So you are saying you think this is the only factor involved in housing market valuation?
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Options for Struggling Landlords Whose Tenants Can’t Pay the Rent
- Thread starter Gwenpoolshark
- Start date
So you are saying you think this is the only factor involved in housing market valuation?
So what? People should just hope retirement works out magically if they just sit around?
I was going to respond to your strawman with one of my own, but why bother?
I agree. I don't like owning. I want to pay someone to take care of the place and fix stuff when it breaks. Also, if I end up wanting to move I can do that without the trouble of selling. To me, landlords provide a valuable service. I wouldn't expect them to provide that service for free but also people shouldn't get kicked out due to the pandemic. This is the exact thing the government should step in and help with.
Landlords that raise rates every year suck though.
And I got to say, on some level I get it, if I somehow managed to escape the grind and found myself making a living without having to actually go work job, I would like it very much, and I would be very concerned about the possibility of losing it and having to go back to the grind.
But I don't think we should organize society based on much I hate my job.
Because you know I'm right. Zoning laws exist and create challenges that need to be solved (such as land for 20+ homes or one building with 20 units). This isn't the solution EVERYWHERE, but it's clear that there is value in having apartment compexes in some cases.
Where I'm at. I don't think landlords are scum/parasites or w/e—and I myself am considering owning investment property in the near future—but I also don't have much sympathy for their struggle. They made an investment, and investments carry risk.
You aren't providing any commentary outside magical changes that don't exist. How should people realistically save for retirement that is ethical and right by their peers? Excelsiorf was right with these rage takes.
I never suggested that apartment complexes should never exist. I just don't think they should be operated for profit.
But property values/taxes go up every year though, thus rent usually goes up proportionally.
The pandemic is shit for every for sure. I would hope landlords would be more lenient right now and allow maybe a couple months rent to slide if they're able to. But what happens when that 2 months turns in 4 or more? Now said landlord could be in real trouble of not being able to pay their own bills. I think it'll be real hard to find a person who would put their tenant's financial well being over their own families.
There are really only 2 solutions in that scenario: The landlord kicks the current tenant out for not paying and begins looking for someone else who will, or the landlord sells the property all together, in which case the tenant will still have to leave and the property would be scooped up in a flash by a much larger conglomerate. There's no winning for the tenant in either of these scenarios unfortunately.
One would think this isn't that hard to understand; the article clearly focuses on the solutions that are least the harmful to tenants; but of course, the second Era sees "landlords" in an article's title, it gets bloodshot eyes and starts frothing at the mouth. Scratch a little under the knee-jerk performative leftism and there's none of actual concern for either of the involved parties; all the thought and care that people have put into the situation is revealed when they tell landlords to "just sell" all their properties and leave tenants in the wind.
I would have said "invest in the stock market," but even that makes you capitalist scum by Era's standards.
A part of your taxes goes into your retirement fund automatically which then gets payed out similar to UBI once you retire.
Saving + adding more funds would be optional..
..like in most social democratic countries (i assume).
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Orange envelope - annual statement for your national public pension | Pensionsmyndigheten
English - Engelska | Pensionsmyndigheten
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My god lol. I guess my sister and her new husband are scum. I don't was recently talking to her and was thinking of possibly getting my own house which probably would've been a 2 family. Did not know if become evil if I did.
That takes more financial savvy than a lot of people have though.
Damn. People going off in here.
Owning property should be considered a huge risk. Just like owning a business. I don't think landlords deserve more help than their tenants.
That said. Why is it so hard for Era not to deal in absolutes? Some people look like total lunatics in here.
Owning property should be considered a huge risk. Just like owning a business. I don't think landlords deserve more help than their tenants.
That said. Why is it so hard for Era not to deal in absolutes? Some people look like total lunatics in here.
Strangely enough, it's the other way around for me. Investing in the stock market (which is really as simple as just buying and riding the S&P500) is a lot more simple and approachable than investing in real estate, in my eyes.
But having a 401k already qualifies you. Mostly a set it and forget it method. But stock market is still working for you.
I'm all for the government giving more help to landlords and tenets. I have no problem with either. I don't like landlords but I don't want to see them homeless either.
And sometimes, some of us have been fighting landlords for the last few months trying to keep people in homes. I've seen tons of underhanded tactics they use to try and kick people out. As I said, I don't think all landlords are like this nor do I want them to lose their homes.
Ultimately, yes. If they can't afford the mortgage without someone else paying rent, they are arguably living beyond their means.
People see landlords as parasites because the money going towards paying rent would ideally have been going toward that person's own mortgage instead of paying for someone else's; but those people are unable to build up the collateral to get one… because of high rent prices.
I think it's overly simplistic to say that all landlords are evil though.
A lot of it is a symptom of bigger problems; like how bad the job and housing markets are these days, and a lack of government-provided housing. It's definitely wrong to assume that all landlords are doing well financially.
Part of the reason the housing market is as bad as it is, is because of those landlord millionaires and corporations with huge portfolios of properties, but that's different from the people like your parents where becoming a landlord like that may have been the only way for them to ever have a chance of owning property.
And the absolute worst is landlords that have kicked out long-term tenants in favor of short-term rentals like Airbnb because it's more profitable. That's done huge damage to the housing/rental markets in a very short amount of time.
You have it backwards though. It has to happen the other way around.
There needs to be government-provided housing first.
You aren't thinking of what would realistically happen if individual landlords that are struggling to cover the costs of a single property - which they may even be living in - sell that property to already-rich landlords and giant companies with massive portfolios.
It would almost certainly end up making the problems for renters worse, and only fucks over more people that were struggling to get by - yes, even though they were landlords themselves.
