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??? ??? There IS trash pickup, okay. All utilities are paid by tenants. I have never seen or talked with the owner in 2 years here. Other than normal lawn mowing I am unaware of any "work" done on or to the house or its systems and components. e.g. if the heat is nonexistent because the furnace doesn't work or because the gas was shut off; it has not been corrected.)
i'm not sure what expenses there are here beyond mortgage, property taxes, and trash. Based on most recent purchase price (~$120K) and the rents here ($500/mo * 10 ppl) one would expect a ton of cash flow is accruing to SOMEBODY.
We budget around $500/month for home things. Whether it's pressure washing, a new drainage ditch, fertilizer, a new lawnmower, a new roof or AC, painting or replacing siding, etc it all adds up over time.
He'll never tell, since he knows he'll get a bunch of replies showing more reasonable housing options. This is not someone who actually wants to make choices to solve problems.
The renters are paying even more than landlords are asking, because middlemen are piling on and extracting more than the landlords are.
So, the landlords are asking below market value.
It's just like buying a facevalue playoff ticket to a professional sporting event. The franchise could charge more, but they sell it and the secondary market makes even more money because that's the real market rate.
The 22 year old in debt would have to make a lot of sacrifices to get in the same position as the 22 year old who has someone pay for their college and give them money for a down payment on a house.
You can blame the short-sighted tax-haters for this. They sometimes try to call themselves "fiscal conservatives," but they're really just short-sighted tax-haters. One of the things they really hate is when their state and local taxes are used to pay for the education of other people's children. Though they'd like to, they've not been able to defund pubic K-12 education just yet, but the funding that put a public university education within the reach of middle-class students with talent has been slashed. Now it's all on you, and the nation is so much worse off for it.
We budget around $500/month for home things. Whether it's pressure washing, a new drainage ditch, fertilizer, a new lawnmower, a new roof or AC, painting or replacing siding, etc it all adds up over time.
A quite sensible recognition of the fact that the costs of home ownership go well beyond simply sending in the mortgage check each month. Whether one funds it or not, there is a sinking fund out there related to an entire array of home infrastructure costs. Those costs build up over the months and years until something finally gives. Some are not prepared when this happens, and some are. It's much better to be among the latter group.
So, the landlords are asking below market value. It's just like buying a facevalue playoff ticket to a professional sporting event. The franchise could charge more, but they sell it and the secondary market makes even more money because that's the real market rate.
This is a very poor description of the unbalanced market that scalpers try to create.
And if you're in such a tight market where prices go so high, I'm assuming there must be good jobs in the area to support this movement? So he or she lacks the skill set to get those jobs, and tries to cling to an area he or she can't afford?
But the conditions he described sound horrible, so it doesn't sound like a good area. That doesn't really make sense to me.
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