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High rents serve multiple purposes. Obviously they line the pockets of landlords today, but they ensure windfall profit down the road at time of sale, plus by impoverishing renters, landlords ensure a long-term captive market of rent serfs unable to escape the rental market.
Americans choose to live in a Capitalist society, and with that they demand the right to own property that is purchased at a fair market value.
Landlords chose to buy property that includes an investment value. They take their valuable asset and make it available for use at a fair market price for their market. It is their business. They are not out to hurt anyone. They are supporting themselves and their families with the resources their life's work has provided them.
Renters have made the choice to live in their location, and some locations have a higher market value than others. If the fair market rents are beyond their reach, they should make different choices, not attempt to change the market.
If you cannot afford to drive a Maseratti, you don't expect the manufacturer to lower their prices, you look for you vehicle in a less expensive market.
Didn't I respond to one of your posts by posting an ad for a condo under $400,000 in a nice part of Oakland? Did you go see the condo?
Yeah I saw it. One bedroom condos are for high school graduates who got their first job at McDonald's or divorcees who pay half their income in child support.
I wasn't picking on you. I was offering up a useful and practical solution to the two biggest complainers on the board that look to blame everything and everyone else for their problems, instead of taking action themselves.
Yeah, next time I'm born I should have chosen the 50s when houses were affordable.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
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Quote:
Originally Posted by Perma Bear
Yeah I saw it. One bedroom condos are for high school graduates who got their first job at McDonald's or divorcees who pay half their income in child support.
or for single lonely guys who can't afford a house and look at mail order brides sites.
Yeah I saw it. One bedroom condos are for high school graduates who got their first job at McDonald's or divorcees who pay half their income in child support.
So you're also a elitist on top of it. Keep complaining. It's definately getting you somewhere.
Quote:
Originally Posted by Perma Bear
Yeah, next time I'm born I should have chosen the 50s when houses were affordable.
You don't really understand how time works do you. Think McFly... if you were in the 50s you wouldn't be making or having the money you have now. There was no difference. People still struggled to buy. I have people telling me I was lucky when I bought my house. Luck had nothing to do with it. I bought because I didn't want to be a renter. It was a smart decision. And yes it was a struggle not just to buy but to pay and maintain. But then I didn't sit there crying how it's unfair that a guy 30 years ago got a better deal and he was lucky.
And in 30 years my current house purchaeecpricecwill seem like a pittance
Wanna know what's hilarious about your statement? In about 30 years there is going to be Perma Bear 2.0 or 3.0 on here saying exactly what you're saying now. How life is so unfair and they can't get ahead.
So you're also a elitist on top of it. Keep complaining. It's definately getting you somewhere.
Wanna know what's hilarious about your statement? In about 40 years there is going to be Perma Bear 2.0 or 3.0 on here saying exactly what you're saying now. How life is so unfair and they can't get ahead.
I'm not elitist. What's the point of living in a one bedroom if I already live in one bedroom and I'd have to pay even more for the "privilege"?
They won't have a point because million dollar houses are already insane and unaffordable to the median income.
Americans choose to live in a Capitalist society, and with that they demand the right to own property that is purchased at a fair market value.
Landlords chose to buy property that includes an investment value. They take their valuable asset and make it available for use at a fair market price for their market. It is their business. They are not out to hurt anyone. They are supporting themselves and their families with the resources their life's work has provided them.
Renters have made the choice to live in their location, and some locations have a higher market value than others. If the fair market rents are beyond their reach, they should make different choices, not attempt to change the market.
If you cannot afford to drive a Maseratti, you don't expect the manufacturer to lower their prices, you look for you vehicle in a less expensive market.
