How do you JUSTIFY raising someone's rent by $300 a month in PHOENIX?? How??? (home, to buy)

[MissMouse111]

Originally Posted by 1AngryTaxPayer

What is keeping you from buying? Even if you have to move.

Credit is not that good. I don't have the down payment (10%). I make enough for a mortgage but friends and family feel a single woman is safer in an apartment.

I think owning is the smart way to go but I've always felt houses were for families or married couples. I guess i'm "old school" in that respect. Times are a changing. That's for sure.

Tiny houses appeal to me. The minimalist in me loves that tv show.

[1AngryTaxPayer]

Originally Posted by MissMouse111

Credit is not that good. I don't have the down payment (10%). I make enough for a mortgage but friends and family feel a single woman is safer in an apartment and some of my friends feel it's dangerous for women to live alone in a house.

I think owning is the smart way to go but I've always felt houses were for families or married couples. I guess i'm "old school" in that respect. Times are a changing. That's for sure.

Tiny houses appeal to me. The minimalist in me loves that tv show.

if people would get over the stigma they can buy a travel trailer and live in a family park for pretty darn cheap.

Living in an apt complex has way more crime attached to it than a SFH. There isn't even a comparison. More people equals more crime. There is always the option of a handgun if someone feels they are in danger.

[MissMouse111]

Originally Posted by 1AngryTaxPayer

What is keeping you from buying? Even if you have to move.

I'm good right now. My whole thread was about another renter. I think the next step will be to buy.

But we are entering into a DEPRESSION. Who knows what our economy will look like by this summer?

[MissMouse111]

Originally Posted by 1AngryTaxPayer

if people would get over the stigma they can buy a travel trailer and live in a family park for pretty darn cheap.

Living in an apt complex has way more crime attached to it than a SFH. There isn't even a comparison. More people equals more crime. There is always the option of a handgun if someone feels they are in danger.

Thank you. I will take note.

Also want to thank everyone who participated in this thread. Thank you so much. It's been very informative and fun.

I think the bottom line is America is becoming CHINA and they pretty much own almost everything now.

[MissMouse111]

Originally Posted by FirebirdCamaro1220

Well, don't complain then. If you can't even support the existence of public housing, but don't like what the "free market" is doing either, don't know what to tell you....

Yeah. You're right. I shouldn't complain. I just know natives who told me that Arizona was very affordable for years. What happened?

Now not so affordable. It's doable but a struggle to keep up. I'd have to compromise by sharing a unit or improve my skills for better pay.

[Sno0909]

Originally Posted by MissMouse111

Actually, the story I presented was based on my research. I wanted to know more about the CA company that bought my current apartment complex so I checked on reviews.

Just 3 months ago, a reviewer shared her frustration over the $300 increase by this CA company. I believe it will be coming to my complex as well come this summer.

I give up.

So, let me get this straight. You write up this novel complaining about China and rent increases, all the while you are obviously becoming completely unhinged - and it's all hypothetical? Your rent hasn't even increased? Wow.

[Steve19605]

And expect to see more. Small landlords will be pushed out with the covid 19 eviction bans. And not worth the risk. And they dont have the resources.

With Larger companies this is normal. The goal of any company is to make a profit. And at todays cost of overhead, building and risk. That means renting at a higher rate.
Impossible to build or buy a multifamily at current prices and make a profit unless you charge more. Reason there is not more people buying houses just to rent out.

it is still simply supply and demand. And with Libs letting in 10's of millions of illegals we can expect the supply to get worse.

I dont blame the Landlords. Not much different than a single person that leaves a job for a higher paying one. Most do this when they can. You could say not fair to old employers whose business dos not make enough to pay a higher raise.

I blame the Liberals in goverment more. What they do to buy votes is bad longterm.
They do everything to lower supply and raise the cost of building new. Especially California. Where with the restrictions, fees and permits it cost more to build a 1 bedroom apartment than a 3 bed house in other areas.

With the business now being way more risky and millions more people to house. You can guess where prices are going.
Your case is out of the ordinary with a 300.00 increase. Give it a year or two and it will be the norm.

[FirebirdCamaro1220]

Originally Posted by 1AngryTaxPayer

Most renters have no idea what expenses go along with owning property. One unit can have a pipe burst or need to have the unit's pool fixed. Slab cracks, removing asbestos, replacing a roof. There are many things that can run into tens of thousands of dollars that would overall raise everyone's rent.


If that bothers people their heads will explode when they find out they can be fired for no reason at all.

Oh believe me, I'm a renter that does know. One of the reasons I'm apprehensive to buy. The thought of having a needed five figure repair is enough to make me turn white

[Bondurant]

Why are RANDOM words all caps?

[john3232]

Originally Posted by MissMouse111

Credit is not that good. I don't have the down payment (10%). I make enough for a mortgage but friends and family feel a single woman is safer in an apartment.

I think owning is the smart way to go but I've always felt houses were for families or married couples. I guess i'm "old school" in that respect. Times are a changing. That's for sure.

Tiny houses appeal to me. The minimalist in me loves that tv show.

Fannie Mae requires a minimum 620 credit score for fixed-rate mortgages and a 640 credit score for adjustable-rate mortgages.
https://www.lendingtree.com/home/mor...ae-guidelines/

Then...

How much of a down payment do I need for a Fannie Mae loan?

For borrowers looking to buy a single-family home, the maximum LTV ratio for most Fannie Mae loans is now 95%, which means a borrower would need a minimum down payment of 5%.


The key is to get your credit score up. The higher the score the easier it will be to get a loan with a small down payment.

However, the first thing you need to do is... stop whining. There is no need to "explain" your situation. People don't care. AZ landlord/tenant laws aren't going to favor renters or at least not anytime soon.

Now, I'll be 63 this Jan. My eyesight is getting weak and I've already begun to get arthritis in my fingers. I suspect you're half my age or younger. I have property. Money in the bank. You have youth.

I would trade it all to be broke, living in a boarding house... and 27 again.