Government Take-Over of Rental Housing

[BrokeLoser]

Regulation on rent only applies to slumlords who tried to charge rip that far exceeds what the value of the property itself would call for.

When you have a run-down building where the owner charged is $1,500 a month for apartments to Arnt worth $400 a month that needs to be regulated.

Buyers determine the worth/value of things...why do you have a problem with that?

 

[Concerned American]

value of the property itself would call for.

That is nonsense. The value of anything is what the market will bear.

 

[Concerned American]

When you have a run-down building where the owner charged is $1,500 a month for apartments to Arnt worth $400 a month that needs to be regulated.

I believe the apartment is worth whatever the highest bidder is willing to pay. If you can't or don't want to pay that price----there's the door. Go find someone who will rent to you for what you want to pay. The world doesn't owe you anything.

 

[lennypartiv]

In other words the Democrats are passing laws to prevent slumlord from screwing over their tenants and the Republicans are mad about it.

Democrats are passing needless legislation that hurts property owners. Redlining was used to prevent banks from losing money but Democrats outlawed it.

 

[Gracie]

Mixed emotions on this.

 

[toobfreak]

Biden's working on it, although the duct tape is an "extra".

I'm much more reasonable. I just want an iron gate, swimming pool and heated Jacuzzi. Ringel can have his moat and draw bridge.

 

[lennypartiv]

I'm much more reasonable. I just want an iron gate, swimming pool and heated Jacuzzi. Ringel can have his moat and draw bridge.

And if Dems get their way and prostitution becomes legal, then being a sugardaddy would be completely legal. That jacuzzi would be a really fun place to be.

 

[FA_Q2]

Regulation on rent only applies to slumlords who tried to charge rip that far exceeds what the value of the property itself would call for.

When you have a run-down building where the owner charged is $1,500 a month for apartments to Arnt worth $400 a month that needs to be regulated.

Except that is not how economics work.

If they are able to charge 1500 a month then that is what the property is worth. If you don't like the value proposition, don't rent the fucking house.

Homes in Seattle go for thousands of dollars a month for a shitty run down <1000 sq foot home. That is a crap value for me so I chose not to live there. 30 minuets away you can get a 2500 sq ft home for less than 2000 a month. A little further out and you are even better off. No one forces you to live in a specific location, you CHOSE that location.

 

[Turtlesoup]

In other words the Democrats are passing laws to prevent slumlord from screwing over their tenants and the Republicans are mad about it.

In otherwords, dems are pushing people out of the rental business which will create a shortage of housing.

 

[Osiris-ODS]

Regulation on rent only applies to slumlords who tried to charge rip that far exceeds what the value of the property itself would call for.

When you have a run-down building where the owner charged is $1,500 a month for apartments to Arnt worth $400 a month that needs to be regulated.

The market would take care of stupidity like that itself. When someone charges 4x more for an elastic product than it is worth, consumers reject that product and choose a more aptly priced competitor. In your stupid example, the landlord would have no tenants and would lose the property to foreclosure unless he/she had plenty of money to throw away on a vacant rental property.

 

[Dekster]

Huh? Somewhere in that tiny brain of yours you feel vacancies get premium sales prices.

Lot of landlords getting out of the market. The want to sell to people who will occupy the property. Try to know people other than cats.

 

[Osiris-ODS]

Lot of landlords getting out of the market. The want to sell to people who will occupy the property. Try to know people other than cats.

If landlords are "getting out of the market" by selling residential properties, it's because it's currently a seller's market with inflated property values. Thus, they're getting a better return on the investment property by selling it than by holding and renting. Enterprising investors will get back into the rental market on the other side of the bubble when they can pick up residential properties at much lower prices. That's the way the market works.

Has nothing to do with some feel-good desire to sell to people who want to make it their home. Lol. Altruism is not a factor in investments.

 

[Concerned American]

Has nothing to do with some feel-good desire to sell to people who want to make it their home.

Bingo. It has more to do with "eviction moratoriums" and deadbeat renters who used it as an excuse to not pay their rent. I don't blame the landlords at all.

 

[WEATHER53]

CDC overreach moving further along.
This is Democrat ploy to appeal to their deadbeat constituents.
When did government get the authority to define or redefine Health. I just don’t see Health referenced in any of our binding National documents.

 

[Ray From Cleveland]

Lot of landlords getting out of the market. The want to sell to people who will occupy the property. Try to know people other than cats.

I would say it's just the opposite, especially in desired neighborhoods. The last time I advertised was about six years ago in the middle of winter where I get very few replies. I came to my email the next day with at least a dozen, some even saying they will take the apartment sight unseen. Others offered me a double security deposit, and two people offered to pay more rent than I was asking for. In the 25 years I've been doing this, I never seen anything like it before. You would have thought I was offering beach side property in California for $400.00 a month.

When I selected my tenants, they thanked me profusely. They were on the search for an apartment for seven months. They said there were landlords that were charging 30% more than I was asking, getting half as much, and they still couldn't get the place.

After doing some research, I learned it was a trend across the country. The housing collapse played a part, but a larger part was younger people don't want to deal with home ownership any longer. They don't want to deal with a leaky roof, a defective hot water tank, taking care of the grass during the summer and driveway full of snow in the winter. If they do have a problem, they just want to make one phone call and problem solved.

As more and more of our younger people attend college and become less industrious, I don't see this reversing anytime soon. If anything, it will only grow worse for renters.

 

[Ray From Cleveland]

Really, I've never seen a serious attempt to do that.

But then again Republicans tend to take everything to the extreme.
Regulation of housing means abolishing all private property
Requiring background checks for gun sales is consider the same as banning all guns.

Everything always has to be painted in the most extreme manner possible

You don't think this is extreme? Look, we landlords didn't buy rental property as some sort of social obligation, we bought rental property for a long-term investment that will hopefully net us some profit along the way.

If you agree with price control, then what if government says you can only make X percent on your IRA? How about X percent on your home you want to sell? X percent on your coin collection?

It's not any governments place to put a limit on what you are allowed to make on your investments. It's your money, your investment, and as such, you should make as much on your investment as you possibly can.

 

[Concerned American]

If you agree with price control, then what if government says you can only make X percent on your IRA? How about X percent on your home you want to sell? X percent on your coin collection?

Better example would be a maximum wage instead of the minimum. That would get their attention. I propose a maximum wage of X.

 

[Ray From Cleveland]

Well, they may need more section 8 housing.

Which is what Dementia wants to do, except he wants to put such housing in nice safe middle-class neighborhoods to destroy them.

 

[Ray From Cleveland]

Good grief man, you want guns to be a fundamental right but not food, a place to live, and basic healthcare?

If you want food,healthcare and shelter to be a right like guns, you need to amend the US Constitution. Until that time out of the four, only guns are a protected right.

 

[Concerned American]

Which is what Dementia wants to do, except he wants to put such housing in nice safe middle-class neighborhoods to destroy them.

I predict that we will see massive public housing projects like they have in Chicago and New York because we have seen what huge successes those have been.