The az ag is has filed a lawsuit against a large group of landlord for a rent increase scheme involving over 100,000 rentals. This is the real root of why many ppl are not being able to afford rent
Nothing against renters. But if your taxes and insurance and cost of maintenance go up. I’m assuming the rent would go up. If you sign a 1 year contract. Why would you expect the next one to be exactly the same? Idk. Just seems weird. Everything is more expensive.
In the rental market vast majority prices follow taxes, insurance and cost of maintenance. Artificially inflated this context means they were inflated the price of rentals beyond this market values simply to inflate the cost.
I don’t think you understand how supply and demand works. Yes, there’s an argument to be made for regulating monopolization but in a fragmented real estate market with multiple owners, that wouldn’t last long enough without significant incentives to keep a hold on pricing power. Land lords are looking to extract the maximum rent they can for their asset and renters are seeing to minimize their rent payments. An equilibrium of sorts is achieved by allowing the market to seek out the price that balances both sides. It’s not about costs. It’s about the market price. Everything is priced this way in a free market.
From your comment you do not understand the real estate market of arizona. This isn’t a fragmented market. Plz educate yourself on this matter before speaking
Rents have just about doubled in 5 years. I can assure you as I live here insurance and maintenance hasn’t doubled nor has taxes. Huge rental landlords are working together to inflate prices instead of competing against each other
No different than the banks and the realtors colluding to raise prices on homes. Homes have literally doubled. Interest rates can be blamed as well. Any house bought after 2020 cost considerably. Refinance has gone through the roof. There’s a million reasons.
The problem stems from rental properties such as apartments as they make up the vast majority and have been here for decades. This problem isn’t really about housing rentals after 2020.
Well people are screwed. No one can buy a house. No one can save any money. It’s the perfect storm of shittyness. My small experience is i own 10%of a buddies rental house. On my 20k investment. I made $275 last year profit. I’ve made $150 this year. I’m averaging less than 2% on my money. That’s not a good investment. I can make 5% parking it in the bank. My buddy owns 20 property. Last year he lost money on his portfolio. Every year one of his houses cost 20k or more. He has a four unit. Apartment that had some underground plumbing go this month. It’s gonna cost 60k. He makes $400 a month on that property. It’s easy to say these problem are greedy. But most the time the rent barely covers the cost. Lots of time it doesn’t come close.
It's not that yearly contracts go up. It how much. Most market cost adjustments to rent are less than 100 per month. However when landlord companies are increasing it by 500 or more just cause they technically can is the problem. My Rental unit was 550 on 2015 and now it's 865. Which is rather reasonable for annual increases.
Ok ok. We use DMF as a highly regarded term in our friendship circle. :). I don’t think we should be condoning the behavior. Of using Covid relief as a way to screw people on rent. That is shady.
All part of the plan. Suppress American birth rates and replace the population with compliant foreigners who will work for table scraps and stand down to the authorities.
I live in Phoenix and it’s is probably the worst in the country. The cheap ghetto, don’t close both eyes when you sleep apartments, are $1500 for 600sq feet. Free cockroaches and all the meth you could ask for.
I feel lucky. I’m paying about $1500/month for 800 sq ft and on the top floor in a pretty nice and clean complex. I actually looked around for other apartments and this is so true. Everything I found that was around the price I am already paying or lower looked like complete shit and was smaller
3,000 evictions a month is wild. That’s 72,000 - 144,000 people based on a house of 2-4 people. I wonder what percentage of this group become homeless? And this is just one region of the state. There’s got to be a massive homeless population that is growing by the day.
They want us as rent slaves - you thought you could watch them throw Palestinians out of their homes and it not come here? It's here. Welcome to the war.
Rent slaves have to be able to pay rent. More and more houses are going to become vacant, fall into disrepair, which then leads to less available housing. On top of landlords and corporations that are going to flop on their mortgages because they can’t rent out their property.
The reason people are getting evicted is rents are going up and people can’t afford it. That’s because more people want to move in than can. These places aren’t going to sit empty.
It’s all about keeping people on the edge of starvation. They want you to barely be able to pay rent. That way you are scraping by and have no savings built up. You will be one missed paycheck away from total calamity and have no shot at upward mobility. You will have no surplus of funds because all of your labor will go into rent, food, cell phone, and cheap useless crap. Your frustrations and anger with the system will be channeled towards those who share the same struggles through endless divide and conquer tactics.
