Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(SFGate)   Rarely is the question asked... Won't somebody please think of the landlords?   (sfgate.com) divider line
    More: Facepalm, Money, Twitter, Renting, Airbnb's latest attempt, online vacation, San Francisco, kindness cards, Wall Street Journal  
•       •       •

1175 clicks; posted to Business » on 15 Jul 2020 at 12:53 AM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



61 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | » | Newest | Show all

 
2020-07-14 11:55:38 PM  
I hope every host loses their 2nd-nth Airbnb home to foreclosure.
 
2020-07-15 12:22:22 AM  

Cubansaltyballs: I hope every host loses their 2nd-nth Airbnb home to foreclosure.


Maybe I'm a ghoul for thinking this, but I'm just waiting for the bottom to drop out if the market so
I can afford a house.
 
2020-07-15 12:59:25 AM  
Fark user imageView Full Size
 
2020-07-15 1:09:01 AM  
While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.
 
2020-07-15 1:21:21 AM  

Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.



Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.
 
2020-07-15 1:30:51 AM  
AirBnB is creepy as fark - who ever thought that staying at a random strangers place was cool? Jesus it's like all of these people wanted to be filmed while farking and or shiatting.
 
2020-07-15 1:32:08 AM  
Dead Kennedys - Let's Lynch The Landlord
Youtube aCiYmCVikjo
 
2020-07-15 1:37:16 AM  

Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?


Maybe they could get jobs.
 
2020-07-15 1:39:38 AM  
Historically, the landlord class has always been despised and they have frequently been the cause of local revolts.  I'm sure we're all just holding moments of silence and prayer for them and hoping they make it through this with their property holdings intact.  I mean, we've all learned that property is more important than life itself over the last year, right?
 
2020-07-15 1:40:09 AM  
Brian Chesky
Aug 2008-
Fark user imageView Full Size


...Brian Joseph Chesky is an American businessman, and industrial designer. He is the co-founder and CEO of the peer to peer lodging service Airbnb. Chesky was named one of Time's "100 Most Influential People of 2015"...

Net worth: 3.1 billion USD (2020)

Briancan't help the hosts out. He's gotta tip the bellboy at The Ritz.


...
 
2020-07-15 1:55:37 AM  

apathy2673: Brian Chesky
Aug 2008-
[Fark user image 151x151]

...Brian Joseph Chesky is an American businessman, and industrial designer. He is the co-founder and CEO of the peer to peer lodging service Airbnb. Chesky was named one of Time's "100 Most Influential People of 2015"...

Net worth: 3.1 billion USD (2020)

Briancan't help the hosts out. He's gotta tip the bellboy at The Ritz.


...


He's 12?
 
2020-07-15 2:47:13 AM  

JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.


>It isn't immoral for landlords to siphon infinite free income from their renters' wages, because landlords take on the risk of property investment: if values go down they're exposed to financial loss in a way renters are not.

>OH NO OH NO SH*T SH*T SH*T PROPERTY VALUES ARE GOING DOWN WE NEED TO BAIL OUT LANDLORDS RIGHT AWAY OR ELSE THEY MIGHT LOSE MONEY ON THEIR INVESTMENTS
 
2020-07-15 2:52:34 AM  
There's just one thing that gives me pause here.

Yeah, it's great if a bunch of douches who've helped fark up the cost of living in a lot of cities get driven into bankruptcy.  And foreclosing on their rental properties will help drive down the market.

BUT... who benefited from a lot of those foreclosures in 2008?  Motherfarking hedge funds, who saw an opportunity to swoop in and vacuum up vast quantities of foreclosed properties at bargain basement prices.  Now they essentially serve as nationwide slumlords, with jacked up rents and a reputation for never doing maintenance and evicting tenants who complain.

So be careful what you wish for.
 
