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It's unlikely to raise rental prices, rent is determined by supply and demand, and demand has gone up dramatically in the last 4 or 5 years, in Oakland between 2012 and 2018 rent increased by 51.1% so I don't think a 1% tax on landlords who have benefited from those kinds of increases will feel compelled to raise rent because of this tax, but one thing you can count on, if there is continued demand for housing they will definitely continue to raise rent. And you also need to look at which landlords will be impacted by this:
You said twice how demand is up and drives prices up, but still came to the conclusion that landlords won't raise rents. Apparently they will eat the cost/profit, never heard of that business model.
You said twice how demand is up and drives prices up, but still came to the conclusion that landlords won't raise rents. Apparently they will eat the cost/profit, never heard of that business model.
I said they won't raise rent because of a 1% tax on rental income over $200,000, or did you miss that part? They have profited from a 51% rent increase in 6 years, and if demand continues they will continue to raise rent, how many people's salary went up by even half of that in 6 years?
I said they won't raise rent because of a 1% tax on rental income over $200,000, or did you miss that part? They have profited from a 51% rent increase in 6 years, and if demand continues they will continue to raise rent, how many people's salary went up by even half of that in 6 years?
Not everyone bought their properties 6 years ago . You have to look at returns based on return if you bought today not 6 years ago or 30 years ago .
Fact is landlords are barely make any money on rentals buying in Oakland today .
Do some research on cap rates and expenses and get back to us . That’s why so many people are investing in rentals out of state .
Not everyone bought their properties 6 years ago . You have to look at returns based on return if you bought today not 6 years ago or 30 years ago .
Fact is landlords are barely make any money on rentals buying in Oakland today .
Do some research on cap rates and expenses and get back to us . That’s why so many people are investing in rentals out of state .
No jm, since you know all this you do the research and get back to me. Maybe you can also get data on how many landlords have bought property in Oakland in the last year or two.
Why is the proposed solution to homelessness, poverty, etc., always to tax the responsible and already contributing members of society to fund those not pulling their own weight? Why punish responsibility and reward irresponsibility? What kind of message does that send?
Why is the proposed solution to homelessness, poverty, etc., always to tax the responsible and already contributing members of society to fund those not pulling their own weight? Why punish responsibility and reward irresponsibility? What kind of message does that send?
Because the Democrats think it's always someone else's fault. No sense of self responsibility.
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