Should we be saying, “It’s housing, stoopid?”

[billanole]

Remembering Maslow’s Hierarchy of needs, safe shelter ranks high

https://www.politico.com/news/magazine/2024/05/21/ramit-sethi-biden-inflation-interview-00158950

In Washington, whoever is in charge usually says: “We don’t have that many tools to make things more affordable.” It seems to me that’s probably more true for items in the grocery store than it is for housing.

Maybe. I think that housing is an incredibly complex knot that, as you pull on any one part of it, it becomes tighter. Of course we need more housing. Of course housing costs are historically high, especially for young people. But there is some validity to the fact that it’s an incredibly thorny, difficult problem.

In your draft platform, there were four or five different points, though, that involved attacking the problem of housing costs.

Oh, yeah, it is the number-one problem, particularly for young people. Housing, housing, housing. That’s it. Across the country. Americans are struggling with housing costs, and this disproportionately affects the young. It disproportionately affects the poor, and not only is housing the primary financial problem, but it’s also totally misunderstood — completely misunderstood — and intentionally so.

Is there anybody who you hear in the political world talking about housing in a way that you just feel like: “Yes, that’s a bullseye.”

 

[seminole97]

Don’t know how much control/influence the Feds have on zoning.
Gotta allow housing to be built if you’re going to keep growing the population with immigration.
I don’t think Bernie is leasing the housing he is hoarding. We need to build more.

 

[billanole]

Don’t know how much control/influence the Feds have on zoning.
Gotta allow housing to be built if you’re going to keep growing the population with immigration.
I don’t think Bernie is leasing the housing he is hoarding. We need to build more.

There is definitely a long overdue “buildout” going on in our region. Single family, condo, apartments, etc…
Hopefully prices will respond as the town I work in has the most expensive living costs in NC.

 

[billanole]

Don’t know how much control/influence the Feds have on zoning.
Gotta allow housing to be built if you’re going to keep growing the population with immigration.
I don’t think Bernie is leasing the housing he is hoarding. We need to build more.

Interesting. The Fed and Bernie first come to mind?

 

[SolarHawk]

I think a big contribution to the problem is investor groups buying up properties and renting them out. House prices are literally insane here in Tampa Bay. $500k gets you a shitbox in a questionable neighborhood. I don’t know how most people can afford to live here based on average income. Something’s gotta give.

 

[seminole97]

Interesting. The Fed and Bernie first come to mind?

The article starts: In Washington…

So yeah, they immediately brought the Feds to mind, especially that busybody, housing hoarder Bernie Sanders.

 

[billanole]

The article starts: In Washington…

So yeah, they immediately brought the Feds to mind, especially that busybody, housing hoarder Bernie Sanders.

Ah, well. You continue to be the least real life poster on multiple boards. Your faith in the invisible hand reminds me of Evangelical Christians.

 

[seminole97]

I think a big contribution to the problem is investor groups buying up properties and renting them out.

Can they demand a higher price than any other landlord?

If they were buying them up and refusing to rent them, they’d be drawing down supply. But they’re just renting them for what the market will bear, right?

 

[Chishawk1425]

I think a big contribution to the problem is investor groups buying up properties and renting them out. House prices are literally insane here in Tampa Bay. $500k gets you a shitbox in a questionable neighborhood. I don’t know how most people can afford to live here based on average income. Something’s gotta give.

Yes it has been going on since 2008 but has increased drastically since the pandemic which have dramatically raised rent and house prices.

 

[tumorboy]

Can they demand a higher price than any other landlord?

If they were buying them up and refusing to rent them, they’d be drawing down supply. But they’re just renting them for what the market will bear, right?

The problem with investor groups imo. Is they don’t have a long term interest in keeping the properties up. A lot of them are there to squeeze every ounce of profit out of the asset at the least amount of expense. Once the groups dissolve or liquidate their portfolio. They leave behind blight and ruin neighborhoods.

 

[TC Nole OX]

I think a big contribution to the problem is investor groups buying up properties and renting them out. House prices are literally insane here in Tampa Bay. $500k gets you a shitbox in a questionable neighborhood. I don’t know how most people can afford to live here based on average income. Something’s gotta give.

