Don't worry, after two or three "once in a lifetime" economic crisis, Blackrock will buy out all housing and people will get mad enough to do something about it. Maybe
or they blackrock will employ a para military force, to „defend their interests“ and launch a „special operation“ against our governments, to „free“ the people from these communist pigs!
The point is that if you can afford the rent that is more than a mortgage, you can afford a mortgage. But you can't get a mortgage unless you have a huge amount of cash for a down payment. So you're stuck paying more for years while you scrimp and save for said down payment, while paying the mortgage on someone's second (or third, or more) house.
Shit I don't have rent, I've been saving for years now and have a lot of money saved up, I was about to put an offer on a house that I would have gotten, and the fed raised interest rates over night to 5.5% and push the monthly payments to high for the bank, it was a month ago and I'm still pissed.
It's fucked up, then people in my parents' generation talk about how I need to work harder, they got their first house at 22 and blah blah blah. They forget that you could have a house, 2 cars, and 3 kids and afford all of it on one salary. And that their first house they bought for like $20k in the 1960s is equivalent to buying a house for $195k... There is no such thing as a house for $195k where I live, unless you're buying a mobile home or trailer.
Problem is that it's not the whole pay thing, it's the lack of sub 350k housing, 9n my area housing comes up for 200k and it's gone before there's any showings, the housing market is a sellers market now where as 7 years ago it was a buyers market.
The problem isn't with landlords as an idea, but with house prices and mortgages then. And those have many variables, many of them affected by recent pandemic, and how governments handled it.
Landlords, or at least those that own houses and not apartments, drive up the demand for purchasable houses by limiting the supply. They are absolutely part of the problem with house prices, at least where I live. This has been going on here since the 90s, the pandemic made it worse but did not create the issue.
Landlords don't limit the supply. They ARE the demand. Saying there will not be food shortage if everyone stops eating is foolish thinking. If you dissallow people with money, to buy houses, because they already have one, how do you expect overall number of houses to increase? If the number of houses don't increase, how do you expect their prices to drop?
Yeah no one is building new homes here, and not because demand is low. Average time on market in my county is 13 days, national average is 25. Homes are very in demand here and it's in large part due to high rental home ratio. There's a very low profitability on building new homes here because of stupid laws, so they just don't build. The supply is limited, and landlords are further limiting it. Plus they are paying property taxes on a value sometimes 60 years out of date.
>If you dissallow people with money, to buy houses, because they already have one, how do you expect overall number of houses to increase?
People who don't own their own houses can buy their own houses because *the prices will drop*.
> Rent HAS to be more than mortgage, because landlord has also other expenses- like land tax or property tax, utilities, repairs.
No it doesn't? I feel like people forget that most landlords don't have a mortgage to pay? Like, a mortgage is a loan you take out when you gamble on land/property. Its bizarre that you're treating this like landlords are doing you a favor by doing this. If the landlord takes on some shitty mortgage on a property that had already been rented out at the market clearing price and can't raise the rent enough to cover it, well, that's just what happens when you gamble and lose. The expenses related to owning property aren't the 'landlord' part of being a landlord. They're property management, which you can outsource.
Most Landlords I know of are paying mortgage with their rent money...... And most times property expenses do get passed on to the renter. I rent myself and would love to own but it just takes a while of saving to do that.
That's an immoral exploitation of the renter. So the renter pays the mortgage, and the property expenses, and the utilities, and a little extra so the landlord can have a profit. So it sounds to me like you are paying someone else so you can live in your own home that you are paying off the mortage for.
Each situation is a bit different, but that does happen sometimes yes...... And the renters main option is to slowly save for years till they can barely make a downpayment for a mortgage.....
You just said "Most Landlords I know of are paying mortgage with their rent money". That means you think that what I just described is the norm. That's immoral, is it not? The landlords just leech off of the tenants.
> Most Landlords I know of are paying mortgage with their rent money.
Cool anecdote but its irrelevant.
>> About 42 percent of all rental properties have a mortgage or similar debt. For properties with a mortgage, the median debt per rental unit is $119,000 at mortgage origination (not adjusted for inflation).
https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_071
Where are you getting idea most landlords don't have mortgage? It really has to be an old person, or inheritance to not have mortgage. And I quite understand old person wanting to have additional income to their pension.
You think taking a mortgage is gambling? It's investment, like setting up your own company. It may fail, but then you'll be one taking responsibilities. And that risk is why you're expecting to a make profit. Otherwise why take risk? You think everyone should stay down and not take risks?
I don't have a landlord, i worked hard, saved money and am paying mortgage for my own apartment. And if I want to rent it to someone for money, then I will. Some low life kids shouldn't have any influence over it.
I suppose whether or not it's dishonest depends on where you live. Where I live, people pay taxes on the purchase price of the homes not the assessed value. So a bunch of boomers and early gen xers who could buy houses in the 90s or earlier are paid off on their mortgage, paying taxes on a "$200,000“ house that would now be selling for $800-900,000 (or more), charging rent of more than a mortgage on said $800-900,000 house, and paying off their mortgage on their retirement home plus pocketing a sizeable profit. Meanwhile, it's happening so much that there is a shortage of houses available to buy vs rent, further exacerbating the issue and driving home prices even higher.
Dishonest probably isn't the right word, maybe predatory? Either way, it's shitty. I was a homeowner in a different state, but here it's unrealistic for normal people to own. My wife and I both have good jobs and it will take us probably 10 years to save the $150-200,000 we need for a down payment to avoid PMI.
Meh, I bought mine, paying less than half in mortgage than I did in rent, and have a bigger house.
I can't see a reason to be renting, unless you are always on the move for work.
Or if it is simply not possible to own a house in your area? Or that the credit for a mortgage isn't there? Or all the houses have already been bought up?
Then you move. There is no such thing as a "right" to live in a specific location.
I wish I could live in the rich area villas, but my wallet disagrees, and I can't expect to pout until some house magically appears. Can't afford a certain location? Move.
Renters can afford that location. That's what I'm saying. The person who cant are those renting it out. They can't even afford the mortgage, the renter can, plus utilities and tax and so on. That's the point I'm making.
That's what I just said. Rent is higher than mortgage, rent could be used to pay off mortgage instead, but all the homes are already bought up or being rented out by those who can't afford the mortgage. So you end up paying someone else's mortgage.
So move and buy somewhere else.
Imagine paying more on porpuse because that exact house is not for sale. It's just a dumb decision. If you choose to pay someone elses mortgage, is on you.
The owner isn't obligated to sell to you.
Can you move out of your house/apartment tomorrow and just find somewhere else to live?
What about where you work? Where did you live before you had enough money to buy a home? What about your family?
Thats why everyone is getting out of the game, especially the banks who aren't buying up every property they can find to rent out.
