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Until y'all run out of water. But you know, people are people, they will keep breeding and moving into the DFW metroplex, expecting that the water will somehow magically appear there, even when the place has 20 million people.
Yes--I acknowledge that is a significant issue especially since OK has refused to honor past agreement w/FTW water authority to ship water from their lakes---
But it is better than San Antonio where they are sucking the Edwards Aquafer dry
Do you think CA is any better--
Can't count on snow fall/melt--better to look at salt water conversion to take up the rising sea levels...
Maybe you missed the point that was actually being made in terms of cost to own vs what you can charge for rent. The rental market dictates how high of a rent you can charge not your actual cost. That's the point being made not relative value of a purchase
The two are linked to -- not independent of -- each other. The generality in competitive rental markets is that monthly rents are apt to cluster around a point of one-half of one percent of what a property could be sold for.
Can't count on snow fall/melt--better to look at salt water conversion to take up the rising sea levels...
Desalination is very expensive. What California would better do is to address systems that promote massive runoff into the sea when rains actually do occur. Networks of cisterns to collect and store runoff could meet a significant portion of total gray-water demand. This would be vastly better than sending torrents of fresh water off on a headlong rush into the oceans.
America is the land of immigrants... a walk down my California street will find no one more than 3 generations from immigrant with many 2nd and some 1rst generation.
They came here for opportunity and found it... I worked in a tool and die shop and most skilled came from Germany, Swiss and even Austria and Italy...
Many builders and construction trades were Irish... for some reason many many Irish.
They all did well... some real success stories starting with nothing but a dream.
Most of the Restaurants around here are Asian owned... also stories of refugees starting as dishwashers and 40 years later owners...
The city government here is heavily African American, Latino and LGBT...
Statistics are just numbers... you can't eat a Statistic but you live your reality daily... maybe the SF Bay Area is just that kind of special place where success or knowing someone that has overcome is more common?
Most of the people we know--white or minority--are fairly recent Americans in their family heritage--
Some of our oldest friends are Mexican American--first generation born in US and they are a little older than we are...their parents lived in San Antonio area after coming to America in 30s
another set has recent Irish heritage...
our daughter's good friend from jr hs is married to a Brit whose parents moved to Houston for work when he was in Jr high school--he didn't take US citizenship option when he was 18--so he had another opportunity after they married...their two kids have dual citizenship...
Our best friend was born in Brooklyn from German heritage--just before WWI--and she married a guy who was Irish extraction--2nd generation---
The lady who cleans for us is a green-card resident alien as is her husband--from Guatemala--all 4 of their kids though were born in the US...
Both my husband and myself though can trace our direct family lines back to pre-Revolutionary War ancestors--before 1650 from Holland and England...and that is both my maternal and paternal line and my husband's paternal for sure--not that much known about his mother's line...
So we are fairly unusual I think...not that I care--
When my husband told our daughter she was more than eligible to join the DAR, she laughed at him...
not interested in that "claim to fame" she said...
RE the Irish going into construction trades--likely because it was something they brought with them that didn't require good English and before unions, construction work was not that highly regarded--low wages, dangerous work--
I know in my area (Texas) Hispanics in construction likely are masonry/stone work guys and most are excellent at it...and roofing work--many roofers will tell you that undocumented aliens working for cut rate wages have cut into the roofing business significantly...
And re city government--if you are a minority the government is one of the areas of business that usually has strict enforcement of fair hiring practices and more opportunity to move upward...so that is just smart
I worked for the TX Dept of Health and Human Services--state agency--and the normal office composition had more minorities (AA and Hispanics in my area) working as clerical and caseworkers and mid level managers than pretty much any other private business in the DFW area...and wages were standardized based on experience and job description...more transparency in hiring and more protection for problamatic performance
Plus in city government you have the opportunity to make a difference in the lives of other minorities
Of course groups might view that as a negative if they feel Anglos or other ethnic groups suffer through affirmative action or just legal enforcement of existing laws by government officials...
America is the land of immigrants... a walk down my California street will find no one more than 3 generations from immigrant with many 2nd and some 1rst generation.
They came here for opportunity and found it... I worked in a tool and die shop and most skilled came from Germany, Swiss and even Austria and Italy...
Many builders and construction trades were Irish... for some reason many many Irish.
They all did well... some real success stories starting with nothing but a dream.
Most of the Restaurants around here are Asian owned... also stories of refugees starting as dishwashers and 40 years later owners...
