Opinion Easy solution to the housing shortage

[Romulas]

No it wouldn't. Because everyone can rent and buy from people who only have a 2nd house. That will keep prices low. Someone with a 20th house can't rent it out as cheaply, so they'll have trouble finding tenants, and end up just selling the house because it's not worth having that many houses.

Do you own rentals props? The way you speak about them leads me to believe that you don't.

 

[Kassitus]

Let people build multifamily housing without all the excessive permitting and arbitrary regulations.

You don't think multifamily homes can be part of a sprawl? I see new townhouses all over the suburbs. Even assuming youre correct, you get a bandaid addressing the symptoms that strains infrastructure in the process.

 

[Fedorgasm]

Do you own rentals props? The way you speak about them leads me to believe that you don't.

I don't. But if you do then feel free to educate me on what I'm missing here

 

[Romulas]

I don't. But if you do then feel free to educate me on what I'm missing here

So in most markets, unless you out right own the residential property, there isn't much room for profit after paying principal, interest, taxes and investment prop insurance. I own rentals and am a realestate developer/lender.

Most single family rentals that have a note on them are very close to break even on a 10 year timeline when including maintenance, repairs and management. Many of them are actually loses if they need something like a roof. The owners make their money when they sell or cashout refinance years or decades down the road.

I know this because I analyze the tax returns of landlords before I broker deals to lend them money so they can buy realestate.

Any legislation geared towards making housing more affordable/available should be directed at imiting corporations and non-citizens from owning and de-regulating building.

Going after individuals that own < 20 homes is only hurting the guy who's 1 step up from the person trying to buy their first home when he tries to buy his second.

 

[Andy Capp]

i think people who have never owned a home will be shocked if/when they do. We had to replace two different HVAC systems in our rentals in one summer. that was not cheap. And i still need to replace the water heater and hvac in the home i live in as the water heater is 15 years old (about 5 older than expected lifespan) and the HVAC system is ancient and terribly inefficient. i wish a i had landlord to pay for this shit.

Don't you wish instead you'd have found these issues before you purchased them and either negotiated for a lower price or rejected them and purchased other properties?

I think people who have never owned a home deserve more from home inspectors. For what we paid, it would have been nice had the guy found the issues with our dishwasher and fridge, instead of leaving us to discover them once we moved in.

 

[IanEdwards]

Clearly the solution is to let the market work it out. That invisible hand will mean the housing market self-corrects and naturally reaches the right level. That's just how capitalism works, it's been so successful thus far, I don't see why we'd look for other answers now? Why change a winning formula?