Problem is that most LL and LL brokers buys up houses that is in a decent area knowing the huge investment in returns. I been approved for a 100k, after all said and done. So we found a house under the 85k mark but it was up for sale. Our realtor said their are others in the market as well, but we shouldnt have a issue with our pricing. Owner was just asking 80k, we decided to offer 5k more to seal the deal. Turns out the other player was some jack off in CA doing a callin bid according to our realtor. He offer them 90k with out even looking at the house. We kept it under a amount due to closing cost and fees, so our 100k would cover everything we needed to get done. It happens alot, people from outside of the state, buys up properties with out even looking at them. Always getting pushed out of the way with people like that. Now with the market being hot like it is, we will hold off till after the new year, get our refund and use it for more down payment on our future house. I do go out and bust my arse off only to get out bid buy big business, that what ticks me off the most. For once let the little guy get the steak..
I'm not elitist. What's the point of living in a one bedroom if I already live in one bedroom and I'd have to pay even more for the "privilege"?
They won't have a point because million dollar houses are already insane and unaffordable to the median income.
Then stop complaining about wanting a house or house prices. Your problem is you want the big house, cars and women right now but want to pay 1950s prices for it or pray the economy fails so you can buy in. Typical someone owes me and I deserve this thinking. Good luck with that mentality in life .
Because that one bedroom will gain value as you live in it both from paying the principal and market value. Hell you can buy it as a rental and live at home. It will compound your profits and you can sell it and make more because not only are you getting the initial investment you're also getting the profit. But that's ok I understand you rather wait to get your inheritance.
I bought a house at 21 yo. I was making 25k a year. I was told it was a loser investment by many people. The house is currently worth about 530,000, and it's been a rental for 22 years, it's got phenomenal income to say the least. Funny how everyone who thought it was a loser buy back then, no longer thinks it's a loser investment now. Now it's "I was lucky to buy when I did ". Lol yeah it was all just luck.
Last edited by Electrician4you; 10-01-2017 at 10:42 AM..
Then stop complaining about wanting a house or house prices. Your problem is you want the big house, cars and women right now but want to pay 1950s prices for it or pray the economy fails so you can buy in. Typical someone owes me and I deserve this thinking. Good luck with that mentality in life
Because that one bedroom will gain value as you live in it both from paying the principal and market value. Hell you can buy it as a rental and live at home. It will compound your profits and you can sell it and make more because not only are you getting the initial investment you're also getting the profit. But that's ok I understand you rather wait to get your inheritance.
I bought a house at 21 yo. I was making 25k a year. I was told it was a loser investment by many people. The house is currently worth about 530,000, and it's been a rental for 22 years, it's got phenomenal income to say the least. Funny how everyone who thought it was a loser buy back then, no longer thinks it's a loser investment now. Now it's "I was lucky to buy when I did ". Lol yeah it was all just luck.
Big house? 1000 square feet at the most is big? Ok. Also condos don't appreciate for **** nearly as well and hold no inherient value. (They're really worth maybe 10-100k).
You also bought decades ago when it was cheap. Someone who bought in 1913 could brag about how he bought 1000 acres in Cupertino for 1000 dollars.
Problem is that most LL and LL brokers buys up houses that is in a decent area knowing the huge investment in returns. I been approved for a 100k, after all said and done. So we found a house under the 85k mark but it was up for sale. Our realtor said their are others in the market as well, but we shouldnt have a issue with our pricing. Owner was just asking 80k, we decided to offer 5k more to seal the deal. Turns out the other player was some jack off in CA doing a callin bid according to our realtor. He offer them 90k with out even looking at the house. We kept it under a amount due to closing cost and fees, so our 100k would cover everything we needed to get done. It happens alot, people from outside of the state, buys up properties with out even looking at them. Always getting pushed out of the way with people like that. Now with the market being hot like it is, we will hold off till after the new year, get our refund and use it for more down payment on our future house. I do go out and bust my arse off only to get out bid buy big business, that what ticks me off the most. For once let the little guy get the steak..
You were out bid. If he didn't outbid you you'd have outbid someone else. Who cares. And what does the other player being from Cali mean?
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