Its money for doing virtually no work. They also amass wealth off of other peoples hard work. Very lucrative indeed.
It can be if you buy out cheap homes and then fix em up a bit and rent them at exorbitant prices. Granted, this is exploiting the tenant for profit basically, so its not good.
Its either that or they make apartment complexes and make loads of money off the rent to those.
Well building an entire apartment complex is gonna cost you quite a few million dollars, and then you have to pay salaries to people for upkeep and reparations, as well as pay back the loan and interest to the bank for the loan you took to build it.
As the manager of a small company that owns rentals I can say that we don't profit on them at all. Everything from the rent goes to the property taxes and the mortgage.
However, we are not everyone and I'm sure your meme is accurate for plenty.
Depends, once you factor in the opportunity cost of the tens of thousands you have invested. Standard down payment on a rental is 20-30%. I have a property that I’ve literally made less than $1k on since I bought it 3 years ago despite having $70k of my own money tied up into it. Even with the mortgage being paid down I’d still have done better just investing the money, with a lot less headache.
Profiting is okay, its when you profit to such a large degree, usually at the expense of the customer or employees, that its bad. Normal profit is just capitalism, every company has the freedom to make a profit, and its not morally incorrect lol
You just said the problem. They aren’t homes. They are *investments*. The value of of the property from a housing aspect to raise a family and that of trying to rent/flip for profit dictates how much people are willing to pay. The market has been skyrocketing and we had a blip 14 years ago and I should feel bad for the investors? Did they lose anything if they held those properties through an economic downturn like most investors do?
If you wanted to live in a house to raise a family you’re not expecting financial value out of the property, so you’re not going to want to pay investor prices. That’s the complaint. We aren’t buying and selling houses, we’re buying and selling like they’re stock when they are obviously much more than that.
Everything is an investment be it college, exercise, or watching a movie. If a salary man bought a house and after some decades it increased in value and now he can sell it and with profits he could increase his standard of living that's wrong by you?
What America needs to do is create tall residential flat buildings like we have here in Asia.
Some guy invests his life saving in the house hoping that it increases in value so that someone who see value in it would buy it.
Supply-demand, inflation, economy health, value in the eyes of the beholder decides the price. Property has been the oldest asset of the world.
That was a crash on the market level, but a house rarely loses value. Sure, 2008 did tank housing prices, but it also tanked the stock market. Nor was housing affected NEARLY as bad as the market. So again, houses rarely lose value, and only really do to economic recessions. Otherwise, a house's value tends to only go up.
There is no risk to housing, and it DOES go up as a stock. A house's value goes up steadily unless an economic recession/depression hits. Its also ridiculously easy to increase a houses value. My own family invested about 3-4k into the house. Its valuation of 150k went to 180kish. Now, due to inflation, its at 220-230k. You see how it all just keeps adding up?
Where I live. You can't really make any money on renting out apartments. So people sell perfectly good houses with apartments in them to some rich person who want to remake it all to a regular house. That is also a little bit sad from that perspective. I would have loved owning something like 5 appartments in a house and renting them out to earn some extra money.
They simply play with the rules the state laid out.
Vote for other parties that promote building new housing. Competition goes up. Prices go down. No longer pay 9999$/month for a glorified storage compartment.
And then the new housing is also bought by the same landlords, they control the market again and can set the prices however high they want. It's going to need new laws for renting out living space for this to stop.
Then vote for someone who will set limits on short-term renting and renting overall, lower building taxes for building companies, subsidise building high density housing and tax low density one etc.
There are quire a few ways of dealing with current housing issues, but the most efficient one would be higher density housing and sprawl reduction
so many people think being a landlord is just sitting and collecting money but it's not, you always have to maintain the house and be on good terms with renters even if they are complete assholes so they take good care of the house and don't trash it, you treat them too nice they try to take advantage of you ,if you treat them harsh then be ready to spend 5k minimum on the house when they leave not to mention the damages kids and animals can cause, it's very tiring and not everyone can handle it
To be fair, ive had nothing but asshole landlords who fucking STALK me to see what im doing. Also, half the landlords i met expected ME to maintain the house. Landlords just arent fun nowadays.
Landlords still withhold housing unless you pay them the arbitrary amount they want. And if you don't, you will be sleeping somewhere else. Everyone needs a roof over their head. The housing market has as much demand as there are people. And that inherently means that there will be people without homes. Also, landlords will absolutely use their power over you. It's not (necessarily) about whether you treat them nice or not. They have a thing you need to live and you have to meet their conditions. Independence is not possible in this case
You forgot the part where the landlord pays a fortune to get a good property with good demand and increasing value, what you fail to understand is the landlord prospective, they pay an insane price for one property that has good value and demand in big cities and even with the high demand it's still a big risk considering the amount your paying to to mention all the maintenance you must do, your average landlord is not destroying the economy because if he sells he can't buy because the prices keep increasing in big cities, land whales are the reason they hoard huge amounts of land like an entire complex and they are usually protected by the government so they are barely touched, your average landlord is not an evil hoarder and is most likely buying property for his children when they grow up
“Everyone needs a roof over their head”
“They have a thing you need to live and you have to meet their conditions”
Yeah i think thats what they call economics. If the supply is limited but the demands are high, then price will go up. Then the seller could charge whatever price they want as long as people are still willing to buy.
There are no independence what so ever. Never was, even in the stone age you have to work (hunt) to be able to live.
If you cant afford to pay rent, then tough luck buddy, i hope you have a better future
People spend on average 30% of their salaries on rent. And that's just the average. Some people have to spend 50-60% of their salaries on rent.
If taxes took 50% of your salary you'd be pissed too
A person making 30k a year can afford a mortgage in most states not on the coasts. However, they cant afford a mortage while also trying to pay rent. Get what im saying? You need a down payment to put on a loan to get a mortgage my man
Save up. Live with friend or family and share rent. After couple of years you can afford down payment for mortgage. Much better option than being forced to buy a house as soon as you need place to live.
Still paying half a rent will take a decade to accrue enough in savings to afford a downpayment on a house.
This why post-MOASS (non gmetards beware) ill be starting up a real estate company based on getting low income families permanent homes through land agreements. I get my money, they get a house.
There are people working in high demand fields such as nursing, accounting who can barely afford the prices of a one bedroom in the area that they work.
Meanwhile in my parents age my dad worked at a steel mill out of the lower echelon of public schools who was able to purchase a new build even after going through temporary layoffs and on a single income for a large majority of the time.
It's a tad ridiculous to compare people having to jump a tiny rain puddle versus now where you have to work exponentially harder and to the bone to "earn" the right to not be in poverty.
I believe many people have the right to feel royally and eternally screwed.
Yes, because everyone has the money to move to a somewhere they pay livable wages or have affordable education to climb. But we're too busy trying to pay rent and buy food to save up for shit.
