Renters in America are running out of options

This is becoming a problem, not for me, but I started buying houses when you could buy a three bedroom home for 11,000 dollars. Sure I had to get a mortgage, but it was affordable. I don't know where this is going right now. Are people just going to live on the streets? Is the government going to tell me that since I have a bedroom I use as an office, that has to be used by strangers. It seems unfair that some people are still building those huge mega mansion homes, while people can't afford a crummy apartment. Is everything out of whack? Or is this just capitalism working like it's supposed to?
 

Comments from Chris Mayer of Columbia University, was the usual Wall Street Real Estate financial corps spin, we need to build more, there isn't enough housing. That is because their basic economic engine is endless population growth for economic growth and development. No matter that means we will all eventually be living like in a can of sardines while the Earth's fragile incredible environment will be destroyed. And of course that is what they have been doing for 4 decades since the Reagan years when corps received all manner of corporate legislation that has changed the country in a list of negative ways. But what are they building? The vast majority is expensive upper class housing with their excuse being that is the best way for their investors to make profits. Instead they backdoor greasing illegal immigration to put pressure on the low end to force middle class folks into expensive housing they wouldn't otherwise choose given a choice. So yeah its a huge LIE they are all laughing about over we suckers while playing golf down in Palm Beach or Palm Springs.

In the interview with the Michigan gal, she related a 2012 mobile home site rent of $290/mo that has gone up to $518. Here in California urban areas all such mobile home sites once were at similar cost levels but are now well over $1k/mo, a prime factor in homelessness. Although they discussed being able to move such homes for $5k to $10k, reality is there are no more such cheaper parks in urban areas where one might move to as corporate investors have swarmed into such areas to make killings raising plot rents.

As Frank Rolfe stated, "One of the big drivers to making money is the ability to increase the rent... If we didn't have them hostage, if they weren't stuck in those homes in the mobile home lots, it would be a whole different picture."

In decades past, most parks were owned by mom and pop groups, but when Wall Street and their army of greedy investors came in, they ended that world. Will repost the below:

https://www.seniorforums.com/thread...e-among-americas-homeless.70406/#post-2069971

Wall Street corporations, REITs, banks, real estate corps and their armies of house and apartment flippers, their politicians and news media, the construction industry, are all preying on we defenseless working people caught in the middle with little leverage since we all need a place to live. And politicians ignoring laws, have made sure to let excessive numbers of low skill immigrants in to put pressure on scarce lower cost housing for our suffering lower classes causing horrible homelessness while allowing wealthy foreigners to bid up buying up real estate out pricing our middle classes. The big squeeze feeding frenzy Wall Street business news brags about to any worldwide wealthy investors. And our Ivy League elites are preaching diversity while ignoring their master's unethical game.

https://americanaffairsjournal.org/2017/11/low-skill-immigration-case-restriction/
snippet:

...that native workforce participation has steadily declined as low-wage immigration has increased and is now at historic lows. That situation tells us that immigrants are performing entry-level work that less-educated native workers are not doing, even though low-skill Americans are increasingly available to perform these tasks. The second points to an extensive ethnographic literature on employer preferences, which has not until now been brought into the debate on low-wage immigration. That research shows that businesses widely regard American-born low-skill employees as less desirable than immigrants. In addition, there is evidence that businesses actively work to recruit immigrants and avoid native workers, with black entry-level employees the least favored...
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Decades ago we had a local multi-unit conversion law allowing those living in rentals as apartments, townhomes, condominiums, to buy the unit they were living in. So many apartments became user owned. The same could and should be done with individual plots in mobile home parks, IF such parks are bought by corporate investors. There could be a government mortgage program to loan low income folks money to do so. Sounds simple doesn't it? Of course corps and their media would have a fit if anyone began talking about that.
 
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SeniorBen said:
There's also 'well regulated' capitalism, which works fairly well. Every time we move closer to a free market, disaster ensues.
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When our/usa/ and others?/ governments got involved in regulating anything, the price skyrocketed, and seems to have hurt everyone who is not rich. The rich are hurt too, by any form of greed, but that's another thread.
 
Well done Canadians!
2 more years..yes.

What US politicians ought enact but won't because those that fund them don't. Instead it is one of the last things dominant US news media will bring into public light. A complex subject I've outlined a number of times. Instead, driven by Wall Street globalists and endless growth and development interests, open borders dominates and media just manipulatively spouts, "we need more housing" and then they only ever build much expensive upper class housing they force working middle class to go into debt for because we peons haven't any other choices. A game and we middle class workers are the foolish prey. Canada figured this out and it is working.

Canada extends ban on foreign ownership of housing by two years

https://www.reuters.com/world/ameri...gn-ownership-housing-by-two-years-2024-02-04/
 
David777 said:
Well done Canadians!
2 more years..yes.

What US politicians ought enact but won't because those that fund them don't. Instead it is one of the last things dominant US news media will bring into public light. A complex subject I've outlined a number of times. Instead, driven by Wall Street globalists and endless growth and development interests, open borders dominates and media just manipulatively spouts, "we need more housing" and then they only ever build much expensive upper class housing they force working middle class to go into debt for because we peons haven't any other choices. A game and we middle class workers are the foolish prey. Canada figured this out and it is working.