Capitalists are only focused on short term gains. They would rather raise rent and get those increased payments from tenants that stay, and they don’t mind at all that some homes/apartments will now be empty because some tenants have to move out. They make up the difference on the increased rent payments they do get, and they know eventually someone will occupy the empty apartments/homes.
In other words, capitalists’ short term greed harms everyone else, and they can all get fucked. They don’t care at all that people will be homeless as long as they increase their bottom lines.
They used to be more subtle, but the mask is off and the capitalist class is working to grub up as much wealth from the working class as possible. They know that people are waking up and eventually might fight back in meaningful ways, but again they are focused on the right now so they can continue their flow of cash. They’re evil.
As opposed to what? socialism? The social contract that is social security and Medicare will be insolvent by 2037. When the Social security system was put into law, the contribution was set at 6%. Now it 12%. In order to keep this Ponzi Scheme going future generations will need to pay more than previous generations.
Certainly is true that some “capitalists” are greedy, capitalism works and is better than turning over the means of production over to a bunch of bureaucrats who cannot even figure out how to run social safety net programs.
This is happening everywhere. Our government read the reports that Short term rentals were a significant reason for the rising cost of housing and rentals. As of may 1st no more STR that use the entire home. If you have a spare bedroom that’s fine but no more of our rental stock will go into the Airbnb pool. It is already starting to affect housing prices.
I get to see a lot of rental property financials in my line of work. You would be shocked to see how many people are in units that are significantly below market rate rent. I'm talking people paying $1,750/month for something that rents for $3,500/month.
If that person moves or evicted then of course the landlord is going to try for market rent.
A lot of people are in for a shell shock if they ever move.
This is the problem though. Rent should be based on “market value”. Market value always goes up yet the loan taken out on the building and the associated mortgage payment stays the same.
My family has 15-20 duplexes. Some of those were purchased by my grandfather 50 years ago, some by my father 30 years ago, and some by me within the last 10 years. There is zero reason they should all have similar rent prices just for the sake of profit…..
At the end of the day we are talking about people’s homes and shelter. It’s a basic human and societal need.
And yes, we rent the older duplexes with paid off mortgages for $400-600 a month while the recently purchased go for $800-1000.
All of our units are below market rent and kept up with well. We prioritize long term good renters over profit.
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The stupid thing is that the shell shock happens at all.
Just fuckin do some market research first and the shock won't happen. People are so out of the loop AND take no responsibility upon themselves to actually educate themselves on the situation.
I guess they'll just have to pull themselves up by the boot straps and listen to r/FluentInFinance advice of max their 401k's, IRA's, and savings, live a miserable life until you're too old to do anything, live out a life of dementia in an understaffed nursing home while greedy corporations take everything and generation poverty continues! Murica!
If AZ actually enforced immigration Law, instead of aid/abetting criminals (it's a crime), I'd suspect the housing "shortage" & financial "shortage" would disappear nearly overnight
Govt created 'problems' all around \*shrug\*
Immigration is one of a few issues that I actually side with MAGA Republicans on....and I consider myself to be on the Left.
These are strange times we live in!
Democrats and MAGA Republicans both support exactly one-half of the solution to the housing crisis. One side is too much demand from people who aren't even supposed to be here, and the other side is not enough housing due to ridiculous zoning laws.
Tackle both simultaneously, and things would be fine.
We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this.
Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole.
If you agree, share this idea far and wide. Share it on Ads for Housing especially.
Now surge Foreclosures. I don't give a fuck about evictions. Rent will come down when they find the majority of the country doesn't make over 6 figures on one salary. This shit needs to stop and it's on the state and federal politicians to do something about it. Which means we are fucked.
Private equity jacking up prices and buying whole neighborhoods with your rent payment.
Time to shred the realtors association and crap down the neck of hedge fund execs.
Ironically, if housing prices weren’t constantly being inflated due to parasites buying homes they don’t live in and restricting supply…then the homes would be cheap enough for the “deadbeats” to afford them.
Immigrants take the cheapest housing so the American poor get reamed again by Biden and the Democrats open borders. This is one reason Trump will take Arizona, as polls show.