2020-07-15 2:56:47 AM  
Fark user imageView Full Size
 
2020-07-15 3:21:24 AM  
Maybe the landlords wouldn't be in such dire straits if they, oh, I dunno, got a farking job, instead of sucking the life out of the economy like some sort of money-vampire, demanding higher and higher rents, while they sit back and do absolutely nothing.

fark the landlords. Let them go under. They let us go under in 2008. Turnabout is fair play.

Oh, and if you're a landlord? I don't care how hard you think you work. Get bent.
 
2020-07-15 3:47:43 AM  

Secret Troll Alt: .....

fark the landlords. Let them go under. They let us go under in 2008. Turnabout is fair play.

Oh, and if you're a landlord? I don't care how hard you think you work. Get bent.


Landlord here. I'm a builder and work 44+ hours a week in the pissing rain or stinking heat with two collapsed discs in my back for added fun.  I keep my properties well maintained (maintenance is cheaper than repairs) and I like to keep my tenants happy since they will stay longer and be more likely to look after my houses.  Not all landlords are arseholes but I acknowledge there are plenty who give the rest of us a bad name.

Air BnB landlords are another kettle of fish, they farked up the market for tenants in many touristy destinations due to their greed.
 
2020-07-15 3:54:12 AM  
Landlords are eligible for forbearance agreements. Depending on your lender, you can get 6 - 12 months with no payments and no damage to your credit. Not sure how the missed payments are repaid, but if it's the same as standard home loans, missed payments are added on to the end of the loan. No additional interest.

Pretty sure Fannie Mae and Freddie Mac loans are covered. If you're a landlord and not sure, call whomever services your loan.
 
2020-07-15 4:10:07 AM  

phishrace: Landlords are eligible for forbearance agreements. Depending on your lender, you can get 6 - 12 months with no payments and no damage to your credit. Not sure how the missed payments are repaid, but if it's the same as standard home loans, missed payments are added on to the end of the loan. No additional interest.

Pretty sure Fannie Mae and Freddie Mac loans are covered. If you're a landlord and not sure, call whomever services your loan.


Well I think there is a difference between someone owning the property (maybe their first starter home) and renting it out vs taking out another mortgage to buy a property that goes straight to Airbnb.
 
2020-07-15 4:22:37 AM  

John Hopoate: Secret Troll Alt: .....

fark the landlords. Let them go under. They let us go under in 2008. Turnabout is fair play.

Oh, and if you're a landlord? I don't care how hard you think you work. Get bent.

Landlord here. I'm a builder and work 44+ hours a week in the pissing rain or stinking heat with two collapsed discs in my back for added fun.  I keep my properties well maintained (maintenance is cheaper than repairs) and I like to keep my tenants happy since they will stay longer and be more likely to look after my houses.  Not all landlords are arseholes but I acknowledge there are plenty who give the rest of us a bad name.

Air BnB landlords are another kettle of fish, they farked up the market for tenants in many touristy destinations due to their greed.



Building, maintaining, and repairing are essential jobs that deserve to be highly compensated. Owning is not.
 
2020-07-15 5:22:48 AM  

JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.


pkjun: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?

Maybe they could get jobs.


pkjun: JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.

>It isn't immoral for landlords to siphon infinite free income from their renters' wages, because landlords take on the risk of property investment: if values go down they're exposed to financial loss in a way renters are not.

>OH NO OH NO SH*T SH*T SH*T PROPERTY VALUES ARE GOING DOWN WE NEED TO BAIL OUT LANDLORDS RIGHT AWAY OR ELSE THEY MIGHT LOSE MONEY ON THEIR INVESTMENTS


Not really what I'm on about.  Regardless of the long term resolution, what happens to all the renters just trying to survive wherever they are is my concern.  Shiatloads of people unable to get critical shiat fixed, decaying properties, hell if you flat out handed the property off most renters don't have enough income to do some of those critical repairs, especially now.

I'm not writing a "Won't someone think of the landlords" I'm writing "Won't someone stop and think what's gonna happen to the damn renters while we try to figure this shiat out."
 
