I walk through the city at least a few hours a week. Every single building with residential (except sfh) has vacancies. Every single fucking one. Or at least signs announcing them.
And there are people dying on the street.
Supply outstrips demand. Maybe by a lot. And people are still dying for need. People are still working two jobs then sleeping in their cars. People are still working high paying jobs and losing half of it to rent.
There are questions a moral person can have about ‘what to do with landlords’. Questions like ‘should we torture them first’ (there are legitimate arguments against, mostly from an efficiency perspective) and ‘is physical or psychological torture more useful here?’, but at the end of the day, it all ends at the same place, and the later we start on our way, the more people will die before we get there.
I am not trying to ignore what you are saying, but every building over 10 units will probably have vacancies due to turnover, and even if they dont currently have a unit turning over they will in the near future and will be getting as many applications as they can.
And based on the other parts of your comments I dont really think you actually want a real discussion, but to be edgy.
That makes sense, they probably never take it down because a good renter is very important. If they havent filled a unit in a year, then that is just strange. Maybe they have the rent too high, not filling a unit in that long doesnt make sense.
And that’s just the one across from me. They’ve also mentioned two bedrooms on the sign, and I bet the 2 BDRM unit(s) have been the same ones the whole time too. Not to say there hasn’t been any turnover, but its not up to replacement.
Ive talked to a few people with similar stories.
And yeah! The rent is consistently too damn high! With your model, that absolutely doesn’t make sense, does it? What are some other explanations for this behavior?
There are multiple things happening here that make it complicated and there are too many unknowns. If the issue is that they cant find people that qualify due to not making enough money, then this is the government currency control issue coming home to roost, which I can explain if it helps. If its an issue where the units need to make a minimum to pay for the mortgage, then its a problem with too little supply of units to buy pushing up the cost of ownership of multifamilies. I dont know what is going on in your area.
But the post seems to be about owning SFH or something owned. That is a separate issue with similar root problems.
The word ‘house’ in OP is not necessarily talking about sfh. That’s a nitpick. Youre doing that because you don’t actually gave an explanation.
If its property taxes, why not just sell? If its not worth it to rent out? Do you not pay property tax on empty units?
‘Can’t find people that qualify’ my dude. Supply. And. Demand. Supply outstrips demand. If theres demand not being filled and supply not being used and they’re literally right next to each other, sometimes stealing the signs advertising the supply to make going without a little easier (the corrugated plastic signs are usually white. Durable, lightweight, keeps sun and water off) then maybe the entire system is broken?
Or working as intended, and these people are supposed to die, and everyone complicit in this system deserves a fucking noose, for the murders they commited, because every city in america is becoming an open air concentration camp maintained by exactly the bullshit youre espousing and the idea that ‘it could never happen to me’?
There is a series of things you are wrong about here and I dont really want to waste my time arguing. Real estate is my business and I am sucessful at it, is there any question you want answered, because I am not going to argue anymore.
Theeeere we are. So you have an interest in not seeing, and its stronger than your compassion. You identify with your Fucking job more than with your species, and fear the chance of losing some % of treats more than the certainty of people fucking dying of exposure abd pissing/shitting on the street and being exposed to countless indignities while they do it.
I walk through the city at least a few hours a week. Every single building with residential (except sfh) has vacancies. Every single fucking one. Or at least signs announcing them.
And there are people dying on the street.
Supply outstrips demand. Maybe by a lot. And people are still dying for need. People are still working two jobs then sleeping in their cars. People are still working high paying jobs and losing half of it to rent.
There are questions a moral person can have about ‘what to do with landlords’. Questions like ‘should we torture them first’ (there are legitimate arguments against, mostly from an efficiency perspective) and ‘is physical or psychological torture more useful here?’, but at the end of the day, it all ends at the same place, and the later we start on our way, the more people will die before we get there.
I am not trying to ignore what you are saying, but every building over 10 units will probably have vacancies due to turnover, and even if they dont currently have a unit turning over they will in the near future and will be getting as many applications as they can.
And based on the other parts of your comments I dont really think you actually want a real discussion, but to be edgy.
The signs saying ‘for rent’ are mostly old, many sun bleached. The one I live in has had one unit vacant for over a year.
Yeah turnover happens, but not like that.
That makes sense, they probably never take it down because a good renter is very important. If they havent filled a unit in a year, then that is just strange. Maybe they have the rent too high, not filling a unit in that long doesnt make sense.
And that’s just the one across from me. They’ve also mentioned two bedrooms on the sign, and I bet the 2 BDRM unit(s) have been the same ones the whole time too. Not to say there hasn’t been any turnover, but its not up to replacement.
Ive talked to a few people with similar stories.
And yeah! The rent is consistently too damn high! With your model, that absolutely doesn’t make sense, does it? What are some other explanations for this behavior?
There are multiple things happening here that make it complicated and there are too many unknowns. If the issue is that they cant find people that qualify due to not making enough money, then this is the government currency control issue coming home to roost, which I can explain if it helps. If its an issue where the units need to make a minimum to pay for the mortgage, then its a problem with too little supply of units to buy pushing up the cost of ownership of multifamilies. I dont know what is going on in your area.
But the post seems to be about owning SFH or something owned. That is a separate issue with similar root problems.
The word ‘house’ in OP is not necessarily talking about sfh. That’s a nitpick. Youre doing that because you don’t actually gave an explanation.
If its property taxes, why not just sell? If its not worth it to rent out? Do you not pay property tax on empty units?
‘Can’t find people that qualify’ my dude. Supply. And. Demand. Supply outstrips demand. If theres demand not being filled and supply not being used and they’re literally right next to each other, sometimes stealing the signs advertising the supply to make going without a little easier (the corrugated plastic signs are usually white. Durable, lightweight, keeps sun and water off) then maybe the entire system is broken?
Or working as intended, and these people are supposed to die, and everyone complicit in this system deserves a fucking noose, for the murders they commited, because every city in america is becoming an open air concentration camp maintained by exactly the bullshit youre espousing and the idea that ‘it could never happen to me’?
There is a series of things you are wrong about here and I dont really want to waste my time arguing. Real estate is my business and I am sucessful at it, is there any question you want answered, because I am not going to argue anymore.
Theeeere we are. So you have an interest in not seeing, and its stronger than your compassion. You identify with your Fucking job more than with your species, and fear the chance of losing some % of treats more than the certainty of people fucking dying of exposure abd pissing/shitting on the street and being exposed to countless indignities while they do it.
What would you call someone like that?