Nothing stopping you from doing the same.
It's called investment. Growing Wealth. Saving for your future.
Try it.
Ooh baby! Who looked at their IRA/401K performance for 2020?
- Thread starter vraiblonde
- Start date
Nothing stopping you from doing the same.
It's called investment. Growing Wealth. Saving for your future.
Try it.
[ fuk spell much Sapidus ]
Where the hell do you get your misinformation ....
my grand parents owned the house my great grand parents helped them build in 1916 until my grand mother's passing in the late 90s ... OVER 80 YEARS .. and this was a small town in Central PA ...
my mother bought her house in 1988 ... why should she be selling her house now that it is paid off
You selfish somebody!
At least thirty homeless crack-addicts could be sheltered there.
Shame! Shame!
No not just progressives, many people in congress on both sides of the aisle believe this B.S.
Retirement planning in our country is, without a pension you are on your own. Part of that planning is diversification, by not having all of your eggs in one basket, you are more likely not to run out of money before you check out.
Some of the items to diversify with are.
1. Stocks
2. Bonds
3. Cash
4. Real estate including both commercial and residential.
5. Collectibles
6. Commodities
Having a house to rent out is a great way to have both income AND asset appreciation, but now it is coming under attack by these morons who blame people doing the correct thing to fund their retirement needs.
The whole trick to successfully fund your retirement needs is to have your assets throw off enough income so that you never have to sell assets to fund it. Rental housing is a GREAT way to start in my opinion.
Except Democratic Economic Policies - Spending and Unchecked Mass Illegal Immigration - has dried up the available housing
In the UK 1.3 million migrants every year - 435k leaning Britain .... they can only build 200k new homes every year ....
OK, Fact Check here .... well not really, but 2 points
During Covid I heard 2 things
1. Most Rentals are owned buy large property owners [ looks like apartments not houses ]
2. Blackrock and other VC were competing to BUY UP as much available housing to create huge swaths of real estate ownership
- as there was going to be a huge push in the future to lock Americans into 15 min cities
[ when I say competing Blackrock could afford to pay over market value to get the sale pricing out the competition ]
Leading apartment owners in the United States in 2023, by units owned
Single-Family Home Rentals And The Rise Of Large Landlords
The Rising Institutional Landlord
For regulators, the institutions represent a new layer of oversight challenge. Factors such as securitized borrowing and high-speed online buying combine with bulk sales from both government-sponsored entities led by Fannie Mae and, just recently, national homebuilders with surplus housing inventory, to further stack the deck against the already underdogged first-time homebuyer.North Carolina's Charlotte Observer detailed one case in which an institutional buyer paid a 12% premium to the seller's asking price — tough to compete with for most working-class home shoppers, and hard to refuse even for community-minded sellers.
These sorts of questions prompted the House Financial Services' Oversight & Investigations committee to hold a June 28 hearing titled "Where Have All the Houses Gone? Private Equity, Single Family Rentals and America's Neighborhoods."
Individuals, and individual investors who own one to four properties, make up the bulk of America's homeowners. The national homeownership rate, or the proportion of homes that are owner-occupied, stood at 65.8% in the second quarter of 2022, according to Census Bureau data. That's down from 67.9% in Q2 2020, which was the highest level since the third quarter of 2008.
Before 2008, investors with five or more properties owned about 10 million single-family rental homes, according to information presented in the House report. That was a bit less than 8% of the 129.64 million single-family homes late in 2007, based on Census Bureau data. Until 2011, no single investor in the country owned more than 10,000 properties, the House committee reported.
Large Buyers Take Advantage Of Crises
By the end of 2021, Tricon Residential owned 29,000 single-family home rentals, primarily in the U.S. Sunbelt. That was up from about 11,860 units in 2018. Invitation reported owning 80,000 homes in 16 markets, largely unchanged since the end of 2018. American Homes for Rent owned 57,024 properties in 22 states, up from 52,552 in its December 2018 filing.While the overall number of homes owned in some cases may not change a great deal, that masks the fact that homes are constantly being sold off in securitized packages. Those securities, backed by single-family home rental properties, generate the capital used to buy additional homes.
Corporate ownership of single-family home rentals rose 3% a year starting in 2010, the House Committee said in its June hearing. Over the past decade, purchases by buyers owning five or more properties ranged from 15% to 17% of total single-family home sales, according to market research firm CoreLogic. Since 2017, such investors have purchased about 1.1 million homes each year.
