Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My opinion is that there is a difference between money earned through labor, intellectual property etc (ie your job) and passive income from investments or real estate. Sure a land lord might have to do some mx from time to time and every once in a great while there may be some major work but by in large the total amount of actual work is minimal compared to a day job.
the issue with any inelastic demand curve is there is very little distinction between "market" rate and gouging, the very definition of inelastic demand is that people will be willing to go to the poor house for it because there is very little choise in the matter (ie roof over your head and medical care).
all irrelevant points , what we do to earn our incomes has no bearing on who gets capped and who does not . rent gouging rarely works if your competitors are cheaper .
try asking for a salary well above what you bring to the party . see how well that works out for you .
Last edited by mathjak107; 12-08-2016 at 04:49 AM..
Burger flippers earning $8 per hour would be okay with that.
perhaps it should be capped at 5 bucks . as long as we are talking reducing incomes what about yours ?
unless there were decent returns on real estate there would be no landlords bothering to put up with tenants and the troubles of renting out property to strangers .
Many cities have a majority or near-majority of renters. When rents skyrocket while wages stagnate, rent serfs start grumbling about rent control. This alarms landlords, who RUN to their buddies in the state legislature for a statewide ban on rent control.
Since landlords are flush with cash they can pour into political campaigns, legislators follow the money and pass a statewide ban.
Only California and New York have a near-majority of renters, which is why rent control exists only in California and New York.
there are more places with some form of rent control or rent stabilization including new jersey and washington dc .
Many cities have a majority or near-majority of renters. When rents skyrocket while wages stagnate, rent serfs start grumbling about rent control. This alarms landlords, who RUN to their buddies in the state legislature for a statewide ban on rent control.
Since landlords are flush with cash they can pour into political campaigns, legislators follow the money and pass a statewide ban.
Only California and New York have a near-majority of renters, which is why rent control exists only in California and New York.
if what you say was true nyc should have no rent stabilization then right ? the rich powerful landlords would have appealed it and got it thrown out . .
so not the case .
2017 will be the 2nd year in a row with zero rent increase .
our building raised indoor parking spots by 40 bucks a month and hit us all with a 40 dollar a month capital improvement surcharge instead . no one works for free or committs capital to risk willingly for free . . every year it is anticipated you will earn a profit regardless .
like any investment markets do not always cooperate, it is the same as every year you may not get a raise .
Last edited by mathjak107; 12-08-2016 at 04:44 AM..
Well, let's look at the same type of issue as it might relate you and your salary.
What if there was a push to make sure your job paid only half of what you currently are paid?
This would help the economy, etc., in oh so many ways.
So, would you be willing to work for half your current salary, and stay where you currently live, in order to help the current, local economy?
of course they wouldn't . you know the deal . it is always the other guy that should be the one to take the hit . they keep what they get and everyone else just gets less . you see that all the time when taxes and means testing is discussed. income levels that suffer are always above their own .
don't get me wrong . i fully enjoy taking advantage of our rent stabilization laws as an investor . way below market rents allowed us to be part of a venture that bought out rent stabilized co-ops over looking central park for a fraction of their value since it was based a lot on rent roll .
we paid 100k to original tenants to buy out their lease once we purchased the apartments , so we could sell the apartments at incredible prices .
out of 9 apartments 7 took the offer . the 2 remaining tenants pay way below market and are at about break even .
at this point though we made enough on the apartments to retire so they no longer have the 100k offer on the table . we don't mind sitting with these 2 apartments at this point since what we made on the others fairly compensated us .
while i was not happy paying 100k to get our own property back i view it as we paid 100k to break a contract with them . in that case like any contract it was a buyout of their contract .
we entered the deal because i figured being older and baby boomers many tenants could not afford to stay in that area once they retired . that assumption paid off as they jumped at the buyout offer
all irrelevant points , what we do to earn our incomes has no bearing on who gets capped and who does not . rent gouging rarely works if your competitors are cheaper .
try asking for a salary well above what you bring to the party . see how well that works out for you .
: smack:
One of the functions of zoning is to artificially restrict the supply of housing offered, especially undesirable types of housing such as apartments, SROs, and trailers.
When supply is restricted, it doesn't get cheaper, it gets more expensive.
Zoning is what keeps area's from being overwhelmed trying to support more than the infrastructure can handle . It also keeps my neighbor from running a boarding house and living in a shanty . They are needed in congested areas especially.
.........One of the functions of zoning is to artificially restrict the supply of housing offered,.........
You are the only person I know who is happy to live with a pig farm on one side of him and an all night biker bar on the other side. Well, maybe there are others, but Ive never heard of them.
Me, I don't want a pig farm next to me and I think that biker bars should be out on the highway in the commercial district, with their roaring engines and bar fights. So, I am much in favor of zoning restrictions.
I have to admire how tolerant you are. Although, if pressed, I will admit I don't want a rooming house full of 5-6 drunks next to me, either, with the drunken landlord fighting noisily with his girlfriend.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
