Well, you made multiple statements without nuance or data or links. For example "rents go up" is not a nuanced statement, rents have risen at rate over 3x the norm. You also started by trashing the thread, I didn't see a thread on the topic of "housing crisis" so that's why I made this one, feel free to add or talk about whatever aspects you have thoughts on. I don't know much about the investment firms and interest rates I will have to educate myself on that.
In my recent personal experience and anecdotal evidence, I haven't seen that in Minnesota or Florida. Not to say that isn't going on, but in selling and buying homes, it's mainly just people selling their house and buying another that I and my realtor friends have experienced. That being said, if I didn't mind the hassle, I'd be buying a few houses to rent out.
I think (for what it's worth) it would be much better to narrow the focus to context-specific and location-specific examples and discussion, rather than blanket statements (not yours necessarily) like 'people shouldn't be allowed to buy multiple homes while others are homeless' . . . that's just kind of stupid. Like arguing folks shouldn't go for seconds at the buffet table while there are people starving in the world
for the fairly large number of folks I know who do this, the hassles are frequent and heart-breaking . . . not to mention wallet-breaking
Talking about housing and Minny, I feel like @rocketsjudoka could have some interesting thoughts on the subject
Yeah... we sold our MN house this past week. We had been renting it to our friend's daughter for $500/month since we moved to Florida. Could have easily gotten $2000/month. One less headache to deal with. We bought a rental in FL that we rent to our granddaughter and a roommate for $1500/month. Could probably get close to $2000 for that one as well. But... it is an additional headache.
the vandalism and property damage stories I've heard pretty much convinced me it's a losing proposition for most small-time landlords
Mizuho analyst is also claiming the rent increases will eventually register in the CPI numbers for the next few months. www.wsj.com /amp/articles/house-rents-pop-up-as-new-investors-pile-in-11630402201
That’s not the rules of capitalism If two skinny kids can’t eat burgers cause their parents are deadbeats Doesn’t make you guilt trip you are eating a double bacon cheeseburger
Our governmental system is (supposedly) democracy not capitalism. Our economic system is a mixed system. That’s why skinny kids get food stamps. Same for the Netherlands, we have same options on the table if we chose so
I know that’s not the rules of capitalism, but who cares if the system can be improved are you not going to do it? Lots of things aren’t capitalism in government
Surprisingly yes, inventory is atrocious right now in Houston... I've seen offers up to 20k more than listing price and still not get the home, this market is crazy....
It’s actually just money The thing actually makes the world turn not politics Example Lots of Chinese billionaires buying property all Over the world Communist regime ? Yeah buts it’s about cash
Big corporations shouldn't be allowed to add new employees while there are smaller companies out there that lack workers
Rents have been rising quite a bit in Minneapolis and while this city is still affordable compared to the places on the coast or even Austin my understanding is that it is much higher. Homelessness is a problem here and there is a housing shortage. In recent years we have seen a boom on new apartment and condo construction. I'm currently working on a new apartment project and even though this isn't an area that I have worked on previously have worked on three in the last two years. Minneapolis also recently changed their zoning plan to encourage more high density housing allowing properties that were previously zoned for single family housing to be able to have up to four units. While I personally haven't worked on one of those I've had a lot of inquiries from homeowners about converting their houses to duplex or quadplex. For the Dutch laws this sounds like anti-gentrification law to keep investors from pricing out lower income buyers and anti-slum lord law to keep investors from buying up many low income properties and controlling that market. I've heard of similar laws and know they have been considered here in the US but I think they will have mixed results. Laws like this and rent control to me seem like shortsighted solutions in that they might freeze rents they do nothing to address longterm increase of housing stock and reduce the impetus of landlords to improve properties. My own view is that rather than try to control the market by preventing new buyers or artificially holding rents low is instead for governments to incentivize building more housing stock at all levels. While there is plenty of drive to building higher end apartments, condos and homes with government and private investment more affordable housing can be built. Near where I live Native Americans groups are in the process of building new affordable apartments with help from government programs. Further there should be more of a push for getting people buying into homes so they can build up equity rather than just renting. This can address longterm poverty and help break the cycle of poverty by turning one's home into an investment rather than just paying for shelter.
