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You constantly complain about your crappy living situation because you reside with many roommates in a SFH. And you think people buying rooms should be allowed?!?
What if you bought a room in a home and then people like you currently live with (whom you describe as drunks and sex offenders) bought rooms in the home as well? Why would you be OK with living with them as owners as opposed to renters? Aren't they the same lousy people you gripe about living with now? Would you be upset if they trashed the house and caused your investment to go south? And as an owner it'd be much harder to get out from under the problem than when as a renter.
Selling individual rooms in SFHs is, fortunately, an idea whose time will never come.
I would not expect drunks and sex offenders to be buying rooms in houses. But the overarching advantage of buying that room would be a hedge against rent inflation. If I own the room, I have a locked-in historical price and nobody's going to jack up that price. The ability to lock in that price - and to escape cost increases - is what would allow me to save up money over time and to move to a better room. As long as rent goes up and up over time I cannot advance financially. It is supremely dispiriting to see owners paying less to own a house - with all the environmental and financial empowerment that provides - than I pay to rent a room.
This overcrowded house appears to be generating about $30K annually - assessment and last sale price approx 4x annual rent. Looks like someone(s) is getting a very good deal and someone(s) is getting a very poor deal.
RENTING is where you pay a premium in order to get less than what you pay for.
RENTING - OWNING = LANDLORD PROFIT
Twice I paid more to rent a room / studio than my next door neighbor paid to own a house.
That's because you choose to live in a city that has seen the highest rent increases in the nation. What you are saying is not always the case everywhere.x
I would not expect drunks and sex offenders to be buying rooms in houses. But the overarching advantage of buying that room would be a hedge against rent inflation. If I own the room, I have a locked-in historical price and nobody's going to jack up that price. The ability to lock in that price - and to escape cost increases - is what would allow me to save up money over time and to move to a better room. As long as rent goes up and up over time I cannot advance financially. It is supremely dispiriting to see owners paying less to own a house - with all the environmental and financial empowerment that provides - than I pay to rent a room.
This overcrowded house appears to be generating about $30K annually - assessment and last sale price approx 4x annual rent. Looks like someone(s) is getting a very good deal and someone(s) is getting a very poor deal.
Why not? Their incomes are probably as much as yours or even may exceed it. Why wouldn't they seek the same hedge against rent increases that you do? And you're forgetting, home expenses go up too. Taxes rise. Repairs and replacements become necessary. Who do you suppose will fund those?
IMO, if you could actually buy a room in a home, your living situation would be equivalent to what you now enjoy at the same cost, but with less control over who you live with and with greater risk of unexpected costs. Not a step forward at all. And not gonna be legal so a moot point as well.
Remember, I cannot sell them using my impaired home internet access. In order to sell them online, I have to take them to a friend's place and use his internet access, which means I am limited by his schedule and by transportation constraints. The sooner I can sell, the sooner I can pay for a decent place and the sooner I can pay off debts.
This sounds suspiciously like the scenario at your last place. A treasure trove of valuable items. A situation that requires you to go to a "friend's place" because you can't sell at yours. The dream of hitting it big with these items, and becoming rich.
Insanity: doing the same thing over and over again and expecting different results.
I rent a room in an 8-person, 3BR, 1-bath house. I have bad credit I cannot fix on my low income, so I doubt I'm going to qualify for a mortgage any time in the foreseeable future.
I do not believe this to be true. Some banks offer no-fee credit cards to practically anyone with a pulse. Their rates are high but that is no matter if you never carry a balance from one billing month to the next. As long as you only buy the things you would have bought anyway, it costs you nothing. Zilch. Zero. Zip. Nada.
If you make $15k/year I guarantee you pay ZERO. You're the leech, get comfortable with that identity.
Personal exemption for childless single $4000 in 2015, standard deduction $6300. Does not add up to $15k.
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