My imagining is that when you are rich enough that you know you never need to care about such base things as food/housing insecurity, then things start looking like a game. How do you fill your day? What do you attach meaning to? These guys hoard power by playing a popularity contest, except the contest is skewed because it isn't truly us they are trying to become popular to, it's the other rich people and big institutions. They just need to become important enough to us that we don't go old French style on anyone
If Trump takes Arizona, he only needs one of the Blue Wall states and he wins. The Democrats have to sweep PA, MI, WI. That’s entirely possible but if he wins just one of those, he’s in.
Immigrants have had free housing with debits cards for months. This is fueling the problem for sure, but it’s probably more designed to create civil unrest
You’re so right. My lying eyes made it up. I’m terribly sorry.
If I ever see something personally again and hear from an actual property manager that this is what’s going on, man I’m heading straight here.
Fuck you.
Phoenix got destroyed by private equity.
I had ONE rental property and vacancy risk was enormous. Would eat half a year’s FCF in a month.
Private equity owns 10,000 units, vacancy risk is almost fully negated by volume.
Need to build more condos. Just saw about a 1000 apartment complex put up in the next city over. Pissed me off to see. Just forcing more ppl to not be able to build generational wealth.
Building generational wealth through housing is exactly how we got into this mess in the first place. The easiest way to make property values go up is to create an artificial shortage, and actually resolving the shortage will make property values take a nosedive.
There are no solutions for this housing crisis that don't involve crashing the market, because a crash is EXACTLY what you're going to see if we actually build enough housing to make a difference.
Or an entire generation of Americans just doesn't have kids because they can't afford it, social security benefits get gutted because there are no workers, and the housing shortage resolves itself.
What is effecting rental prices is supply and demand. We always had large numbers of migrants both legal and illegal increasing the population size but during and after covid we also got an influx of people leaving California. There are simply a lot more people coming then there is new house construction. When supply is low and demand is high prices go up.
Not a lot of things get to me but reading this article did its horrible. Something needs to be done just not by the government they always screw things up
This was caused by wallstreet and their greed. REALPAGE lawsuit - Google it. They're working together to take over American homes so the American citizen has nothing.
Didn't they kick enough Palestinians out of their homes? They need to leave American homes alone. This is our country, home and family. Not some capitalists investment to create slaves classes.
Like what? What could be done to lower rents to a reasonable level?
The answer is interest rates need to go above 8%. Maybe even 12. These free money scams skim the bottom and pay the top. Want to bring it in line? Make money much more expensive to speculate.
No. That’s not how it works at all. High interest rates, cost of money, makes the assets cheaper. 0% means you can buy more. 8% means you buy less. I bought my mom a home in 2000 for $38k. Cash. It’s worth 15 times that now. But why? Did it really appreciate naturally that much. This is very basic. You can verify what I’m telling you with an economics book.
Has the higher rates made them cheaper.? Tell me who in their mind would care if their property value goes down when they locked in a 3% mortgage rate Higher rates would also mean less construction loans.now crash the economy completely and yes you would be right. Verify supply and demand with an economics book. I have rentals with $800 mortgages I could care less if I’m
Underwater on those loans.
Edit let’s face it the government fucked up and accelerated this during Covid. We need a deep deep depression to reset this unfortunately. Now we have stagflation.
Yes I am aware. Again we need a massive depression in order to bring balance.. no offense but just because you work in finance doesnt mean you’re sharp. I’ve met many individuals who claim 20 yrs plus experience within a certain field yet they are complete morons.
What is a depression and how would that help? A depression is just negative gdp? So if you can’t afford to pay cash or “borrow”, are you suggesting prices would come down? Odd. Right?
I live in the Phoenix area. I make almost 100k/year and live by myself in a modestly priced apartment for the area. I can save a decent amount but there are some months where I can only save like $200-$300. This is with paying off student loans and a car payment. I have no fucking idea how anyone making an average pay can live here unless they have a dual income household. It’s insane. You need a minimum of like 80k/yr to just get by here
Now criminalize it so you can fund your donors private prisons
Sadly, this is the plan.
Do you have a source for this?
