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Denver rent is back to 2022 prices after 20k new units hit the market

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Re: Denver rent is back to 2022 prices after 20k new units hit the market

#171

Post by susiecambria »

dingnuts wrote: post #149
ozgrakkurt wrote: post #121

Earlier quoted context omitted.

Yeah, pretty sure a government won’t bail me out if I invested in a stock so much that it would crush me if the stock went down. If buying a house is an investment and not for living, then it should be treated like it is.

people call buying a house to live in an investment but that's because they don't know the technical term is a "hedge" so you know: most localities do treat the house you live in very differently from a tax perspective than they do any additional properties you might have, because everyone is born short housing, until they own 1 place to live. so yes, the proposed bailouts up thread would be for people who bought a h…

Buying a house is more than an "investment" though: It's achieving the American dream. And while this dream might have been a farce, it's like everything else in that you hear it enough combined with not understanding the economics and policies underlying home ownership and the lie is reality.

And let's not even get to your point about hedges. I don't know many people that can define it let alone consider housing as a hedge.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#172

Post by tptacek »

hangonhn wrote: post #160
tptacek wrote: post #105

Earlier quoted context omitted.

For this argument to work you have to believe that decreasing the price of service delivery wouldn't decrease the price of health insurance. Provider costs dominate US national health expenditure, like it's not even close; it's not a full order of magnitude difference but it's close to one.

But part of the provider cost is driven by the availability of money to pay, which is part of the reason why drug costs are so much higher than in the US. For example, the doctor has no strong incentive to prescribe less costly drugs since they don't pay. The patient don't know any better and aren't the payers either. The insurance has some control over what they will pay for and how much but except for some cutting…

Drug costs are also a small percentage of the national health expenditure, which is dominated by procedures delivered in hospitals and outpatient clinics. I don't accept the logic you're using for drugs, but we don't reach that question until we figure out why the single largest health expenditure in the United States has no impact on health insurance costs, which are the primary way Americans interface with the health insurance system.

If that expenditure does impact health insurance costs, then the rebuttal given above about increasing the supply of doctors not improving affordability fails.

If you google [National Health Expenditure spreadsheet], there's an annual spreadsheet that has includes an incredible amount of detail about where we spend money, broken down in a variety of different ways.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#173

Post by itake »

izacus wrote: post #167
unsnap_biceps wrote: post #146

Earlier quoted context omitted.

Some loans require PMI if your outstanding balance is larger than the current value. PMI is very expensive and, unlike a TV or car, you might be forced to give up your house because it devalued too far and you can no longer afford mortgage and PMI. I'm not saying we shouldn't make housing affordable, but it's worth considering the impact for everyone.

Isn't that something regulation (of mortgages) solves way better than forever banning decrease in housing costs?

how would that work?

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#174

Post by throaway920181 »

scblock wrote: post #91
at-fates-hands wrote: post #44

Earlier quoted context omitted.

How far south are you? I lived in Colorado Springs for a few years as a ski bum and all my friends in Denver used to mock me driving back and forth, but my rent was almost $500 cheaper living in Springs. You're 100% right though.

Commuting from the Springs to Denver every day, so 22-23 days a month, 60-70 miles one way... Is that worth $500? Quick math: $4/gallon, 35 mpg, 120 miles a day, so $14/day in gas, plus extra maintenance, and the 3 hours a day of your life you'll never get back. Couldn't claim with a straight face myself that the math works.

If he was a "ski bum" I'm guessing he wasn't commuting to Denver, but to get to the mountains up there he'd have to drive the extra distance sometimes.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#175

Post by diogenescynic »

It's funny how for so long people fought the basic law of supply and demand and tried to force 'affordable housing' to be built exclusively, while the prices of homes skyrocketed. I think leaders knew better, but they just didn't care because they were making money on their property. It also seems like a form of generational theft from boomers to millennials. Housing supply was always being added until boomers got theirs, then they made it overly restrictive to choke supply and drive up prices.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#176

Post by russell_h »

unsnap_biceps wrote: post #146
standardUser wrote: post #110

Earlier quoted context omitted.

