Everyone has been colluding with one another to create a true anti-trust nightmare. The problem stems from this algorithm used by rental agency to create a housing nightmare.
Not sure how that makes sense. We havne't built enough housing so it hasn't been _taken away_. Entrenched interests (NIMBYs) have fought against opening regulations preventing building. People with housing are the ones preventing more coming online. Reform building regs!
The people buying homes for OVER the list price certainly hasn't helped. Sadly, almost any problem we have in America isn't the fault of the poor, but the Rich.
Exactly! Just got a notification that my rent is increasing 770 at the first of the year, way beyond the purposed 10%. Has anyone else had this happen?
I know that there is a difference between affordable housing and subsidized housing. I am reminded of Ben Carson. He did nothing to help anyone. Tried to buy expensive office furniture with taxpayer dollars. Trump will never help the working poor or middle class. Kamala had a price gouging plan.
I’m taking about any person coming in in the last four years across that border is an illegal alien and needs to be deported regardless of what you feel.
Don't west-coast cities have issues with Chinese oligarchs buying up condos and leaving them empty, both as a way of getting their wealth past China's strict capital controls, and so they have somewhere to flee to if the CCP turns on them?
Every problem America faces, including this one, will take money to fix. We have placed almost half of America's wealth off limits through Republican tax policy.
All of these problems seem insurmountable when we allow vast wealth to be hoarded tax-free.
And then they hire that rich landlord to be the greedy politician… and they think he will make it better…. Dumb and Dumber were both smarter than these people!!!!
...and there are not enough houses being built to meet the demand for houses. The supply is miniscule compared the the demand for housing--therefore house prices go through the roof.
Pandering to homeowners is one of the worst decisions that politicians have ever made. The cost of housing should not be going up because homeowners imagine they have the right to see the value of their homes increase each year and rely on politicians to made decisions that do that.
Here’s some “affordable” housing where refugees are living. The trope pushed by the president elect makes me sick. BTW, a wonderful colleague made complaint to the city regarding the property management.
Many of the landlords don't even live in Canada. Foreign investors are buying up properties driving up costs and charging exorbitant rents to maximize their profits.
Benefits to Canada? None. Only harm.
I wouldn’t put all of the blame on landlords. Even when the homes are paid off, they’re still subject to property taxes which also go up as the home continues to appreciate
Invitation Homes, Blackstone Group, American Homes 4 Rent, Zillow Group, and Progress Residential—have significantly reshaped the residential real estate market by buying up homes, with cash. Makes it hard for normal buyers to compete.
And NIMBYism and foreign speculators and large corps buying up masses of homes and buildings insanely slow approvals and permitting processes, and ridiculously high development cost charges, and quantitative easing with artificially low rates…
Property Management companies buying up properties and pushing all the taxes and utilities down to the residents to pay should be illegal. Posting rent at $1500-$2000 a month, and an additional could hundred dollars tacked on every month is predatory…
Many hire folks abroad to help with property management (e.g., customer service, administrative tasks, etc.). They aren't even willing to employ local customer service reps to avoid the burden of paying taxes, social security, and a living wage in the USA. Goes for many situated in Canada, too.
Landlord are investing in real estate. It not a non-profit. All companies pass their costs to the end user. Everything else is profit. And the margins are lower today because of property taxes, utilities and construction costs.
I work in affordable housing and get really awful emails intended for market rent apartments. It felt great to respond to one from a predatory utility billing company (Conservice maybe?) and tell them we weren't allowed to gouge/cheat tenants.
Hahaha. It was Conservice. Sarah the Senior Sales Manager might be desperate wasting a stamp to send to this to little ole me at a low income tax credit housing property management company. I needed a good laugh though.
Thank you! I live in Los Angeles and rented a couple of apartments at Essex Property that used American Utility Management. AUM gouged tenants and had the worst customer service.
Actually corporate landlords are the main culprits. Should be illegal for corporations to buy single family homes. Or at least limit the amount they can own.
so where do these landlords put the houses they supposedly took away?