I drive past this neighborhood on the way to Toby’s Little Italy. These are a good example of S-box houses going for way too much money

https://www.realtor.com/realestateandhomes-detail/4330-38th-Ave-N_Saint-Petersburg_FL_33713_M52691-94806

3500 39th St N, Saint Petersburg, FL 33713 | Zillow

3500 39th St N, Saint Petersburg FL, is a Single Family home that contains 1581 sq ft and was built in 1960.It contains 3 bedrooms and 2 bathrooms.This home last sold for $390,000 in April 2024. The Zestimate for this Single Family is $390,200, which has decreased by $30,080 in the last 30...

www.zillow.com

This is probably the worst I have seen. It's probably more because it is closer to Central Ave

https://www.realtor.com/realestateandhomes-detail/2636-9th-Ave-N_St-Petersburg_FL_33713_M67975-45640

 

[SolarHawk]

Can they demand a higher price than any other landlord?

If they were buying them up and refusing to rent them, they’d be drawing down supply. But they’re just renting them for what the market will bear, right?

I’m not looking to get into a debate with you as I consider you a troll, but what do you think is the result of wealthy investor groups owning a majority of available housing in a desirable market? Also, what would be the positive effects of this dynamic? Also, GFY.

 

[seminole97]

Yes it has been going on since 2008 but has increased drastically since the pandemic which have dramatically raised rent and house prices.

The rental return for apartments in the U.S. has been steadily climbing in recent times, with the national monthly median rent for an unfurnished apartment steadily increasing since 2012. Over this period, apartment vacancy rates have been decreasing across the country, suggesting that demand outweighs supply.
They’re not holding supply off the market, so they’re not responsible for rising prices.

From the census:

National vacancy rates in the first quarter 2024 were 6.6 percent for rental housing and 0.8 percent for homeowner housing. The rental vacancy rate was not statistically different from the rate in the first quarter 2023 (6.4 percent) and virtually the same as the rate in the fourth quarter 2023 (6.6 percent).

The homeowner vacancy rate of 0.8 percent was virtually the same as the rate in the first quarter 2023 (0.8 percent) and not statistically different from the rate in the fourth quarter 2023 (0.9 percent).

The homeownership rate of 65.6 percent was not statistically different from the rate in the first quarter 2023 (66.0 percent) and not statistically different from the rate in the fourth quarter 2023 (65.7 percent).

 

[bhawk24bob]

No person or party has the political capital to address the myriad of causes that have fed into this mess for anybody that didn't own a property prior to the pandemic, and it's only going to get worse going forward.

 

[Moral]

Can they demand a higher price than any other landlord?

If they were buying them up and refusing to rent them, they’d be drawing down supply. But they’re just renting them for what the market will bear, right?

What they did was because rapacious middlemen. My old neighborhood had it happen, starter houses were instantly snagged up and converted to rentals for double what the mortgage and escrow would have been. It serves no purpose other than to enrich people that already had enough wealth to buy swaths of houses with cash. It left my old neighborhood looking much worse off as renters that were getting squeezed had settled in the area with no pride of being in an old established neighborhood.

As for Bernie's houses, he has a DC apartment, a small lake house, and his main house. For a guy that has released multiple books, has been in politics forever, and had a wife come into money, it is actually a fairly modest hoard.

I shouldn't be so surprised that you would use one of hawkeyehitman's style of talking points.

 

[Here_4_a_Day]

Do ILLEGALS take up space, yes or no?

 

[SolarHawk]

I drive past this neighborhood on the way to Toby’s Little Italy. These are a good example of S-box houses going for way too much money

https://www.realtor.com/realestateandhomes-detail/4330-38th-Ave-N_Saint-Petersburg_FL_33713_M52691-94806

3500 39th St N, Saint Petersburg, FL 33713 | Zillow

3500 39th St N, Saint Petersburg FL, is a Single Family home that contains 1581 sq ft and was built in 1960.It contains 3 bedrooms and 2 bathrooms.This home last sold for $390,000 in April 2024. The Zestimate for this Single Family is $390,200, which has decreased by $30,080 in the last 30...

www.zillow.com

Prime example of the absurdity of housing prices in this area. $400k for a shitbox in a less than desirable area. I’m not sure if this is indicative of the housing market in general, or the fact we live in one of the most desirable markets in the US currently. It’s absurd how many people are moving here daily, which I completely understand. I love St Pete and can’t imagine a better place to live.

