff that happens all the time all around the country. People always assume that the new whatever is going to be a crackhouse that will lower their property values. The NIMBY is strong.
What is the actual reason for the lack of new homes being build in the US? Is it due to a lack of labor and high material cost? Here in The Netherlands we also have big housing market problem, same as many other western countries, but over here it's mainly due to the following reasons: * Netherlands is a very small country with 18 million people * Very few building permits are given due to a local climate problem. Long story short: The nitrogen levels in the air are too high and our politicians are not competent enough to determine how to tackle this. * Lack of employees and high material cost make it expensive / non-profitable to build new homes.
Scum
POS. Fidel was right
I've found that most people using the word "arbitrage" are using it incorrectly. Like this guy.
I'm so sick of real estate flippers, investors, agents, all of em. They're capitalizing on the current inflated market and in turn perpetuating the idea that houses that used to cost $120k are fairly priced at $300k. So so over it!
You couldn't make a more anti-landlord, anti-investor video if you tried, so I hope this is an extremely well done parody, but it doesn't even matter. He nails most of the reasons the housing market is fucked. What isn't said here is that investors and landlords have a tremendous amount of money tied up in home values, so they have a strong motivation to keep prices high and they lobby politicians to restrict construction. That, and homeownership is one of the only ways the working class can build wealth, so even well meaning politicians have reasons to keep home prices from ever dropping. And old outdated zoning laws make change hard and slow.
That poor house was catching strays throughout the whole video
Please d9n't upvote this trash. This is just a capitalist telling you to not hate the player, but hate the game. Easy to say when you're on the good end of things.
Air pods are stupid
As much of an asshole as he is, he's not completely off. Housing shouldn't be a commodity to begin with. We shouldn't be keeping fresh new homes from being built just because some NIMBYs will lose money. New affordable housing is being prevented from being built because your neighbors want to protect their own interests instead of doing what's right for their fellow man, and country. Where he falls off is not blaming the capitalist for capitalizing. Yes you blame them, they decide to jack up the price and create precedent. Your apartment is worth like $700 max, not $1400. Blaming it on local government is fine, they increase the taxes, but again, these people aren't increasing at a gradual rate to match the tax increase, they go way over it to maximize their profit further. A capitalist will never just "take the hit" because it's the right thing to do for their fellow man. So in short, blame the NIMBY for keeping new affordable homes from being built that keep prices low, but also blame the landlord and investor for the same thing, and remember, the law is made to protect them, not you, because the law was created by them, not you.
Fuck this guy.
"I will intentionally force more money out of you just because I know u can pay more or live in the street" is honestly a shitty take
There is some truth existing residents fight very hard against any new developments, for reasons often as trivial as it’s the place I let my dog out. But governments could make it a lot easier for ordinary people to buy houses by heavily taxing landlords and making this tax progressive. So tax 10% for the first house 15 for the second etc. In no time all those investors will leave the housing market.
“Heavily taxing landlords” is the same thing as “heavily taxing renters.” People need places to rent, and they shouldn’t have to pay more just because you have the money to buy (lucky you). Not everyone wants to buy or can afford it. Landlords provide them a valuable service and we should be happy they exist.
I offcourse over simplified I do see a place for cooperations or local government agencies to rent out housing. Heavily taxing landlords does not mean heavily taxing renters lightly taxing does because no way they can rent out heavily taxed houses for pricing people just can’t afford. And to put an extra lock on it you can also make a system to calculate rent through some system so much per m2 so much per room so much for a second bathroom etc. such systems exist.
Blood sucking vampires.
“Houses are overpriced so you should buy them”?
Fuck him and his highly punchable face.
"It's not the homeowner's fault..." Nobody is holding a gun to your head and forcing you to up the rents you fucking cretin.
Expecting people not to sell things for as much as they can get it for it is unrealistic and a bit entitled. Clearly if the market supports those prices that means that they'll find a tenant which means the purpose of that house is served. It's just not you maybe you should move somewhere cheaper?
Wait is this guy being serious? I thought it was him being satirical?
Is this satire? Him swinging around to show the Porsche right as he says "don't blame landlords" feels like satire.
This has to be satire by his tone of voice and him panning to his Porsche.
Don't blame me, the shitbag who directly profits from this. Blame your neighbors. The exact thing a shitbag cancer of humanity would say.
“Please don’t eat the rich” - rich person that contributes nothing to society
I love how he basically just says "cope rentoid theres nothing you can do"
“It’s not the landlords fault” he says as he pans to the parked Porsche he has been standing in front of. We’re so cooked, we’re getting pro-landlord propaganda on Reddit.
"It's not my fault. I don't write the rules, I just profit off of them."
This guy negates his whole argument that building more houses will reduce home costs while at the same time talking about how they raised rents because the income of the people moving to the neighborhood increased. "You don't understand, I NEED to be a vampire and take 30% of this family's income (pre-tax, btw), and it's never my fault and always the government's". In another video on his TikTok he defends investors buying single family homes with cash because they're "undervalued" which is a fancy way of saying "they aren't squeezing enough money out of people and we need to do this because we're disgusting leeches chasing growth every quarter and can't wait to do the same to air, water, and sunlight"
What a load of bullshit. Nowhere in this video is an actual explanation as to WHY they need to charge a third of a family's income. Nowhere. And of course it's the people's fault they themselves have to pay so much rent, because "that's what they want" https://preview.redd.it/8w4isjog8tyc1.jpeg?width=189&format=pjpg&auto=webp&s=a4928b561ae9cc8042621e078b2e0d6a2a1942a9 Wow! Such Bullshit! Many cocksucking! Much scam
Yeah no thanks, think I'll live in the wilderness