This CNN Segment Made Me So Angry. I Think This Is Greed, Not Inflation.

Remy said:
This should not be allowed to happen. And it does. Like I said, I give up. What's to happen to people?
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I remember reading some history of England, and at one point a lot of the land was not owned by individuals and the people that owned the land could and did raise the rents to an unreasonable extent. The article said high rental prices were bad for the economy because money was being spent on a non-productive item (rents) and not available to be spent on productivity related items (goods and services).
At some point it got so bad that it galvanized change and somehow or other the land got removed from the big land owners/monopolizers. I would guess via taxes but maybe not, I am totally blank on how the history went at that point.
 

Remy said:
... What's to happen to people?
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Some sort of upheaval. Putin may set it in motion worldwide, but America has been headed that way without him. Corporate greed (and the bureaucrats they pay off), media manipulation ...those things and others have turned us into a ticking time bomb. The heat has been too high too long for us to do anything other than explode in some way.
 
Murrmurr said:
True, but raising a person's rent by $300 all at once is unreasonable, and it might be illegal. It's illegal to do that here in Calif.. Even if a rental is remodeled or up-dated, the owner has to give 30 days notice of a rent increase, and they can't increase the rent by more than 30% per year.
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That is still awful & outrageous.
 

Murrmurr said:
True, but raising a person's rent by $300 all at once is unreasonable, and it might be illegal. It's illegal to do that here in Calif.. Even if a rental is remodeled or up-dated, the owner has to give 30 days notice of a rent increase, and they can't increase the rent by more than 30% per year.
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I fully agree that such a raise in rental costs is unreasonable....especially for someone who might be living on a fixed income. However, these soaring housing costs seem to be a major Supply/Demand issue in the last few years. As we travel around, we used to see new housing construction nearly everywhere, but in the last 3 or 4 years, it is increasingly rare to see new housing being built. This, combined with an ever increasing population, has driven prices; sky high. Any homes that DO go on sale usually sell quickly, and for a high price...even out here in a rural area. This lack of new housing construction has led many home owners or landlords to be able to get far more for their properties than used to be the norm.
 
It doesn't matter the party or politics. I lived in Massachusetts my rent more than doubled with 30 days warning. I'd better not expand on this thought, even though I swear it is totally neutral.
 
shedevil7953 said:
I still own my home and haven't moved yet. I looked at assisted living before the pandemic and don't like the idea of living in a "walk in closet". I bitch about the maintenance but I don't have the neighbors to deal with, etc. I'll stay here until I can't but I'll get in home help first. My husband was a veteran so I can get Aid and Attendance once I have expenses to show.
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I did the thing you are supposed to do. Bought a house. The house payment was very easy for me to pay. That was the only easy part. Turned out to be a horrible mistake. I felt unsafe. Nasty neighbors. I should have never stayed 7 years. I was some sort of an anomaly as a woman living alone it seemed. I sold it and I think I'm terrified to buy again. I should have got a condo years ago. But I thought a senior park would be safer and I'd feel better. Now I can't find anything.
 
It may depend on various factors.... so many times people separate items from others....
wages go up count on those working at an apartment complex etc getting the same raise....some cities in my state have all sorts of fees and things added to multi family places like apartments etc and those cost are passed on ......
with more voters in apartments and the see levies worded as.. X amount per assessed value................. they THINK only effects homeowners until when lease renewed guess what ............that tax many of them voted on ...... is passed along as well.

REITs have grown big and they want to show the investors a profit .... when it was just single person or company owning properties ...................they could operate with slow and steady income from rent ..................but being a bigger investment that many promised big returns they are squeezing every dime out of those renting.
 
I'm pretty ignorant on how things work. But if condo complexes can have limits on how many units can be rentals and x amount need to be "owner occupied" can't something be done that houses and other properties have to be bought by people who will occupy them or also local investors. I get people buy houses and rent them out. Apartment complexes are probably bought by larger corporations.

