America Should Become a Nation of Renters

[GURPS]

As institutional investors increasingly enter the housing market, however, the incentives begin to shift. Large investors can expand or redevelop their properties themselves, because they benefit from a greater number of overall tenants, even if rents themselves dip.

Meanwhile, the increased availability of rental properties could benefit homeowners in declining areas of the country. They frequently cannot move to more prosperous areas because they can’t sell their homes for nearly enough to buy a new place somewhere else. In an economy with more rentals, however, they could afford to try a new place for a few years without the commitment of a mortgage or down payment.

A nation of renters could lead to a world where location decisions are driven far more by personal preferences and life-cycle demands. Younger workers might prefer the excitement of the city. A couple just starting a family could reunite with their parents or siblings in a small town.

America Should Become a Nation of Renters

The very features that made houses an affordable and stable investment are coming to an end.

www.bloomberg.com

 

[vraiblonde]

What a fascist.

But what struck me is when the "no more for you unless you pay" thing popped up.

$415 a year to get their news.

It's getting to the point that we won't get any news unless we pay some ridiculous fee for it. The Left gets more like North Korea every day.

 

[herb749]

You can't read a linked newspaper story without paying, even if the person who linked it already payed.

 

[PeoplesElbow]

What a fascist.

But what struck me is when the "no more for you unless you pay" thing popped up.

View attachment 157668

$415 a year to get their news.

It's getting to the point that we won't get any news unless we pay some ridiculous fee for it. The Left gets more like North Korea every day.

Failed whimsical presidential campaigns are expensive.

 

[Sneakers]

You can try to turn on Reader View (F9 in FireFox). It displays the article in text only, no pictures, no pop-up for money.

 

[Monello]

I get calls and text every week about people wanting to buy my rental properties. These groups are aggressively buying up all the properties they can get their hands on. Of course they low ball you in price. Cash buyers often offer 70% of asking price. Because is the seller agrees, it's a done deal. And that's actually a smart move on their part. Sure a lot of sellers are going to get offended but eventually someone will agree to their terms.

 

[Sneakers]

Because is the seller agrees, it's a done deal. And that's actually a smart move on their part.

No worrying about inspections, outdated/non-working stuff, minimal paperwork... For someone who just wants out, a quick sale at 70% is a relief. Also for family members who are liquidating an estate that no one wants to deal with. I've entertained the idea for when it comes time to move, depending on circumstances.

 

[SamSpade]

I've never been crazy about the idea that you pay for the right to live somewhere, and live at the whim of a landlord, who may pay zero interest in your failing roof, plumbing or electric. And that there are few constraints sometimes to how much they can raise your rent, or even evict you.

Buying a home isn't actually much of an investment - but paying for a home, the cost each month is usually comparable to the cost of renting. So in that sense, it becomes an investment when you sell, because it's money you would have otherwise thrown down a rent hole.

 

[GURPS]

... but paying for a home, the cost each month is usually comparable to the cost of renting.

I think that is going to change going forward ... with VC snapping up homes over the asking prices ... pushing up the market