I got an email like two weeks ago that there had been an increase on car break-ins recently
Then when it came time to re-sign they decided to increase rent
Nothing from stopping everyone from coming together to leave the property in mass if they increase rent.
except having to find a new place to move all your stuff to.
I’m definitely biased, I keep only about what I can move in my truck. Also around here it’s almost trivial to furnish a two bedroom place with used and free stuff for like $300 to $500.
Moving is incredibly expensive and unrealistic for most people in the US unfortunately.
It costs a lot more to move into a cheaper place than it does to absorb the increase.
I guess because of the choices I’ve made that’s not really been the case personally. Usually I get my deposits back in full or nearly in full. I’ve never hired movers or rented a truck so far. I guess if I needed I would get a trailer and sell it when I’m done with it. As for labor, there’s always cheap labor around. Two dudes who want $50 each is probably enough if I couldn’t physically move my stuff but irl I would probably have my family help.
You sound very young and without much baggage to move around. You are not the average American family then.
I’ve known families who’ve been more mobile than myself, but you’re right, definitely not average. I used to have a lot more stuff but it gets heavy on the mind.
I just moved. it was hella expensive.
security deposit + first + last month: ~5k
movers: ~850 (and don’t tell me movers are optional - my wife is disabled and I have a lot of chronic pain).
uhaul rental + moving supplies: ~300
so total that’s over 6 thousand dollars. that’s the same amount as if they increased the old rent by 500$ and we lived there another year.
That’s a lot. I just break down my stuff and pack in my truck. Last time I moved in the states it was a security deposit and first months rent so like $1800 (or $500 more than I was going to pay anyways in rent) and I guess gas. If needed I would buy and sell a trailer for like $400 so it would work out to $0 after being sold. My furniture is all very light and breaks down or otherwise can be easily moved by my little metal dolly and held with my straps. If I needed labor I could probably find two guys for $50 each for like those few hours, lunch included of course. It’s really not much stuff.
you have no idea what depreciation is I guess. and idk where you’re finding an apartment for 900$ a month that doesn’t want first + last + security deposit.
is it possible that our situations are different? that not everyone has the same needs, is in the same location, or has your braindead math? or perhaps things have changed since you last moved?
(in case it’s not obvious, that last paragraph is dripping with sarcasm. youre an idiot spreading misinformation at best. kindly go fuck yourself and enjoy the rest of your day)
Don’t forget “flushable” wipes
Everything is flushable as long as it’s small enough to fit in the hole
I’m just gonna say that where I live, it’s a criminal offense to pour oil down the drain.
You’re not just affecting your landlord. You’re affecting your entire neighbourhood.
Add enough lye and it’s non longer oil. Pouring soap down the drain isn’t illegal, is it?
I didn’t say pouring soap down is illegal, did I?
Got 'em.
Depends if it’s an OSSF system or municipal wastewater.
If it’s septic, it just fucks the landlord.
If the housing market goes into the shitter…
… the renter pays less rent.
… the home “owner” still has to pay the same mortgage, and will continue to pay so they can eventually own the house (actually own it) worth a fraction of what they paid for it.
Unless you have cash on-hand to buy a house, you have to get a mortgage. So it’s actually the bank that owns the house, they just let you live there while you pay back a large debt.
The reason why houses are so expensive is because they are considered investments, not just places to live. That creates a politcal incentive to keep housing prices high because a lot of people will lose that “equity” if the price of housing decreased. Most of the benefits listed under home “ownership” centers around a house being an investment.
The boomers aren’t getting any younger, as more of them die, more houses go onto the market while the incentive for maintaining that equity for people that already own a house decreases. That “stability” thing listed as a benefit of “owning” a house may not hold true forever.
If the housing market goes into the shitter…
… the renter pays less rent.
In nearly 30 years of renting, the rent has never gone down, regardless of what the market is doing.
Depends on location. I had a rent drop in Knoxville once. Excess units in a bad local economy will do it.
Now the key question is did it drop below the price the owner would have been paying? Assuming the owner had it for at least 3 or 4 years, the rate drop was probably still not below their loan payments based on the purchase price.
But on the other hand, if market does not go to shit, the rent increases, while your mortgage stays the same, on as asset that increases in value.
Houses may be considered an investment, but at the same time they are a place to live.
And when boomers die, their house gets inherited by a family member, not just going to a ‘pool of houses’. I think the inheritor either moves in, or sells because they already have a house
If the housing market goes into the shitter…
The owner probably still comes out ahead, no matter what.
Think of the 2008 housing crash. Must have sucked to be paying a fixed mortgage when the market went down. Except the person bought the house in 2004 and was paying the same mortgage they were then, and that’s still less than typical rent after a crash calmed things down a bit.