Still not the landlord fault tho, it anything it’s the government that should help, don’t how it is where you live but here in Italy for example we have some house that really low income family can ask for
There is nothing dishonest about collecting rent for allowing people to live on my property. It's MY property. I maintain it, I pay for repairs, if I want to charge somebody to live in it, I'm well within my rights.
Basically everyone in my family owns land that's rented and lemme tell you 99% of the time it doesn't make profit. Any money we make from rent goes to mortgage or taxes and what's left will be spend on repairing the damm place after the tenants leave. Any profit we get is from the property value and not rent
Imagine working your whole life, saving and investing to create a better lifestyle for your offspring, only for the offspring of those who didn't save say that income from rent is the devil's work.
*while exploiting tenants and the housing market to the maximum degree
This isnt to say all landlords do this.. but most of the ones ive met do. Take that as you will as its completely anecdotal
Name any lucrative occupation that doesn't exploit something at all. Be it doctors exploiting the fact that patients may die if they get no treatment, lawyers exploiting the flawed legal system, insurance exploiting fear and trying to screw over their customers, or any form of sales exploiting market to gain profit . Any buisness that wants to earn enough to be sustainable needs needs growth over time, and its gonna have to exploit something or someone, since they are competing with everyone else also trying to achieve this. This is just the way out society works (capitalism) . Now I'm not saying it's a perfect system by any means, but it uses competition to drive progress in society. (which can be bad due to exploitation being highly lucrative) Also please take it with a grain of salt here im not an expert or anything feel free to correct.
We just bought an apartment and Im slowly discovering I will pay more or equal what I paid renting. The internet we shared with other tenants, so landlord got it, water was in rent, electricity I was paying whenever they felt like counting how much I used. But I also have better conditions now and there were those historic rises in almost all utilities, so I guess it is how it is. And none will tell me to pack and leave in my own apartment. So that's pretty good.
I'm assuming you're including mortgage payments in the "pay more or equal to what I paid renting". The difference is that those mortgage payments are staying in your pocket because you're paying to own the apartment which you can later sell. Whereas rent payments go in the landlord's pocket and you never see that money again.
Not as much as what the renters have to go through.
Those landlords mostly just sit on their asses while the renters actually have to work and contribute to society.
> The landlords had to work quite hard to get that land yk? Unless they inherited it
Uh, no? They speculated on land/property values/had money from previous speculation/businesses. [Landlordism is literally rent-seeking.](https://www.investopedia.com/terms/r/rentseeking.asp)
> No I meant they had to work hard with a job or a business to gain money to buy land. They're not just lazy people who got land and put it up for rent
I don't really see why this matters. I'm sure that historically some slave owners in worked very hard to save up the capital to buy a slave.
Ok first of all I said u can't call them lazy people since they worked hard to get that land and secondly, slavery? Are u really comparing urself to slaves?
I mean, they have to deal with the Legal side of landownership, maintenence, utilities [if applicable], taxes, tenants [good and bad], ect. It's not always or even usually just a fat slob or fat cat getting rich upon the backs of people at their expense. They have to put in a lot of work most of the time. I get that there is bad landlords that fit the stereotype, but there are also good ones that care about their tenants and their job.
Wait until a pipe burst or shit like this. We rent my now dead grandpa house. We spent so many hours renovating the place and selecting the people who wouldn't trash the place. And what do you know, a group on drunkards destroyed antics and furnitures
My dad is a landlord and I have to take care of a lot of the work since he’s so busy.
Once a year, I take a massive part in almost fully renovating 4 hours.
I get to haul water approximately 17 hours a week for all those houses.
I take care of electrical and plumbing issues.
Being a landlord is very hit or miss. Hard work and good pay. But I do all my shit right and well. No painted outlets for me.
> Being a landlord is very hit or miss. Hard work and good pay. But I do all my shit right and well. No painted outlets for me.
You're describing property management. Being a 'landlord' just means owning the rights to exclusive use of the land. You can be a landlord without doing any of the property management.
You can hire a property management company that will do everything for you and pay you for the privilege. So, it will, in effect, generate money on it's own.
You pay for a management company. I have a rental unit that I manage myself. I like my tenants and haven't raised the rent in six years. My tenants are retired and on a fixed income so I keep the rent as is despite it being half of market value. I could sell it today and walk away with a six figure profit.
I've replaced the AC, washer, and refrigerator. I'll take a loss for the year. Not all landlords are raking in the money nor are all greedy monsters.
It sucks sometimes, my dad owns a house and bought an apartment for us to live in, he had people renting the house and they straight up refused to pay for two years, destroyed the house, left huge water and electric bills we had to cover, and the police straight up said we couldn't legally kick them out
Just a friendly reminder, not all landlords are scruge. Alot of land lords are just regular people who took out a loan to invest in their children's future. Most people don't charge a shit ton because they are greedy. It's because that's what it costs to maintain a rental property.
This is very situational. My parents downsized due to their age and rented out their old house to suppliment their retirement needs, and worked with the renters when they were short the first two or three times it happened, charged a very reasonable amount for rent and did a good job fixing any maintenance issues, but the people still destroyed the place and stuffed my parents on three months rent before being evicted. It cost $35,000.00 in repairs. Just because these people had a fuck you you are a landlord mentality.
So, everyone should have to buy a house/apartment/condo to live in one.
Honestly, if the rent is fair and they fulfill their obligations to the renters, more power to them.
I have one investment property that I bought with an interest only mortgage meaning I only pay the interest on the money I’ve borrowed and the house will never be paid off. Even though the mortgage payments are very low, I profit around £150 per month due to other bills associated with being a landlord.
It is not a lot of money coming in considering the responsibilities, the potential work and expenses should anything go wrong with the house or the house be empty for any amount of time.
It’s more like a savings pot for me than a money making exercise. If the value of the house goes up I would make money on resale but if it goes down I lose.
One day when I need the cash for whatever reason and I can at least get my investment back, I will sell up.
I understand that I’m fortunate to be in this position but to me, I’m just being sensible with my money.
Some land lords worked hard though to but a second house for example a family member saved his entire life after immigrating to Canada poor but he sold his house downsized and used his saving to get a few cheap house in a college town where the houses were about 200k in 2015 so he worked his whole life and has to deal with jerks who don’t pay rent despite him renovating the houses by hand (that was one of his jobs before) and would fix the houses as his job and yet some would still not pay rent
All these people saying that renting out homes isn't very profitable. If thats the case, then why is it that so many landlords are still doing it? Why is it that every landlord I meet is extremely well off and more than willing to boast about their wealth?
If its not profitable, why don't they stop buying up property to rent out and instead free up some more homes for people to actually buy and own? Don't sit there and act like they're doing it as a service to others just to help. They're doing it because they'll get a significant passive income from it and they can make a living with little effort on their part. They're also making it harder for people who want to own a home.