> You'll probably need to bail out recent homebuyers, who will be permanently underwater If you buy a house for $400k, and suddenly it is worth $300k, you don't need to be "bailed out" for your purchase decision. You should have been certain that the house was worth $400k to you at the time of purchase. Otherwise you're a speculator, and we shouldn't be bailing out speculators. It's called buyer's remorse. We accept…

Some loans require PMI if your outstanding balance is larger than the current value. PMI is very expensive and, unlike a TV or car, you might be forced to give up your house because it devalued too far and you can no longer afford mortgage and PMI. I'm not saying we shouldn't make housing affordable, but it's worth considering the impact for everyone.

I don't think lenders have any ability to retroactively require PMI; certainly no mortgage I've ever signed permitted this.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#177

Post by dyauspitr »

standardUser wrote: post #110
JumpCrisscross wrote: post #54

Earlier quoted context omitted.

> because this doesn’t magically solve the housing crisis It does. Twenty thousand units represent about 5% of Denver's housing stock [1]. Commit to adding this many units to the housing stock every year for the next 10 years and you'll have solved the housing crisis. (You'll probably need to bail out recent homebuyers, who will be permanently underwater, but that's a separate issue.) [1] http://censusreporter.org/pr…

> You'll probably need to bail out recent homebuyers, who will be permanently underwater If you buy a house for $400k, and suddenly it is worth $300k, you don't need to be "bailed out" for your purchase decision. You should have been certain that the house was worth $400k to you at the time of purchase. Otherwise you're a speculator, and we shouldn't be bailing out speculators. It's called buyer's remorse. We accept…

House owners are just going to vote for harsher impediments to building.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#178

Post by FireBeyond »

tptacek wrote: post #126
FireBeyond wrote: post #78

Earlier quoted context omitted.

You can be an NP in as few as 4-5 years out of high school with some courses. That’s to me the definition of not knowing what you don’t know. I’m a critical care paramedic who has corrected many NPs on fairly fundamental learning. I’ve found that nurses with significant field experience do very well, but there are plenty of courses who will “zero to hero” you fresh out of high school. Meanwhile, PAs go through a prog…

Doctors begin delivering clinical care in year 3 of med school. You're doing a sleight of hand with this "out of high school" thing; doctors are also educated "out of high school", the difference between the two roles is 1-2 years before clinical practice, and NPs tend to practice supervised for longer periods of time than doctors. And, obviously, NPs cover a smaller range of conditions than doctors.

No, I’m really not. You can do an accelerated RN program in 12 months - though 18 months is more common.

Many colleges offer RN to BSN courses. Some of them can be 12 months (and some less reputable places offer nine months).

Add in a one year graduate nursing degree with some electives and in some states you are now eligible to practice as an ARNP or CRNP.

I’ve personally met several NPs who are 24 years old and are practicing.

The issue is that at that point you are ignorant or often cocky about your knowledge.

Versus premed 4 year degree, med student practice in years 2 and 3 and continued hand holding through residency…? There’s just a little difference.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#179

Post by adamredwoods »

1270018080 wrote: post #101
JKCalhoun wrote: post #93

Earlier quoted context omitted.

You may object to it, but a home has been the smartest investment I've ever made.

The "fuck you got mine" attitude so many homeowners have and deliberate supply restriction to increase property values makes it a smart investment on paper, at the cost of screwing everyone else coming after you.

Due to the massive influx of wealth caused by the pandemic. Median adult wealth is made from real estate, not stocks or a golden job.

https://www.pewresearch.org/2023/12/04/the-assets-households...

In fact, I feel everyone should own and anyone with two properties should be taxed heavily.

Re: Denver rent is back to 2022 prices after 20k new units hit the market

#180

Post by angrydev »

tristor wrote: post #136

I live in Denver, I don't believe this article is true. I just got a renewal offer where they wanted to raise my rent by 30%. I have generally negotiated this down with my landlord (Greystar), but I also am well aware and they're more blatant about the fact that they use RealPage ever since the courts gave them a pass for blatant price-fixing and collusion. Greystar and two other major REITs own nearly 60% of all ren…

Greystar is a notoriously bad landlord and your personal anecdote does not change the data.
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