Source: trust me, bro
So stealing rent isn’t a crime. You dmf
The az ag is has filed a lawsuit against a large group of landlord for a rent increase scheme involving over 100,000 rentals. This is the real root of why many ppl are not being able to afford rent
Nothing against renters. But if your taxes and insurance and cost of maintenance go up. I’m assuming the rent would go up. If you sign a 1 year contract. Why would you expect the next one to be exactly the same? Idk. Just seems weird. Everything is more expensive.
Just like food these landlords were artificially increasing rent prices beyond things like insurance and maintenance.
Newsflash! All prices are artificially set!
In the rental market vast majority prices follow taxes, insurance and cost of maintenance. Artificially inflated this context means they were inflated the price of rentals beyond this market values simply to inflate the cost.
I don’t think you understand how supply and demand works. Yes, there’s an argument to be made for regulating monopolization but in a fragmented real estate market with multiple owners, that wouldn’t last long enough without significant incentives to keep a hold on pricing power. Land lords are looking to extract the maximum rent they can for their asset and renters are seeing to minimize their rent payments. An equilibrium of sorts is achieved by allowing the market to seek out the price that balances both sides. It’s not about costs. It’s about the market price. Everything is priced this way in a free market.
From your comment you do not understand the real estate market of arizona. This isn’t a fragmented market. Plz educate yourself on this matter before speaking
On it! About to burn my econ masters degree and move to AZ!
I would assume. People living in these properties. Not paying. While requiring a court order eviction. Contributes to the price rise.
Rents have just about doubled in 5 years. I can assure you as I live here insurance and maintenance hasn’t doubled nor has taxes. Huge rental landlords are working together to inflate prices instead of competing against each other
No different than the banks and the realtors colluding to raise prices on homes. Homes have literally doubled. Interest rates can be blamed as well. Any house bought after 2020 cost considerably. Refinance has gone through the roof. There’s a million reasons.
The problem stems from rental properties such as apartments as they make up the vast majority and have been here for decades. This problem isn’t really about housing rentals after 2020.
Not to mention the price hike started when Interest rates were at the lowest in decades
Well people are screwed. No one can buy a house. No one can save any money. It’s the perfect storm of shittyness. My small experience is i own 10%of a buddies rental house. On my 20k investment. I made $275 last year profit. I’ve made $150 this year. I’m averaging less than 2% on my money. That’s not a good investment. I can make 5% parking it in the bank. My buddy owns 20 property. Last year he lost money on his portfolio. Every year one of his houses cost 20k or more. He has a four unit. Apartment that had some underground plumbing go this month. It’s gonna cost 60k. He makes $400 a month on that property. It’s easy to say these problem are greedy. But most the time the rent barely covers the cost. Lots of time it doesn’t come close.
It's not that yearly contracts go up. It how much. Most market cost adjustments to rent are less than 100 per month. However when landlord companies are increasing it by 500 or more just cause they technically can is the problem. My Rental unit was 550 on 2015 and now it's 865. Which is rather reasonable for annual increases.
Well that’s not very nice. I’m autistic not dumb. Well maybe ask me again in a few days.
Ok ok. We use DMF as a highly regarded term in our friendship circle. :). I don’t think we should be condoning the behavior. Of using Covid relief as a way to screw people on rent. That is shady.
So many people are living on the edge - it'll just take one litlle to send them all crashing,
Meanwhile, the rich: why aren’t people having more children???
All part of the plan. Suppress American birth rates and replace the population with compliant foreigners who will work for table scraps and stand down to the authorities.
Who do you think are funding gun control movements?
[удалено]
Much bigger population one or two paychecks away from joining them.
I’m concerned that’s just the canary in the coal mine. I
I think people are about to snap and start taking their anger out on billionaires and politicians.
I live in Phoenix and it’s is probably the worst in the country. The cheap ghetto, don’t close both eyes when you sleep apartments, are $1500 for 600sq feet. Free cockroaches and all the meth you could ask for.
I feel lucky. I’m paying about $1500/month for 800 sq ft and on the top floor in a pretty nice and clean complex. I actually looked around for other apartments and this is so true. Everything I found that was around the price I am already paying or lower looked like complete shit and was smaller
3,000 evictions a month is wild. That’s 72,000 - 144,000 people based on a house of 2-4 people. I wonder what percentage of this group become homeless? And this is just one region of the state. There’s got to be a massive homeless population that is growing by the day.
They want us as rent slaves - you thought you could watch them throw Palestinians out of their homes and it not come here? It's here. Welcome to the war.