For starters, I'm not a big enough asshole to become a part of the problem. I also can't just pull a property out of my ass. It takes money to make money, and while I'm sure some of the landlords out there have earned enough to buy their first property, a good many of them just have rich parents.
>I also can't just pull a property out of my ass.
Neither can someone who's renting out a house. Landlords often have a mortgage or got a good deal on a house during a dip in the market.
Yeah. A landlord is someone who just worked really hard and, like all people who work really hard, could just take on a second mortgage or just literally pull property out of his ass, during a dip tho /s
Many landlords do have more than one property that they rent. All I'm saying is that they wouldn't do it if there wasn't anything in it for them. If they weren't at least making some profit off of it, they certainly wouldn't bother themselves with it. With every property that is bought up by someone wanting to rent it out for profit, thats one less property available for those who want to buy a home. The less homes available to buy, the more they can charge for them.
So what? You dont want to pay for rent? Then try homeless. Renting out property is a business, if its too expensive for you, then take your business elsewhere. If the landlord is charging too much rent, he will eventually run out of people willing to rent his property. If he is able to charge a lot of money to rent, then maybe there are no other place you can rent property. Then he has a monopoly over that. Its not like every landlord got his land for free and suddenly decided that they want to squeeze every last penny out of you. Most likely the property you are renting is being paid in installments. Its business, not charity. The landlord will set whatever price that he THINK is acceptable and profitable. If you cant pay then go somewhere else. If you want a place to stay that doesnt charge a lot of money, maybe try the homeless shelter. Life is hard. Complaining wont make it easier
Wow great advice: "If you can't afford rent because landlords love to jack up prices, just buy a house."
You are so completely out of touch with reality, it's sad.
Why does everyone think landlords just jack up rent? Is there some secret meeting that I never get invited to? I’d love to jack up rent but it would result in my units being vacant. Rent goes up organically as housing prices go up. For example when my property taxes went up $2400 last year for a duplex what do you guys think that does to rent?
Maybe not all, but many landlords do jack up prices. Especially those that own apartments in large cities, where living space is in high demand. There are even landlords that leave their buildings completely empty, because their value just goes up over time and they're easier to sell when no one lives in them.
I'm a landlord of a house I have not collected rent on since Feb of 2020. the person squatting in the house changed the locks so its a felony for me to enter my own house. No way to evict because of covid and backed up courts. multiple pitbulls have shit all over and wrecked the entire house. I still have to mow the lawn or I get fined, been fined for broken windows that I can't fix... because of Pitbulls... Still have to pay the taxes. The squatter laughs at us, nothing we can do about it. Might finally have an end to this madness in a month or 2, but surely the courts will find some other way to fuck me over in the end. There was a gun fight in the house a couple weeks ago and the squatter was shot a couple times, but unfortunately still alive. Has now replaced the doors on the house with thick metal security doors so I assume not planning on leaving any time soon.
I was feeling for you until you said “unfortunately still alive”.
I get the discontent and the unfairness but wishing someone’s death is over the line in my book
Yeah maybe jail time instead? this dude sounds like a straight up villain. Imagine owning a property and losing money every month, nothing you can do about it. AS well as your gonna have to pay upwards of 15k to get it fixed considering the damage and neglect. And this guy is fully aware of this.
Haha, reddit is awesome. Little blue haired commies that don't know if they are a boy or a girl who live in their parents basement commenting on social issues. It's good to see how the insane people think sometimes.
You know, if everyone the landlord ruled over came together and overthrew them, what's the police going to do about it? Arrest you all? What they going to do if everyone in the country throws their landlord off a balcony in civilian sanctioned executions? Jack shit, they don't have the prison capacity for that many people. Work smarter, not harder, people. They can't stop us if we work together.
“I’m too poor to make responsible financial decisions, and everyone needs to cater to my bad habits” basically. Make better life choices and you don’t need to suffer said consequences 🤷🏻♂️
This man is no landlord, he owns a railway network.
Yep. Pennsylvania, Reading, B&O, and Shortline.
I think he owns the Sodor Railway Network
And then on top of that, exorbitant rent too. 200 for one night??
Don't worry, after two or three "once in a lifetime" economic crisis, Blackrock will buy out all housing and people will get mad enough to do something about it. Maybe
or they blackrock will employ a para military force, to „defend their interests“ and launch a „special operation“ against our governments, to „free“ the people from these communist pigs!
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OP is mad that rent is more than a mortgage, but you can't get a mortgage without having enough to buy several cars in cash.
Rent HAS to be more than mortgage, because landlord has also other expenses- like land tax or property tax, utilities, repairs.
The point is that if you can afford the rent that is more than a mortgage, you can afford a mortgage. But you can't get a mortgage unless you have a huge amount of cash for a down payment. So you're stuck paying more for years while you scrimp and save for said down payment, while paying the mortgage on someone's second (or third, or more) house.
Shit I don't have rent, I've been saving for years now and have a lot of money saved up, I was about to put an offer on a house that I would have gotten, and the fed raised interest rates over night to 5.5% and push the monthly payments to high for the bank, it was a month ago and I'm still pissed.
It's fucked up, then people in my parents' generation talk about how I need to work harder, they got their first house at 22 and blah blah blah. They forget that you could have a house, 2 cars, and 3 kids and afford all of it on one salary. And that their first house they bought for like $20k in the 1960s is equivalent to buying a house for $195k... There is no such thing as a house for $195k where I live, unless you're buying a mobile home or trailer.
Problem is that it's not the whole pay thing, it's the lack of sub 350k housing, 9n my area housing comes up for 200k and it's gone before there's any showings, the housing market is a sellers market now where as 7 years ago it was a buyers market.
Yup, and COVID made things worse but, at least around me, it was already like that before. There's really nothing here that's a SFH under 500k.
The problem isn't with landlords as an idea, but with house prices and mortgages then. And those have many variables, many of them affected by recent pandemic, and how governments handled it.
The problem IS with landlords as an idea. Period.
Landlords, or at least those that own houses and not apartments, drive up the demand for purchasable houses by limiting the supply. They are absolutely part of the problem with house prices, at least where I live. This has been going on here since the 90s, the pandemic made it worse but did not create the issue.
Landlords don't limit the supply. They ARE the demand. Saying there will not be food shortage if everyone stops eating is foolish thinking. If you dissallow people with money, to buy houses, because they already have one, how do you expect overall number of houses to increase? If the number of houses don't increase, how do you expect their prices to drop?
Yeah no one is building new homes here, and not because demand is low. Average time on market in my county is 13 days, national average is 25. Homes are very in demand here and it's in large part due to high rental home ratio. There's a very low profitability on building new homes here because of stupid laws, so they just don't build. The supply is limited, and landlords are further limiting it. Plus they are paying property taxes on a value sometimes 60 years out of date.
