[Mike from back east]

Originally Posted by lvnyc

In addition, if I may be so bitchy, the worst people seem to be drawn to these "investments". I hope they get their asses handed to them. I was a landlord once, and got out of it asap - it felt creepy.

That's how I would feel if I gobbled up homes and in the process excluded the younger generation from getting their foot in the door on home ownership.

Maybe 35 years ago I took a class in rental properties to see if it was something I should consider. The class was taught by a former religious missionary, who had the personality of a cadaverous ghoul. He gave me the creeps and his soulless advice on how to screen for tenants, etc, had all the appeal of an embalming fluid cocktail. I stuck with the stock market ever since, where I can buy and sell in moments and have zero headaches from tenants, lawyers, zoning, tradespeople, etc.

[Willy702]

Originally Posted by Mike from back east

That's how I would feel if I gobbled up homes and in the process excluded the younger generation from getting their foot in the door on home ownership.

Maybe 35 years ago I took a class in rental properties to see if it was something I should consider. The class was taught by a former religious missionary, who had the personality of a cadaverous ghoul. He gave me the creeps and his soulless advice on how to screen for tenants, etc, had all the appeal of an embalming fluid cocktail. I stuck with the stock market ever since, where I can buy and sell in moments and have zero headaches from tenants, lawyers, zoning, tradespeople, etc.

Sorry to tell you Mike, but landlords and corporate buyers aren't the reason why younger people are getting into home ownership. Zoning and cost of building are far more important and now interest rates are making it worse. The zoning issues are not even obvious to most and those who vote to keep them are quietly as conflicted as can be. Not too many struggling renters get to be on city councils and zoning commissions.

And as you and others have said, landlording wasn't for you. Its not for everyone. Those who do it are quickly separated from the idea its going to be easy money. Those who stick with it are filling a need in the marketplace. Most people are renters for reasons that go way beyond home prices.

I do agree with you a bit that REITs are a bit of an inefficiency in the marketplace for tax reasons, although if those are the rules everyone should act accordingly if you ask me. However, as a pretty heavy investor in REITs myself I can tell you that the idea that they are impacting the residency market is way off. Its hard to buy good REITs in a way that replicates being a landlord, very few do that. I can buy any type of office, retail, mall, industrial, hospital, etc. building out there, but the share of apartments and homes owned by REITs is extremely small. I owned one for a couple years recently that focused on Sunbelt only markets. The CEO on a call said their opportunities were limitless because they and other REITs controlled less than 10% of the apartments in their markets. They intended to buy more apartments and in most cases, class C apartments, and invest in them to make them higher classed. Class C is pretty bad stuff, something you might call suburban slumlords depending on location.

[Downtown Dave]

Originally Posted by Mike from back east

If we want to get the hand of the government out of the housing markets then eliminate the tax laws making it advantageous for wealthy people and big corporations to keep gobbling up homes and putting them in the rental market.

This is really easy to implement.

1. Raise property taxes on all single-family homes by 50%.

with

2. A 33% discount on owner-occupied single-family homes.

[moguldreamer]

Some of you clearly never have passed a university level sequence in economics.

[moguldreamer]

Originally Posted by Downtown Dave

This is really easy to implement.

1. Raise property taxes on all single-family homes by 50%.

with

2. A 33% discount on owner-occupied single-family homes.

No problem. All leases will be written so that the tenant pays all property tax increases.

[ochodedos]

Originally Posted by moguldreamer

No problem. All leases will be written so that the tenant pays all property tax increases.

Don’t they anyway? Otherwise, you’re doing it wrong.

[Tarara Boomdea]

https://www.reddit.com/r/vegaslocals...across_valley/

Rents dropping across Valley

My brother just had the rent on his 2 bedroom apartment REDUCED by $350/month. Anybody else noticing rents trending downward? I'm seeing a lot more inventory all of a sudden as well.

[Tarara Boomdea]

Las Vegas Review-Journal
October 16, 2023

https://web.archive.org/web/20231016...vegas-2922838/

[Tarara Boomdea]

14 big landlords used software to collude on rent prices, DC lawsuit says
Suit claims employees were told pricing outside the algorithm was "unacceptable."
Kevin Purdy - 11/1/2023

https://arstechnica.com/tech-policy/...-lawsuit-says/

"RealPage and the defendant landlords illegally colluded to artificially raise rents by participating in a centralized, anticompetitive scheme, causing District residents to pay millions of dollars above fair market prices,” Schwalb said in a release tied to the complaint.

I read about this months ago, and it's been going on for quite some time. Not just D.C., I'm sure.

Last extension (14% increase), I asked our property manager why should I pay more for a place that is older and increasingly shabbier, he said "because rents are going up like crazy and I don't know why."

Just received lease renewal, 11% increase. Also wants a $150 fee to sign the extension . This for a place that, e.g., if you ask for three repairs, the landlord only fixes one, and buys the cheapest replacement or hires a sketchy repairman to do it. Have decisions to make.

[aardogfsu]

Originally Posted by apple92680

Get ready for another tidal wave of Section 8!

Foreclosed homes will be bought by BlackRock and their subsidiaries and rented out en mass again, a la 2010.

Don’t ever accept section 8…I accepted a tenant on section 8 housing in NJ. Worst mistake I ever made. You pretty much don’t own your property anymore. You have zero say in anything and can’t remove the tenant.