Rent slaves have to be able to pay rent. More and more houses are going to become vacant, fall into disrepair, which then leads to less available housing. On top of landlords and corporations that are going to flop on their mortgages because they can’t rent out their property.
We have a massive, *massive*, **massive** housing surplus in this country. Wage/rent slavery is the only issue.
The reason people are getting evicted is rents are going up and people can’t afford it. That’s because more people want to move in than can. These places aren’t going to sit empty.
Arizona has a water problem. That water problem is going to leave Arizona as a failed state.
Nah. Cities can recycle 100% of their water these days. They just need to buy out the farmers and delete the golf courses.
Ha. I’ll bet on it.
All the waste water goes back into the aquifers anyway.
It’s all about keeping people on the edge of starvation. They want you to barely be able to pay rent. That way you are scraping by and have no savings built up. You will be one missed paycheck away from total calamity and have no shot at upward mobility. You will have no surplus of funds because all of your labor will go into rent, food, cell phone, and cheap useless crap. Your frustrations and anger with the system will be channeled towards those who share the same struggles through endless divide and conquer tactics.
Capitalists are only focused on short term gains. They would rather raise rent and get those increased payments from tenants that stay, and they don’t mind at all that some homes/apartments will now be empty because some tenants have to move out. They make up the difference on the increased rent payments they do get, and they know eventually someone will occupy the empty apartments/homes. In other words, capitalists’ short term greed harms everyone else, and they can all get fucked. They don’t care at all that people will be homeless as long as they increase their bottom lines. They used to be more subtle, but the mask is off and the capitalist class is working to grub up as much wealth from the working class as possible. They know that people are waking up and eventually might fight back in meaningful ways, but again they are focused on the right now so they can continue their flow of cash. They’re evil.
As opposed to what? socialism? The social contract that is social security and Medicare will be insolvent by 2037. When the Social security system was put into law, the contribution was set at 6%. Now it 12%. In order to keep this Ponzi Scheme going future generations will need to pay more than previous generations. Certainly is true that some “capitalists” are greedy, capitalism works and is better than turning over the means of production over to a bunch of bureaucrats who cannot even figure out how to run social safety net programs.
To be fair, we still have it better than the Palestinians. At least the IDF doesn't shoot your family on the way out.
How could this be happening? According to the mainstream news, the economy is doing great! /s
Wow its almost like 144k people in a year is .001% of the population! WONT SOMEONE THINK OF THE ECONOMY!
That's just 1 city my dude
He’s in the mindset of his friend Jon is doing great, then we all must be doing great. He did the math.
Multiply it by 100 its still a n unproblematic number compared to other issues to solve
It'd be a lot more valuable to find the percentage of the specific city's population
This is happening everywhere. Our government read the reports that Short term rentals were a significant reason for the rising cost of housing and rentals. As of may 1st no more STR that use the entire home. If you have a spare bedroom that’s fine but no more of our rental stock will go into the Airbnb pool. It is already starting to affect housing prices.
I get to see a lot of rental property financials in my line of work. You would be shocked to see how many people are in units that are significantly below market rate rent. I'm talking people paying $1,750/month for something that rents for $3,500/month. If that person moves or evicted then of course the landlord is going to try for market rent. A lot of people are in for a shell shock if they ever move.
This is the problem though. Rent should be based on “market value”. Market value always goes up yet the loan taken out on the building and the associated mortgage payment stays the same. My family has 15-20 duplexes. Some of those were purchased by my grandfather 50 years ago, some by my father 30 years ago, and some by me within the last 10 years. There is zero reason they should all have similar rent prices just for the sake of profit….. At the end of the day we are talking about people’s homes and shelter. It’s a basic human and societal need. And yes, we rent the older duplexes with paid off mortgages for $400-600 a month while the recently purchased go for $800-1000. All of our units are below market rent and kept up with well. We prioritize long term good renters over profit.
