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American landlords derive more profit from renters in low-income neighborhoods

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Re: American landlords derive more profit from renters in low-income neighborhoods

#171

Can confirm, I work for a company that helps landlords finance the purchase and repair of rental properties. In certain very LCOL urban areas around NYC and Philadelphia, we have individuals with tens of millions of dollars of property spread out among ~$150k buildings. They inspect their portfolio with armed bodyguards, and they very often own other businesses in the same neighborhoods that throw off money in small…

Funny how we have two fresh accounts posting in this discussion, one of which insists that the study authors must have an "agenda", and another of which gives an "aside" that exploitative slumlords "are almost all involved with (((close-knit religious groups)))". Sounds like the ruling class is a bit agitated that we're noticing what's going on, and wants to misdirect our attention.

On HN, please don't use quotation marks to make it look like you're quoting someone when you're not. In this case it led to a bad misunderstanding elsewhere in the thread (https://news.ycombinator.com/item?id=19470818).

Also, could you please review https://news.ycombinator.com/newsguidelines.html? You've been breaking them, and we need you to fix that. One thing they ask you not to do is insinuate astroturfing without evidence, as you did in this comment here. Plenty of explanation here: https://hn.algolia.com/?sort=byDate&dateRange=all&type=comme....

More seriously, it looks like you've been using HN primarily for political and ideological battle. A certain amount of politics and ideology is unavoidable with many topics that appear on HN, but when this crosses into being the primary reason why someone uses the site, that user has left the realm of intellectual curiosity and shifted to the battlefield—exactly what we're trying to avoid HN turning into. For that reason, we ban accounts when they cross that line. More explanation on that if anyone wants it: https://hn.algolia.com/?sort=byDate&dateRange=all&type=comme....

Re: American landlords derive more profit from renters in low-income neighborhoods

#172
post #154

Earlier quoted context omitted.

“100% occupancy, no expenses to find tenants“ You very much need to find an owner or tenant when you move out. Further, someone needed to pay to find you when you move in. Move every 3-5 years and home ownership is really expensive.

> You very much need to find an owner or tenant when you move out. Further, someone needed to pay to find you when you move in But this is true whether you buy to occupy or rent. > Move every 3-5 years and home ownership is really expensive. I'm not sure that landlords own homes for significantly longer than buyers.

Landlords sell property far less than people move. Remember, you are arguing home ownership as a strictly better deal for everyone “always a better deal” which would include people who move regularly.

Re: American landlords derive more profit from renters in low-income neighborhoods

#173
post #172

Earlier quoted context omitted.

> You very much need to find an owner or tenant when you move out. Further, someone needed to pay to find you when you move in But this is true whether you buy to occupy or rent. > Move every 3-5 years and home ownership is really expensive. I'm not sure that landlords own homes for significantly longer than buyers.

Landlords sell property far less than people move. Remember, you are arguing home ownership as a strictly better deal for everyone “always a better deal” which would include people who move regularly.

> Averaged over all 13 data points in the figure, the average expected length of stay in a single-family home is 11.4 years for first-time buyers, and 14.8 years for buyers who have owned a home before.

I'm not sure how long the average landlord owns a rental property but I would be incredibly surprised if it was longer than this.

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