 

[seminole97]

what do you think is the result of wealthy investor groups owning a majority of available housing in a desirable market?

They can afford to keep it desirable.
If they don’t, it isn’t, then what do they have?

Also, what would be the positive effects of this dynamic?

Housing stock has a lifespan. Deep pockets are able to renew on existing land.

 

[SolarHawk]

They can afford to keep it desirable.
If they don’t, it isn’t, then what do they have?



Housing stock has a lifespan. Deep pockets are able to renew on existing land.

Classic deflection. Answer the fvcking question or get fvcked dipshit. Oh, how’s the weather in Russia btw?

 

[Moral]

Do ILLEGALS take up space, yes or no?

They do, rent free, in your head.

 

[billanole]

They can afford to keep it desirable.
If they don’t, it isn’t, then what do they have?



Housing stock has a lifespan. Deep pockets are able to renew on existing land.

So, you are dreaming that this invester group is gonna keep the housing “desirable”?
Tell us you never rented without saying you never rented.
It is always the invisible hand with you, while never mixing in real life.

 

[TC Nole OX]

Do ILLEGALS take up space, yes or no?

Fortunately Minnesota is welcoming for immigrants

 

[Phenomenally Frantastic]

Bernie Sanders has three homes. Can’t live in them all at once. He should offer 2 of them to illegal aliens. If he doesn’t he is a selfish capitalist pig. Bad Marxist.

 

[Moral]

Bernie Sanders has three homes. Can’t live in them all at once. He should offer 2 of them to illegal aliens. If he doesn’t he is a selfish capitalist pig. Bad Marxist.

This makes you look pretty silly.

 

[TC Nole OX]

Bernie Sanders has three homes. Can’t live in them all at once. He should offer 2 of them to illegal aliens. If he doesn’t he is a selfish capitalist pig. Bad Marxist.

Really original take E-Loon Jr

 

[Phenomenally Frantastic]

This makes you look pretty silly.

This is what passes for Far Left liberal marxist logic these days. Hell if it was about a Republican it could be verbatim from one of the Liberal marxist rallies.

 

[TC Nole OX]

This is what passes for Far Left liberal marxist logic these days. Hell if it was about a Republican it could be verbatim from one of the Liberal marxist rallies.

🤣🤣🤣

 

[billanole]

Bernie Sanders has three homes. Can’t live in them all at once. He should offer 2 of them to illegal aliens. If he doesn’t he is a selfish capitalist pig. Bad Marxist.

How many houses does your boy Elon have and how many does he offer to illegal aliens?

Jeez dude. Is that where you are now?
Sarcasm, I hope.

 

[thewop]

It's probably too late to make a meaningful impact, and perhaps unconstitutional...but had we hit a pause button on foreign real estate investors buying up housing we likely wouldn't have seen near the spikes and inventory issues we did.

They really bought up a LOT of the more affordable housing and drove prices way up.

 

[billanole]

It's probably too late to make a meaningful impact, and perhaps unconstitutional...but had we hit a pause button on foreign real estate investors buying up housing we likely wouldn't have seen near the spikes and inventory issues we did.

They really bought up a LOT of the more affordable housing and drove prices way up.

I think the bigger issue is that corporate investors have targeted housing as a lucrative investment opportunity, without also “investing” in upkeep.
Who knows the real people behind the corporate money.
Their goal is $, nothing else. Many of them will chintz on upkeep, services, and communication as they turn the properties over to “management” companies who squeeze every dime out.

 

[like-woahh]

This is what passes for Far Left liberal marxist logic these days. Hell if it was about a Republican it could be verbatim from one of the Liberal marxist rallies.

You'd get much further with people if you didn't speak in ridiculous hyperbole.

The last 4-6 years really broke people's already lacking ability of nuance.

Do you just walk around mad and offended all day every day about the minor things you see?

This board is wild.

 

[SolarHawk]

It's probably too late to make a meaningful impact, and perhaps unconstitutional...but had we hit a pause button on foreign real estate investors buying up housing we likely wouldn't have seen near the spikes and inventory issues we did.

