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Are you fixing loopholes? Or just removing any means of any sort of control (which naturally moves the control to the rich, rather than all The People).
Do you actually own rental property? Do you know anyone who does?
This idea that property owners are all like Scrooge McDuck swimming in vaults full of gold coins is so naive that... well, it can only be believed by the same people who believe rent control benefits "all The People." It benefits those who get to live in below-market units for as long as they feel like (and the bureaucrats who rely on them for their own livelihoods) and screws everyone else -- prospective tenants and property owners alike.
Do you actually own rental property? Do you know anyone who does?
This idea that property owners are all like Scrooge McDuck swimming in vaults full of gold coins is so naive that... well, it can only be believed by the same people who believe rent control benefits "all The People." It benefits those who get to live in below-market units for as long as they feel like (and the bureaucrats who rely on them for their own livelihoods) and screws everyone else.
The cap rates / returns on rental property in L.A are next to nothing now .
About 3% or less . I’m guessing it’s the same or worse in L.A and those figures are based on brokers selling the properties and they notoriously leave out many expenses .
Only way these people can make income is by holding onto the property for year and hope rents go up more than their expenses .
Many real estate investors calculate based on expenses of 50 percent of rent ... before their mortgage payment
I notice the same ignorance when people talk about business owners . A place charges $6 for a sandwich they might be making 60 cents or less of profit after rent , employees , insurance , utility etc etc
Then morons wonder why they can’t pay $15 or $20 bucks an hour to cashiers and sandwich makers ..
If I could not afford it I would move because I understand personal responsibility and living within my means. I do not rely on the government to subsidize my existence.
Keep believing that until you're renting a cardboard box!
Keep believing that until you're renting a cardboard box!
I own my home.
So what you are saying is people should support government overreach because someday it may benefit them, rather than being personally responsible for their own future?
So do I! I wrote a check for the whole thing ...no mortgage. But not many people are as fortunate as I am! But I have empathy for those who are not so fortunate!
So do I! I wrote a check for the whole thing ...no mortgage. But not many people are as fortunate as I am! But I have empathy for those who are not so fortunate!
Good on ya. See my edited post.
Having empathy and supporting government overreach are not the same thing. I have plenty of empathy so stop with the virtue signaling.
vir·tue sig·nal·ing
noun
the action or practice of publicly expressing opinions or sentiments intended to demonstrate one's good character or the moral correctness of one's position on a particular issue.
vir·tue sig·nal·ing
To take a conspicuous but essentially useless action ostensibly to support a good cause but actually to show off how much more moral you are than everybody else.
Last edited by redwood66; 04-29-2018 at 02:26 PM..
I believe rent control is a good thing it keeps greedy landlords in check.
No, it just reduces the supply of rentals, driving up the costs for all the other renters for that reason (as well as to compensate for tenants paying below market).
Buddy, someone is living in that home. Their home.
"Deferred maintenance" should be handled in the contract and in the law.
You guys are supposed to hate "home-stealing" Communists but are apparently fine with "no rights for the small fry" when the one in power is some private home renter random person.
Loopholes should definitely be fixed, but poor old people should not be kicked out because they didn't keep pace with the "income growth" of the neighbors around them.
Somebody tell that to the real estate tax collectors. Doesn't matter if you're poor, old, become disabled, etc., that real estate tax bill increases every year.
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