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It is similar to the voters in California agreeing to cap annual property tax increases at 2% excluding voter approved measures.
One of the physicians I work for has a rent controlled unit if San Francisco paying about 30% of market... he uses it for a weekend home for himself and friends as he bought a very nice home in Alamo when he married.
Here is a plastic surgeon being subsidized by a SF property owner... just doesn't seem right but that is what can happen with rent control.
they are not price capped . they just need approval for increases as well as are not privately owned .
many utility's earn big dollars uncapped from other sources . they can sell electricity on the grid to other area's uncappd as an example , while buying power from areas like niagra power who can generate it cheaper than we can ..
phone company's are in the media,software and computer business , remember the at&t line of computers and unix ? they are competitors for cable tv now .
they all pretty much have sources of revenue in uncapped business's unlike my apartments .
In a previous post I stated that maybe govt should buy up rentals via eminent domain if the "market" is not actually in line with median income then the units would no longer be private and could be regulated like a utility ...
If the private sector wants to treat people like cattle then perhaps putting the right to rent real estate into the govt hands is the only real answer in the future when things continue to get out of hand and reach a tipping point where rent is a jillion dollars and pay is 2 cents.
If rent is a jillion dollars and pay is 2 cents, then no one will be able to afford rent, rentals will be empty and rent will come down.
If rent is 900$ and pay is 1000$ people will pay to put a roof over their head even if there disposable income is next to nothing which wrecks the economy and families.
Hence why I think it should be ran like a utility.
If rent is 900$ and pay is 1000$ people will pay to put a roof over their head even if there disposable income is next to nothing which wrecks the economy and families.
Hence why I think it should be ran like a utility.
You seem to be talking out your bum sir/madame.
Seriously though, most LLs require 3 times rent for income so incomes like you describe are a very small minority if they even do exist. The free market decides rents not LLs. If I could charge even $50 more a month you better your bottom dollar I would. The free market set the price not me.
Seriously though, most LLs require 3 times rent for income so incomes like you describe are a very small minority if they even do exist. The free market decides rents not LLs. If I could charge even $50 more a month you better your bottom I would.
Hence why I think it should be ran like a utility. I think a lot of locals could make a good push for it as well with as much income as rent is soaking out of people due to the inelasticity of it and the ballooning population in a lot of areas.
The more people I meet like you the more I hate capitalism and I don't think I am alone in that sentimate. Also the constitution does not outline that we shall be a capitalist society so that can certainly change. Capitalism only really works if all of the key items (like housing, health care, etc) stay relatively elastic, as soon as there is too much inelasticity then the human factor needs to overrule greedy opportunists.
I think investors should be able to get a reasonable ror, recover their investment costs etc but we need to have a percentage coedified in law that caps profits so that every day people are not getting soaked by greedy degenerates. Sales prices of non owner occupied units would have to be price fixed in order to meet the 10 year pay off and ROR back calculated for the average income of the area over a 10 year period. If you are getting a pay off of original investment of about 10 years and then retain that ROR adjusted for inflation then that's a good deal. Then if no one is selling and the greedy opprotunists are hunkered down that's when the eminit domain can kick in, don't like it you can get a police boot to the head. People and families don't exist to make you filthy rich.
Anything more should be criminal, its not like your inventing cold fusion, you just bought a property and maybe make a few repairs from time to time lets not pretend like land lords are brain surgeons or are putting in 40+ hrs a week to manage these properties. They CAN be greedy opportunists (I think they called them carpetbaggers) who happen to have capital to leverage (hence the word capitalism), which it sounds like you are.
Last edited by pittsflyer; 12-12-2016 at 06:53 PM..
Hence why I think it should be ran like a utility. I think a lot of locals could make a good push for it as well with as much income as rent is soaking out of people due to the inelasticity of it and the ballooning population in a lot of areas.
The more people I meet like you the more I hate capitalism and I don't think I am alone in that sentimate. Also the constitution does not outline that we shall be a capitalist society so that can certainly change. Capitalism only really works if all of the key items (like housing, health care, etc) stay relatively elastic, as soon as there is too much inelasticity then the human factor needs to overrule greedy opportunists.
