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There was a time when I approached the leader of a landlord organization in Michigan. As an opponent of Michigan's steep "nonhomestead tax" on the primary residences of renters, I saw an opportunity for landlords and tenants to come together in opposition to government and homeowner overreach in taxation.
I suggested we work together to defeat the tax at the polls, and suggested landlords pass along 50% of their tax reduction when the tax goes away. (Without a specific financial incentive, renters would have no incentive to vote against the tax - c'mon, admit it, landlords would pocket the four figures if the tax expired - and very few would bother to vote at all.) He said he would consult his members, and a week later said his members would not support it.
But he did connect with his newspaper media contact and wrote a piece for the paper, explaining how unfair the tax was. The homeowner backlash was vicious; it was homeowners who were objecting to "greedy" landlords.
I proposed a coalition to defeat the tax, and thus a half loaf for landlords. The landlords refused - the explanation given me was that taxes are just a cost of doing business, and thus expensible for state and federal taxes, and the landlords preferred to not allow their tenants any peek into their numbers.
Not greedy, what do you call it?
Sure, ok. And I remember you posting "tax the **** out of landlords" as if those taxes wouldn't be passed on to you.
As far as landlords who accept Section 8 go, YES government does do a great job. These are landlords who sign up in order to accept Section 8 tenants and subsidies, while they won't rent to me because without a government subsidy, I don't have "enough" income to suit them.
It's kind of a kick in the pants isn't it? The takers who didn't work to earn the money and gets the subsidy (money taken from other people) are accepted and housed, but someone who works to pay their own way aren't accepted or helped.
As far as landlords who accept Section 8 go, YES government does do a great job. These are landlords who sign up in order to accept Section 8 tenants and subsidies, while they won't rent to me because without a government subsidy, I don't have "enough" income to suit them.
Government policies that reward the taker, punishing someone who tries to pay their way... yep, and the takers still complain. I know landlords who don't want section 8. The complaint is section 8er's don't respect the property, no pride and the attitudes are terrible. What good is getting rent if you have to spend it if not more fixing what the section 8er destroys.
Government policies that reward the taker, punishing someone who tries to pay their way... yep, and the takers still complain. I know landlords who don't want section 8. The complaint is section 8er's don't respect the property, no pride and the attitudes are terrible. What good is getting rent if you have to spend it if not more fixing what the section 8er destroys.
You're my new best friend.
I've been preaching that for years. I was a landlord (bought some apartments) many years ago, and I learned a lot of hard life lessons. First and foremost, Section 8 tenants don't give a rat's arse about YOUR property.
Right now, our government rewards the takers and penalizes the producers. We're living "Atlas Shrugged."
As to the original post, our average house here in Norfolk cost about $300,000 five years ago. How do mere mortals find the money to come up with that kind of money?
We're nearing retirement age, so we're in better shape than many, but I don't know how people pay these prices.
Sure, ok. And I remember you posting "tax the **** out of landlords" as if those taxes wouldn't be passed on to you.
Specifically, I would tax VACANT rental properties and rentals which are non-primary residences. Rental properties which are occupied as the renter's primary residence should be taxed at the same rate as a homeowner's primary residence.
The nonhomestead tax is assessed on January 1, so as long as a home is occupied as a primary residence on January 1, in my world, the home should be exempt from the extra tax.
Another way to "tax the ***" out of landlords" is to put a tax ONLY on "Cadillac" rents, the same way as Obamacare has a "Cadillac tax" on high-end healthcare benefits. Or extend a preferential "lifeline" tax rate to "affordable" housing. Of course, the NIMBY homeowners who don't want ANY affordable housing around would have a hissy fit.
Government policies that reward the taker, punishing someone who tries to pay their way... yep, and the takers still complain. I know landlords who don't want section 8. The complaint is section 8er's don't respect the property, no pride and the attitudes are terrible. What good is getting rent if you have to spend it if not more fixing what the section 8er destroys.
Hey, I have no problem with landlords who don't accept Section 8. The landlords who DO accept Section 8 demonstrate their greed openly. Remember, I'm harmed when I have to compete for scarce housing with Section 8 recipients.
It's kind of a kick in the pants isn't it? The takers who didn't work to earn the money and gets the subsidy (money taken from other people) are accepted and housed, but someone who works to pay their own way aren't accepted or helped.
Yes it is, and landlords who accept Section 8 are doing neither you nor I any favors.
Are you assuming no state/local income tax, no retirement savings, no medical insurance, before insurance? Netting $3,500 on $50k is going to be a tall order.
I am assuming low to no state taxes, my savings figure is retirement and non-retirement combined, medical can be had for very cheap with a high deductible plan if young and single (e.g. $100/month), and excess co-pays go into the $600/month "everything else" category. I myself could get unsubsidized Obamacare for about $110/mo. if I went with a no-frills, high deductible BCBS plan.
I am assuming low to no state taxes, my savings figure is retirement and non-retirement combined, medical can be had for very cheap with a high deductible plan if young and single (e.g. $100/month), and excess co-pays go into the $600/month "everything else" category. I myself could get unsubsidized Obamacare for about $110/mo. if I went with a no-frills, high deductible BCBS plan.
Even in this hypothetical scenario, this person making $50k in the Bay Area is going to be worse off (both in terms of disposable income and comfort, by living in a rental room) vs. people in the majority of the country who could afford a house, vehicle, etc., on this income.
Let's face it - if you're making $40k-$60k, why would you continue living in NYC, SF, etc.? At that wage, you're probably not unskilled labor, and could probably do better effectively elsewhere. These cities are pretty much exclusively for the rich who can afford it or the poor who are subsidized to stay there.
Even in this hypothetical scenario, this person making $50k in the Bay Area is going to be worse off (both in terms of disposable income and comfort, by living in a rental room) vs. people in the majority of the country who could afford a house, vehicle, etc., on this income.
Let's face it - if you're making $40k-$60k, why would you continue living in NYC, SF, etc.? At that wage, you're probably not unskilled labor, and could probably do better effectively elsewhere. These cities are pretty much exclusively for the rich who can afford it or the poor who are subsidized to stay there.
Well it depends on what income the person could make elsewhere. 'Nuff said.
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