Also could you kindly explain how the population of the United States increasing by about 3 1/2% in 24 months from people entering the country did not put pressure on the housing market? This drivel I have got to hear
I saw some economy/finance groups analyzing current trends, and it's even more odd than something like a supply shortage. Builders and real estate brokers pushing insane incentives for homebuyers, basically cutting all profit, just to move their inventory. So, you can include demand shortfall to it.
We need regulations to keep investors OUT of the single family residential market. Between corporate owners like Black Rock and AirBnB, they've greatly reduced the inventory. And aside to that, after fatso deports immigrants, who is going to be available to build?
That really depends on what they build. My community the adverage income is $58k. The only new builds going up $400k-$1m. Nobody can buy what they are building and they won't build what people can buy. I know because I looked into it. You can build a decent home for under $200k.
We can't. We gutted our public housing programs and now the government can't build! We rely on the private market to build and they are profit motivated, so they build housing that is cost-prohibitive. WHO builds is just as important!
I don’t think it’s this easy. I live in an apartment until November 30th. After that I have to live in my car. That’s regardless of applying for assistance, regardless of my landlord not fixing the heating for 2 years and regardless of them not filing the lawsuit properly that makes it void.
You build a house. A landlord corporation buys it. Nothing is better. You build a house. A landlord corporation buys it. Nothing is better. You build a house. A landlord corporation buys it. Nothing is better. You build a house. A landlord corporation buys it. Nothing is better. You build a house...
First we need to bring all the existing, empty housing back onto the market with exorbitant fines for these shenanigans.
Landlords use an app to determine how badly they can gouge renters, & how they can take in more total rent per month WHILE cutting expenses by NOT filling all their units.
But that is all part of the same problem. In the UK, housing was largely a solved problem for decades after WW2: vast numbers of council houses were built. Then along comes Thatcher who let people buy their council houses and banned local councils from building replacements. https://youtu.be/jZpLiJdIGbs?si=wYir6Ft2lwQO4hKt
Then NATO/USA will just cause more wars and mess and force the "Western" countries to take in more refugees, so the demand will always be high and people too frustrated to do anything.
All according to plan.
This doesn't even imply that we shouldn't be trying to build our way out of our current housing crisis. Part of the problem is 'greedy politicians' only zoning for particular kinds of housing and a lack of developers being willing to construct affordable housing.
Almost no representatives are "anti-housing" but I see your point. It's deeper than that though as at a local level it's often a choice of; 'really bad for housing', 'bad for housing but good on social issues', and 'won't win'
Yeah, you do see it a lot more at the local level. In most tourist towns, there’s no shortage of elected officials prioritizing short-term rentals over places for people to live in the area
I have a 40 minute commute now since I was priced out of living where I work
Like you're right and to the second half o fmy original point here its not like the people voting in alot of places had a demonstrably better option. Like even left leaning local politicians are often beholden to NIMBY interests.
My argument was less that there weren't local politicians that were bad for housing policy. It was that they aren't 'anti-housing' There are just a WAY to many politicians who are pro-housing but in the worst ways possible. Like I have yet to see a politician who would frame new building as for STRs
No surprise that officials in tourist towns prioritize tourists over locals this way, because the tourists are the people who bring money INTO the town from outside, thus fuelling the entire local economy!
I expect college towns would prioritize student accommodation for the same reason.
there is plenty of anti-housing sentiment in calgary, where I'm from. it's more that residents fight against higher density homes like apartment buildings. the other term used is NIMBY or not in my backyard.
I know what NIMBY is. When I say there aren't many anti-housing legislators I mean they would all love to be able to please both the NIMBY camp and the people that need housing. Too often they choose to act against affordable housing to appease developers that want to build more development.
Building any housing not just affordable housing will lower cost of affordable housing.
