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Old 04-23-2018, 02:25 PM
 
8,374 posts, read 7,362,552 times
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Biggest reason they are not building starter homes, is simple to understand.

Lot prices, plus government fees per house, plus cost to bring in utilities to the lot, are now exceeding the point in most areas of the country that makes it possible to build starter homes.
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Old 04-24-2018, 08:26 AM
 
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In some markets, the firms own as much as 20 percent of the rentals.

https://www.seattletimes.com/busines...s-for-rentals/

Also, taking the supply off the market in a severe downturn forces developers of entry-level homes to go much farther for cheap land. Younger workers are looking for homes closer in to the city.
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Old 04-24-2018, 01:43 PM
 
Location: Paranoid State
12,662 posts, read 9,420,097 times
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Quote:
Originally Posted by damba View Post
Out of curiosity, where are your extra expenses as a landlord coming from? Are there some additional regular special assessments or sky high insurance premiums/local fees involved with your rental property?
Don't forget depreciation expense. If you have a new roof with an expected lifespan of 20 years, each year you need to be accruing for about 1/20th of the estimated replacement cost 20 years from now. Ditto for all the other major house systems: windows, appliances, water heater, HVAC, etc.
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Old 06-19-2018, 09:56 AM
 
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High level of re-defaults in mortgage modifications

https://www.advisorperspectives.com/...ousing-markets

The foreclosures may finally enter the market in a few more years under the 3 strikes rule.
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Old 06-19-2018, 10:05 AM
 
1,046 posts, read 711,743 times
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Quote:
Originally Posted by lchoro View Post
High level of re-defaults in mortgage modifications

https://www.advisorperspectives.com/...ousing-markets

The foreclosures may finally enter the market in a few more years under the 3 strikes rule.
Put this on the real estate forum and watch the lenders and realtors all deny, deny, deny.
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Old 06-19-2018, 10:22 AM
 
494 posts, read 226,331 times
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This is a bigger problem than one realizes. Especially for Retirees, but it affects everyone. To cut a long story short, people with limited means will flock to Low COL areas where homes are cheaper, either when they retire or because they cannot afford to live elsewhere. These end up becoming predominantly lower income/means areas, a lot are controlled by republican governments who do not like to put a lot into infrastructure. This results in concentrations of lower means folk in larger and larger Low COL areas, more slums develop and more crime because people have to eat.

People with means see this and move out to higher costs of living areas with more services than makes their lives better. Then it becomes a vicious circle. Low COL areas do not take in enough taxes (Real Estate for example) because their governments are always trying to reduce them for the better off citizens. This does nothing for the lower means folks as they pay little taxes anyway. When a government does not have enough tax revenue, EVERYTHING suffers, Schools, infrastructure, essential services, healthcare and the list goes on.

From a Tax perspective it pays to live in a higher tax area as the amenities are far better, the communities look better and cleaner, and the standard of living is much higher. That is what we choose to do.

This increases the Rich/poor gap exponentially and some cities/towns will end up with such a bad rap that nobody with means will want to live there.

If there were more investment in lower income housing it would stem the degradation of a give area. It does not help the infrastructure issue, but it is a start. at least people can afford a place to sleep.

People should start to realize that Taxes is not a dirty word. Taxes pay for all the things we need as a community to be safe, and enhance our standard of living. You do not see the Rich living or investing in those Low COL communities, even though they are the recipients of 98% of the so called tax cut.

Check out the Taxes in Palm Beach NY, SFO, Seattle, Houston, Austin, San Diego and other desirable places to live.
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Old 06-19-2018, 12:29 PM
 
3,526 posts, read 1,985,593 times
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Housing shortages are happening due to population growth outpacing economic growth. GDP may be rising in absolute $ but when you take out inflation (real gdp) then divide by person you will see a starkly different trend. Real wealth (Real GDP $ per capita) is on the decline in America.

We have used debt to propagate it up but once that collapse so will the GDP figure.
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Old 06-19-2018, 12:53 PM
 
Location: The Triad (NC)
26,828 posts, read 57,830,396 times
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Quote:
Originally Posted by SWFL_Native View Post
Housing shortages are happening due to population growth...
...and those shortages are most acute in the areas where too many want to live
(whether they can afford to be there or not)

If we do something constructive about the raw number of people problem over the next few decades
we'll have a steadily declining need for additional bedrooms. Making additional bedrooms in the
face of that will prove a financial and economic error.

Much better to find some other short term remedy to the short term problem.
Any ideas?
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Old 06-19-2018, 01:45 PM
 
4,542 posts, read 11,542,319 times
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Quote:
Originally Posted by Sharpydove View Post
Put this on the real estate forum and watch the lenders and realtors all deny, deny, deny.
That's because in my market it is NOT TRUE.
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Old 06-19-2018, 02:46 PM
 
1,046 posts, read 711,743 times
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Quote:
Originally Posted by TimtheGuy View Post
That's because in my market it is NOT TRUE.
Yes, Iíve watched you shoot down poster after poster who dares to say anything but rainbows and sunshine in real estate! Sorry, but people are waking up to the truth.
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