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Rising Rents Are Pushing More Tenants Past the Breaking Point

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Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#11

Post by switch007 »

hackermailman wrote: post #10

Rising rents doesn't seem to effect the number of applicants though, every time I've viewed a place here there was a lineup of 20+ other renters there waiting as well. They pushed us through in under 10 minutes then another 20+ people showed up for the second appointment already gathering outside. There was no time to dispute the lease they dangled which stipulated you had to vacate the day the lease expired in order…

I wonder if breaking point be when rents exceed the means of 2 people? Something like 60% of their combined take home pay.

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#12

Post by acomjean »

maxxxxx wrote: post #6

Seems the economy is finding the sweet spot where education, housing and health extract the maximum amount of money from people right before they break. Finding that spot while a avoiding a revolution has been the biggest challenge for ruling classes throughout all of history.

I think some of this stems from income inequality and access to a lot data. so those with extra money are looking to real estate as an investment, and the data allows them to extract maximum money from people till they break.

I'm in the Boston area. Living in a place I couldn't afford if I hadn't bought it 10 years ago. I'm wondering how much of this squeezing maximum profit from renters hurts local businesses as they're profits go to rents, and the people living in the area can't afford things because of high rents.

I think a political solution is inevitable.

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#13

Post by pythonaut_16 »

hackermailman wrote: post #10

Rising rents doesn't seem to effect the number of applicants though, every time I've viewed a place here there was a lineup of 20+ other renters there waiting as well. They pushed us through in under 10 minutes then another 20+ people showed up for the second appointment already gathering outside. There was no time to dispute the lease they dangled which stipulated you had to vacate the day the lease expired in order…

If the rents are high everywhere but you can still pay and you have no other options, what other choice do you have? I think in a lot of cases the choice people make is to suffer through the rent until they can either afford property or maneuver their career to let them live in lower cost areas.

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#15

Post by refurb »

_wc0m wrote: post #9

Rent is an amazingly effective means of redistributing wealth upwards. I have easily paid over £100k rent in my life, always to people substantially richer than I am. Always enjoyed this Churchill quote - from 1909! Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains -- and all the while the landlord sits s…

I guess it depends where you live. Not all landlord make money on their property.

I've had two landlords so far that lost money on their properties due to a combination of falling home prices and a depressed rental market.

It was actually a wealth transfer from them to me!

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#16

Post by [deleted] »

_wc0m wrote: post #9

Rent is an amazingly effective means of redistributing wealth upwards. I have easily paid over £100k rent in my life, always to people substantially richer than I am. Always enjoyed this Churchill quote - from 1909! Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains -- and all the while the landlord sits s…

[deleted]

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#17

Post by mousa »

acomjean wrote: post #12
maxxxxx wrote: post #6

Seems the economy is finding the sweet spot where education, housing and health extract the maximum amount of money from people right before they break. Finding that spot while a avoiding a revolution has been the biggest challenge for ruling classes throughout all of history.

I think some of this stems from income inequality and access to a lot data. so those with extra money are looking to real estate as an investment, and the data allows them to extract maximum money from people till they break. I'm in the Boston area. Living in a place I couldn't afford if I hadn't bought it 10 years ago. I'm wondering how much of this squeezing maximum profit from renters hurts local businesses as the…

Probably doesn't hurt business as the new people who rent there will have more money

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#18

Post by raverbashing »

_wc0m wrote: post #9

Rent is an amazingly effective means of redistributing wealth upwards. I have easily paid over £100k rent in my life, always to people substantially richer than I am. Always enjoyed this Churchill quote - from 1909! Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains -- and all the while the landlord sits s…

Municipal tax based on the value of the property, due every year

But then again, if people they can't afford the rent, they won't pay (or they find different arrangements), landlords who think their tenants have infinite money are in for a (bad) surprise

Re: Rising Rents Are Pushing More Tenants Past the Breaking Point

#20

Post by mindcrime »

_wc0m wrote: post #9

Rent is an amazingly effective means of redistributing wealth upwards. I have easily paid over £100k rent in my life, always to people substantially richer than I am. Always enjoyed this Churchill quote - from 1909! Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains -- and all the while the landlord sits s…

So what's your point? Do you want to eliminate rent? Should people who either can't afford to purchase a house, or who simply don't want to, be forced into homelessness?

Personally I've paid over $115,000 in rent over the past 12 years, but I don't begrudge my landlord their money. I attained utility in exchange for the rent I paid, and have no problem with the arrangement. Not, of course, to say that I'm happy when rent goes up. But it's a conscious choice I make to live this way, not some sort of exploitation.

He renders no service to the community, he contributes nothing to the general welfare

Housing isn't a service that contributes to the general welfare? I call bollocks.

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