Why the politicians are greedy here? Are you implying that they are taking bribes or own the real estate companies? It is mostly homeowners who don't want new housing and we happen to live in a democracy.
Also basically every politician has to pay for the campaigns that get and keep them elected. If you look at politicians in your area I'll bet some amount of them have their campaigns paid for in part by donations from builders, developers, and real estate investors. Poor people needing housing cant
Money doesn't win elections votes do. If people choose to vote for a person who will prevent housing projects it is not the fault of politicians greed but peoples stupidity
By offloading the blame off of people you just make things worse, as people can just blame everyone else, but themselves.
And if its the fault of everyone else but the people there is no incentive for people to make things better since everything is controlled by the evil elites anyways and nothing they do matters If that is the logic you want to employ we might as well crown Trump the king right now and stop bothering
Building any housing does not necessarily reduce the price off all housing because if you build luxury housing in some communities they won't hit the market as normal housing. They will become short term rentals or vacation homes. The answer is never as simple as just build more homes.
Even if they become short term rentals or vacation homes they will increase the supply of such properties, and in turn increase the chance that it makes sense for someone else to rent their property long term or sell to someone who will live there long term instead of doing short term.
I mean this is true. It also doesn't mean there aren't a bunch of people in local governments using grey areas to grift that are costing constituents the chance at affordable housing.
It takes all kinds of people to fuck up housing in the US this bad.
The really pernicious thing is that the primary reason housing is so fucked up is we gave zoning power to local gov’t, creating a direct feedback loop between landowners’ financial self-interest and the bodies that manipulate land values. It’s mostly good people acting in good faith. 🤕
That feedback loop needs to be broken. I’ve come around to the idea that zoning powers (and setbacks, parking reqs, FAR, etc.) need to be stripped from local gov’t, moved to the state, and severely curtailed.
I’ll play devils advocate: why on earth do people hate zoning so much? It’s what forces my neighbors to not run their business out of their garage, and doesn’t let strip clubs operate near schools.
It depends what kind of zoning. Japan has light touch exclusionary zoning which says "You can't build a polluting factory here" etc. and it works fine. The UK has NO zoning and it is actually worse than any zoning system.
And why did nobody call out “willing to construct affordable housing” in your post. Because that’s crazy to me.
We exist in a society where businesses (which developers are) exist to make the most profit that they can. What you should infer is that affordable housing isn’t that profitable.
From what I understand, affordable housing is actually an incredibly good investment. Steady demand, subsidized, consistent cash flow. The only reason I can see for not investing in that would be for certain neighborhoods where you expect a big increase in property values or something.
Otherwise you’re just saying people should be willing to make less money so that other people can have things, and when I see that I usually point out that the person saying this usually isn’t volunteering their own money for the cause.
But back to zoning: zoning is why neighborhoods can exist at all. Otherwise, nothing would force developers to build anything but the cheapest things they can. You actually have to plan these things or you end up with neighborhoods without grocery stores or gas stations.
If powerful NIMBYs restrict housing supply then of course developers will cater to their richest potential customers first to make more profit. It's the same reason why the big 3 Japanese car makers introduced new luxury brands after the Plaza Accords restricted US imports of Japanese cars.
There isn’t a restriction of supply. The country (and by extension the planet) is like 98% empty, undeveloped land. There’s a restriction of the amount of idiots who want to be taken advantage of, though, and it’s not going away any time soon. Go build further out. It’s not that hard.
One problem with zoning is that cities are expected to provide increasingly costly infrastructure and services, while zoning blocks any increase in density that would facilitate those expenses being paid for.
The biggest thing is that zoning laws are often prohibitively restrictive and tend to be very ideologically driven: strict zoning tends to result in things like vast suburban sprawl that requires cars to reach even basic services and are a drain on local funds.
Right but that’s not a problem with zoning. That’s a problem with planning. You can easily make that work with mass transit options around typical suburban hubs.
People *want* suburbs. Like, they’re not an artifact of the system. The lack of transit is orthogonal to that.
