Posted on 04/11/2017 10:26:50 AM PDT by SeekAndFind
Renters will get what they pay for—if the rent reflects a dilapidated junkyard the building will deteriorate until it reaches that equilibrium.
Great, I always wanted to live in Malibu on the cheap.
Ahh, another government fix to solve the problems created by other government fixes (increased property taxes, special district taxes, utility taxes, city taxes and minimum wage increases...)
This will work out wonderfully, as soon as they make more legislation to increase taxes and regulations... Anyone care to bet how many hundreds of thousands of condos will soon be coming into creation from old apartment buildings?
I’ve already told my adult kids still living at home, “Don’t wait till you see the For Sale sign on the lawn.”
Of our 11 children, the first 5 moved out, four on their own, and one was evicted.
Our two youngest are 16 and 18, and they’re no trouble. It’s the older four at home that are problematic. They have to be out this year.
One of my sons-in-law says I should have evicted them a year ago. He’s probably right.
Sorry, that's been rented out.
One more idea by idiots.
I’d find this amusing were it not for the fact that the Red States will be required to bail out these Blue State disasters.
I have been in the rental business for many years and every year my property taxes and insurance go up. The price of repairs go up every year. Tenants seemingly cannot help themselves when it come to taking care of the property such as know holes in the doors, wall and windows. No why would rent go up? Hmmm
Here’s an Econ 101 assignment for you:
Draw the supply/demand curves that show how mass deportations of illegal immigrants are likely to affect rental prices.
Ghetto apartments everywhere if rent control happens.
Nothing will be repaired. No incentive to do so and no money to be made to build more apartments.
#2 My co-worker was able to pay just 3% down for her condo in Ventura. CA. I think that is the only way to get buyers at this point. 20% don for a $750,000 home? No way.
That's one I'm looking forward to. Real estate prices will drop once the artificial (and illegal) demand is removed, while wages will rise. It will be easier for real Americans to afford homes, even if strawberries and yard work (for those who hire it out) cost a little more.
That’s the truth. Firsthand knowledge from overrun SoCal.
I am lucky enough to have bought three homes in the last years and sold 2.
Amazing about real estate in CA, is that it is common to find most places draw full 100 down ... cash. Many, many are Chinese buyers. This is driving up prices all over CA. My home years ago sold the first few hours it was for sale. I bought a home that I was alerted that would go up for sale in 2 weeks. I would not wait. In three hours after seeing it, I made my bid and it was accepted. When i sold it, the realtor took several bids over the first week, it sold well over the asking price.
Hopefully, I have one more to buy. It’s harder to get up three floors I am in now. i would like to find a one store house.
I am lucky enough to have bought three homes in the last years and sold 2.
Amazing about real estate in CA, is that it is common to find most places draw full 100 down ... cash. Many, many are Chinese buyers. This is driving up prices all over CA. My home years ago sold the first few hours it was for sale. I bought a home that I was alerted that would go up for sale in 2 weeks. I would not wait. In three hours after seeing it, I made my bid and it was accepted. When i sold it, the realtor took several bids over the first week, it sold well over the asking price.
Hopefully, I have one more to buy. It’s harder to get up three floors I am in now. i would like to find a one store house.
Living a dozen miles west of NYC, in an area in NJ where some towns also have rent control, I can assure you that if things don’t get repaired the owner will be heavily fined. Friends have sold rental properties when they tired of tenants (regular, paying people - not Section 8) demanding they perform such simple tasks as changing light-bulbs. IIRC, buildings of three or more units are subject to the same regulations as motels.
Many of the ghetto horror stories here occur in CITY housing (there is no private owner to sue, and the city, with typical government “efficiency”, maintains nothing).
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