Rising Rents Are Pushing More Tenants Past the Breaking Point

Post by ryuker16 » Thu, Oct 26, 2017, 11:00 PM UTC

wan23 wrote: post #198

akanet wrote: post #179

Earlier quoted context omitted.

I sincerely doubt foreign purchases are the main driver of rent increase, and no study has ever demonstrated as much. The anti-foreigner mindset is extremely dangerous. Rising rents are almost entirely because of local restrictions on creating more housing. The beneficiaries of restricted supply are existing owners and landlords.

It's not anti-foreigner, it's anti-speculation. It's easy to see that home purchase prices are well beyond what any reasonable family would want to pay, and yet the prices keep rising. The problem isn't that it's foreign money coming in, it's that there's so much of it.

Post by [deleted] » Thu, Oct 26, 2017, 11:05 PM UTC

beebmam wrote: post #36

In large cities across the US (and probably most of the world), there is some very large scale foreign speculation in the housing market going on. This is leading to rising rents and rising home prices. In Seattle, for example, many (newly) wealthy Chinese people are buying houses purely for investment purposes. I know some of them. One of them has purchased 10 houses, and lives in only one of them (when they are in…

Post by ryuker16 » Thu, Oct 26, 2017, 11:08 PM UTC

rsync wrote: post #180

beebmam wrote: post #36

In large cities across the US (and probably most of the world), there is some very large scale foreign speculation in the housing market going on. This is leading to rising rents and rising home prices. In Seattle, for example, many (newly) wealthy Chinese people are buying houses purely for investment purposes. I know some of them. One of them has purchased 10 houses, and lives in only one of them (when they are in…

"To me, this is absurd. This is a human rights issue (homelessness is growing by a large amount)." Homelessness is a mental health issue. Nobody is homeless because of foreign speculators. Yes, people are indeed incentivized to relocate to housing markets that Chinese people have never heard of like, for instance, Tacoma . If those people spent half their time working and saving (like their parents did) as they spent…

Post by 3pt14159 » Thu, Oct 26, 2017, 11:21 PM UTC

akanet wrote: post #179

beebmam wrote: post #36

In large cities across the US (and probably most of the world), there is some very large scale foreign speculation in the housing market going on. This is leading to rising rents and rising home prices. In Seattle, for example, many (newly) wealthy Chinese people are buying houses purely for investment purposes. I know some of them. One of them has purchased 10 houses, and lives in only one of them (when they are in…

I sincerely doubt foreign purchases are the main driver of rent increase, and no study has ever demonstrated as much. The anti-foreigner mindset is extremely dangerous. Rising rents are almost entirely because of local restrictions on creating more housing. The beneficiaries of restricted supply are existing owners and landlords.

Post by brailsafe » Thu, Oct 26, 2017, 11:22 PM UTC

ryuker16 wrote: post #209

beebmam wrote: post #36

In large cities across the US (and probably most of the world), there is some very large scale foreign speculation in the housing market going on. This is leading to rising rents and rising home prices. In Seattle, for example, many (newly) wealthy Chinese people are buying houses purely for investment purposes. I know some of them. One of them has purchased 10 houses, and lives in only one of them (when they are in…

This is bad but much more significant is restrictive zoning laws. I live in downtown chicago where rents are reasonable and skyscrapers for living at everywhere. Meanwhile, you gotta move heaven and earth to build high density housing in some cities like SF. Even suburbs will fight 4 story apartment buildings. It's not rocket science. Let the foreigners invest in building more of them. When the crash happens, the loc…