But the point is that zoning laws tend to bake in systemic inequalities and similar issues in ways that make them difficult to overcome. It's not just the laws themselves, but the ways they've been used, and once that kind of thing gets made into law, it's very difficult to fix.
I'm not "anti zoning" I'm "anti our current shitty zoning that limits housing supply and makes housing unaffordable and dictates car dependency almost everywhere."
Yes, and none of the people living in those areas support that idea. Do you have another idea that doesn’t involve screwing over the people already living in those areas?
Wouldn't modest liberalization of zoning like that likely not do much for affordability, because an apartment in a 3- or 4-floor building is unlikely to be cheap if the developer building it had to eat the cost of a single-family home that previously stood on that lot?
In practice, you usually get apartments at the market rate. It takes a pretty severe glut of housing to actually bring prices *down*, because most landlords are paying mortgages and literally can’t bring them down — all they can do is stop raising them for a minute.
Okay great, we have established that I’m dumb. Now, what is the actual problem with a strip club operating near a school? Are you worried that children will wander into the club and see things they shouldn’t?
Because it's mostly been weaponized to prevent building houses. Who cares if their neighbor runs a biz out of their garage if there aren't noise or pollution problems? Especially since that zoning usually keeps an awesome, walkable corner store from existing in your neighborhood as well.
Isn't the car dependence of much of America also a big driver (hah!) of NIMBYism, to the point that the NIMBYs themselves often cite concerns over parking to justify their stance?
Given that the entire point is to allow people to decide how they want their neighborhoods that they live in to look, I fail to see how that’s a problem. It’s only too restrictive if you’re insisting that we turn everything into a city and we don’t want to, so.
There are a great many affordable housing developers who would love to build homes for poor people. The reason they cannot build at scale is that the rents poor people can afford are not high enough to pay for construction, and funding to cover that gap is limited.
This is not true everywhere and also a vast oversimplification of the issue. Not every community needs housing built at scale. Construction prices vary by community. There are places that could be renovated or repurposed for affordable housing. It's a complex issue that needs complex solutions
There are multiple challenges here and these are only a few:
1. It costs $75-150k per apartment just to break ground in most cities due to all of the regulatory fees. This must be solved.
2. Zoning laws need changed.
3. Taxes and insurance are what heavily drive up rents. Insurance has doubled.
I love discussing affordable housing. It's been a personal interest of mine for years. IMHO, there is no simple answer. Ultimately, I think it's a combination of government and private collaboration. I could discuss this topic for days. We need solutions now.
It’s challenging to build affordable for many reasons, the top of which are nimbyism & upfront regulatory costs that make developing anything but luxury communities nearly impossible. I’ve spent my career in housing & would love to see more opportunities to build affordable.
I've seen this in many places, but it's not really true. There are about 15 million vacant "housing units". We first hit 16M vacant in 2006; vacant # peaked at almost 19M in 2009 BUT most of the current 15M “vacant” housing units are accounted for. From the US Census, 2024 numbers:
"Doom to those who acquire house after house, who annex field to field until there is no more space left and only you live alone in the land." ~ a really old book
It is kind of fascinating though isn't it. I've lived in both. My quality of life is the same now as it was in Alabama, but the difference is I was making $7/hr less and paying half as much in rent down there, while in Philly my rent is half as much as my monthly net income.
If the wages are higher and there isn't enough housing, people will pay more for housing. If the rent is lower and there isn't enough housing, some people will pay less rent, the others will have nowhere to live.
So an estimated 94 a day enter illegally that's 658 a week! (there's been that in one day before).
There were 1806 illegals that entered England between Nov 4th & Nov 10th.
So they need housing somewhere.
It's the illegals & the governments fault.
Exactly, but the whole democratic party didn't even mention any rich people, especially big investors.
i wouldn't even bother about individual landlords.
Democrats were proud of getting money from these big investors but no one calls them corrupt, while they boast about it openly.