It seems our elected officials could care less. They are all rich (some extremely filthy rich) and each party is crooked IMO.
 
Rent here in Canada can only be increased by the rate of inflation which for this year has been projected at 5.2% and that is high due to Covid etc.
However, once an apartment is vacated the rent can be increased to horrendously high amounts and that is something that needs to be controlled. It has already happened here in my building and we are shocked at the cost so we don' t dare move unless we have to😱
 
Don M. said:
I fully agree that such a raise in rental costs is unreasonable....especially for someone who might be living on a fixed income. However, these soaring housing costs seem to be a major Supply/Demand issue in the last few years. As we travel around, we used to see new housing construction nearly everywhere, but in the last 3 or 4 years, it is increasingly rare to see new housing being built. This, combined with an ever increasing population, has driven prices; sky high. Any homes that DO go on sale usually sell quickly, and for a high price...even out here in a rural area. This lack of new housing construction has led many home owners or landlords to be able to get far more for their properties than used to be the norm.
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IDK, there are new housing developments and apartments being built aplenty around here and they've all got high prices/rents like you wouldn't believe. So I don't think supply&demand are the only reason.
 
The simple matter is that the population is increasing dramatically. However, we are not building enough new apartment complexes, trailer parks and single family homes to keep up with demand.
As everyone knows, when demand exceeds supply, prices increase.

The only other way to stop these prices increases is to REDUCE the population.
You may ask, "How are we to do that?"

Several options occur to me.
1st, is a long term answer. Do as China was forced to do. Drastically limit the number of children being born to each couple. This can be done by changing the tax codes. One couple's taxes are kept at a minimum for producing one or no children. As their production of children increases, so does their taxes.
2nd is a DRAMATIC reduction in the number of immigrates allowed in each year. This, of course is a huge problem in the U.S. because of the nearly wide open Southern border. Yes, The U.S. makes a show of stopping illegals, BUT the reality is that it is too darn easy to illegally get into the U.S. The last time I happen to read, there were/are some 29 million illegals living in America. If all of those illegals were deported, millions upon millions of housing spaces would open up and the housing prices would drop dramatically.

Is any of the above likely to happen ? No, of course not. The result ? Many more millions will be priced out of their homes and then forced to live in their cars.

I hate to say this BUT we are only beginning to see the housing prices increase.
 
Although I'm sure costs have risen for her landlord, it probably is greed. Before my son and DIL moved, a couple of years ago, to an apartment a few blocks from where they were living, their rent was raised by $500 a month. I told my DIL I thought that was against the law and she agreed. But since 3 bedroom apartments in decent areas that didn't cost a fortune were hard to find, she never reported it. She especially liked that my oldest grandson had the whole remodeled attic floor which was almost like having his own apartment. Two young men had purchased the house and shortly thereafter they raised the rent. My DIL and the other tenant complained that they weren't even fixing anything. Their greed didn't do them much good because they wound having to put the house up for sale. I had to chuckle a couple of times when I went over there because I found out they kept lowering the price.
 
Many low income seniors live in mobile home parks. Below is one way per my post #13 that we are being skewered by real estate companies cozy with their back door politicians, are taking advantage of unfair governement policies.

https://www.npr.org/2021/12/18/1034...buy-mobile-home-parks-raise-rent-and-evict-pe
snippet:

Several industry insiders tell NPR that this is the way it works: When a company raises the rents and fees in a park, that increases the cash flow and makes the park more valuable on paper. So the company can then borrow more money against the property. It's similar to refinancing your house if it has risen in value and pulling cash out with a new mortgage.

So the company borrows another, say, $3 million and, cash in hand, repeats the cycle at a different mobile home park, potentially displacing more of the nation's poorest homeowners.
And the companies do that again and again — it's a cascade of borrowed money used for buying up mobile home parks. The loans often have very low interest rates because they're guaranteed by Fannie Mae and Freddie Mac — the government-backed entities at the heart of the U.S. mortgage market.
 

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