2020-07-15 6:13:17 AM  

pkjun: John Hopoate: Secret Troll Alt: .....

fark the landlords. Let them go under. They let us go under in 2008. Turnabout is fair play.

Oh, and if you're a landlord? I don't care how hard you think you work. Get bent.

Landlord here. I'm a builder and work 44+ hours a week in the pissing rain or stinking heat with two collapsed discs in my back for added fun.  I keep my properties well maintained (maintenance is cheaper than repairs) and I like to keep my tenants happy since they will stay longer and be more likely to look after my houses.  Not all landlords are arseholes but I acknowledge there are plenty who give the rest of us a bad name.

Air BnB landlords are another kettle of fish, they farked up the market for tenants in many touristy destinations due to their greed.


Building, maintaining, and repairing are essential jobs that deserve to be highly compensated. Owning is not.


So Hotels should also not exist as well?  They own the room and you rent it (for the night/week).  Landlords are letting people who can't afford to own a home (or don't want to buy one depending on their circumstances) to pay monthly to have a place to live.  They are providing a service for money.

Slumlords can fark off.
AirBnB can fark off.

Not all landlords are slumlords.
 
2020-07-15 6:27:13 AM  

Some Junkie Cosmonaut: Not really what I'm on about.  Regardless of the long term resolution, what happens to all the renters just trying to survive wherever they are is my concern.  Shiatloads of people unable to get critical shiat fixed, decaying properties, hell if you flat out handed the property off most renters don't have enough income to do some of those critical repairs, especially now.

I'm not writing a "Won't someone think of the landlords" I'm writing "Won't someone stop and think what's gonna happen to the damn renters while we try to figure this shiat out."


Fark user imageView Full Size
 
2020-07-15 6:29:00 AM  
Fark user imageView Full Size


/Take two
 
2020-07-15 6:49:40 AM  
It's just as good as GrubHub trying to tell me "Restaurants are our families"
 
2020-07-15 7:19:55 AM  
I've spent the last 5 years seeing CNBC articles about these 30 something Airbnb millionaires and wondering how long that would last.  I didn't anticipate a pandemic.  I just thought the idea that we could all be millionaires by leveraging up to our eyeballs in rental properties seemed unlikely.

February 28:  Right before the wheels came off:  He achieved that goal at 25 when his net worth crossed $1 million, thanks to smart real estate investing with his wife, Angela. Today, he brings in $615,000 annually thanks to a mix of income from rental propertieshttps://www.cnbc.com/2020/​02/28/budget​-of-millennial-millionaire-who-saves-8​0percent-of-his-income.html
 
2020-07-15 7:26:03 AM  

sleze: pkjun:

Building, maintaining, and repairing are essential jobs that deserve to be highly compensated. Owning is not.

Landlords are letting people who can't afford to own a home (or don't want to buy one depending on their circumstances) to pay monthly to have a place to live.  They are providing a service for money.


Renters generally "can't afford a home" because 1/3 to 1/2 their income goes towards paying off their landlord's mortgage, and that mortgage is generally so expensive because the landlord needed to outbid other would-be landlords also looking to extract rents from tenants. They're providing a "service" that is only "essential" because of scarcity they themselves create.
 
2020-07-15 8:05:06 AM  

pkjun: JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.

>It isn't immoral for landlords to siphon infinite free income from their renters' wages, because landlords take on the risk of property investment: if values go down they're exposed to financial loss in a way renters are not.

>OH NO OH NO SH*T SH*T SH*T PROPERTY VALUES ARE GOING DOWN WE NEED TO BAIL OUT LANDLORDS RIGHT AWAY OR ELSE THEY MIGHT LOSE MONEY ON THEIR INVESTMENTS


It's seems a constant story.
Banks: We have to charge exorbitant interest rates because of the risk.
<high risk lendees default >
Banks:  We need a bailout.  Who could of anticipated a default?
 