Large investor purchases rose dramatically after the start of the pandemic. Buying by owners of five or more properties reached 24% of all single-family houses sold nationwide last year, CoreLogic data showed. The purchases peaked in February 2022, spiking to 28% of total single-family purchases. That was the highest monthly share since 2011, in the buying frenzy that followed the housing meltdown of the Great Recession.
In March, the Federal Reserve launched its monetary tightening program, aimed at bringing down inflation. It ramped its rate hikes higher in May through September. That has driven mortgage rates higher, with a 30-year fixed-rate loan now near 7%, more than double the year-ago levels.
I am selfish! Four-bedroom home and I live alone. Just think of how many tents could fit on the 2 acres. That right there could generate some more income. Right!?!You selfish somebody!
At least thirty homeless crack-addicts could be sheltered there.
Shame! Shame!
Ewww. No.
Chopticon64
Well-Known Member
First, I was not the one that said housing was unaffordable, that was here:
forums.somd.com
I just said that there are many more homes for rent than there ever was in the past. GURPS shared interesting information that large companies are buying up homes and forcing people to rent. My only point was that the pool of homes for sale is shrinking while the pool of homes for rent is increasing.
When a young family has an opportunity to BUY a home they get to lock in a stable monthly payment, they feel more connected to their home and will invest in upkeep and becoming active members in their neighborhood, they also get to build equity in their home.
If someone has to rent a home that renter is deprived of those benefits while their rent increases yearly.
Ooh baby! Who looked at their IRA/401K performance for 2020?
All soon to crater under Biden https://finance.yahoo.com/news/stock-market-today-asian-shares-072224540.html Another record high baby! 🍦
forums.somd.com
I just said that there are many more homes for rent than there ever was in the past. GURPS shared interesting information that large companies are buying up homes and forcing people to rent. My only point was that the pool of homes for sale is shrinking while the pool of homes for rent is increasing.
When a young family has an opportunity to BUY a home they get to lock in a stable monthly payment, they feel more connected to their home and will invest in upkeep and becoming active members in their neighborhood, they also get to build equity in their home.
If someone has to rent a home that renter is deprived of those benefits while their rent increases yearly.
Grumpy
Well-Known Member
Back in the day, I had a roach coach biz. One of the building projects I served was a huge 150 acre plot for apartment buildings. The contractor in charge of this project was out of Texas and brought a ton of latinos up to do the building. This plot had an old small farmhouse that was converted to a living space for the latinos. At last count that I saw, they had 40 latinos there, the inside looked like the sleeping berths on a sub, bunks stacked 4 high throughout the house. FWIW, never had a issue with any of them, all were decent guys.
Chopticon64
Well-Known Member
All of those items you listed allow for asset appreciation where multiple parties benefit, except #4, residential real estate.
Money from owning a residential rental comes off the back of hard working families, sure it’s a way for you to make a buck, but don't delude yourself about what it costs society.
I don't care what you think about how I diversify. My retirement is my retirement, and I will do what is necessary.
I built other peoples houses for years, maybe you should put your money where your mouth is, but then again nobody wants money covered in crap!
OccamsRazor
Well-Known Member
Lets not forget that the vast majority of those who rent do so for 2 reasons. The first being that they are NOT financially viable to make a home purchase. The second being that they do not plan to permanently reside in the area thus, renting is the only option. NEITHER of which are deprivation caused by outside sources which you are inferring.
Chopticon64
Well-Known Member
Obviously this is touching a nerve, but I stand by my post.
Would you feel comfortable if most of your neighborhood transitioned to rentals? When you were building “other peoples houses for years” was that for them to rent or own?
I agree that there is a need for rental homes, for people who have short term commitments to an area or want some flexibility. But I think a lot of people have convinced themselves that owning rental property is an honorable thing, when actually it’s the opposite.
Not touching a nerve at all, I learned that you do what you have to do, despite what others think, a long, long time ago! You are just another moron on the list.
Some years back I read of a house raided in Fairfax that has a large group Hispanics living like this, sending most of their paychecks back home
We're planning on renting out our new home when its finished. Probably rent for around $3000/month. That's a dishonorable thing?
you are a greedy capitalist
you should sell your house to a deserving Millennial Socialist
I'll get right on that. Thanks.