The problem tellimg the country to… remove him? Thats a first
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Who rents that for 72'000 $ per year? At that point you are throwing away your money and most definitely have enough to actually buy a home.
have you seen how this works? i know this is a parody post but it’s real. Rent starts “ok” then the “market” (which is just this guy with 6 props) says rent can be higher. So it bumps. Then inflation. Then covid. Then “market” again.
While the owner know how his tenants salary is tracking, keeping sure to raise the rent by enough to keep him there but not so much he bails.
it’s not the renters fault they need a place, even if one says “yeah but they overspent.” Not initially, no. Maybe some. Tough nuts. But often it’s not initially overspending.
Then again capitalism itself relies on and markets for people thinking they “need” more than they do; the owner of the props is counting on it.
Landlords are scum and deserve nothing.
Who rents that for 72’000 $ per year?
Andrew Cuomo bragged about renting for $96k/year
At that point you are throwing away your money and most definitely have enough to actually buy a home.
You don't need a 20% down payment to rent a home. That's the big hurdle, as housing prices have ballooned
Trying to save up 20% was the biggest mistake of my home buying experience.
My whole fucking life my parents insisted that you had to have 20% down, so that's what I aimed for. Both my siblings just YOLOed and bought houses between 5-10% down, but I had a better paying job, so continued to save. As I saved, the cost of housing out grew my rate of savings.
When I finally did get a mortgage I only put 15% down and it was at that point I realized that the only thing the 20% down would do for me was save me something like .75% for the first 5-8 years. That is still a lot of money, but compared to just buying a house at $175,000 10 years ago and selling it for double when I ended up moving anyway--it's nothing.
The whole system is fucked. There's no reason only those making 6 figures or more should be the only ones with the privilege of trying to own the place you live someday. There's no reason a company should own a place to live. There's no reason minimum wage shouldn't cover a reasonable lifestyle for a family. There's no reason housing in general shouldn't be available to everyone.
Pre covid, I was pre approved for a home. I had lied and told them I had $3K for a down payment.
I couldn't save three grand. Rent was 40% my income, as was childcare. I made $20/hr in a "grown up" job, the type of work my uncles and aunts and parents bought houses with.
The gorgeous $167K dollar house (2016) who's only down side was it was 45mins from work, .. is now worth nearly $600K. I'm jealous of whoever ended up buying it that year.
im just waiting on 3d printed houses to become cheaper (than it already is now) and mainstream.
Those can be an alternative, but aren't great for longevity. They're almost always essentially entirely concrete, which means if you want to get to, say, a pipe in the wall, be ready to smash through rock and then have to fill in a vertical hole in the wall with concrete again. This weakens structural integrity over time any time you've gotta do repairs, and makes them more expensive to do.
The more sane alternative for most people will be prefab housing, where either the entire house is sent in as either a single prefab unit, or a unit for each room that's simply connected and stacked, or where just each wall is a pre-made unit that's then assembled. The latter has become much more common in construction already, and the former is growing market share rapidly right now, to the point you can, right now, literally order a prefab house from Amazon.
As someone who lives in a prefab, I really have to disagree with them being the answer. Unless they stop using vinyl-on-gypsum and the cheapest materials possible..
Water damage is a major issue in these kinds of homes. They're not made with actual wood or conventional building materials, and fall apart so easily. Replacement parts are not standard, making it extra costly and difficult to repair.
Adding, when I walk into an actual house, I can feel the difference as I walk through.