It's Happening Again - Homes Lost - Some Rent Control Needed

[Rigby5]

How much?

I do not want to get into too much detail.
But at first, for a year or so, rent tends to be slightly less than mortgage.
If not for the high tax bracket I am in, and the tax write off, it would be a loss for a few years.
However after the 15 year mortgage is paid off, then it is all profit except for property tax.
I actually do all my own repairs, updates, etc.

So the point is tenants are a cash cow being milked by all the landlords.
It is not a fair or equitable system, and the tax laws in particular are horrific.
Their claim is that the tax breaks are supposed to be an incentive for builders to create housing, but that is never the case.
What happens instead is that the breaks are so good for landlords, they can outbid those who would like to live in their own home, so the tax laws work against home ownership.
Without the crooked IRA regulations, then properties would be selling for about 30% less, so more people could buy their own home.

 

[Toddsterpatriot]

I do not want to get into too much detail.
But at first, for a year or so, rent tends to be slightly less than mortgage.
If not for the high tax bracket I am in, and the tax write off, it would be a loss for a few years.
However after the 15 year mortgage is paid off, then it is all profit except for property tax.
I actually do all my own repairs, updates, etc.

So the point is tenants are a cash cow being milked by all the landlords.
It is not a fair or equitable system, and the tax laws in particular are horrific.
Their claim is that the tax breaks are supposed to be an incentive for builders to create housing, but that is never the case.
What happens instead is that the breaks are so good for landlords, they can outbid those who would like to live in their own home, so the tax laws work against home ownership.
Without the crooked IRA regulations, then properties would be selling for about 30% less, so more people could buy their own home.

So the point is tenants are a cash cow being milked by all the landlords.
It is not a fair or equitable system, and the tax laws in particular are horrific.

That's horrible!!!

If your profits are unfair at $1000 a month, no one is stopping you from charging $800 or $600.
If your write-offs for repairs are unfair, no one is forcing you to declare them.

Their claim is that the tax breaks are supposed to be an incentive for builders to create housing, but that is never the case.

So no one creates housing? Ever?

What happens instead is that the breaks are so good for landlords, they can outbid those who would like to live in their own home, so the tax laws work against home ownership.

Their higher bids don't result in new housing? Or do you see your contradictory claims?

 

[Rigby5]

Their claim is that the tax breaks are supposed to be an incentive for builders to create housing, but that is never the case.

So no one creates housing? Ever?

What happens instead is that the breaks are so good for landlords, they can outbid those who would like to live in their own home, so the tax laws work against home ownership.

Their higher bids don't result in new housing? Or do you see your contradictory claims?

Landlord tax breaks do not at all result in new housing.
Landlord profits are maximized by the lowest prices, slum properties that have been foreclosed, neglected, or old.
The people who buy new housing are the same as those who buy new cars, people who want to show off.

 

[Toddsterpatriot]

Landlord tax breaks do not at all result in new housing.
Landlord profits are maximized by the lowest prices, slum properties that have been foreclosed, neglected, or old.
The people who buy new housing are the same as those who buy new cars, people who want to show off.

Landlord tax breaks do not at all result in new housing.

You just said they're placing higher bids.....higher bids, more demand = more supply.

Landlord profits are maximized by the lowest prices, slum properties that have been foreclosed, neglected, or old.

You said they were paying higher prices. Are you confused?

The people who buy new housing are the same as those who buy new cars, people who want to show off.

No one buys new construction to rent? Are you sure?

If your profits are unfair at $1000 a month, no one is stopping you from charging $800 or $600.
If your write-offs for repairs are unfair, no one is forcing you to declare them.

 

[Rigby5]

Landlord tax breaks do not at all result in new housing.

You just said they're placing higher bids.....higher bids, more demand = more supply.

Landlord profits are maximized by the lowest prices, slum properties that have been foreclosed, neglected, or old.

You said they were paying higher prices. Are you confused?

The people who buy new housing are the same as those who buy new cars, people who want to show off.

No one buys new construction to rent? Are you sure?

If your profits are unfair at $1000 a month, no one is stopping you from charging $800 or $600.
If your write-offs for repairs are unfair, no one is forcing you to declare them.

Wrong.
The landlords are only outbidding the very poor.
That does not = more supply because they are not buying new or paying new prices.
You still seem to miss the point that it is the poor the landlords are abusing.

Yes, no one would ever buy new construction to rent unless it is high capacity apartments that cost less per unit, but are impossible for individuals to buy because it would require a collective mechanism that does not exist

I currently am charging only about 75% of what I could, but that does nothing to fix the problem of slum lords getting tax breaks they do not deserve.
When the wealthy get tax breaks, then everyone else has to pay more.

