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Old 07-26-2016, 04:52 PM
 
124 posts, read 73,450 times
Reputation: 83

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Quote:
Originally Posted by adr3naline View Post
Quesiton...
Do these "activists" own anything in Boyle Heights?

Home owners should be delighted by gentrification of their neighborhood. Whereas renters should count their lucky stars for good rent in the booming years of LA and move to a more financially fitting neighborhood.

This seems to be something that the population of major US metros can't comprehend. You own for financial security and to deflect all these terrible white people from upscaling your apartment and subsequently your rent. If you're leasing someone else's property, you're only entitled to stay there until the end of your lease.
I absolutely agree with you about residential renters.

However, it actually can suck if commercial rents go through the roof and push out all the old businesses. Obviously in general gentrification is going to be a good thing as it will eventually get rid of the pawnbrokers, tattoo parlors, head shops, XXX movie theaters, etc. However, losing amazing and cheap ethnic foods or grocery stores can be a sad day for the community.

And to tell a small business owner located in a strip mall he should have simply bought the whole building is a lot harder than for a renter to buy a condo or house in the same area.
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Old 07-26-2016, 08:30 PM
 
11,493 posts, read 5,551,757 times
Reputation: 5949
I don't get why some renters think they're entitled to low rent because they grew up there
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Old 07-27-2016, 09:50 AM
 
4,325 posts, read 2,195,747 times
Reputation: 3602
Quote:
Originally Posted by l1995 View Post
I don't get why some renters think they're entitled to low rent because they grew up there
Because they don't understand how a "market" actually works. None of them have taken a basic macro/micro econ course. They rely more on how they "feel" about how things should be, which is neither useful or productive.

When you boil it down, these people are throwing temper tantrums.
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Old 07-27-2016, 10:13 AM
 
Location: Los Angeles (Native)
24,153 posts, read 13,675,815 times
Reputation: 11364
Quote:
Originally Posted by DenaDude View Post
I absolutely agree with you about residential renters.

However, it actually can suck if commercial rents go through the roof and push out all the old businesses. Obviously in general gentrification is going to be a good thing as it will eventually get rid of the pawnbrokers, tattoo parlors, head shops, XXX movie theaters, etc. However, losing amazing and cheap ethnic foods or grocery stores can be a sad day for the community.

And to tell a small business owner located in a strip mall he should have simply bought the whole building is a lot harder than for a renter to buy a condo or house in the same area.
These businesses often stay around a while because they have long leases with options to renew, etc.
Having a low rent because of a long lease or a paid off building can be a huge competitive advantage
This is often the only way some of these businesses can survive .

Depending on location and the type of business they are running some business owners that own the building can make more moving out of the building and lease it at market rates to a new tenant than they can running the business .

There are some pretty favorable loans out there for existing businesses to get good terms on loans for owner occupied properties . Buying an entire strip mall in LA of course isn't too likely , but there are still free standing buildings .
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Old 07-27-2016, 10:19 AM
 
Location: Los Angeles (Native)
24,153 posts, read 13,675,815 times
Reputation: 11364
Quote:
Originally Posted by CaliRestoration View Post
Because they don't understand how a "market" actually works. None of them have taken a basic macro/micro econ course. They rely more on how they "feel" about how things should be, which is neither useful or productive.

When you boil it down, these people are throwing temper tantrums.
Yeah I've read some articles where some tenants are shocked and surprised that they are being asked to leave.
At least one has said stuff like " I thought I was going to die in this apartment"

How many tenants even read their entire lease or have an attorney review it? Probably not many .
They should realize being asked to leave is a possibility if the owner decides to develop the building and get out of the landlording business .

Things change and some owners wake up and realize they don't really want to continue renting out units for 1/2 the going rate , especially when housing prices are sky high .

Tenants would do the same thing if they had the opportunity .
I don't get the belief that landlords are greedy if they don't subsidize their tenants .
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Old 07-27-2016, 10:38 AM
 
Location: Los Angeles (Native)
24,153 posts, read 13,675,815 times
Reputation: 11364
Quote:
Originally Posted by adr3naline View Post
Quesiton...
Do these "activists" own anything in Boyle Heights?

Home owners should be delighted by gentrification of their neighborhood. Whereas renters should count their lucky stars for good rent in the booming years of LA and move to a more financially fitting neighborhood.