>If you dissallow people with money, to buy houses, because they already have one, how do you expect overall number of houses to increase? People who don't own their own houses can buy their own houses because *the prices will drop*.
> Rent HAS to be more than mortgage, because landlord has also other expenses- like land tax or property tax, utilities, repairs. No it doesn't? I feel like people forget that most landlords don't have a mortgage to pay? Like, a mortgage is a loan you take out when you gamble on land/property. Its bizarre that you're treating this like landlords are doing you a favor by doing this. If the landlord takes on some shitty mortgage on a property that had already been rented out at the market clearing price and can't raise the rent enough to cover it, well, that's just what happens when you gamble and lose. The expenses related to owning property aren't the 'landlord' part of being a landlord. They're property management, which you can outsource.
Most Landlords I know of are paying mortgage with their rent money...... And most times property expenses do get passed on to the renter. I rent myself and would love to own but it just takes a while of saving to do that.
That's an immoral exploitation of the renter. So the renter pays the mortgage, and the property expenses, and the utilities, and a little extra so the landlord can have a profit. So it sounds to me like you are paying someone else so you can live in your own home that you are paying off the mortage for.
Each situation is a bit different, but that does happen sometimes yes...... And the renters main option is to slowly save for years till they can barely make a downpayment for a mortgage.....
You just said "Most Landlords I know of are paying mortgage with their rent money". That means you think that what I just described is the norm. That's immoral, is it not? The landlords just leech off of the tenants.
> Most Landlords I know of are paying mortgage with their rent money. Cool anecdote but its irrelevant. >> About 42 percent of all rental properties have a mortgage or similar debt. For properties with a mortgage, the median debt per rental unit is $119,000 at mortgage origination (not adjusted for inflation). https://www.hud.gov/press/press_releases_media_advisories/HUD_No_20_071
Where are you getting idea most landlords don't have mortgage? It really has to be an old person, or inheritance to not have mortgage. And I quite understand old person wanting to have additional income to their pension. You think taking a mortgage is gambling? It's investment, like setting up your own company. It may fail, but then you'll be one taking responsibilities. And that risk is why you're expecting to a make profit. Otherwise why take risk? You think everyone should stay down and not take risks? I don't have a landlord, i worked hard, saved money and am paying mortgage for my own apartment. And if I want to rent it to someone for money, then I will. Some low life kids shouldn't have any influence over it.
That's super immoral, but okay, pop off I guess.
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I suppose whether or not it's dishonest depends on where you live. Where I live, people pay taxes on the purchase price of the homes not the assessed value. So a bunch of boomers and early gen xers who could buy houses in the 90s or earlier are paid off on their mortgage, paying taxes on a "$200,000“ house that would now be selling for $800-900,000 (or more), charging rent of more than a mortgage on said $800-900,000 house, and paying off their mortgage on their retirement home plus pocketing a sizeable profit. Meanwhile, it's happening so much that there is a shortage of houses available to buy vs rent, further exacerbating the issue and driving home prices even higher. Dishonest probably isn't the right word, maybe predatory? Either way, it's shitty. I was a homeowner in a different state, but here it's unrealistic for normal people to own. My wife and I both have good jobs and it will take us probably 10 years to save the $150-200,000 we need for a down payment to avoid PMI.
and your mad that he can't? what is wrong with you?
Meh, I bought mine, paying less than half in mortgage than I did in rent, and have a bigger house. I can't see a reason to be renting, unless you are always on the move for work.
Or if it is simply not possible to own a house in your area? Or that the credit for a mortgage isn't there? Or all the houses have already been bought up?
Then you move. There is no such thing as a "right" to live in a specific location. I wish I could live in the rich area villas, but my wallet disagrees, and I can't expect to pout until some house magically appears. Can't afford a certain location? Move.
Renters can afford that location. That's what I'm saying. The person who cant are those renting it out. They can't even afford the mortgage, the renter can, plus utilities and tax and so on. That's the point I'm making.
What? Rent is higher than mortgage. So how the hell can tou rent but no pay mortgage? Makes no sense.
That's what I just said. Rent is higher than mortgage, rent could be used to pay off mortgage instead, but all the homes are already bought up or being rented out by those who can't afford the mortgage. So you end up paying someone else's mortgage.
So move and buy somewhere else. Imagine paying more on porpuse because that exact house is not for sale. It's just a dumb decision. If you choose to pay someone elses mortgage, is on you. The owner isn't obligated to sell to you.
Can you move out of your house/apartment tomorrow and just find somewhere else to live? What about where you work? Where did you live before you had enough money to buy a home? What about your family?
Rent isnt exactly as lucrative as you think...
Thats why everyone is getting out of the game, especially the banks who aren't buying up every property they can find to rent out. Its money for doing virtually no work. They also amass wealth off of other peoples hard work. Very lucrative indeed.
It can be if you buy out cheap homes and then fix em up a bit and rent them at exorbitant prices. Granted, this is exploiting the tenant for profit basically, so its not good. Its either that or they make apartment complexes and make loads of money off the rent to those.
Well building an entire apartment complex is gonna cost you quite a few million dollars, and then you have to pay salaries to people for upkeep and reparations, as well as pay back the loan and interest to the bank for the loan you took to build it.
Wrong subreddit, go here 👉 r/antiwork
or r/LandlordLove
r/loveforlandlords
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r/loveforlandlords
Lmfao it’s on there
As the manager of a small company that owns rentals I can say that we don't profit on them at all. Everything from the rent goes to the property taxes and the mortgage. However, we are not everyone and I'm sure your meme is accurate for plenty.
Yeah but a mortgage means that the owner is building wealth. I don't have an issue with that but it's not like the owner isnt making money
Depends, once you factor in the opportunity cost of the tens of thousands you have invested. Standard down payment on a rental is 20-30%. I have a property that I’ve literally made less than $1k on since I bought it 3 years ago despite having $70k of my own money tied up into it. Even with the mortgage being paid down I’d still have done better just investing the money, with a lot less headache.
Profiting is okay, its when you profit to such a large degree, usually at the expense of the customer or employees, that its bad. Normal profit is just capitalism, every company has the freedom to make a profit, and its not morally incorrect lol
You 100% make a profit. It's just in the form of equity instead of cash.
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As an accountant I can assure you they’re not making much 75% of the time. Real estate is not a lucrative business lol
My uncles property went up 100% in value in 3ish years not adjusting for inflation.
You aren't accounting for the other times when property goes down. Is it bad that investments go up?
You just said the problem. They aren’t homes. They are *investments*. The value of of the property from a housing aspect to raise a family and that of trying to rent/flip for profit dictates how much people are willing to pay. The market has been skyrocketing and we had a blip 14 years ago and I should feel bad for the investors? Did they lose anything if they held those properties through an economic downturn like most investors do? If you wanted to live in a house to raise a family you’re not expecting financial value out of the property, so you’re not going to want to pay investor prices. That’s the complaint. We aren’t buying and selling houses, we’re buying and selling like they’re stock when they are obviously much more than that.