 

[Toddsterpatriot]

Wrong.
The landlords are only outbidding the very poor.
That does not = more supply because they are not buying new or paying new prices.
You still seem to miss the point that it is the poor the landlords are abusing.

Yes, no one would ever buy new construction to rent unless it is high capacity apartments that cost less per unit, but are impossible for individuals to buy because it would require a collective mechanism that does not exist

I currently am charging only about 75% of what I could, but that does nothing to fix the problem of slum lords getting tax breaks they do not deserve.
When the wealthy get tax breaks, then everyone else has to pay more.

That does not = more supply because they are not buying new or paying new prices.

I've read several recent stories where they're buying new construction.

You still seem to miss the point that it is the poor the landlords are abusing.

There are regulations to prevent "abuse".

Yes, no one would ever buy new construction to rent unless it is high capacity apartments that cost less per unit

You're wrong.

I currently am charging only about 75% of what I could

And you're still making unreasonable profits?

When the wealthy get tax breaks, then everyone else has to pay more.

That's terrible, so why don't you pay more?

 

[Rigby5]

That does not = more supply because they are not buying new or paying new prices.

I've read several recent stories where they're buying new construction.

You still seem to miss the point that it is the poor the landlords are abusing.

There are regulations to prevent "abuse".

Yes, no one would ever buy new construction to rent unless it is high capacity apartments that cost less per unit

You're wrong.

I currently am charging only about 75% of what I could

And you're still making unreasonable profits?

When the wealthy get tax breaks, then everyone else has to pay more.

That's terrible, so why don't you pay more?

Housing has a real shortage these days.
They can't find people to build them anymore.
But it is not landlords who are financing the construction from what I have heard.

And the whole point is that there are not regulations to prevent landlords from abusing the poor.
The whole point is the tax laws are manipulated by the wealthy, in order to increase the abuse of the poor.

I am still making about 90% profits because the properties are entirely paid off.
All I have to do is pay property tax and do some painting and plumbing once in a while.

If I paid more taxes, that would not fix anything about the rich landlords not paying their fair share and abusing tenants.

 

[protectionist]

View attachment 577076
The republican led legislature along with desantis are going to help you.

That would be good, but we need PAST tense help, not future.

 

[protectionist]

Landlords make huge profits without doing anything or paying much of anything in taxes.
The tax breaks are so lucrative that people were buying properties just so they could turn them into rentals, and then sell the tax exemptions to uninvolved invests. They finally made that illegal about 10 years ago, but it used to be common. The landlord tax breaks are that good.

SOME (many) landlords should be given a new name > landsharks.

 

[protectionist]

Landlords get huge tax breaks that renters do not get, so it is very unfair.
Everyone should have their own home.
There is not a single person who would not be saving money in only a few years, if they had been able to buy instead of rent, and it usually is the lack of a a credit rating that prevents them from getting the mortgage they deserve.
Everyone one should be eligible for a mortgage and be able to buy.
And instead of tax breaks, landlords should pay more in taxes than owners.

Credit ratings as applied to housing rental is assinine. Landlords are some of the biggest dummies when it comes to business. There are millions of people who have low credit scores (a term that's only been around a relatively short time), but they have PERFECT HOUSING rental records.

I got preapprovd for a home loan with credit scores in the mid 600s, and I have NEVER missed or been late on a housing rental payment in over half a CENTURY.
Credit scores have very little (if anything to do with housing). They measure payment for jewelry, cars, sporting goods, musical instruments, and things that frankly are none of the landlords' business.

If I were renting apartments, I would check a person's HOUSING RENTAL RECORD and criminal record, and that's all. Going any further than that is turning away good-paying customers, and needlessly losing money.

When I owned a business for 10+ years, I gave credit to over 600 people. The total number who didn't make good on their note, was ONE. 99.83% success rate, and I never checked a single credit rating.

 

[protectionist]

That does not = more supply because they are not buying new or paying new prices.

I've read several recent stories where they're buying new construction.

You still seem to miss the point that it is the poor the landlords are abusing.

There are regulations to prevent "abuse".

FALSE! The worst abuse is raising rents (SUDDENLY) to ludicrous amounts. The apt I rented 2 years ago at $550/mo, immediately was raised to $900/mo. Now it is $1,150/mo. 109% increase, and nothing given to the renter in return. That is despicable ABUSE, and there not only is no "regulation" (rent control), there are laws (in 45 states) that regulate against the stoppage of this abuse, thereby ensuring it to occur.

 

[protectionist]

Housing has a real shortage these days.
They can't find people to build them anymore.
But it is not landlords who are financing the construction from what I have heard.

And the whole point is that there are not regulations to prevent landlords from abusing the poor.
The whole point is the tax laws are manipulated by the wealthy, in order to increase the abuse of the poor.

