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1
Posted on 6/10/21 at 6:24 pm to LookSquirrel
quote:
So, as you see it, is this a good thing for middle class Americans in the long haul?
Don't have much of an opinion on that, will give some examples
Inner city Memphis has one of the highest rental rates of any city, a lot of those renters can't afford or don't have credit to buy
Post financial crisis - several thousands of home owners and developers went bankrupt...investors stepped in and bought the properties and rented them (would guess to people who went bankrupt)
As far as more recently. I sold a home to a fund, it was one I was renting out..don't think it has an impact on the neighborhood
For vast neighborhood sales, that is probably more unique than the norm
Posted on 6/10/21 at 6:31 pm to hubreb
You seem to be shooting straight, so thanks for your input.
Posted on 6/10/21 at 6:49 pm to hubreb
All the HOA’s need to make sure their contracts have “no rental” clauses.
Posted on 6/10/21 at 6:55 pm to Tiger Skip
quote:You mean like people that demand "free" college tuition, student loan "forgiveness", and "free" healthcare?
Conservatives are so individualist and selfish.
Posted on 6/10/21 at 6:58 pm to TigerDog83
quote:
Zero percent interest causes people to reach for yields and go into riskier and riskier assets. Malinvestment is the result followed by major corrections or busts. Fed has to quit manipulating interest so low but now they’re trapped as even normal interest rates may cause the government to come clean that it can’t service its debts.
Nailed it.
Posted on 6/10/21 at 7:07 pm to LookSquirrel
We’ve returned to feudalism. With more intense spying and intrusion.
I’ve said it before and I’ll say it again. The one thing Orwell got wrong, was that our transition to Oceania was voluntary.
I’ve said it before and I’ll say it again. The one thing Orwell got wrong, was that our transition to Oceania was voluntary.
Posted on 6/10/21 at 8:08 pm to Taxing Authority
I have been waiting to use this quote concerning our collective debt, which right now is $64,000 for every man woman and child of US citizenship and fiat currency;
"Money is little more than a cartoon in the brain that we are addicted to watching"
"Money is little more than a cartoon in the brain that we are addicted to watching"
Posted on 6/10/21 at 8:21 pm to LookSquirrel
quote:Yeah. I once had hope we'd pull out of it, but it's too late. It's only a question of when. Simple math.
I have been waiting to use this quote concerning our collective debt, which right now is $64,000 for every man woman and child of US citizenship and fiat currency;
Fun thought experiment. Have a look at a 1% increase in borrowing costs does to the federal budget.
Posted on 6/10/21 at 8:24 pm to chalmetteowl
Yeah dude. Cause people are gonna pay top dollar to rent a fricking house in chalmette.
Posted on 6/10/21 at 8:29 pm to Big Scrub TX
quote:
I mean - this has been a thing since 2009.
At 20-50% above market rates?
Posted on 6/10/21 at 8:56 pm to LookSquirrel
quote:
because for the lower and middle class owning a home is the most major part of any financial success, and future upward mobility.
Everything else I agree with except for this.
Posted on 6/10/21 at 9:01 pm to LookSquirrel
Renters are typically the dregs of society, seems fitting with the lefts voter base.
Posted on 6/11/21 at 12:27 am to Azkiger
quote:
At 20-50% above market rates?
Several things:
I've read both articles and I don't see anything that provides any reporting or proof on "50% above market".
The one article mentions a package trading 20% over list price. Yeah, so what. Have you read the news? Homes all over the country are trading above list. It has no meaning to call that "above market rates".
Finally: the "market rate" is the price at which a buyer and a seller agree to transact. That is to say these homes transacted EXACTLY at the market rate.
This stupid thread is stupid here just like over on the OT. These firms have been investing their capital in SFR since at least the crisis back in 2009. It's been in the news for years.
And BTW - the money for this comes largely from pension funds. That's right - gasp - middle class workers' retirements are investing in income-producing real estate!
I just can't believe Biden's America has come to this!
Posted on 6/11/21 at 5:28 am to LookSquirrel
quote:This is all new to me but around here, folks with rental properties pay real estate firms to manage the properties, collect rentals (when over due) and arrange repairs when needed. The property owner pays the real estate firm a fee that is fairly reasonable. I think the biggest advantage to this model is the real estate firm has the where with all to screen the renters.
But, wait. They say they are turning them into SFR (s), Single Family Rentals. So, who would manage that?
Posted on 6/11/21 at 6:30 am to Big Scrub TX
quote:
And BTW - the money for this comes largely from pension funds. That's right - gasp - middle class workers' retirements are investing in income-producing real estate!
That's actually the problem.
Prices will eventually drop, lumber isn't going to stay at 1400 a thousand board feet once the federal government end their covid welfare programs and US lumber mills get their workers back.
Prices will drop once the fed starts bumping up interest rates, which they're already talking about doing.
This will turn into another too big to fail bubble that the average tax payer will be expected to eat. Worse, the money used in the first place was created by the tax payer.
Posted on 6/11/21 at 8:14 am to sleepytime
quote:
All the HOA’s need to make sure their contracts have “no rental” clauses.
According to Ginger Berrigan you can’t do that
Posted on 6/11/21 at 8:39 am to LookSquirrel
Instead of waiting for local govt entities to approve high density housing/apts in suburbs, they will just buy the homes in area and give them to illegals and BLM lovers in order to destroy suburbia.
Posted on 6/11/21 at 9:22 am to LookSquirrel
I mean this sucks and all but is something stopping people from building houses?
Posted on 6/11/21 at 9:31 am to Tiguar
quote:
I mean this sucks and all but is something stopping people from building houses?
Have you seen lumbar prices? Brick prices? Shingles? Even paint is going up.
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