Canada extends ban on foreign ownership of housing by two years

https://www.reuters.com/world/ameri...gn-ownership-housing-by-two-years-2024-02-04/
Click to expand...
A second recent change by the Canadian Federal Government was to reduce the annual intake of International Students . Instead of 600,000 per year, the number for 2024 and 2025 will only be 360,000 per year. This will help somewhat to reduce the strain on our rental housing situation. link. Canada to stabilize growth and decrease number of new international student permits issued to approximately 360,000 for 2024

In my jurisdiction, the Province of Ontario, rents can only be increased by a small amount per year. In 2024 that maximum amount of increase is 2.5 percent per year. Property owners can ASK for permission for a greater increase based on the cost of actual physical improvements made to rental units. The request is made to the Ontario Land Lord and Tenant Board, who decide if the increase is warranted, or not. The OLLATB is the ultimate decider in all matters, between Land Lords and their tenants in Ontario.

The ONLY reason for a tenant to be evicted is for "failure to pay rent on time " OR if the property owner wants to occupy the unit, themselves. In that case, the property owner must give a 90 day written notice to the tenant. Rent controls have been in effect in Ontario since 1944. It works for us. JimB
 
JustDave said:
This is becoming a problem, not for me, but I started buying houses when you could buy a three bedroom home for 11,000 dollars. Sure I had to get a mortgage, but it was affordable. I don't know where this is going right now. Are people just going to live on the streets? Is the government going to tell me that since I have a bedroom I use as an office, that has to be used by strangers. It seems unfair that some people are still building those huge mega mansion homes, while people can't afford a crummy apartment. Is everything out of whack? Or is this just capitalism working like it's supposed to?
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I agree đź’Ż
 
Just Dave. Homeownership rates in the USA have been steady since 1960, at 65 percent. For those Americans over age 70 that number is 72 percent. So it is obvious that many Americans own their home. You use the term "unfair that some people are building those huge mega mansion homes ".

Ask your self this question......Are you jealous of them ? I think that those who can AFFORD to build such homes are helping the US economy, by employing the workers who build the house, and the companies that supply the hundreds of thousands of dollars worth of materials that go into the construction of the house. Add to that the annual property taxes they pay to the muncipality and the state. You talk about buying a house for 11K dollars? How many decades ago was that ? JimB.
 
Without the constant pressure of full cash buyers on our residential real estate, ridiculously inflated prices would eventually drop significantly. Currently in the USA there has just been limited legislation mostly in limited counties or states with those in Florida receiving the most news. There is also hidden foreign money invested in REITs that in the USA conceals the amount of actual foreign money because they don't make direct home purchases.

Home Prices, Inventory Force Foreign Buyers to Retreat

Following is an example of the greedy mindset of realtors that want an open market and why doing so here in the USA would be much more difficult than in Canada:

How DeSantis’ ban on Chinese homeownership has affected buyers and real estate agents 3 months in
 
David777 said:
Without the constant pressure of full cash buyers on our residential real estate, ridiculously inflated prices would eventually drop significantly. Currently in the USA there has just been limited legislation mostly in limited counties or states with those in Florida receiving the most news. There is also hidden foreign money invested in REITs that in the USA conceals the amount of actual foreign money because they don't make direct home purchases.

Home Prices, Inventory Force Foreign Buyers to Retreat

Following is an example of the greedy mindset of realtors that want an open market and why doing so here in the USA would be much more difficult than in Canada:

How DeSantis’ ban on Chinese homeownership has affected buyers and real estate agents 3 months in
Click to expand...
I will point out that there is a distinct difference between the Canadian Federal Government, and that of the United States. In it's most simple term, the Canadian Federal Government is a strong central power that can and does pass laws that cover all of our country. The USA has to contend with 50 different States, every one of which can set their own regulations, which creates a patchwork quilt of regulations. JimB.
 
jimintoronto said:
I will point out that there is a distinct difference between the Canadian Federal Government, and that of the United States. In it's most simple term, the Canadian Federal Government is a strong central power that can and does pass laws that cover all of our country. The USA has to contend with 50 different States, every one of which can set their own regulations, which creates a patchwork quilt of regulations. JimB.
Click to expand...
Government regulation in a capitalist society is extremely controversial because US capitalism was intended to be Free-Market Capitalism, aka Entrepreneurial Capitalism, where the market itself does the regulating.

Make a product people like or must have, your business thrives, set higher prices than your competition, it doesn't.

Free-Market Capitalism ensures lower prices, safer products, and innovation is limitless. Gov't regulation ensures rich get richer, poor get poorer, quality is questionable, and progress can stagnate.
 
I have lived in three different apartments and all the landlords have been wonderful. The second one looked after me as if I was their daughter. I had to move because it was built in the 1700's and it was cold and not insulated. It also had a dirt cellar and it tended to smell musty and moldy, which was unhealthy. I am now in an apartment complex with 265 units. Maintenance is a quick call and the staff are friendly and helpful.
 

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