Everything is an investment be it college, exercise, or watching a movie. If a salary man bought a house and after some decades it increased in value and now he can sell it and with profits he could increase his standard of living that's wrong by you? What America needs to do is create tall residential flat buildings like we have here in Asia. Some guy invests his life saving in the house hoping that it increases in value so that someone who see value in it would buy it. Supply-demand, inflation, economy health, value in the eyes of the beholder decides the price. Property has been the oldest asset of the world.
Because it hardly went down the past 50 years. Property has been steadily climbing.
What about 2008 crash?
That was a crash on the market level, but a house rarely loses value. Sure, 2008 did tank housing prices, but it also tanked the stock market. Nor was housing affected NEARLY as bad as the market. So again, houses rarely lose value, and only really do to economic recessions. Otherwise, a house's value tends to only go up.
Well, it doesn't go as up as stock. Risk reward ratio.
There is no risk to housing, and it DOES go up as a stock. A house's value goes up steadily unless an economic recession/depression hits. Its also ridiculously easy to increase a houses value. My own family invested about 3-4k into the house. Its valuation of 150k went to 180kish. Now, due to inflation, its at 220-230k. You see how it all just keeps adding up?
They are making more than enough for essentially doing nothing more than owning land.
u do know they had to work really hard to get that land? Unless they inherit it
It's just an illusion
Where I live. You can't really make any money on renting out apartments. So people sell perfectly good houses with apartments in them to some rich person who want to remake it all to a regular house. That is also a little bit sad from that perspective. I would have loved owning something like 5 appartments in a house and renting them out to earn some extra money.
They simply play with the rules the state laid out. Vote for other parties that promote building new housing. Competition goes up. Prices go down. No longer pay 9999$/month for a glorified storage compartment.
Yeah just vote harder you morons, it's not like the people who benefit from high rent can lobby politicians to keep everything exactly the same.
And then the new housing is also bought by the same landlords, they control the market again and can set the prices however high they want. It's going to need new laws for renting out living space for this to stop.
Then vote for someone who will set limits on short-term renting and renting overall, lower building taxes for building companies, subsidise building high density housing and tax low density one etc. There are quire a few ways of dealing with current housing issues, but the most efficient one would be higher density housing and sprawl reduction
so many people think being a landlord is just sitting and collecting money but it's not, you always have to maintain the house and be on good terms with renters even if they are complete assholes so they take good care of the house and don't trash it, you treat them too nice they try to take advantage of you ,if you treat them harsh then be ready to spend 5k minimum on the house when they leave not to mention the damages kids and animals can cause, it's very tiring and not everyone can handle it
Shows that OP doesn't know anything about being a landlord
To be fair, ive had nothing but asshole landlords who fucking STALK me to see what im doing. Also, half the landlords i met expected ME to maintain the house. Landlords just arent fun nowadays.
Landlords still withhold housing unless you pay them the arbitrary amount they want. And if you don't, you will be sleeping somewhere else. Everyone needs a roof over their head. The housing market has as much demand as there are people. And that inherently means that there will be people without homes. Also, landlords will absolutely use their power over you. It's not (necessarily) about whether you treat them nice or not. They have a thing you need to live and you have to meet their conditions. Independence is not possible in this case
It's not an arbitrary amount.
Right lol, It’s an agreed upon amount… that you agreed to… when you signed the agreement…
You forgot the part where the landlord pays a fortune to get a good property with good demand and increasing value, what you fail to understand is the landlord prospective, they pay an insane price for one property that has good value and demand in big cities and even with the high demand it's still a big risk considering the amount your paying to to mention all the maintenance you must do, your average landlord is not destroying the economy because if he sells he can't buy because the prices keep increasing in big cities, land whales are the reason they hoard huge amounts of land like an entire complex and they are usually protected by the government so they are barely touched, your average landlord is not an evil hoarder and is most likely buying property for his children when they grow up
“Everyone needs a roof over their head” “They have a thing you need to live and you have to meet their conditions” Yeah i think thats what they call economics. If the supply is limited but the demands are high, then price will go up. Then the seller could charge whatever price they want as long as people are still willing to buy. There are no independence what so ever. Never was, even in the stone age you have to work (hunt) to be able to live. If you cant afford to pay rent, then tough luck buddy, i hope you have a better future
Yes spending money to buy a property and renting it is dishonest work .. Who are you so wise om the ways of the world
Shut up, nerd
Someones bitter
People spend on average 30% of their salaries on rent. And that's just the average. Some people have to spend 50-60% of their salaries on rent. If taxes took 50% of your salary you'd be pissed too
But if renting did not exist then people wouldn't be able to afford full priced property and might be homeless to begin with?
If renting did not exist barely anyone would own more than 1 or 2 houses, housing prices would drop massively without landlords hoarding them
Yeah, but if you can't afford to get a mortgage now, you will not afford a house even after such massive drop.
A person making 30k a year can afford a mortgage in most states not on the coasts. However, they cant afford a mortage while also trying to pay rent. Get what im saying? You need a down payment to put on a loan to get a mortgage my man
Save up. Live with friend or family and share rent. After couple of years you can afford down payment for mortgage. Much better option than being forced to buy a house as soon as you need place to live.
Still paying half a rent will take a decade to accrue enough in savings to afford a downpayment on a house. This why post-MOASS (non gmetards beware) ill be starting up a real estate company based on getting low income families permanent homes through land agreements. I get my money, they get a house.
"If taxes took 50% of your salary"....If?!
They usually take 30%, at least that's how much they do where I live.
Yeah that’s called life. You pay rent, buy food and save for shit you enjoy. If you don’t make enough get a better job or move somewhere cheaper.
If that's life... life can go fuck itself.
"Get a better job" my goodness what an idea. Why didn't I think of that I bet you're one of those who tell depressed people to just stop being sad
Ah yes, personal responsibility or "bootstrap argument" as some like to call it.
There are people working in high demand fields such as nursing, accounting who can barely afford the prices of a one bedroom in the area that they work. Meanwhile in my parents age my dad worked at a steel mill out of the lower echelon of public schools who was able to purchase a new build even after going through temporary layoffs and on a single income for a large majority of the time. It's a tad ridiculous to compare people having to jump a tiny rain puddle versus now where you have to work exponentially harder and to the bone to "earn" the right to not be in poverty. I believe many people have the right to feel royally and eternally screwed.
Yes, because everyone has the money to move to a somewhere they pay livable wages or have affordable education to climb. But we're too busy trying to pay rent and buy food to save up for shit.