You don’t pay the mortgage of the house as it would sell right now, you pay the mortgage based on the purchase price that over years almost certainly trends lower. So as the landlord prices according to current market, the owner costs are largely based on the prices from years ago (except property taxes and insurance).
That’s of course assuming you have a mortgage at all, and ignoring the fact that the mortgage goes away entirely at some point.
One thing I will say where renting wins hands down is if you are going to only be there a couple of years. You probably would have needed the mortgage, the property value wouldn’t have increased by that much, and the loan origination fees, interest, and various other closing costs means you likely would lose money selling it that soon. The renter may be no worse off financially, but they are no better off then either. Except they can just leave and not worry about finding a replacement.
The boomers aren’t getting any younger, as more of them die, more houses go onto the market
Problem being that many of those houses suck. They are likely to be where there’s no housing shortage already, because no one is interested in living there. They tend to be old, and not charmingly over a hundred years old but still standing; like 50 years old with questions of asbestos and polybutylene; with dubious insulation at its best and likely decayed a bit. Terribly in need of maintenance with busted HVAC, rodent destroyed ductwork, dangerous wiring, and moldy crawlspace. Cracked foundations and sagging structures suggesting the wrong storm could just ruin it. They also tend to be relatively tiny compared to houses built in the last couple of decades. I had a boomer relative die, and what did their children manage to get for the house, after months and months on the market? $60k. We were shocked but that was actually a bit higher than houses in their area went for.
Exactly. I roll my eyes at the idiot home owners who are happy when real estate prices are going up. If the only real estate you own is the one your are living in, a price increase has zero benefits for you. You can sell it for a higher price, but unless you want to live on the streets, that means you buy another, which has also gone up in price. Congrats, I guess.
The only people benefiting are real estate investors, which 99% of people are not.
It mostly just means higher property tax.
Now there are opportunities to get better interest rates by taking a loan out on your house, but that’s depressing. It is, however, a common thing for older people who can’t live on their retirement benefits otherwise.
That effects everyone downstream. If you must dispose of grease without a grease trap but you don’t want to deal with like a trash bag situation: pour it into a disposable container and throw it in the trash.
If it’s something like bacon grease you can just wait for it to congeal and then scooped it into trash and wipe with a paper towel.
Or just pour it in an old can while warm then toss the can when it cools.
Stop treating your home like an investment. Can only end badly
If only this were true we probably wouldn’t have a housing supply crisis.
I mean, individually it’s just a poor investment choice. But individuals trying to live in their investment properties isn’t really the problem.
The modern housing supply crisis is definitely egged on by a handful of mega-funds that can snap up houses en mass at prices which are already inflated. I’m living next to an aspiring AirBnB landlord’s newest acquisition as I speak. Very unlikely she’s coming out ahead after a year of renting relative to just holding NVIDIA or Tesla. She’s definitely not getting any extra houses under her belt at this rate.
But I might suggest that the “supply crisis” is much more an “unemployment crisis”, as the gross supply of housing isn’t in shortage. It’s the location of the housing, relative to the centers of new commerce.
Case in point, Elon Musk is dumping billions of dollars into Bastrop, to rapidly develop an area that’s been overgrazed farmland for centuries. Then, when neighborhoods in Cincinnati and Detroit and even San Antonio have a relative glut of saleable real estate. The… ethnic composition of Bastrop has provided a level of appeal. But so has the pliability of the local government, which has historically been run by libertarian dipshits who spend all their time complaining about the neighboring Austin, TX college kids and granola crunching hippies while insisting deregulation and tax cuts are the only viable pathways to growth.
Now Musk has delivered on the growth, but he’s cut out all the locals from its benefit. He’s standing up his own little Network State of employee-exclusive bars, storefronts, and housing stocks, while driving long-time residents out with the sudden flood of noise and traffic.
Big investors and employers are engaged in all sorts of regulatory arbitrage and capital flight, often for very shortsighted ego-stroking gains, in order to secure an ideological end goal rather than a profitable business model. The end result is massive shiny new suburban development sometimes directly neighboring areas blighted by economic neglect. People complaining about skyrocketing housing costs who live spitting distance from some of the cheapest real estate available, entirely because of modern day redlining and private segregation.
My landlord must be in shambles
How so?
What @gaiussabinus said.
But the math of it is two-fold. Firstly - unless you’re deeply in the know - you’re always going to do better putting money into an ETF than real estate. Especially true since COVID, when the market’s been doing 20-30% annually. Secondly - the real financial benefit of home ownership is the locked-in mortgage rate, with some knock-on benefits when you make capital improvements that pay off against utilities or transportation costs long term.