I think investors should be able to get a reasonable ror, recover their investment costs etc but we need to have a percentage coedified in law that caps profits so that every day people are not getting soaked by greedy degenerates. Sales prices of non owner occupied units would have to be price fixed in order to meet the 10 year pay off and ROR back calculated for the average income of the area over a 10 year period. If you are getting a pay off of original investment of about 10 years and then retain that ROR adjusted for inflation then that's a good deal. Then if no one is selling and the greedy opprotunists are hunkered down that's when the eminit domain can kick in, don't like it you can get a police boot to the head. People and families don't exist to make you filthy rich.
Anything more should be criminal, its not like your inventing cold fusion, you just bought a property and maybe make a few repairs from time to time lets not pretend like land lords are brain surgeons or are putting in 40+ hrs a week to manage these properties. They CAN be greedy opportunists (I think they called them carpetbaggers) who happen to have capital to leverage (hence the word capitalism), which it sounds like you are.
Here in AZ our largest utility is a private company so your argument already fails at basic logic. Next up is this insane idea that anyone owes anyone a thing. This is pure Communism go to Russia and China if this is what you want, guess what it isn't those countries suck.
10 years on a return wouldn't even get me out of bed in the morning. I have capital to invest because I worked 20 hours a day 7 days a week for years to earn that capital. I put that capital to use which literally creates jobs, I have two employees and employ a number of tradesmen when needed.
I just put $8k into my lowest income rental in the form of new flooring, tile, and an entire kitchen remodel. I made and hung the cabinets myself, I am a carpenter by trade, which gave me much higher end cabinets at a lower cost than you could buy. The rent on that unit will go up nothing over last year because the family in it are great people and they work hard so they deserve it. If it were to go vacant I would squeeze every penny out of it that I could though.
You aren't a very bright special snowflake so you don't know this but my right to be a capitalist is in the Constitution check the fifth amendment among many, many other places.
Last edited by AZ Manager; 12-12-2016 at 07:52 PM..
Here in AZ our largest utility is a private company so your argument already fails at basic logic. Next up is this insane idea that anyone owes anyone a thing. This is pure Communism go to Russia and China if this is what you want, guess what it isn't those countries suck.
10 years on a return wouldn't even get me out of bed in the morning. I have capital to invest because I worked 20 hours a day 7 days a week for years to earn that capital. I put that capital to use which literally creates jobs, I have two employees and employ a number of tradesmen when needed.
I just put $8k into my lowest income rental in the form of new flooring, tile, and an entire kitchen remodel. I made and hung the cabinets myself, I am a carpenter by trade, which gave me much higher end cabinets at a lower cost than you could buy. The rent on that unit will go up nothing over last year because the family in it are great people and they work hard so they deserve it. If I wanted to I could kick them out and get $200 more a month on it, which is exactly what I will charge if it were to go vacant and people will jump at it.
You aren't a very bright special snowflake so you don't know this but my right to be a capitalist is in the Constitution check the fifth amendment among many, many other places.
Russia doesn't suck, but the language is hard to learn and I do have a copy of Pimsluer. However, the USA is just as much my country as it is yours and I feel like there are more people in my camp getting fed up with the greedy obfuscating opportunists.
Also tradesman don't want to work "when needed", most people want full time good pay secure employment and only tolerate gig employment when desperate OR if they are mostly retried and just want some additional beer money.
We are in a very exploitive market right now where a vast majority of work is "gig" work, very little full time bennifited full pension jobs with any sort of semblance of job security so people have a hard time qualifying for homes with any sort of real down payment at all with the amounts these homes are being listed for.
Congratulations you worked hard, so did I as a 10 year professional engineer but I don't think that I should be able to soak people if I buy a rental, I do think I should get a good ror as I am not running a charity but after a certain point it becomes graft in my opinion IFF (if and only if) the commodity in question is for the most part required to live (roof, food, heat, medcial, etc). If you are selling iphones and people want to pay stupid amounts more power but things that are inelastic and necessary to live I don't think our military is fighting for you to fleece people.