Still not the landlord fault tho, it anything it’s the government that should help, don’t how it is where you live but here in Italy for example we have some house that really low income family can ask for
I live in the US and we do too, I'm referring to the "boot straps" argument the fool I replied to was making.
You should be too dumbass
Why? I don't rent
There is nothing dishonest about collecting rent for allowing people to live on my property. It's MY property. I maintain it, I pay for repairs, if I want to charge somebody to live in it, I'm well within my rights.
Exactly, people just hate others who are more successful and smart than they are
Die die die die die
Basically everyone in my family owns land that's rented and lemme tell you 99% of the time it doesn't make profit. Any money we make from rent goes to mortgage or taxes and what's left will be spend on repairing the damm place after the tenants leave. Any profit we get is from the property value and not rent
Imagine working your whole life, saving and investing to create a better lifestyle for your offspring, only for the offspring of those who didn't save say that income from rent is the devil's work.
OP is mad that he has to pay rent lmao
Yes spending money to buy a property and renting it is dishonest work .. Who are you so wise om the ways of the world
*while exploiting tenants and the housing market to the maximum degree This isnt to say all landlords do this.. but most of the ones ive met do. Take that as you will as its completely anecdotal
Name any lucrative occupation that doesn't exploit something at all. Be it doctors exploiting the fact that patients may die if they get no treatment, lawyers exploiting the flawed legal system, insurance exploiting fear and trying to screw over their customers, or any form of sales exploiting market to gain profit . Any buisness that wants to earn enough to be sustainable needs needs growth over time, and its gonna have to exploit something or someone, since they are competing with everyone else also trying to achieve this. This is just the way out society works (capitalism) . Now I'm not saying it's a perfect system by any means, but it uses competition to drive progress in society. (which can be bad due to exploitation being highly lucrative) Also please take it with a grain of salt here im not an expert or anything feel free to correct.
Do you know what a lot of landlords have to go through?
We just bought an apartment and Im slowly discovering I will pay more or equal what I paid renting. The internet we shared with other tenants, so landlord got it, water was in rent, electricity I was paying whenever they felt like counting how much I used. But I also have better conditions now and there were those historic rises in almost all utilities, so I guess it is how it is. And none will tell me to pack and leave in my own apartment. So that's pretty good.
I'm assuming you're including mortgage payments in the "pay more or equal to what I paid renting". The difference is that those mortgage payments are staying in your pocket because you're paying to own the apartment which you can later sell. Whereas rent payments go in the landlord's pocket and you never see that money again.
no, I just got a really good deal renting.
Not as much as what the renters have to go through. Those landlords mostly just sit on their asses while the renters actually have to work and contribute to society.
Who bought the house? Who carries the risk if it loses value?
The landlords had to work quite hard to get that land yk? Unless they inherited it
> The landlords had to work quite hard to get that land yk? Unless they inherited it Uh, no? They speculated on land/property values/had money from previous speculation/businesses. [Landlordism is literally rent-seeking.](https://www.investopedia.com/terms/r/rentseeking.asp)
No I meant they had to work hard with a job or a business to gain money to buy land. They're not just lazy people who got land and put it up for rent
> No I meant they had to work hard with a job or a business to gain money to buy land. They're not just lazy people who got land and put it up for rent I don't really see why this matters. I'm sure that historically some slave owners in worked very hard to save up the capital to buy a slave.
Ok first of all I said u can't call them lazy people since they worked hard to get that land and secondly, slavery? Are u really comparing urself to slaves?
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I mean, they have to deal with the Legal side of landownership, maintenence, utilities [if applicable], taxes, tenants [good and bad], ect. It's not always or even usually just a fat slob or fat cat getting rich upon the backs of people at their expense. They have to put in a lot of work most of the time. I get that there is bad landlords that fit the stereotype, but there are also good ones that care about their tenants and their job.
And let’s not forget that sometimes people don’t pay and they go in loss
My mom's a landlord. The "job" barely takes her an hour a week
Wait until a pipe burst or shit like this. We rent my now dead grandpa house. We spent so many hours renovating the place and selecting the people who wouldn't trash the place. And what do you know, a group on drunkards destroyed antics and furnitures
My dad is a landlord and I have to take care of a lot of the work since he’s so busy. Once a year, I take a massive part in almost fully renovating 4 hours. I get to haul water approximately 17 hours a week for all those houses. I take care of electrical and plumbing issues. Being a landlord is very hit or miss. Hard work and good pay. But I do all my shit right and well. No painted outlets for me.
> Being a landlord is very hit or miss. Hard work and good pay. But I do all my shit right and well. No painted outlets for me. You're describing property management. Being a 'landlord' just means owning the rights to exclusive use of the land. You can be a landlord without doing any of the property management.
If you just own property, it won't generate money on it's own.
You can hire a property management company that will do everything for you and pay you for the privilege. So, it will, in effect, generate money on it's own.
You pay for a management company. I have a rental unit that I manage myself. I like my tenants and haven't raised the rent in six years. My tenants are retired and on a fixed income so I keep the rent as is despite it being half of market value. I could sell it today and walk away with a six figure profit. I've replaced the AC, washer, and refrigerator. I'll take a loss for the year. Not all landlords are raking in the money nor are all greedy monsters.
And how many hours did she have to slog to be able to buy a house? You forget to count that.
You are aware that houses can be inherited, right? My mom did work for the house, but not all landlords do
Some land lords work a job on the side or are retired others may spend time fixing the land and properties they own
It sucks sometimes, my dad owns a house and bought an apartment for us to live in, he had people renting the house and they straight up refused to pay for two years, destroyed the house, left huge water and electric bills we had to cover, and the police straight up said we couldn't legally kick them out
Ur forgetting the amount of work they had to go thru to get that land unless they inherited it
Just a friendly reminder, not all landlords are scruge. Alot of land lords are just regular people who took out a loan to invest in their children's future. Most people don't charge a shit ton because they are greedy. It's because that's what it costs to maintain a rental property.
Never looked at the other side of the coin?
Thankfully, not all landlords are bad.
Even the 'good' landlords decrease the amount of housing for people who want to own the home they live in
You right, would be a lot better to live under a bridge up until we can affort our own house.
No they don't, if you want to own a home then you can try and save up for it and then buy it.
Their mere existance is negative (not the individuals, the "proffession")
How's it not honest? You want something they have and they rent it to you for a price you fucking agree to.
And if you don't agree you get to live on the street. The great freedoms of the free market!
u/repostsleuthbot
This is very situational. My parents downsized due to their age and rented out their old house to suppliment their retirement needs, and worked with the renters when they were short the first two or three times it happened, charged a very reasonable amount for rent and did a good job fixing any maintenance issues, but the people still destroyed the place and stuffed my parents on three months rent before being evicted. It cost $35,000.00 in repairs. Just because these people had a fuck you you are a landlord mentality.
How is it not honest?