They really bought up a LOT of the more affordable housing and drove prices way up.

I actually agree with you here. It’s absurd that we let foreign interests buy property in this country. Capitalism has its downfalls, and this is one of them. It’s almost criminal we allow Chinese interests to own property here, among other countries that do no align with our values.

 

[SolarHawk]

This is what passes for Far Left liberal marxist logic these days. Hell if it was about a Republican it could be verbatim from one of the Liberal marxist rallies.

I think you should consider moving out of your parents basement and get a feel for the real world. Also, Elon would laugh at your obsession with him.

 

[billanole]

I actually agree with you here. It’s absurd that we let foreign interests buy property in this country. Capitalism has its downfalls, and this is one of them. It’s almost criminal we allow Chinese interests to own property here, among other countries that do no align with our values.

Do you think foreign countries should ban US buyers of property in their country? Both ways, amirite?

 

[IIowaFarmBoy]

Do you think foreign countries should ban US buyers of property in their country? Both ways, amirite?

Americans cant own property n Ukraine.

 

[TC Nole OX]

Americans cant own property n Ukraine.

Actually, we can. The weirdo YT influencer Johnny FD owned two condos, one of which is probably rubble, in Ukraine before he became a dual US & Ukrainian citizen. Foreigners cannot own agricultural land in Ukraine.

How to Buy Apartment in Ukraine? Legal Aspects and Regulations - CLC

We do provide comprehensive legal support for apartment purchase in Ukraine. We have more than 10 years experience in real estate law. Call us now.

en.clc.co.ua

 

[IIowaFarmBoy]

Actually, we can. The weirdo YT influencer Johnny FD owned two condos, one of which is probably rubble, in Ukraine before he became a dual US & Ukrainian citizen. Foreigners cannot own agricultural land in Ukraine.

How to Buy Apartment in Ukraine? Legal Aspects and Regulations - CLC

We do provide comprehensive legal support for apartment purchase in Ukraine. We have more than 10 years experience in real estate law. Call us now.

en.clc.co.ua

Ok, I work in ag and new about ag. Years ago looked into owning a house my 2 daughters lived in but couldnt. Thx!

 

[tumorboy]

They can afford to keep it desirable.
If they don’t, it isn’t, then what do they have?

A tax write off. After they have liquidated and or dissolved the group. They move onto another investment opportunity.

 

[uihawk82]

The article starts: In Washington…

So yeah, they immediately brought the Feds to mind, especially that busybody, housing hoarder Bernie Sanders.

Remembering Maslow’s Hierarchy of needs, safe shelter ranks high

https://www.politico.com/news/magazine/2024/05/21/ramit-sethi-biden-inflation-interview-00158950

In Washington, whoever is in charge usually says: “We don’t have that many tools to make things more affordable.” It seems to me that’s probably more true for items in the grocery store than it is for housing.

Maybe. I think that housing is an incredibly complex knot that, as you pull on any one part of it, it becomes tighter. Of course we need more housing. Of course housing costs are historically high, especially for young people. But there is some validity to the fact that it’s an incredibly thorny, difficult problem.

In your draft platform, there were four or five different points, though, that involved attacking the problem of housing costs.

Oh, yeah, it is the number-one problem, particularly for young people. Housing, housing, housing. That’s it. Across the country. Americans are struggling with housing costs, and this disproportionately affects the young. It disproportionately affects the poor, and not only is housing the primary financial problem, but it’s also totally misunderstood — completely misunderstood — and intentionally so.

Is there anybody who you hear in the political world talking about housing in a way that you just feel like: “Yes, that’s a bullseye.”

Housing is mostly a local issue as supply and demand are much different in various areas of the country, zoning and the availabilty of lots of new construction. Not everyone has to go to the local bank anymore for mortgage loans so competition should help loans be more affordable.

The Fed Govt and Fed Reserve can mainly assist with helping with interest rates, housing loans and legislation around tax relief for home owners. Any Fed Reserve help with inflation etc can help.

But regular home buyers got screwed back in 2007 -08 so people are wary

 

[billanole]

This is what passes for Far Left liberal marxist logic these days. Hell if it was about a Republican it could be verbatim from one of the Liberal marxist rallies.

Whiner