So the "assesments" take on renters then?! (Lebanon: real estate market, insurance)

[algia]

We spoke with several ppl (who own homes- NOT rent their homes) and they were shocked to hear a 3/1 was listed for $1450. Their words were: "That's like a mortgage+ insurance+ taxes!!!"

When I emailed several of these people this is the response I received:
"Mt. Lebanon raised the taxes for the coming year, so rent is higher now, unfortunately."

Why is it the Renter's fault that we have to pay for this now? we did not raise your taxes, and it is beyond fair to assume that someone who is renting is a millionaire (or stupid) to pay such a ridiculous amount for such a tiny place!? (with a narrow driveway, one car garage, and not even 2 bathrooms).

If you don't want a mortgage then don't buy a house; not my fault you can't afford your payments! and definitely don't make US pay it for you; (or pay for YOUR retirement or college education!!!) We have our OWN to pay for, and IF we wanted a mortgage, we would get one. Its not that hard.

Find a job to make money at, and stop sucking at the people who DON'T want a mortgage because you think you are superior somehow. You too will be dead, and buried 6 feet underground with NONE of your POSSESSIONS around you! and remember that when you were born, you were NOT born with the "right" to take advantage of other people!!!!!!!!!!

[Burghgirl17]

Being a landlord is not a charitable endeavor. Not sure why you think a landlord should lose money so you can afford to rent there. This is silly.

This is supply and demand. Rent is that high because there are people willing to pay it. You are the one who insisted on living in a highly desirable upper class area. That comes at a cost.

Why on earth would a landlord rent for anything less than mortgage plus insurance, taxes and other expenses?

You're the one who sounds like you want to take advantage of people. You want something for nothing, or at least less than its value/cost. If you don't like it, which it seems you don't because you CONSTANTLY complain about it - MOVE!

$1450 for a 3/1 in a highly desirable area sound perfectly acceptable to me. Bet you those listings will go in no time.

[algia]

This is not Mt Lebo specific!

"Supply & Demand" is pure BS...from the same "speculators" that are raising gas prices.

WE did not raise your taxes. There is no excuse to make "US" pay for it. If you don't want to pay taxes, then don't buy a house.

[Copanut]

Maybe you shouldn't rent that house if you can't afford it.

[Kippy]

Originally Posted by algia

This is not Mt Lebo specific!

"Supply & Demand" is pure BS...from the same "speculators" that are raising gas prices.

WE did not raise your taxes. There is no excuse to make "US" pay for it. If you don't want to pay taxes, then don't buy a house.

If you don't want to absorb the cost of the taxes, whose benefits you reap, then don't rent.

[Burghgirl17]

Originally Posted by algia

This is not Mt Lebo specific!

"Supply & Demand" is pure BS...from the same "speculators" that are raising gas prices.

WE did not raise your taxes. There is no excuse to make "US" pay for it. If you don't want to pay taxes, then don't buy a house.

You obviously do not have the slightest understanding of how any business works. Being a landlord is a business.

Answer this question: Why should a landlord rent to you for a price that is a loss on their end? Please explain.

[mountainlove]

Originally Posted by algia

If you don't want to pay taxes, then don't buy a house.

In that same vein, if you don't want to pay that high of rent then don't pay it, just go live somewhere else. That's the beauty of the real estate market, you pay more in some places and areas and less in others. You, the consumer, get to decide where you want to live and how much you are willing to pay.

Do you think landlords are just going to pay for the increased taxes, or pass those raised taxes on to their tenants?

On another note, Supply and Demand is very real when it comes to setting prices. However, you bring up the example of gas prices. When considering the Economics of the gas industry an additional Economic theory comes into play called Elasticity, which show that in the gas industry the laws of supply and demand don't always work when your life circumstances dictate that you have to buy a certain item regardless of the cost (or be willing to make significant life changes). This is the elasticity of the cost for which people are willing to take. We all should ask ourselves, at what price of gas does it make sense to change our habits and start riding the bus, walking, carpooling, biking, etc to get around.

While overall we have seen a long standing decline in US gas demand, we also have to keep in mind that internationally the rise of living standards and massive automobile industry growth in China and India have driven a global demand increase. With the demand increasing and the supply not increasing, we have seen those prices increase and will see that trend continue for the foreseeable future. Global demands are slated to continue rising, and our global supplies will soon start to shrink or at the very best stay the same.

[Burghgirl17]

Originally Posted by algia

We spoke with several ppl (who own homes- NOT rent their homes) and they were shocked to hear a 3/1 was listed for $1450. Their words were: "That's like a mortgage+ insurance+ taxes!!!"

When I emailed several of these people this is the response I received:
"Mt. Lebanon raised the taxes for the coming year, so rent is higher now, unfortunately."

Why is it the Renter's fault that we have to pay for this now? we did not raise your taxes, and it is beyond fair to assume that someone who is renting is a millionaire (or stupid) to pay such a ridiculous amount for such a tiny place!? (with a narrow driveway, one car garage, and not even 2 bathrooms).

If you don't want a mortgage then don't buy a house; not my fault you can't afford your payments! and definitely don't make US pay it for you; (or pay for YOUR retirement or college education!!!) We have our OWN to pay for, and IF we wanted a mortgage, we would get one. Its not that hard.

Find a job to make money at, and stop sucking at the people who DON'T want a mortgage because you think you are superior somehow. You too will be dead, and buried 6 feet underground with NONE of your POSSESSIONS around you! and remember that when you were born, you were NOT born with the "right" to take advantage of other people!!!!!!!!!!

By the way, the part you highlighted in bold red says Mt. Lebanon. So it sure seems Mt. Lebanon specific.

$1450 for a 3/1 single family home anywhere in a decent suburb seems fairly reasonable to me.

[okaydorothy]

As a former landlord, and yes, our properties were in NY, but I hope to show you from a landlords point of view.

The taxes on our property went from $5000 to $9000 in the years we owned them. So if I kept the rent at say $1700 which it was when the taxes were $5000, and didnt raise it even though the taxes went up, i would be loosing money. Of course the rent has to go up ; everything else does.

It is a business descision. That along with the fact that many times I have had to cover mortgage payments even though the rent wasnt paid on time, or the tenant left with a lot of damage.

As long as a landlord can break even on the expenses, thats ok. But when the taxes go up, we cannot.

[algia]

"I" won't rent that house NOT because we can't afford it, we can, but because we refuse to pay an unrealistic amount versus the space it provides!

"I" am not asking a "landlord" to rent a house for less than what it's worth, I expect landlords to ask what is appropriate for the space their house provides. I am not saying that a 3/1 should rent for $20 bucks...but a normal rate for THAT kind of space (considering that in a tree bedroom home there are at least 2 adults and potentially one child) $1250 is TOPS. I don't care what your mortgage is. I did not make you get a mortgage.

"Loss at their end". Then sell it, and wash your hands.

I don't have to absorb your taxes. You bought the house, you absorb it.