1:31 she is right because you’ll end up like Austin - units nobody can afford to live in because there’s a price bubble - real estate prices rent vs own aren’t too different except for equity.
That is true more housing is needed to be built, but at a reasonable cost and more apartment buildings that focus on lower income with all the amenities not have a laundry room that is so far away that people got out, dragged unmentionables there and didn’t have to use a commercial washer that is overused And breaks down left and right and take forever to come try to fix it. We need more building on the low income with all the amenities, kitchen decent size living room, decent size dining room, decent size bedroom size and closets and bathrooms along with the washer and dryer, it makes no sense in this day and have to go to laundromat, even if you lease don’t even put in the at least put in the hook up. Majority of us will be glad to go out and purchase our own washing and dryer as long as the hook is there.
What you need to do is tax Wall Street real estate investors more if they own more than a certain amount of properties in a certain zip code. Like if any one big investor owns waaay more than their fair share, you KNOW they are getting together with the other Wall Street investors who own properties in the same area and they are price fixing. you KNOW that’s what they are doing.., it started during the lockdown when we were all scared and it hasn’t stopped since. How else would my rent in my crappy 1 bedroom suddenly almost triple??? Almond with all the other homes and rentals in the neighborhood? It’s an investor monopoly and they are 100% working together. And it’s just going to get worse… because it’s not just passive income they want… They have to feed the stockholders with double earnings year after year after year. My rent went from $1300 a month to $2800. Seriously? How? Why couldn’t we “just move”??? Because ALL the rentals in the whole place did the exact same thing at the exact same time. I had nowhere to run, nowhere to hide.
And maybe also when those big corporations and foreign investors buy up a certain amount of homes in one area they have to market the home or rent the apartments at certain prices in all income types so they can all be two and three bedroom homes between the prices of two or three they have to do market the same home or apartment if you make say you’re tired or on disability you only get under $1500 a month that means 30% is supposed to be considered what you want to spend on rent that’s $500-$700 for at least a two bedroom and at the higher end three bedroom and apartment must have all the amenities not have to pay to go to a wash and dryer somewhere because a lot of people don’t always dry, especially when your senior and on disability, you might not always have a vehicle to get around so it must be all on the property in fact also they should also end the apartment offer washer and dryer and the apartment or the hook up and we can go out and purchase our own washer and dryer. Long space for one dedicated not take up space that is needed in bathroom night take a space in a linen closet or coat closet, a dedicated space put in the washer and dryer in the kitchen because I know you’re gonna eat in the kitchen cabinets for storage. It will get paid for in the long run.
I must admit I'm cynical. We had high hopes for the Rent Bill AB1482. It passed but by the time our legislators got through with it, it had so many loop holes it resembled a sieve and is useless!
Listen, it's not the corporation that is the problem. A lot of landlords hold title in. Corporation for liability reasons. The real problem is what certain corporate investors are doing. Namely, many are keeping vacant properties to drive up demand and many units are used as short term rentals. Remedy the bad actions. Put caps on permits issued for short term rentals. Make having a HOX a requirement for being issued a permit. Hopefully, this is enough to really have an effect on supply and demand because the other action is more problematic. The vacancy issue is harder. It really cuts into owners rights. If you want to own a vacation property and leave it vacant except a month a year. That's your right as an owner.
Yes because it always ends better when corporations are allowed to manipulate the market to their whim through price fixing software. What could go wrong?
I dunno man. Something needs to happen. First time homebuyers competing with monolithic multi billion dollar corporations is ludicrous. There's plenty of other ways for them to utilize their funds.
The problem isnt corporate investors its regular mom and pop landlords and small local investors! Corporate investors and Hedge funds only own less than 1 percent of all the homes in the United States
That is true more housing is needed to be built, but at a reasonable cost and more apartment buildings that focus on lower income with all the amenities not have a laundry room that is so far away that people got out, dragged unmentionables there and didn’t have to use a commercial washer that is overused And breaks down left and right and take forever to come try to fix it. We need more building on the low income with all the amenities, kitchen decent size living room, decent size dining room, decent size bedroom size and closets and bathrooms along with the washer and dryer, it makes no sense in this day and have to go to laundromat, even if you lease don’t even put in the at least put in the hook up. Majority of us will be glad to go out and purchase our own washing and dryer as long as the hook is there.
