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Thread: Real Estate Crash thread
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06-21-2021, 09:50 AM #15326
Lots of high paying jobs, too!
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06-21-2021, 09:54 AM #15327Registered User
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06-21-2021, 09:54 AM #15328Registered User
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06-21-2021, 09:58 AM #15329
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06-21-2021, 10:02 AM #15330Registered User
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06-21-2021, 10:13 AM #15331
the whole "renting allows for mobility" argument is pure bullshit pushed by the landlords which isn't surprising considering some of the dipshits balling their eyes out about not having a pot to piss in this thread. I've never seen a rental agreement where you can just pick up and move without paying a penalty of at least 2 months rent. are you really trying to argue that you can't sell your home if you don't like the house, neighborhood, city, or state? WTF?
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06-21-2021, 10:34 AM #15332
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06-21-2021, 10:43 AM #15333
I always chuckle when people say "oh the landlord will take care of that". Have they never rented before because that shit almost never gets taken care of IME unless its a major water leak or something that will only result in further financial problems for the landlord.
Live Free or Die
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06-21-2021, 10:44 AM #15334
If your on a month to month you can give 30days notice anytime as a tenant. As the landlord you can only boot the tenant for cause, not just being a PITA to deal with. My next lease agreement will likely have all kinds of verbiage in "The Agreement" that addresses "if your a PITA" too.
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06-21-2021, 10:47 AM #15335Registered User
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There are times when homes are not selling that may force someone to take a severe beating if they are forced to sell. Walking away from a lease even if you have to pay off the entire remaining lease can be much cheaper and easier. Landlords also have a duty to try to re-rent in cases where the tenant walks, of course they don't have to make a serious effort to do so.
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06-21-2021, 10:47 AM #15336
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06-21-2021, 10:52 AM #15337
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06-21-2021, 10:53 AM #15338
Unfortunately the Idaho Association of Realtors had other ideas for our hood and passed state law banning the regulation of STR's. Real forward thinking that bunch. Did ya see US Foods is no longer distributing to the valley, now even if a restaurant can staff they can't get food. Strange times.
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06-21-2021, 10:59 AM #15339
Maybe it's different in CA, but if it's a month to month lease, EITHER party can give notice and end the agreement. Here, it's actually not 30 days out for the LL (not sure about the tenant), it is 10 days before the lease term starts. Since the "lease term" is the next month, you have to give notice 10 days before that starts, so basically 40 days notice.
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-21-2021, 11:00 AM #15340
I realize there are some powerful lobbying groups that would advocate otherwise, and have done so successfully in the past. They will be the ones that scream.
I don't think we've reached critical mass just yet to drown out their screams, but its coming, and soon.
And the US Foods thing is just absurd. Those trucks roll through the valley as it is to bring stuff to Jackson. Tough route though. When I was in purchasing starting out my career I was always amazed at the Sysco dudes who would put in 11 hours driving up from Salt Lake and back daily. Their schedule started at like 3 in the morning, and they didn't get home until usually well after dinner. Of all the jobs to say fuck it, I think I'll just collect unemployment, that is probably one where I can see where they are coming from.Live Free or Die
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06-21-2021, 11:04 AM #15341
i'm talking about the blanket statements made here and in published articles about "actually renting is better because you can move if you want" bullshit peddled by landlords. whatever works for people on a case by case basis, go for it.
Month to months are rare and offered at inflated prices. let's stop bringing exceptions to the vast majority of lease agreements and presenting them as the rule.
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06-21-2021, 11:13 AM #15342"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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06-21-2021, 11:18 AM #15343
interesting. i guess living where no one wants to live has me biased. carry on you rich dickheads
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06-21-2021, 11:21 AM #15344
The point is that you are normally locked in for at least a year, and people do frequently re-up the 12-month term so they don't have to worry about having to move out on 40 days notice. With the dearth of rentals right now it would stressful AF to be on a M2M agreement knowing that any day your landlord could tell you "Rent's going up 50%. Sign a new 12-month lease at that rate or be out in 40 days."
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06-21-2021, 11:22 AM #15345Registered User
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I used to rent a place for $200 per month, month to month, name wasn’t on the lease, house had no running water, but the views were worth millions. Saved up enough money to travel and ski in NZ for three months. Went Heli skiing a few times too. Now that’s upward mobility!
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06-21-2021, 11:27 AM #15346Banned
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maybe im old, but I was always told homeownership was one of the first steps in a "secure" financial future, and kinda what you did when you became an "adult".
I bought my first house when I was 25. All out of my own pocket. Have had 3 subsequent houses over the next 25 years. Some made more, some made less, but none did I ever lose on.
Biggest mistake I ever made was essentially giving my ex wife the multi family we owned. Give me back the down payment (came from me), and get me off the mortgage. House would be a huge money maker now (1997 purchase). Busy ass town (morristown nj), close to trains (walking), close to town (also walking). Probably get $1500 for the 1bed/1bath downstairs unit, and $2500 for the 2 bedroom/1 bath, 2 story unit upstairs. The first mortgage would be for sure paid by now and it would all be profit. I thought I was being nice and giving "karma"...fuck that noise...i fucked up..oh well live and learn.
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06-21-2021, 11:30 AM #15347
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06-21-2021, 11:31 AM #15348
USA RE to the moon, baby!
"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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06-21-2021, 11:38 AM #15349______
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Some perspective on leases as someone who is currently renting an apartment in OR.
Anything less than a 12 month lease was available in month to month, 3, 6 or 9 month leases with the rate increasing to the 12 month cost + $200 for the month to month option without much of a break for the other terms. You can allow the lease to go month to month at the end of the term BUT the rent goes up to whatever they are charging for month to month when the lease ends. So in our case the rent went up $150/mth when our lease ended.
We are buying a house and our total will be way less than market rate rent for a similar home or apartment.
This country has a housing supply issue, but has an even bigger wage stagnation issue. The reason people aren’t able to save with market rate rent is because the cost of everything has gone up without a commensurate increase in wages.
I literally couldn’t care less about Jackson or some other resort town having a worker and housing shortage. Oh no, the poor rich people.
I do care about how this issue is effecting people in normal towns and cities across the country. If we don’t get on top of it, we will see the enviable fallout that civilization and after civilization has experienced when their people can’t feed their kids (1:5 homes food insecure in America! F YeAh!) and can’t afford shelter. It hasn’t been pretty.
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06-21-2021, 11:50 AM #15350Registered User
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