The city government here is heavily African American, Latino and LGBT...
Statistics are just numbers... you can't eat a Statistic but you live your reality daily... maybe the SF Bay Area is just that kind of special place where success or knowing someone that has overcome is more common?
Notice that about 3/4 of your post used past tense
America is less and less the land of opportunity. Even things like "upward mobility" are now measurable and all indications are that USA is trailing the rest of the developed world. Even Canada, the example of nearby communism (according to Fox news etc.) is doing better in that measurement.
I have worked in Iceland, the whole island down to the last fishing village was laid with fiber. Contrast that to living 30 miles outside of Austin, TX (silicon hills of America?) or Charlottesville, VA (with a huge high tech university) and you get is satellite or 4G LTE with prices and service rivaling remote Tanzania.
"We the people" have become slaves to corporations. From being beat down for protesting a pipeline to losing a job because it is cheaper to exploit some unfortunate far away where there are no labor laws, to "Citizens united" and legalized bribery via lobbying, to corporate run prisons, drug epidemics fueled by the ever hungry pharma industry in cahoots with a crooked health care system, to being raped by the only industry in the world where you walk in and get service without knowing how much it will cost ("health care"), to schools that differ 180 degrees from each other depending on an arbitrary line called school district, to an education system that creates debt slaves in order to give them a college degree, to medical bills being #1 cause of bankruptcy to..... Kind of like a 3rd world country in the treatment of its citizens. Then someone says we have low taxes compared to Germany. Well, look at them German suckers. #1 economy, highly skilled labor (how about that free education?), longer life expectancy (how about that free health care system?), etc. etc. How dumb can those guys over there be?!?
But hey, we are free to own guns and THAT'S the measure of freedom. Can't eat statistics but I guess one can eat a gun or use it as an antenna to get Internet?
And then there is the "how about retirement planning" thread. Yah, right.
The two are linked to -- not independent of -- each other. The generality in competitive rental markets is that monthly rents are apt to cluster around a point of one-half of one percent of what a property could be sold for.
You can't say they are linked because they arent. If you have to qualify it with generally then you can't say they are linked because they aren't and that should be clear. You can if you wish attempt to draw lines between current values and current rents but that's not what's in question. What's in question is a owner/landlords cost vs current rent which is not the same thing
Last edited by Lowexpectations; 11-24-2017 at 10:55 AM..
childless here still get free medicaid , they can get utility and rent assistance . seniors in stabilized housing who are lower income are free of future rent increases forever . 1/2 of all housing here in nyc is stabilized and that effects millions .
In other words, people that buy income property for their retirement, to give them a retirement income, are the ones that are taken advantage of. Not being able to charge a reasonable rent, and not able to raise rents as costs increase, lose their income from the property for their retirement, so that some other people are able to pay very low rents, and never have to pay any rent increase.
I spent from 1972 till I finally retired as an investment real estate broker. I established rental streams for numerous well paid people such as doctors, American oil experts working overseas, etc. We bought houses, and apartment buildings, commercial buildings, etc., to to give these investors and their families income streams to send their children to college without having to take out loans, their retirement, and etc.
Take away their ability to raise rents as expenses, taxes, etc., increased over the years, would leave them actually losing money instead of having an income stream from their investments.
This is socialism/Communism in all it's glory. It is Robin Hood all the way. Stealing from those that are trying to provide decent places for people to live (INVESTORS) , and giving it to the poor and others that are renters. This type of thing, is some socialists getting in control of the local government, and instead of figuring ways for the government to help the poor, etc., just pass laws that turn this problem over to the people that are investing their savings in their community providing decent housing for people.
Great argument. In the real world of course, there are equivalent rental and owner-occupied units in pretty much every market. And even though some of those might migrate back and forth over time, some people actually do study what the relationships between the two forms might be.
Great argument. In the real world of course, there are equivalent rental and owner-occupied units in pretty much every market. And even though some of those might migrate back and forth over time, some people actually do study what the relationships between the two forms might be.
So if I tell you where my house is, the stats you can estimate what I might rent it for right? What would my cost to own have to do with that? Nothing. That is the real world not your fantasy of apply current ratios to an owner's cost
Bad decisions like being divorced, being laid off, or getting sick. Why don't people just stop doing those things?
Let's see. I was laid off, wife had cancer, got divorced... and still did OK.
But I agree some things are out of our control. Problem for many is most the time it is things we do control.
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