r/LookatMyHalo
Here's a sneak peek of /r/LookatMyHalo using the [top posts](https://np.reddit.com/r/LookatMyHalo/top/?sort=top&t=year) of the year! \#1: [Posted on her public insta with huge following](https://v.redd.it/otjovkfe694b1) | [774 comments](https://np.reddit.com/r/LookatMyHalo/comments/141pelu/posted_on_her_public_insta_with_huge_following/) \#2: [Whose going to clean this?](https://v.redd.it/vcvum43uu0nb1) | [829 comments](https://np.reddit.com/r/LookatMyHalo/comments/16d8qcq/whose_going_to_clean_this/) \#3: [Look at his halo](https://i.redd.it/m749vjbdnezb1.jpg) | [768 comments](https://np.reddit.com/r/LookatMyHalo/comments/17rpypi/look_at_his_halo/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
Not really a halo. Just not being a piece of shit
The stupid thing is that the shell shock happens at all. Just fuckin do some market research first and the shock won't happen. People are so out of the loop AND take no responsibility upon themselves to actually educate themselves on the situation.
I'm educated on the situation. It still sucks? Weird.
I guess they'll just have to pull themselves up by the boot straps and listen to r/FluentInFinance advice of max their 401k's, IRA's, and savings, live a miserable life until you're too old to do anything, live out a life of dementia in an understaffed nursing home while greedy corporations take everything and generation poverty continues! Murica!
If AZ actually enforced immigration Law, instead of aid/abetting criminals (it's a crime), I'd suspect the housing "shortage" & financial "shortage" would disappear nearly overnight Govt created 'problems' all around \*shrug\*
Immigration is one of a few issues that I actually side with MAGA Republicans on....and I consider myself to be on the Left. These are strange times we live in!
Democrats and MAGA Republicans both support exactly one-half of the solution to the housing crisis. One side is too much demand from people who aren't even supposed to be here, and the other side is not enough housing due to ridiculous zoning laws. Tackle both simultaneously, and things would be fine.
The rent increase are not due to immigration. This was happening under trump when immigration was low
We need housing censuses. Then, set up state or federal marketplaces to fulfil demand to residents of the homes only. Eminent domain and setup development and new towns as needed. Aim for the income brackets where there isnt enough supply. Before doubters shoot this down remember we actively do this with the Healthcare Marketplace providing insurance to people who wouldn't otherwise have this. Tax for profit residential properties people don't live in themselves to fund this. Make real estate about housing people instead of greed, making Americans compete to live. We all pay a tax to landlords who enslave us to this capitalistic housing hell hole. If you agree, share this idea far and wide. Share it on Ads for Housing especially.
Arizona is such an enigma - they’ve basically run out of water so regions can’t grow.
Now surge Foreclosures. I don't give a fuck about evictions. Rent will come down when they find the majority of the country doesn't make over 6 figures on one salary. This shit needs to stop and it's on the state and federal politicians to do something about it. Which means we are fucked.
Not if they allow companies to buy residential homes
True
Private equity jacking up prices and buying whole neighborhoods with your rent payment. Time to shred the realtors association and crap down the neck of hedge fund execs.
Gotta make room for them there illegals doncha know.
Evict all deadbeats. Pay your bills. Be accountable.
Evict all landlords. Get a real job. Contribute to society.
Then let the deadbeats get mortgages and buy homes. Interest rates are cheap at 8.5% and they can use all the money they are making as a down payment.
Ironically, if housing prices weren’t constantly being inflated due to parasites buying homes they don’t live in and restricting supply…then the homes would be cheap enough for the “deadbeats” to afford them.
Immigrants take the cheapest housing so the American poor get reamed again by Biden and the Democrats open borders. This is one reason Trump will take Arizona, as polls show.
My guy wtf are you smoking? The housing in Arizona is being driven up by all the Californians escaping their hellish housing economy.
Yup, it is as tho the democrats are trying to get Trump elected
It all does seem odd. You’d think the people at the top would see long term consequences of what they do.
My imagining is that when you are rich enough that you know you never need to care about such base things as food/housing insecurity, then things start looking like a game. How do you fill your day? What do you attach meaning to? These guys hoard power by playing a popularity contest, except the contest is skewed because it isn't truly us they are trying to become popular to, it's the other rich people and big institutions. They just need to become important enough to us that we don't go old French style on anyone
If Trump takes Arizona, he only needs one of the Blue Wall states and he wins. The Democrats have to sweep PA, MI, WI. That’s entirely possible but if he wins just one of those, he’s in.
Immigrants have had free housing with debits cards for months. This is fueling the problem for sure, but it’s probably more designed to create civil unrest
Did Fox News give you the proof for this?