This seems to be something that the population of major US metros can't comprehend. You own for financial security and to deflect all these terrible white people from upscaling your apartment and subsequently your rent. If you're leasing someone else's property, you're only entitled to stay there until the end of your lease.
Hard to say if the activists own anything . I know that "Serve the people " had some gibberish about the Senoras fighting for public housing back in the day , so perhaps some are getting a free ride at tax payer expense .
Hmmm wonder if that public housing and social services could be offered if there wasn't capitalism ..

Many of these groups seem to hate America or at least white people . Yet it's unlikely any of them have travelled to a Maoist or communist country.

Sorry but if you are going to " deny" capitalism .. This probably isn't the country for you.

Anybody that is renting in LA can afford to buy somewhere , maybe in a neighoring city or it might have to be out of state .
People have got to decide if it's more important to own property or to live in LA.

There seems to be some messaging in the political environment now that people should be able to live wherever they want as long as they work 40 hours , which isn't realistic . I heard this mentioned during the DNC convention

The numbers just don't work , and we can't be subsidizing that many people to live in L.A, Manhattan or San Francisco.
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Old 07-27-2016, 11:14 AM
 
4,325 posts, read 2,195,747 times
Reputation: 3602
Quote:
Originally Posted by jm1982 View Post
Yeah I've read some articles where some tenants are shocked and surprised that they are being asked to leave.
At least one has said stuff like " I thought I was going to die in this apartment"

How many tenants even read their entire lease or have an attorney review it? Probably not many .
They should realize being asked to leave is a possibility if the owner decides to develop the building and get out of the landlording business .

Things change and some owners wake up and realize they don't really want to continue renting out units for 1/2 the going rate , especially when housing prices are sky high .

Tenants would do the same thing if they had the opportunity .
I don't get the belief that landlords are greedy if they don't subsidize their tenants .
I know most tenants don't read their leases (I used to own a 4 unit complex in Concord CA until I sold it 2 years ago). Many of them threaten to sue when you minus $75 from their deposit for cleaning, carpet, and windows even though it says it directly in the lease.

The market is the market. If Manhattan has X units being offered at Y price, you get a certain demand for a certain supply. It all slides. This is the basic concept a lot of people don't get.
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Old 07-27-2016, 11:16 AM
 
4,325 posts, read 2,195,747 times
Reputation: 3602
Quote:
Originally Posted by DenaDude View Post
I absolutely agree with you about residential renters.

However, it actually can suck if commercial rents go through the roof and push out all the old businesses. Obviously in general gentrification is going to be a good thing as it will eventually get rid of the pawnbrokers, tattoo parlors, head shops, XXX movie theaters, etc. However, losing amazing and cheap ethnic foods or grocery stores can be a sad day for the community.

And to tell a small business owner located in a strip mall he should have simply bought the whole building is a lot harder than for a renter to buy a condo or house in the same area.
This is a ridiculous point.

Rents are determined by the market. Do you expect commercial complex owners to subsidize the rents of business owners because of... feelings? Why should they take rents 50% below market?

Would you take 50% below market so some nail shop could continue to operate "profitably" in the neighborhood, even though another nail shop entrepreneur wanted to offer you 100%? How generous and benevolent of you.
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Old 07-27-2016, 11:20 AM
 
Location: Los Angeles (Native)
24,153 posts, read 13,675,815 times
Reputation: 11364
Quote:
Originally Posted by CaliRestoration View Post
I know most tenants don't read their leases (I used to own a 4 unit complex in Concord CA until I sold it 2 years ago). Many of them threaten to sue when you minus $75 from their deposit for cleaning, carpet, and windows even though it says it directly in the lease.

The market is the market. If Manhattan has X units being offered at Y price, you get a certain demand for a certain supply. It all slides. This is the basic concept a lot of people don't get.
These need to teach this in schools . This mentality is too widespread . Before teaching algebra or a bunch of other stuff most people are unlikely to use , they really need kids to understand the basics of how the economy works.
Millions are not getting the lesson from their parents .
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Old 07-27-2016, 11:25 AM
 
4,325 posts, read 2,195,747 times
Reputation: 3602
Quote:
Originally Posted by jm1982 View Post
These need to teach this in schools . This mentality is too widespread . Before teaching algebra or a bunch of other stuff most people are unlikely to use , they really need kids to understand the basics of how the economy works.
Millions are not getting the lesson from their parents .
It'll never happen. K-12 in most states is controlled by leftist. The simple fact that the majority of democrat voters don't know how an economy works is precisely how they can pander for votes.
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