I think change is on the horizon and if you don't want to get out of bed for a 10 year pay off then other people can fill the gap and maybe you can go make the next iphone that people go gaga for and drop their disposable income for that's not necessary to live.
That's just my take on it and I do write my local represntitves and get good feed back, I do think it should be a state/city issue but I think most locals have more renters tired of spinning there wheels getting no where than baby boomers who were born into a lot of buying opprotunites so that will reflect policy in the future.
Also the whole communist angle is tired, so public schools, gas, water, trash, roads are all "communist" but you like those things but things that make it so you cant soak people to line your own pockets is "communism"
All work has always been and will always be gig work, you don't see it because you choose not to. Your engineer job was only there because it was needed and once it isn't needed anymore the gig is gone. Most of your list works better when run by private companies. My water, Epcof, is a private company, so is my gas line, Southwest Gas, and electric, APS. The school I will send my son to is private because even the best public schools are crap. The only thing that is city run is trash collection and that is paid to the city solely for that purpose but a private company handles it which means the city is only the middle man for the payment, $16 a month. The road my home sits on is private, I live in a gated community, and the roads connecting my community to everyone else are paid with property taxes which is close but very far from Communism.
You chose tech to compare housing to so let's go with it. If you can't afford the new iPhone then you have the option of buying last year's model or a different brand smartphone. Housing is the exact same which is why you can't compare it to food and all the other unrelated crap you listed. If you can't afford the 4k sq ft home on 10 acres then you will find a home your size that you can afford. If you want to live in a nicer home in a nicer neighborhood you will pay more for it.
Our military fights for my right to be free and if that includes charging market value for rent then that is exactly what our military fights for.
FYI I'm about to turn 32 so your woe is me baby boomers had it better line is complete garbage.
All work has always been and will always be gig work, you don't see it because you choose not to. Your engineer job was only there because it was needed and once it isn't needed anymore the gig is gone. Most of your list works better when run by private companies. My water, Epcof, is a private company, so is my gas line, Southwest Gas, and electric, APS. The school I will send my son to is private because even the best public schools are crap. The only thing that is city run is trash collection and that is paid to the city solely for that purpose but a private company handles it which means the city is only the middle man for the payment, $16 a month. The road my home sits on is private, I live in a gated community, and the roads connecting my community to everyone else are paid with property taxes which is close but very far from Communism.
You chose tech to compare housing to so let's go with it. If you can't afford the new iPhone then you have the option of buying last year's model or a different brand smartphone. Housing is the exact same which is why you can't compare it to food and all the other unrelated crap you listed. If you can't afford the 4k sq ft home on 10 acres then you will find a home your size that you can afford. If you want to live in a nicer home in a nicer neighborhood you will pay more for it.
Our military fights for my right to be free and if that includes charging market value for rent then that is exactly what our military fights for.
FYI I'm about to turn 32 so your woe is me baby boomers had it better line is complete garbage.
32 its doubtful you own these properties free and clear which means rent control would bankrupt you. There will be pain on the front end leading up to hyper inflation, thats just the way it goes. BTW 32 years old squeeking by enough to put a down on your first place hardly qualifies the ego you have.
And yes I agree massive luxury mcmansion are not basic housing but you knew that was not the argument in the first place. The only reason utilities are cheap is because they are price fixed, utility companies dont get to charge "what the market will bare" because they are considered critical services. I bet you like that $16/month which is NOT market price, not even close. Imagine if they could charge the peak the market would bare for fresh drinking water in some areas ... just let that sink in.
I dont know how basic housing ever got to become what it is today, but it is a travesty and there is alot of suffering as a result.
Also the military (really vetrans) because active military get BAH, are also the ones you are soaking, how much longer do you think the military will defend greedy crony capitalists?
You may get lucky and people may tolerate whats going on for a long time and maybe they wont. When people get uncomfortable they are less passive and take more action, notably voting. I think its past time for alot of peoples freedoms to end because the abuse in the name of capitalism is deplorable and no one has to worry about threat of death for fleecing people.
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