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CU Medallion [60043]
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Housing Stat
Apr 12, 2021, 4:14 PM
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43mm people rent their housing for themselves or family. Right now, 9mm of those are behind and owe an average of $5k back to the owner.
That is scary. And no it’s not political. It’s just scary as heck to me.
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Heisman Winner [119749]
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Joe will fix it ??***
Apr 12, 2021, 4:17 PM
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Hall of Famer [21579]
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I fail to recall Trump's plan for this....what was it again?***
Apr 12, 2021, 4:24 PM
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All-In [42907]
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Lot o points [155973]
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Oculus Spirit [75725]
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Save your monies and be ready to buy a place once the
Apr 12, 2021, 4:27 PM
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owner defaults.
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All-TigerNet [11640]
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All-In [38514]
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Yet real estate is a seller's market.
Apr 12, 2021, 4:37 PM
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I've no idea how this can even correspond with what you posted.
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Oculus Spirit [79260]
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Also scary is housing prices
Apr 12, 2021, 4:38 PM
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In my neck of the woods shiz going for $100K over real value on average. My current house is $100K more than I paid like 5 years ago. The house I sold before that is like $80K over what I sold it for 5 years ago. What happens when all this adjusts and people's home values are less than the loan?
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All-In [34598]
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well, duh, we'll keep printing munny***
Apr 12, 2021, 5:14 PM
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Lot o points [155973]
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uh oh.....this is going wrong bored pronto.***
Apr 12, 2021, 5:17 PM
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All-In [40656]
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Real estate/mortgages/rent is now off the board here?***
Apr 12, 2021, 5:21 PM
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Lot o points [155973]
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From the very 1st reply....***
Apr 12, 2021, 5:24 PM
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All-In [40656]
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You read what he says?***
Apr 13, 2021, 8:34 AM
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Lot o points [155973]
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Re: You read what he says?***
Apr 13, 2021, 8:37 AM
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Oculus Spirit [97746]
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Why I'm not in the real estate bidness like my parents were
Apr 12, 2021, 5:18 PM
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What's that about 20% behind on rent, sounds about average I guess. I dunno, but my parents were forever trying to collect rent. PLUS, to evict someone, they have to be a full month behind on rent, then you have to file papers in the magistrates court, they have to be served, then you have to wait for a day with less than a 20% chance of rain to put their stuff out. When all is said and done, you're out 3 months rent, security deposit covered a month of that, then repairs/cleaning was another month, so it cost 3 months rent to boot someone. And they knew that, and would move out just before the date their stuff was to be removed.
Then you had the renters who would get a month behind, then pay up again for a few months, then skip a month, then pay normal again, then skip a third month, then you went to evict them, and bewm, out three months rent over 6-8 months time.
Nope, nope, nope. Not for me. Parents sold all their rental properties they planned to use for retirement income. Between 20K a year in property taxes, all the hassle, and losing money, they bailed.
Just if you want to know why rent is so high, you have to build in the non-payers into the rent, just like medical providers do. So it gets insane.
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All-In [46825]
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My in-laws are in this business. They have a resident
Apr 13, 2021, 9:19 AM
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who they are trying to evict because he has 20 cats living in the house and it is destroying the place.
He requested a jury trial.
So now they have to pony up thousands of dollars to lawyers (thankfully they have one on retainer so the cost isn't as much) just to get this guy out so they can burn the place to the ground.
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Oculus Spirit [97746]
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Male cats = instant eviction
Apr 13, 2021, 9:31 AM
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Parents had one apartment, two portly lesbian psychopath hoarders, who had who knows how many MALE CATS.
One was arrested. The lonely one left ended up being admitted to a psych ward and was institutionalized. Found this out after non-payment of rent. So eviction. Done. Go into the place and you literally could not walk. There were bottles of lithium all over the place. About a dozen or so dildough's of every imagineable assortment. Total wreck. WORST PART was the cat pee, oh and a dead cat as well, but there HAD to be more in there. Paid someone to clean the place out. Paid carpet cleaner to come out. Still reeked of cat pee. Ripped up the carpet, STILL smelled. Ripped up the subflooring, replaced that, then new carpet and paint. Then rented it to a nice little old lady in her 60's.
She had 3 sons who lived with her. Neighbor said she was a drug dealer. She always paid her rent on time. Always paid cash. It was such a blessing to have someone who paid their rent on time. Was so wonderful we ignored the crazy neighbor. Well, one day a SWAT team descended on the apartment. Found a dozen microwaves inside, crack, etc. Arrested the lady and her sons. In the process they absolutely destroyed the building, ripped the walls off looking for drugs. Ripped the ceiling down.
That was the official end of the parents dream of retiring as slum lords.
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Oculus Spirit [75725]
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All of that mess is why I didn't
Apr 13, 2021, 9:23 AM
[ in reply to Why I'm not in the real estate bidness like my parents were ] |
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try to rent my place in Charleston. I like the idea of having some rental properties but they would need to be all paid for. I don't want to have to trust a renter to make sure a mortgage is paid.
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CU Medallion [50635]
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all rents current
Apr 12, 2021, 7:55 PM
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Heisman Winner [136000]
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They all know you’re a baaaaaad man***
Apr 12, 2021, 8:23 PM
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Oculus Spirit [81078]
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I'd really like to read FBcooch's take on the value of the
Apr 13, 2021, 9:01 AM
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dollar, inflation, and how its is affected by the global trade imbalance, and how all that is related to core inflation, vis-a-vi housing prices.
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All-In [46825]
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We are looking at retiring eventually to a cabin
Apr 13, 2021, 9:21 AM
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in the mountains.
Where is the most expensive place possible to rent an airbnb for 10 years?
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Oculus Spirit [81078]
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Who knows? I may not even be alive in 10 years.
Apr 13, 2021, 9:28 AM
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But if I am, I'll be living somewhere warm near a beach.
How about you? Still living in the corridor of shame?
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All-In [31520]
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Oculus Spirit [75725]
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Somebody rigged the system.
Apr 13, 2021, 9:40 AM
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A fella can't just go all Jeremiah Johnson any more. Guy made a pretty good life for himself, before the whole burial ground thing. Now you'd just be thought of as a loon.
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