I am still making about 90% profits because the properties are entirely paid off.
All I have to do is pay property tax and do some painting and plumbing once in a while.

If I paid more taxes, that would not fix anything about the rich landlords not paying their fair share and abusing tenants.

Toddsterpatriot has been trying to tell us that the astronomical housing rents in Florida right now, are due to increased costs to the "poor" landlords. We all know it is a surplus of renters, a dearth of housing units, and landlord greed.

 

[Toddsterpatriot]

Housing has a real shortage these days.
They can't find people to build them anymore.
But it is not landlords who are financing the construction from what I have heard.

And the whole point is that there are not regulations to prevent landlords from abusing the poor.
The whole point is the tax laws are manipulated by the wealthy, in order to increase the abuse of the poor.

I am still making about 90% profits because the properties are entirely paid off.
All I have to do is pay property tax and do some painting and plumbing once in a while.

If I paid more taxes, that would not fix anything about the rich landlords not paying their fair share and abusing tenants.

I am still making about 90% profits because the properties are entirely paid off.
All I have to do is pay property tax and do some painting and plumbing once in a while.

90%? Wow!
You don't understand accounting either.

If I paid more taxes, that would not fix anything about the rich landlords not paying their fair share

It would. It would fix you, not paying your fair share.

 

[Toddsterpatriot]

FALSE! The worst abuse is raising rents (SUDDENLY) to ludicrous amounts. The apt I rented 2 years ago at $550/mo, immediately was raised to $900/mo. Now it is $1,150/mo. 109% increase, and nothing given to the renter in return. That is despicable ABUSE, and there not only is no "regulation" (rent control), there are laws (in 45 states) that regulate against the stoppage of this abuse, thereby ensuring it to occur.

FALSE! The worst abuse is raising rents (SUDDENLY) to ludicrous amounts. The apt I rented 2 years ago at $550/mo, immediately was raised to $900/mo. Now it is $1,150/mo. 109% increase,

That's awful!! And all you have to do to escape the abuse is move.

That is despicable ABUSE

You're such a little whiner.

 

[Toddsterpatriot]

Toddsterpatriot has been trying to tell us that the astronomical housing rents in Florida right now, are due to increased costs to the "poor" landlords. We all know it is a surplus of renters, a dearth of housing units, and landlord greed.

Toddsterpatriot has been trying to tell us that the astronomical housing rents in Florida right now, are due to increased costs to the "poor" landlords.

I did? Where?

 

[Toddsterpatriot]

We all know it is a surplus of renters, a dearth of housing units

Supply and demand? If only you knew an Econ professor to explain to you how that works......

 

[protectionist]

Supply and demand? If only you knew an Econ professor to explain to you how that works......

HA HA. You and your "supply & demand" (completely overlooking the NEEDS of the public).

Look at this JOKE >>
2 GRAND a month these loons are asking, for a 733 sq foot 1 bedroom, shoebox. Anybody that would pay 2 grand for a 733 sq foot shoebox, is an imbecile.
Hey Rocky Creek, how many bugs come with the apartment ?
How many alligators you got in your stupid lake ?
No bathroom windows & cental AC ? That = MOLD.

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www.liveatrockycreekapts.com

 

[protectionist]

Toddsterpatriot has been trying to tell us that the astronomical housing rents in Florida right now, are due to increased costs to the "poor" landlords.

I did? Where?

Oh, in about a HUNDRED or so posts.

Is there a doctor in the house ? I mean really.

 

[protectionist]

FALSE! The worst abuse is raising rents (SUDDENLY) to ludicrous amounts. The apt I rented 2 years ago at $550/mo, immediately was raised to $900/mo. Now it is $1,150/mo. 109% increase,

That's awful!! And all you have to do to escape the abuse is move.

That is despicable ABUSE

You're such a little whiner.

Move WHERE ?

Buy a house ? OK. I'll go with your suggestion. Send me a check for $3000.

 

[AZrailwhale]

I do not want to get into too much detail.
But at first, for a year or so, rent tends to be slightly less than mortgage.
If not for the high tax bracket I am in, and the tax write off, it would be a loss for a few years.
However after the 15 year mortgage is paid off, then it is all profit except for property tax.
I actually do all my own repairs, updates, etc.

So the point is tenants are a cash cow being milked by all the landlords.
It is not a fair or equitable system, and the tax laws in particular are horrific.
Their claim is that the tax breaks are supposed to be an incentive for builders to create housing, but that is never the case.
What happens instead is that the breaks are so good for landlords, they can outbid those who would like to live in their own home, so the tax laws work against home ownership.
Without the crooked IRA regulations, then properties would be selling for about 30% less, so more people could buy their own home.

Well if you think your rents are unfair, there is a simple solution. Lower your rents.