Democrat bill: The End Hedge Fund Control of American Homes Act would mandate hedge funds, (corporations, partnerships or REITs that manage pooled funds for investors), to sell off all single-family homes over a ten-year-period, and eventually prevent them from holding those properties completely.
To whom it may concern and those that actually wants change in their lives, remember time is not late to try out new things that will change their life and make life easier for you and those you choose to share this with,come over to James STAKE and see changes in your life now.Changes..be happy.
Are there any statistics on how many single family dwelling have been removed from the market to be used as AIRBNBs? Isn't that why some municipalities are cracking down on them?
Right wing policies.
Second industry to crash in 2008, construction. They got no bailouts. One million fewer new homes a year since 2008.
Trade wars stared in 2017, construction cost per sq. foot double by January 2019.
Right wing attack on Brown people working in the Trades started in 2009.
It’s not understanding how the system works and most people’s need to blame someone, and they were giving someone by trump. Not speaking out about how private equity is buying up housing and landlord management companies price gouging rents, giving them a true someone to blame they believed them
Oralè Resisters
They’re all tripping on their bathrooms identities,
I’d be worried about who was going to clean them when they deport Ten Million Mexicans? #RedOnlyToilets
This election was RIGGED!! Kamala WON, not 🤏tRUMP! The top 1% and elon's starlink were the KEYS to his election 🙄 NOt HIS MAGAt MINIONS/IDIOtS!!!!!!! There needs to be a hand recount. Matching each ballot with a SSN. I'm sure it's been discussed, tho SCOTUS is owned by
🤏tRUMP
I've honestly been there and I don't care. These are billion dollar companies and they couldn't lower the damn prices. That would've maybe got Harris elected, if the prices were lower.
You know, there are still some decent landlords and it’s a pity that they aren’t given the praise they deserve. The greedy ones, though, deserve everyone’s ire, and payback.
There’s nothing wrong with Capitalism. People should be rewarded for their creativity and entrepreneurial abilities. But it has gotten out of hand with the corporations reaping record benefits and the people who do the work donor get to share that success. And prices going up blaming the government.
Private equity and hedge fund groups have been buying up homes for more than a decade. Inventory has been tight since 2010/2011 in some areas, with competitors paying cash. They buy, do a rushed home “improvement” then resell them or rent them out. “Libs” had nothing to do with rising home prices.
HUD might do some of that but I don’t think it’s well funded. I haven’t researched it much.
I do know that Trump was in office 2017-2020 and he also did none of that so your accusations are very one sided.
Why don’t you help this problem and purchase some rental properties and rent them for under market rent and pick up the the cost of property tax, utilities etc.?
Case in point, to my previous: even in liberal San Francisco, where GOAT Speaker (Emerita) Nancy Pelosi is my Congresswoman, people voted down Rent Control. Again. It's hard to help those who refuse to engage & choose wisely (including their city administrators) to attend meetings, to call for Homes
Banks. Certain financial sector executives — not all — concluded there was more money for them to earn by higher property valuations. Those, in turn, also help Real Estate pros earn higher commissions. ANYONE WHO DOES NOT VOTE, DOES NOT READ & CONSIDER CAREFULLY EVERY BALLOT QUESTION is complicit.
Reminder that during the Great Depression, people lived out on the streets, infront of empty apartments and houses because at the end of the day, the landlord only wants money. Even in an economic crisis and states of emergency.
New home construction was never the same after 2008 housing bubble/crash. Affordable house inventory needs to be replenished and expanded, but there's not enough margin for builders to focus on affordable housing, only high end houses now-er-days.
At the risk of being given the Julian Assage Treatment? I don't ken how 'Pillaging Pensions'. To fuel the war in the Ukraine. Is going to, 'Bring Peace to Palestine?
Comments
They were stupid at as hell.
Cultists who fell for the cult leader's rhetoric.
That's all.
Lack of jobs?
