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Old 10-06-2014, 12:23 PM
 
Location: Crooklyn, New York
28,266 posts, read 26,258,197 times
Reputation: 11726

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Quote:
Originally Posted by ringwise View Post
And once again I remind you that you are completely wrong. Homeowners have cost increases. In fact, because rent is determined by what the market will bear regardless of property taxes (as you have stated), yet homeowners have costs that increase, the renter comes out ahead.
Property tax and insurance increases tend to be small. I can't ever remember our note increasing by more than, say, $15-20. These are costs that usually get passed onto renters as well.
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Old 10-06-2014, 12:47 PM
46H
 
967 posts, read 587,016 times
Reputation: 1869
Quote:
Originally Posted by nei View Post
eh. the owner knew what the max rent he could get from it. Presumably it's reflected in the market value of the apartment. As for turnover, people complain cities are too transient, what better way to reduce transiency?
The market value of an unregulated apt is much higher than it should be if there was no rent regulation. A building full of regulated apts will find it hard to maintain the building.

Living 30 years or longer in a rental is ridiculous. Passing the apt to your heirs is insane.
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Old 10-06-2014, 04:51 PM
 
2,941 posts, read 3,861,397 times
Reputation: 1439
Quote:
Originally Posted by freemkt View Post
Most mortgaged homeowners have fixed-rate mortgages; the P&I payment is fixed for the term of the mortgage.

PLEASE explain how rising prices adversely affect a homeowner's principal and interest mortgage payment.

This ought to be good. Ball is in your court.
Homeowner's mortgages are different than the kind you get when you buy property for investment purposes. Banks consider those mortgages riskier and charge more for them in addition insurance costs are also higher for property that is being rented out.

Rising prices home prices can hurt the rental market in the area. The higher the cost to the homeowner the higher the rent will be if the owner decides to rent it. If the house isn't paid off. Most people buy houses to live in an few people buy houses as an investment and the higher the price of the house vs. what you could get in rent the riskier the purchase. Taxes are also assessed vs. the house's value and the higher the taxes the higher the rent or if you need to live there you could be taxed out of your own house if you can not find some sort of exception.
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Old 10-06-2014, 04:54 PM
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Location: Long Island / NYC
45,990 posts, read 41,998,698 times
Reputation: 14810
Strategically placed housing projects could ward off gentrifiers. Need enough to do a decent job
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Old 10-06-2014, 05:36 PM
 
2,553 posts, read 2,006,214 times
Reputation: 1348
Quote:
Originally Posted by nei View Post
Strategically placed housing projects could ward off gentrifiers. Need enough to do a decent job
"Strategically placed"? Pull back the red tape on development and developers will strategically place denser properties where the market will allow it. But, strategically placed makes it sound so planned, but that's how we get in to this mess in the first place, by over-planning.
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Old 10-06-2014, 07:04 PM
 
26,591 posts, read 52,323,935 times
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Quote:
Originally Posted by BajanYankee View Post
Property tax and insurance increases tend to be small. I can't ever remember our note increasing by more than, say, $15-20. These are costs that usually get passed onto renters as well.
I had my Thurston County assessment go up 80% over what I paid 18 months prior.

Came as quite a shock and as a result of a Judge throwing out I-747 which is similar to CA Prop 13...
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Old 10-07-2014, 12:51 AM
 
33,046 posts, read 22,072,092 times
Reputation: 8970
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Originally Posted by Ultrarunner View Post
I had my Thurston County assessment go up 80% over what I paid 18 months prior.

Came as quite a shock and as a result of a Judge throwing out I-747 which is similar to CA Prop 13...

I had to go look that up...looks like a correct decision on a technicality; if Tim Eyman wrote it, he should have anticipated the issue of what happens if 722 is overturned.

The legislature should have fixed that by adopting the spirit of I-747. They have no excuse for not doing so.
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Old 10-07-2014, 08:06 AM
 
Location: Crooklyn, New York
28,266 posts, read 26,258,197 times
Reputation: 11726
Quote:
Originally Posted by nei View Post
Strategically placed housing projects could ward off gentrifiers. Need enough to do a decent job
There are housing projects on the other side of Fort Greene Park. Projects can't ward off gentrifiers.

Maybe gentrification will stop 40 years from now after the last bodega shutters on Wilson Avenue. After every single street has a yoga studio, wine bar and fair trade coffee shop, people will start complaining how boring and monotonous things have become, and will start yearning for the suburban childhoods their parents foolishly abandoned to raise them in inner cities.
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Old 10-07-2014, 08:05 PM
Status: "Summer!" (set 22 days ago)
 
Location: Foot of the Rockies
87,014 posts, read 102,634,943 times
Reputation: 33082
Quote:
Originally Posted by BajanYankee View Post
Property tax and insurance increases tend to be small. I can't ever remember our note increasing by more than, say, $15-20. These are costs that usually get passed onto renters as well.
If the proposed school bond issue our school board put on the ballot passes, our school taxes alone will go up about $150/yr.
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Old 10-07-2014, 08:48 PM
 
Location: Chicago - Logan Square
3,396 posts, read 6,184,998 times
Reputation: 3717
Quote:
Originally Posted by nei View Post
Strategically placed housing projects could ward off gentrifiers. Need enough to do a decent job
I don't know. Old Town was one of the first neighborhoods to gentrify in Chicago (starting in the 70's) and it was right next to Cabrini-Green. River North later gentrified and it bordered Cabrini-Green on the South.

There haven't been many projects as large as Cabrini in the US, and it was sketchy as hell. Cops were driven out of Cabrini by snipers multiple times, and there were cases of kids being thrown from balconies or being shot on their way to school. In the end gentrification even drove out Cabrini - there was too much money to be made there by developers.
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