I understand the anger towards landlords - ideally they would not exist. But your takes are overly simplified and don't consider the consequences of the actions you suggest.
My old landlord needed to sell their flat after some money problems, so I bought it off them
It meant the total amount I spent every month on living on that property went down from £650 to £400, and I could sell it if I ever need to move.
I wish they had decided to stop leaving me in the wind a lot earlier to be honest.
Don't hate the player, hate the game, except those players that complain about the game, then it's fine to hate them too.
Is there literally anyone saying landlords deserve more help than their tenants, though? Even the article focuses on landlords helping their tenants.
Yeah, the level of discourse in this thread is completely shit here even for Era standards.
According to Era, even owning the second house is immoral, so they are gross supervillain-tier subhuman scum until the second they sell the second house and keep the money, then they're wonderfully fine people.
I suppose it strongly depends on the area, but a lot of people are buying. Real estate sales are up in many areas. December saw record sales in a lot of cities. Why? Because interest rates are so low and property prices have seen drops. Prices have dropped because the pandemic is forcing people to sell so the amount inventory is high. There is a lot of property being sold. It's an excellent time to buy for those who can scrounge up a down payment. Most of these sales are first time home owners.
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Exactly.
I think the only times I really touched my 401k so far was when I set my investments early and then again after the market took a dump in March.
Funnily enough as other mentioned I moved a lot into funds that track the S&P500 and just left it alone ever since.
What's the concern for the morality of landlords coming from? Landlords are part of an abusive, exploitative system. Whether you're the cutest mom-and-pop couple or a greedy bastard who wants to exploit poor folks. The end result is the same, which is why landlords get the scorn.
To reduce systemic issues to personal anecdotes in order to gain favour for the individuals (to then lead to gaining favour for the system) is something I don't care for.
So basically "worked out fine for me, fuck everyone that can't afford to buy". Nice anecdote bro.
(also begs the question why you didn't buy any other house to begin with, if you could afford it).
Seems like the author of the article has mostly written articles providing advice for tenants, as well as focuses on the rental aspect of real estate. This is one article that gives advice to readers who rent out properties they own, God forbid she writes about the other perspective. Also, it's not like this is the front page story on the NYT, someone wrote her a question and she provided advice in an few paragraphs.
Profit by exploitation is inherently evil is it not?
Everyone needs shelter. It is a fundamental human right. In the top three after food and water i'd place it.
Or at least it should be. Taxes payed by everyone goes into a government fund that ensures everyone have access to housing, water and food (via UBI).
Then surplus goes to healthcare, education, dental, infrastructure and so on..
Privatisation (and by definition privately owned housing) further emboldens the rich and exploits everyone else.
You know, capitalism working as intended.
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Man seeing people being cool with exploiting others (and feeling justified) for own personal gain is depressing. The gloating is really bizarre.
Landlords are largely unnecessary. They are like middle managers. They fill a need because the need exists on a structural level, not because they are irreplaceable parts of society. Consider, you could not have a city of 100% landlords but you could have a city of 100% tenants or 100% people with equity in their homes.
By "landlord" here I'm referring to individuals or businesses owning more properties than they reside in, not hypothetical govt owned properties. The difference is where you think tax goes. If you consider tax just state-owned economic rent, then yeah they're the same, if you consider it as a common risk pool for society, they are not the same.
By "landlord" here I'm referring to individuals or businesses owning more properties than they reside in, not hypothetical govt owned properties. The difference is where you think tax goes. If you consider tax just state-owned economic rent, then yeah they're the same, if you consider it as a common risk pool for society, they are not the same.
Definetly a good time to invest in real estate! And to make long term debt at fixd interest.
Ah yes, its the anti-landlord people in here that are going off anecdotes
The point was more that the landlord's existence in this example provided literally nothing, and costs the tenant £250 a month for it.
And I was looking for a house, then the one I was already living in went on the market - I had no control over this happening and am not sure why that is begs any questions. Although if you want to give tenants the legal power to buy their property against the landlord's will then that would be pretty cool I guess.
I cannot into stonks.
We don't have that.
Yea because I def take my financial advice from a hobby video game forum lol
I agree and usually that is the case during an economic downturn. However, at the same time, the argument is that more people have way less disposable income to spend. People with more proportional wealth can buy during an economic downturn. So it is more likely for wealthier people to buy up whatever properties that's being sold. So it leads to more wealth concentration.
You live in the US and stocks aren't available to you? Even with investments like a 401k you can still open accounts separate from your place of employment.
I'm positive that I'm probably missing something important here.
I was a landlord for several years when my ex and I moved across the country to live with her parents for a few years. There wasn't time, nor did we have the funds needed, to sell our house before we moved, so we opted to rent it out and try to just make enough to cover the mortgage.
So fuck me, I guess. I was real glad to get out of that place once we could sell it though, because we sure as shit weren't making money on it, and in fact lost money a bunch of times making repairs or dealing with lost rent when people just kinda...didn't pay. Wasn't a great situation to be in at all.
So fuck me, I guess. I was real glad to get out of that place once we could sell it though, because we sure as shit weren't making money on it, and in fact lost money a bunch of times making repairs or dealing with lost rent when people just kinda...didn't pay. Wasn't a great situation to be in at all.
They probably work in finance, there are regulations around investing/trading as someone in, say, banking or hedge funds.
No, judging by the responses in this thread, on Era everybody rents from hellish ghouls that deserve no human empathy. Everyone deserves to have their property fail during the pandemic.
Jesus people, you can have empathy for both at the same time: renters who can't pay their rents and landlords that can't afford their property anymore. Empathy towards people struggling in the pandemic doesn't require anything from you or them.
mind you, I haven't read the article yet, I was just responding to this post.