The cost of flipping a home is enormous - easily 3-6% of the house’s sell-value - so the people who benefit the most from turnover tend to be the real estate agents not the homeowners. And the risk that you’ve bought into a flat or deflating housing market far outweighs the anticipated returns from short term housing flips (unless, again, you’re already a real estate agent who can eat the administrative cost of title transfers).
As a general rule, you want to buy a house with a mortgage note you can afford, keep it in good repair to minimize utilities, and then simply enjoy the fact that you don’t have a landlord threatening to raise your rents every year. Minimizing future outlays, not speculating on the future value, makes owning a home an attractive financial decision.
Loses value, maintenance, tax burden, regulatory over sight. It is a liability and always pencil it in as a liability. Only the land holds value. If you don’t live in it, its not worth it.
inflating prices for one
I mean, if I put hundreds of thousands into my home over the course of 20+ years I expect the value of my home to be more than what I bought it for.
The problem is when people just buy homes, barely upgrade any of it, and expect to double what they paid for it.
The homestead we have now u bought for $225,000 about 5 years ago. We just built a new deck extension on it. I should expect to get more than what I paid for since we have put money into this home. It’s not worth what it was 5 years ago as it’s since been updated both inside and out over those five years.
bought mine for $150k around the same time period, and added a carport to it the second year that increased the value to $189k. each year since it has increased a bit to be today worth $220k which is in line with values of other properties in this area. not a huge amount, true, but i am not here for the roi. this is my home that i will be dying in one day
Yup. Someone could offer us $1 million for our property and we’d turn it down.
We’re never leaving where we are. 14 acres on a rural dirt road and essentially one neighbour
I did this ONE time. It smelled so bad. I’m lucky it didn’t clog the drain.
Jokes aside. What do you do with the oil?
Throw it in the trash.
People talk about recycling and that makes a difference for restaurants, but at home quantities? Just put it in the trash.
Dump it in a 5l canister that I call my ‘waste oil’ canister. When its full, I take it to the recycling plant whenever I’m going there anyway.
Alternatively, make your own soap.
Put it on a bottle, and when the bottle is full take it to the used oil recycling bin in my neighborhood.
Really all of those benefits depend on the location, market, and if it’s in an HOA.
it has become common practice among people with septic tanks, be them owners or renters, to pour enough grease down their drains to cause a buffer layer to form between their effluent waters and their poop pilings. most septic servicers have even recommended it. so the right-hand picture isnt as bad as it seems. unless youre on city sewer ;)
How would pouring it down the sink help anything? It’s going to immediately hit cold water and congeal in the trap under the sink.
if you use a dishwasher, youre possibly releasing oils and greases into the pipes there enough for the crust to build up in the tank enough between pump-outs. pouring it down your sink drain is overkill in more ways than one
If your septic is working well and you aren’t killing the bacteria in it with excessive soap, you don’t need pump-outs at all, but that still doesn’t explain how pouring grease down the sink could ever help. It won’t even if what you mention about the septic layers is true.
If you pour grease down the sink it’s just going to congeal in your trap under the sink and eventually cause you nothing but grief.
you WILL need pump-outs no matter how well maintained it is. the tanks are finite as far as solids containment is concerned. if you never pooped or wsshed dishes/clothes at home, then yeah you could make it last a very long time with just piss. have never heard of anyone going that route
Hmmm. So renters are stupid and lazy.
If the furnace goes out its the landlord who pays - Renting
If the furnace goes out you are out $1000s - Home Owner
Only one I can think of is the cost of fixing shit.
Counterpoint: the landlord is paying with your rent money. You’re still out just as much, just spread out monthly with a profit margin on top.
You’re still out just as much
And then some. The landlord’s profit.
It would be cool if you could run a coop where you all paid in the amortized cost of repairs on a schedule and if an incident happened before expected you withdraw the cash and keep paying in after.
But this would get abused on both ends by fraudulent claims and petty managers. You’d have to be very selective.
that’s how it works if you own a flat, things like heating or repairs of shared parts are paid from common fund
If we’re talking a major cost, the landlord will probably amortize it over a long period, so if you’re only renting a short period you won’t pay for it all.
Unless you have enough cash to buy a house, the bank is making a profit margin on the mortgage.
And landlords are making a profit margin on a mortgage as well, unless they own it, then they make an even bigger margin
Windows, radiators and water heater are 30+ years old and heat has to be on full blast 24/7 to keep the place above 20C in the winter, and multiple window AC units are required to keep the place below 30C in the summer. Landlord pays nothing to update, and renter keeps paying huge energy bills, and being uncomfortable the whole time. - renting
Homeowner spends a few grand to buy efficient furnace, central AC, and windows and saves money on energy bills every month and upgelrades pay for themselves while staying nice and comfy. - home owner
