60 Minutes segment of rising rent

[Dusty Bake Activate]

 

[OfTheCross]

 

[Gritsngravy]

So what is the next step, people just start renting and not owning, more homes being built for cheap, or riots in the streets because of housing prices

 

[phcitywarrior]

So what is the next step, people just start renting and not owning, more homes being built for cheap, or riots in the streets because of housing prices

This is what it’s like in some parts of the country (Cali). Even for 6 figure earners, they can pay rent but can’t really save for a down payment.

Government will probably step in with rent caps or something of that nature, but the consumers will end up paying for it on the back end (no such thing as free lunch).

 

[mastermind]

The guy who works for the investment company needs to be incarcerated

 

[Wild self]

The guy who works for the investment company needs to be incarcerated

Shot with a shotgun, point blank range on some horrorcore shyt.


And yes, mass riots and thefts on the streets.

 

[Robbie3000]

So what is the next step, people just start renting and not owning, more homes being built for cheap, or riots in the streets because of housing prices

This system is not sustainable. Capitalism is eventually going to eat itself because there is no incentive in a market economy to do the morally right thing if it interferes with profits.

We see it the effects in health, energy and now housing. How far can they squeeze the public before people are fed up enough to take action?

 

[dora_da_destroyer]

This is what it’s like in some parts of the country (Cali). Even for 6 figure earners, they can pay rent but can’t really save for a down payment.

Government will probably step in with rent caps or something of that nature, but the consumers will end up paying for it on the back end (no such thing as free lunch).

Government, in Cali at least, made the markets even more inefficient. They overextended a lot of renter protection laws to a point of unsustainability for small landlords, even those who are resident landlords pretty much have no rights, it accelerated small owners selling to corporations and large investors who are ruthless and have the capital to withhold units from the market until their price is met...

Anyway, i think we need more 2-6 unit homes being built, usually provides the best compromise between some of the privacy, space, intimacy and community of SFHs while not wasting a large lot housing just one family and not condemning people to a life of living on top of hundreds to thousands of other people. Government could do a whole tax incentivized program for people to lift or add on to their homes to get 1-2 more private units added.

 

[PortCityProphet]

So what is the next step, people just start renting and not owning, more homes being built for cheap, or riots in the streets because of housing prices

Once these developers realize they can constantly eat off renting and have the ability to earn 300-400%more off the same home every 12 months they aint going back.
Home ownership in America is bout to drop like ass on the dance floor when back that azz up come on.

America is going to swallow itself because of greed. It can't successfully last like this.
American citizen aren't really anti authority enough to fight it either.

 

[Consigliere]

There is a slew of property in this country that is already existing and unoccupied.

I’d start there.

Seize all the vacants that are just sitting there. Put them into first time homebuyer programs.
Provide financing for rehabilitation.
Don’t let them be purchased by corporations.

The issue is less complicated than it seems. And like everything else it is a $ issue. Developers want carte blanche and tax incentives on top of the hefty profits they already enjoy.

 

[Red Shield]

Once these developers realize they can constantly eat off renting and have the ability to earn 300-400%more off the same home every 12 months they aint going back.
Home ownership in America is bout to drop like ass on the dance floor when back that azz up come on.

America is going to swallow itself because of greed. It can't successfully last like this.
American citizen aren't really anti authority enough to fight it either.

They already realized that



and yeah.. the modern american middle class is built off of homeownership..so if that gets out of reach or goes away

 

[mastermind]

Here is what Singapore did:

 

[ORDER_66]

America is beyond fukked up

 

[ahomeplateslugger]

the housing market is all bad because of these investors but his comment about millennials not wanting to own has some truth. i have friends and co-workers who are millennials and they don't want to own a house and think owning is overrated so they just rent condos or live with roommates and use the rest of their money to travel or go out.

i don't think anything can be done at this point to meet the housing demand at reasonable prices. i see homes going for 1+ million in the bay area when 2-3 years ago they were around 700k. just ridiculous.

 

[ORDER_66]

the housing market is all bad because of these investors but his comment about millennials not wanting to own has some truth. i have friends and co-workers who are millennials and they don't want to own a house and think owning is overrated so they just rent condos or live with roommates and use the rest of their money to travel or go out.

i don't think anything can be done at this point to meet the housing demand at reasonable prices. i see homes going for 1+ million in the bay area when 2-3 years ago they were around 700k. just ridiculous.

I mean who has $1M to drop on a crib like that tho???!?