15 Aug 20
@earl-of-trumps saidThe people will never get the home in the first place. The landlords drive up the price of housing by buying up housing before regular people can get to it.
They'll always be that segment of society that will sell their home ASAP to get the
cash. And there will always be advantageous people right there to buy it from them.
@divegeester said
Maybe in the Mickey Mouse dystopian mind control state where you live, but where I live people work hard to buy a property, do it up and rent it out.
https://laist.com/2020/05/28/will_corporate_landlords_gobble_up_homes_during_downturn_california_politicians_are_concerned.php
The emergence of corporate landlords is a modern phenomenon. The term generally refers to Wall Street and private equity-backed investors that snapped up single-family housing in the years after the Great Recession.
They're not your traditional "mom and pop" owners — instead these entities own and operate rental housing on a massive scale. Companies like Invitation Homes and American Homes 4 Rent have amassed tens of thousands of homes across the country, including portfolios in Southern California.
The companies bought homes at fire-sale prices after 2008, including many that had recently been foreclosed on. The federal government sold thousands of homes to large investors, and in local markets well-financed corporations could outmuscle aspiring homebuyers by paying cash.
At the same time, advances in technology made managing these growing, scattered portfolios simpler and more efficient.
16 Aug 20
@averagejoe1 saidI'd have him pay a lot of taxes to pay for the police services he requires as well as to provide for the homeless that he is helping to displace.
If Wolf owns 40 apartment units, and collects $40,000 a month in rent, what would Suzanne otherwise have him do?
16 Aug 20
@divegeester saidhttps://www.cnbc.com/2020/07/10/looming-evictions-may-soon-make-28-million-homeless-expert-says.html
There already are enough homes, people are living in them as rented homes, the homes exist.
There will always be people who cannot afford to buy a home and therefore need to rent one.
Ask Wolfgang59 how it works he’s a socialist landlord.
16 Aug 20
@athousandyoung saidInteresting issue.
The people will never get the home in the first place. The landlords drive up the price of housing by buying up housing before regular people can get to it.
If you open a thread on it I would surely participate.
16 Aug 20
@earl-of-trumps saidWhat's there to debate about?
Interesting issue.
If you open a thread on it I would surely participate.
16 Aug 20
@athousandyoung saidMany years ago in NZ, they privatized the phone company. They did it in an extremely fair way, I thought, where every phone account holder was given a share allocation depending on a number of factors, inc how long you had held the acc.
The people will never get the home in the first place. The landlords drive up the price of housing by buying up housing before regular people can get to it.
My sister that lived in a poor area of a poor suburb, put her money straight into a savings acc. That next weekend there where booze ups all over her neighborhood.
Far to many people have no interest in having money as as soon as they get more they are in danger of losing their benefits, so they will intent will spend it.
That is why we need landlords to look after those people that want to live week to week. right now three of my kids are better of financially with the covid aid.
A large group have no/zero/zilch interest in owning property. Granted most of those or the welfare crowd but not all.
So either we all look after those that have no interest in looking after themselves, or, to be fair, are not capable, using public housing. That means that YOU effectively MUST give them a house, proportionately, or someone chooses to take the risk themselves, a Landlord, and buys one for them to rent.
I do not believe the trickle down theory as much as I believe the trickle up, it is just the way it goes and not much can be done about it. Not nothing but not much.
16 Aug 20
@athousandyoung saidThe squeeze to buying a home. Apparently. You breached the topic.
What's there to debate about?
I suppose it may intersect with homelessness too
16 Aug 20
@earl-of-trumps saidThat's not a debate topic. It's just a fact.
The squeeze to buying a home. Apparently. You breached the topic.
I suppose it may intersect with homelessness too
@earl-of-trumps saidPhasing out private landlords would be a first step towards universal home ownership.
Great idea, ATY.
Let's force all landlords to longer rent to people. Excellent! Homelessness goes away. 😏
16 Aug 20
@suzianne saidWill yes suffice? If Wolf has 40 apartment units, and reaps $40K/momth, what would you otherwise have him do? A fair question on the topic at hand.
Have you given up your alt account?
16 Aug 20
@averagejoe1 saidI reckon he should give them to disadvantaged people. Then what would happen is that some would use the equity to borrow money. That would be good yes, sharing the wealth. Then when they could/would not repay the loan wolf could buy them back again, when they default, of course, which is highly probable because they are disadvantaged, and buy them cheaper because, likely as not they would be run down, see everybody happy. Unless of course Athousandyoung visits and does the maintenance and helps with the new mortgage, yea, that would work. then they can borrow even more as values increase and athousand can pay that bigger debt. Problem solved.
Will yes suffice? If Wolf has 40 apartment units, and reaps $40K/momth, what would you otherwise have him do? A fair question on the topic at hand.
16 Aug 20
2 edits
@jimmac saidThankyou. Now. I beg you to put this in terms that Thousand and the Suzianne can understand.
I reckon he should give them to disadvantaged people. Then what would happen is that some would use the equity to borrow money. That would be good yes, sharing the wealth. Then when they could/would not repay the loan wolf could buy them back again, when they default, of course, which is highly probable because they are disadvantaged, and buy them cheaper because, likely as no ...[text shortened]... they can borrow even more as values increase and athousand can pay that bigger debt. Problem solved.
But, let us first await Suz’s response as to what could or should be done differently by the guy (Wolf) who invested in these 40 units.