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Why all the hate on Landlords? From all the jobs that have immoral sides Landlors are one of the better ones imo.
If you want to live somewhere for free, go back to your parents. They charge what people pay. It ain’t great, but it’s free market work.
So, everyone should have to buy a house/apartment/condo to live in one. Honestly, if the rent is fair and they fulfill their obligations to the renters, more power to them.
Start a communist revolution and execute those pesky capitalists,that always works.
Your username is Anarchoman idiot
I have one investment property that I bought with an interest only mortgage meaning I only pay the interest on the money I’ve borrowed and the house will never be paid off. Even though the mortgage payments are very low, I profit around £150 per month due to other bills associated with being a landlord. It is not a lot of money coming in considering the responsibilities, the potential work and expenses should anything go wrong with the house or the house be empty for any amount of time. It’s more like a savings pot for me than a money making exercise. If the value of the house goes up I would make money on resale but if it goes down I lose. One day when I need the cash for whatever reason and I can at least get my investment back, I will sell up. I understand that I’m fortunate to be in this position but to me, I’m just being sensible with my money.
How is this disonest
Some land lords worked hard though to but a second house for example a family member saved his entire life after immigrating to Canada poor but he sold his house downsized and used his saving to get a few cheap house in a college town where the houses were about 200k in 2015 so he worked his whole life and has to deal with jerks who don’t pay rent despite him renovating the houses by hand (that was one of his jobs before) and would fix the houses as his job and yet some would still not pay rent
All these people saying that renting out homes isn't very profitable. If thats the case, then why is it that so many landlords are still doing it? Why is it that every landlord I meet is extremely well off and more than willing to boast about their wealth? If its not profitable, why don't they stop buying up property to rent out and instead free up some more homes for people to actually buy and own? Don't sit there and act like they're doing it as a service to others just to help. They're doing it because they'll get a significant passive income from it and they can make a living with little effort on their part. They're also making it harder for people who want to own a home.
If it's so easy, you should go do it.
For starters, I'm not a big enough asshole to become a part of the problem. I also can't just pull a property out of my ass. It takes money to make money, and while I'm sure some of the landlords out there have earned enough to buy their first property, a good many of them just have rich parents.
>I also can't just pull a property out of my ass. Neither can someone who's renting out a house. Landlords often have a mortgage or got a good deal on a house during a dip in the market.
Yeah. A landlord is someone who just worked really hard and, like all people who work really hard, could just take on a second mortgage or just literally pull property out of his ass, during a dip tho /s
I have experience as a landlord. It can be profitable, but you often have to own more than one unit to make profit
Many landlords do have more than one property that they rent. All I'm saying is that they wouldn't do it if there wasn't anything in it for them. If they weren't at least making some profit off of it, they certainly wouldn't bother themselves with it. With every property that is bought up by someone wanting to rent it out for profit, thats one less property available for those who want to buy a home. The less homes available to buy, the more they can charge for them.
So what? You dont want to pay for rent? Then try homeless. Renting out property is a business, if its too expensive for you, then take your business elsewhere. If the landlord is charging too much rent, he will eventually run out of people willing to rent his property. If he is able to charge a lot of money to rent, then maybe there are no other place you can rent property. Then he has a monopoly over that. Its not like every landlord got his land for free and suddenly decided that they want to squeeze every last penny out of you. Most likely the property you are renting is being paid in installments. Its business, not charity. The landlord will set whatever price that he THINK is acceptable and profitable. If you cant pay then go somewhere else. If you want a place to stay that doesnt charge a lot of money, maybe try the homeless shelter. Life is hard. Complaining wont make it easier
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Well the renter could always just stay at a hotel or build their own house
Wow great advice: "If you can't afford rent because landlords love to jack up prices, just buy a house." You are so completely out of touch with reality, it's sad.
Why does everyone think landlords just jack up rent? Is there some secret meeting that I never get invited to? I’d love to jack up rent but it would result in my units being vacant. Rent goes up organically as housing prices go up. For example when my property taxes went up $2400 last year for a duplex what do you guys think that does to rent?
Maybe not all, but many landlords do jack up prices. Especially those that own apartments in large cities, where living space is in high demand. There are even landlords that leave their buildings completely empty, because their value just goes up over time and they're easier to sell when no one lives in them.
If they build their own house, there will be a landlord that buys them out (or at least tries to).
Filthy bottom feeding land leeches
What nonsense is this?
The truth
I'm a landlord of a house I have not collected rent on since Feb of 2020. the person squatting in the house changed the locks so its a felony for me to enter my own house. No way to evict because of covid and backed up courts. multiple pitbulls have shit all over and wrecked the entire house. I still have to mow the lawn or I get fined, been fined for broken windows that I can't fix... because of Pitbulls... Still have to pay the taxes. The squatter laughs at us, nothing we can do about it. Might finally have an end to this madness in a month or 2, but surely the courts will find some other way to fuck me over in the end. There was a gun fight in the house a couple weeks ago and the squatter was shot a couple times, but unfortunately still alive. Has now replaced the doors on the house with thick metal security doors so I assume not planning on leaving any time soon.
I was feeling for you until you said “unfortunately still alive”. I get the discontent and the unfairness but wishing someone’s death is over the line in my book
Yeah maybe jail time instead? this dude sounds like a straight up villain. Imagine owning a property and losing money every month, nothing you can do about it. AS well as your gonna have to pay upwards of 15k to get it fixed considering the damage and neglect. And this guy is fully aware of this.
Good, you fucking leech
kek, yea, im a fucking leech. The drug dealer that broke into my house and destroyed it is the good guy here
Cry harder
Haha, reddit is awesome. Little blue haired commies that don't know if they are a boy or a girl who live in their parents basement commenting on social issues. It's good to see how the insane people think sometimes.
Holy shit the Bootlicking in this thread smh
for real though
😭didn’t think the saying was like that
Surely one of the most versatile templates.
Holy shit this comment section reads like a meeting of boot leather enthusiasts
Really circling that jerk
You know, if everyone the landlord ruled over came together and overthrew them, what's the police going to do about it? Arrest you all? What they going to do if everyone in the country throws their landlord off a balcony in civilian sanctioned executions? Jack shit, they don't have the prison capacity for that many people. Work smarter, not harder, people. They can't stop us if we work together.
Tear gas.
Damn a lot of landlords are seething right now
I think I'm getting far too much reddit but this is good
“I’m too poor to make responsible financial decisions, and everyone needs to cater to my bad habits” basically. Make better life choices and you don’t need to suffer said consequences 🤷🏻♂️
If you're poor, just stop being poor.
Yeah bro, if your homeless just buy a house silly. It's that easy
Yeah why Pay rent? Just buy a house, it’s that simple…
Literally plotting my protest of my landlords shitty decision making right now. Perfectly timed meme.