All of these problems seem insurmountable when we allow vast wealth to be hoarded tax-free.
THIS is USA 🆚 EU
Our tax policy did this
Benefits to Canada? None. Only harm.
High interest loans for the system plus monthly service bills, all get passed to the residents
residents pay 4x or more what the meter & installation costs were
And most mgt companies don’t know
Well at least they chose the right NAME!
Many Con Artists go on to be ACTUAL CONs
The challenge is that everyone votes to keep property values high and they don't like higher density in their neighbourhoods.
Also could you kindly explain how the population of the United States increasing by about 3 1/2% in 24 months from people entering the country did not put pressure on the housing market? This drivel I have got to hear
Got it 👍
Like VaultTec would help those who can pay up 🤣
He's animated as DOING all the work.
That's because
Or all 3 😉
behind others. Hoping no one notices.
We do need to build out of a shortage, but there’s plenty of luxury housing, so that’s not the whole story.
Who is going to build 'our' way out of it?
(refugees)
If zoning and permits were not prohibitive, we might see more housing being built, driving down costs.
Didn't read it right.
Landlords use an app to determine how badly they can gouge renters, & how they can take in more total rent per month WHILE cutting expenses by NOT filling all their units.
https://youtu.be/jZpLiJdIGbs?si=wYir6Ft2lwQO4hKt
Thank you Jimmy Carter.
All according to plan.
If the story is "landlords are making housing expensive," the solution is rent control.
If the story is "housing shortages are driving up costs," the solution is to build more housing.
Only one of these can fix this issue.
Messaging is important.
Regardless, whatever you think rent controls do, they do nothing but worsen the situation if you already have a shortage.
I have a 40 minute commute now since I was priced out of living where I work
I expect college towns would prioritize student accommodation for the same reason.
Why the politicians are greedy here? Are you implying that they are taking bribes or own the real estate companies? It is mostly homeowners who don't want new housing and we happen to live in a democracy.
By offloading the blame off of people you just make things worse, as people can just blame everyone else, but themselves.
It takes all kinds of people to fuck up housing in the US this bad.
We exist in a society where businesses (which developers are) exist to make the most profit that they can. What you should infer is that affordable housing isn’t that profitable.
Notice that that’s different from housing *density*, aka apartments vs single family homes.
Those are orthogonal concepts.
People *want* suburbs. Like, they’re not an artifact of the system. The lack of transit is orthogonal to that.
Seriously tho I dislike zoning due to reading The Color of Law and learning about its history in the US.
See the hot pink parts? Just upzoning half of those from R1 to R2 or R3 would usher in a level of housing abundance that would make your head spin.
If you just want to protect people from nuisance uses as you describe, Japanese-style zoning would be better:
https://urbankchoze.blogspot.com/2014/04/japanese-zoning.html
Also drawn out local.aprovals.
1. It costs $75-150k per apartment just to break ground in most cities due to all of the regulatory fees. This must be solved.
2. Zoning laws need changed.
3. Taxes and insurance are what heavily drive up rents. Insurance has doubled.
Red states: the Wages are Too Damn Low!
it is not JUST landlords
There were 1806 illegals that entered England between Nov 4th & Nov 10th.
So they need housing somewhere.
It's the illegals & the governments fault.
i wouldn't even bother about individual landlords.
Democrats were proud of getting money from these big investors but no one calls them corrupt, while they boast about it openly.
💙💙💙💙💙💙💙💙💙
Second industry to crash in 2008, construction. They got no bailouts. One million fewer new homes a year since 2008.
Trade wars stared in 2017, construction cost per sq. foot double by January 2019.
Right wing attack on Brown people working in the Trades started in 2009.
They’re all tripping on their bathrooms identities,
I’d be worried about who was going to clean them when they deport Ten Million Mexicans? #RedOnlyToilets
🤏tRUMP
I do know that Trump was in office 2017-2020 and he also did none of that so your accusations are very one sided.
The idiots keep voting away their own interests...