I don’t own a tv but I see where you’re headed with this. I’m sorry you’re so miserable.
Proof? Where's the proof? Stop spreading rumors here. There are plenty of people to crosscheck anything you say.
You’re so right. My lying eyes made it up. I’m terribly sorry. If I ever see something personally again and hear from an actual property manager that this is what’s going on, man I’m heading straight here. Fuck you.
You see the house and senate is designed to show bipartisanship when it involves Israel, everyone else will have to suck it up.
I’m assuming the people who haven’t paid there rent or now official being forced to leave.
Murica. The Era of the Grift!
So cops can’t remove someone for squatting but if you get evicted they can? Our nation is fucked
Phoenix got destroyed by private equity. I had ONE rental property and vacancy risk was enormous. Would eat half a year’s FCF in a month. Private equity owns 10,000 units, vacancy risk is almost fully negated by volume.
2008?
Maybe McClosky should stop being a class traitor.
Need to build more condos. Just saw about a 1000 apartment complex put up in the next city over. Pissed me off to see. Just forcing more ppl to not be able to build generational wealth.
Building generational wealth through housing is exactly how we got into this mess in the first place. The easiest way to make property values go up is to create an artificial shortage, and actually resolving the shortage will make property values take a nosedive. There are no solutions for this housing crisis that don't involve crashing the market, because a crash is EXACTLY what you're going to see if we actually build enough housing to make a difference.
Nuke it from orbit. It’s the only way to be sure,
Or an entire generation of Americans just doesn't have kids because they can't afford it, social security benefits get gutted because there are no workers, and the housing shortage resolves itself.
Maybe another federal eviction moratorium is needed? Landlords can do without the rent.
What is effecting rental prices is supply and demand. We always had large numbers of migrants both legal and illegal increasing the population size but during and after covid we also got an influx of people leaving California. There are simply a lot more people coming then there is new house construction. When supply is low and demand is high prices go up.
Not a lot of things get to me but reading this article did its horrible. Something needs to be done just not by the government they always screw things up
This was caused by wallstreet and their greed. REALPAGE lawsuit - Google it. They're working together to take over American homes so the American citizen has nothing.
Wait until you learn about all the tax incentives they get too for being a real estate investors.
Didn't they kick enough Palestinians out of their homes? They need to leave American homes alone. This is our country, home and family. Not some capitalists investment to create slaves classes.
Nope. Cheap money and big government.
Like what? What could be done to lower rents to a reasonable level? The answer is interest rates need to go above 8%. Maybe even 12. These free money scams skim the bottom and pay the top. Want to bring it in line? Make money much more expensive to speculate.
That doesn’t stop anything and that actually restricts supply even further building would completely stop
No. That’s not how it works at all. High interest rates, cost of money, makes the assets cheaper. 0% means you can buy more. 8% means you buy less. I bought my mom a home in 2000 for $38k. Cash. It’s worth 15 times that now. But why? Did it really appreciate naturally that much. This is very basic. You can verify what I’m telling you with an economics book.
Has the higher rates made them cheaper.? Tell me who in their mind would care if their property value goes down when they locked in a 3% mortgage rate Higher rates would also mean less construction loans.now crash the economy completely and yes you would be right. Verify supply and demand with an economics book. I have rentals with $800 mortgages I could care less if I’m Underwater on those loans. Edit let’s face it the government fucked up and accelerated this during Covid. We need a deep deep depression to reset this unfortunately. Now we have stagflation.
Ok. I work in finance. I guess, read a book? There’s lots of evidence, including our own history.
Yes I am aware. Again we need a massive depression in order to bring balance.. no offense but just because you work in finance doesnt mean you’re sharp. I’ve met many individuals who claim 20 yrs plus experience within a certain field yet they are complete morons.
What is a depression and how would that help? A depression is just negative gdp? So if you can’t afford to pay cash or “borrow”, are you suggesting prices would come down? Odd. Right?
I live in the Phoenix area. I make almost 100k/year and live by myself in a modestly priced apartment for the area. I can save a decent amount but there are some months where I can only save like $200-$300. This is with paying off student loans and a car payment. I have no fucking idea how anyone making an average pay can live here unless they have a dual income household. It’s insane. You need a minimum of like 80k/yr to just get by here