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This government in particular is a diastder to the real estate market in general; now they're considering outlawing seller financing, which is preposterous.
The former government was even a bigger disaster and anyway, and maybe they are doing a better job than lots of apartment management companies. What I read there on apartmentratings.com is disgusting often enough. We are renters and it isn't that easy to find decent landlords anyway. And investors have only interest to get money out of the tenant and put little money into the rental to keep it up to date and decent. We were lucky up till know when we were renting houses for private landlords, but we rented twice an apartment and got ripped off. We pay our rent always on time, keep the rental clean, our dog is very well behaved and thank God our last two landlords were great. But now we are looking to relocate and the worries begin again.
I guess it isn't easy to be a landlord in America, but be a renter is not easy either.
If the government would get decent management companies for the foreclosed houses to be rentals, maybe the rental market would get better too. I think that idea is better than let tons of houses be sitting empty.
It is a bad idea. They will probably rent to people that receive rental assistance and destroy the neighborhood. I would rather they price it low and let some hardworking modest earner buy it.
As long as the govt adhere to the same rules and codes as they expect private LLs to, why not? Hardy har har.
Seriously I would send the fire marshal in to inspect them and if they are not up to code, give them the laundry list of things that need to be repaired or replaced before they can be rented. It irks me no end that our local post office has deteriorating paint literally falling off the frame from the front doors on the exterior. And the guards, railings? What guards, railings! I guess since it's not a rental unit that the Fed is allowed to let the building fall apart and not meet current building code.
Maybe in wealthier regions the foreclosed houses would be fine, but there is no doubt in my mind that if someone in my neck of the woods let their home get foreclosed on, they also did not perform derferred maintenence (read - they let it slowly fall apart). I see houses with caution tape in the front yard and tarps over what is left of the rooves. I strongly suspect that the ones that look ok on the outside have deficiencies on the inside.
Of course I'd much rather see those homes go to homeowners, who are grateful to get an affordable home, and plan to stay there long term and love the house, and improve the neighborhood. But it's not at all uncommon for investors to snap up foreclosed homes, and turn them into rentals. So why not the government as the investor/owner? And maybe... they will let the renters buy the house at some point?
What if a renter wants to stay there long term and love the house and improve the neighborhood?
Perhaps this is something government CAN do better than the private sector. I'd love to be able to buy the house at some point but I know I'll never get that opportunity from an investor - all I'll get are rent hikes and displacement.
What if a renter wants to stay there long term and love the house and improve the neighborhood?
Perhaps this is something government CAN do better than the private sector. I'd love to be able to buy the house at some point but I know I'll never get that opportunity from an investor - all I'll get are rent hikes and displacement.
Some how that investor found a way to buy his first property are we that much smarter then you
It is a bad idea. They will probably rent to people that receive rental assistance and destroy the neighborhood. I would rather they price it low and let some hardworking modest earner buy it.
What my concern is that this will be another government run disaster and if HUD homes and Sect. 8 are any example of how the gov will handle these millions of rentals, then yes the homes will fall into the slum catagory in short order.
It is a bad idea. They will probably rent to people that receive rental assistance and destroy the neighborhood. I would rather they price it low and let some hardworking modest earner buy it.
Dirty little secret of public housing:
It used to be a decent place for working class families to live. This is because public housing once had MINIMUM income requirements which kept out the welfare class. In the '60s a "welfare rights" movement pressured Congress into eliminating these minimum income requirements, which opened the floodgates to the entitlement class, leading to working class flight and the wholesale takeover of public housing by the welfare class.
Some how that investor found a way to buy his first property are we that much smarter then you
Absolutely not, but you ARE much better supplied with cash and credit than I.
Back in 2007, after a couple years of my phone ringing off the hook (mortgage telemarketers) I took up a telemarketer on his claim that even I could get a mortgage. (That still seems to be the popular conception, that anyone who could fog a mirror could have gotten a mortgage in 2006-2007.)
Well he was wrong and I was right, so I don't see any way to buy a first property.
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are we that much smarter then you 
