so you bought a house you never planned to live in solely to make money, "owned" it for 17 days, and you think that......doesn't help my argument?
May need a place to stay; Landlord threatening eviction for asking for repairs
- Thread starter joegrizzy
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dude you are poor too. you don't get it. you aren't rich. wealth is literally unfathomable. that's my point. i know people who are rich. you aren't lol.
they don't brag about owning homes LOL
Help your argument? LOL You're not making an argument. You are proving how ignorant you are. No one in this thread has questioned that. You are 20 pages past that point by now.
I've bought lots of properties I've never planned on living in. Even the first house I bought I never planned on living in. When I paid $29,900 for a 2/1/1 in Midwest City, it was to make it a rental property. At the time I was married with a kid and we lived in a rent house ourselves. I was both paying and collecting rent. The first house I bought to live in myself, was actually my second house purchase. I bought a few more, flipped a couple then sold everything to take the equity and pay off my primary house. I paid off the 30 year mortgage in 43 months and was debt free at 35 years old.
I hope you realize I am not trying to argue with you. The last thing I'm interested in is people like yourself becoming educated, figuring out life and bettering yourself. I literally run an entire business off people making poor financial decisions. I actually need them to blame society, the financial system or anyone but themselves. I don't want them to figure out they are the product of their own decisions. I am only here to further your humiliation.
so now you admit it. that's all i've been saying. it's predatory.
I have never claimed to be rich and don't believe that I am. However, I do realize there is a difference in my kind of poor and your kind of poor.
Well it is certainly took a turn and was fun to get caught up on. I will say it is ironic that the op says nobody should have extra houses for the sole purpose of renting them out to others, then in the middle of the thread says he doesn't mind renting.
Then there is this little nugget...
If people needing a place to live is not a business model, where exactly do these houses come from? Do houses just randomly grow on trees or something?
Then there is this little nugget...
If people needing a place to live is not a business model, where exactly do these houses come from? Do houses just randomly grow on trees or something?
and that's why you are poor my man. you think we're different.
We are way different. I know where I'm living next month.
the "i don't mind renting" was in the context of people thinking i'm too poor to have other options. they probably don't know the size of the house i rent, but whatev.
we have more houses than people. we don't have all houses occupied, nor all people housed because people buy multiple properties. some people buy a whole bunch. some people panic and think they won't be able to buy one in the future so they buy one now. some people use it as a revenue stream, as many have stated here.
this is called "hoarding" when it comes to literally any other good. and most places that sell goods put purchasing restrictions in place to limit this hoarding. however, our current financial system *incentivizes* this hoarding, and thus the situation. we are now in a place wherein corporations are purchasing property en masse to abuse this system because of the obvious brain dead simple returns.
this article is old, and it's only gotten *much* worse:
How corporations are buying up houses — robbing families of the American Dream
One morning in 2012, Phoenix real-estate developer Geoff Jacobs was playing golf when he got a surprising phone call. One of his employees, trying to bid on a house they wanted at auction, told him…
nypost.com
>....in the wake of the 2008 financial crisis, corporations began buying suburban houses en masse and then renting them out, often for more than residents would have otherwise paid in rent or mortgage.
>This has become so common that, while the phenomenon “didn’t exist a decade ago,” corporations bought one out of every 10 suburban homes sold in 2018.
>Corporate homeownership can not only subject tenants to higher living costs, but often destroys their ability to buy these homes themselves, as companies pay top dollar to take them off the market.
>As a result, America is quickly becoming a renter nation.
>“Between 2006 and 2016, when the homeownership rate fell to its lowest level in fifty years, the number of renters grew by about a quarter,” Dezember writes.
>The bonanza really took off in 2011, when Morgan Stanley issued a report called “A Rentership Society.” With over 1.6 million foreclosed homes in the United States and more on the way, the report forecast “a surge in the number of renters and a potentially massive opportunity for investors to convert the glut of repossessed homes into rental properties.”
>America’s investment managers were all in. By 2012, “more than $1 billion had been raised by investors for the purpose of doing just that. Some of the biggest names in finance were hoarding houses.”
>“If homeownership falls out of fashion for even a generation, there could be dire economic consequences unless renters become diligent savers and prudent investors. If that happened on a grand scale, it would be as momentous a shift in American behavior as abandoning homeownership en masse.”
this was written years ago. look up what blackrock and even zillow itself have been doing since then. this is a new phenomenon that *first time home buyers* now have to deal with. no one in this thread has countered this, they've only shared their personal anecdotes of purchasing their first home 20+ years ago, which has no bearing on the conversation at hand.
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