60 Minutes segment of rising rent

[ahomeplateslugger]

He a bootstrapper that believes that if you not Tony Starks making 6 figures, you deserve poverty. That type of mentality deserves a 1990 Mike Tyson style punch in the skull.

you need a hug.

 

[Wild self]

you need a hug.

Nah, PAIN needs to be felt on the rich that do these things on the working class.

 

[ahomeplateslugger]

Nah, PAIN needs to be felt on the rich that do these things on the working class.

ok, bane. good luck.

 

[mastermind]

my comment was explaining to the poster i quoted about why homes are going for 1+ million in the bay area not sure why you even quoted me with that since i never mentioned millennials in my original post.

This you?

the housing market is all bad because of these investors but his comment about millennials not wanting to own has some truth.

 

[ahomeplateslugger]

Setting aside @mastermind 's great point that not everyone is in big tech, I'd like to add onto that and say that not everyone should have to work in a high paying industry in order to have a shot at living a good life.

I hate this idea that everyone that doesn't have the personal inclination (or frankly the privilege) to go into engineering/coding/tech fields should be doomed to not be able to own homes or have nice things.

Oh, you couldn't afford to go to college. Too bad, I guess you have to work two full time jobs forever and still be broke. Oh, you could afford to go to college but chose to pursue a liberal arts degree? Terrible decision, and you should have to pay for that mistake forever."

I'm not saying you specifically are saying those things, but I do see these arguments a lot. Not everyone is meant to be an engineer. People that aren't wired for high powered jobs still deserve a chance at a decent life. And frankly I feel the same about the poorest people too. There are going to be poor people in any way we set up society. I don't think it's too much to ask that they not live in squalor.

i agree with that. people should be able to have a good quality of life without higher education or working multiple shifts to support a family. unfortunately capitalism is making it worse and politicians don't care to make things better.

i just tell people to focus on picking up a trade and invest whatever you can to grow your money.

 

[ahomeplateslugger]

This you?

alright i'm scrambled and done.

 

[phcitywarrior]

Well this story gives further validity to the world economic forum when they said you will own nothing and be happy

It's really been in plain English for the past couple of years but folks think it's a conspiracy

All of the factors to prevent people from owning any tangible assets are slowly but surely aligning. I've been saying this for a while but there's a sunset period for ownership in America and we're living in it.

 

[Gritsngravy]

Super Lowkey I think this is also a side effect of quality of life in America lowering, as places like China and India become more modern regional powers thats competition on the open market which I’m sure affects the power of the dollar and America’s ability to compete in certain fields which leads to more expensive living which the government could alleviate but we know big business have priority over citizens
I wonder what does the world look like when everybody is in the same industrial revolution, Africa isn’t far away because once they get infrastructure they going to explode like Asia did

 

[jilla82]

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?

when will yall realize a lot of this shyt is due to governments meddling

they say they are going to fix the problem...
...make it worse...
...and then tell you they're going to fix it again

Problem is folks are so married to their way of thinking they cant see whats really going on.
The issues stem from both sides

 

[Wild self]

Super Lowkey I think this is also a side effect of quality of life in America lowering, as places like China and India become more modern regional powers thats competition on the open market which I’m sure affects the power of the dollar and America’s ability to compete in certain fields which leads to more expensive living which the government could alleviate but we know big business have priority over citizens
I wonder what does the world look like when everybody is in the same industrial revolution, Africa isn’t far away because once they get infrastructure they going to explode like Asia did

It is, its a major transfer of wealth and it discourages people.

 

[SleezyBigSlim]

You can rent the American dream

 

[Serious]

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.

They passed a law to address this a few months back:

After Years of Failure, California Lawmakers Pave the Way for More Housing

 

[Rice N Beans]

Hate corporate landlords. GF's mom had the landlord there pass away, and a company swooped in to buy the rights. Rent instantly went up $400 with no changes or investments done.

 

[Dusty Bake Activate]

I’m looking at this list of where investors are mostly buying in Jacksonville in 2021.

All of these zip codes are largely poor and Black. 32209 is #1. That’s the poorest Blackest zip code

Investors are driving up Jacksonville home prices. Here's where they're buying the most property

 

[88m3]

I think in urban areas there should be some sort of large scale modern co-op/condo construction that is backed by the federal government.

I don't think private equity of any stripe should be able to own single family homes and probably even smaller commercial and multi-family buildings.

The problem is that so much damage has already been done I'm not sure how you can unwind it.