2020-07-15 8:06:52 AM  

Corydon: There's just one thing that gives me pause here.

Yeah, it's great if a bunch of douches who've helped fark up the cost of living in a lot of cities get driven into bankruptcy.  And foreclosing on their rental properties will help drive down the market.

BUT... who benefited from a lot of those foreclosures in 2008?  Motherfarking hedge funds, who saw an opportunity to swoop in and vacuum up vast quantities of foreclosed properties at bargain basement prices.  Now they essentially serve as nationwide slumlords, with jacked up rents and a reputation for never doing maintenance and evicting tenants who complain.

So be careful what you wish for.


Great article from NY Review of Books.
Housing vultures
 
2020-07-15 8:35:42 AM  

Corydon: There's just one thing that gives me pause here.

Yeah, it's great if a bunch of douches who've helped fark up the cost of living in a lot of cities get driven into bankruptcy.  And foreclosing on their rental properties will help drive down the market.

BUT... who benefited from a lot of those foreclosures in 2008?  Motherfarking hedge funds, who saw an opportunity to swoop in and vacuum up vast quantities of foreclosed properties at bargain basement prices.  Now they essentially serve as nationwide slumlords, with jacked up rents and a reputation for never doing maintenance and evicting tenants who complain.

So be careful what you wish for.


We could impose high tax structures on corporate entities owning more than X property zoned for residential use.

Considering housing is essential for all, there should be a massively competitive market. Multiple landlords each competing for good renters drives down the profit margin for rent and keeps prices stable. And dickhead landlords quickly lose their good renters since switching cost is relatively low.
 
2020-07-15 8:37:18 AM  

Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Tim Geithner created an auction marketplace after the 2008 crisis.  Foreclosed properties were bundled into tranches, typically 500 to 5,000 homes with a price of $500 to $1000 per house.  You had to "qualify" to bid of course.

If there are mass bankruptcies by the little people next month, then the international REITs will scoop them up for pennies on the dollar at government auction, perform minimal rehab, and rent them out to the newly homeless with large government subsidies.  They will be in the money the moment they win the auction bids and very profitable with federal and state government paying the rents.  If the market comes back they can sell the homes at a massive profit, with big tax breaks.  The other big federal subsidy is that they can depreciate 100% of the assessed value of those properties in 2020.  Not bad.

Hey you good to pay taxes on your unemployment benefits takers?
 
2020-07-15 8:52:05 AM  
Smart landlords won't evict an otherwise good tenant for missing even a few months rent if there are no other tenants to replace them. Smart landlords may in some circumstances choose to allow a property to remain empty for a short period rather than discount rent. But smart landlords realize the current issues affect all retail businesses (for commercial) and many people (for residential).

Many landlords are not smart.
 
2020-07-15 9:15:24 AM  
I have some sympathy for landlords who can't collect rent but have their own mortgages on the property to pay.  Perhaps they can get relief similar to what is being given to their renters. However, maybe purchasing an investment property wasn't such a good investment. For Air BNB, too bad. I have no sympathy for people trying to cash in on the vacation market. You are not providing a home for someone.
 
2020-07-15 9:29:18 AM  

mcmnky: Smart landlords won't evict an otherwise good tenant for missing even a few months rent if there are no other tenants to replace them. Smart landlords may in some circumstances choose to allow a property to remain empty for a short period rather than discount rent. But smart landlords realize the current issues affect all retail businesses (for commercial) and many people (for residential).

Many landlords are not smart.


Rents are dropping fast here in Boston.
The other side of the crisis is commercial office space.  I doubt that market will fully recover.
 
2020-07-15 9:38:39 AM  

Northern: mcmnky: Smart landlords won't evict an otherwise good tenant for missing even a few months rent if there are no other tenants to replace them. Smart landlords may in some circumstances choose to allow a property to remain empty for a short period rather than discount rent. But smart landlords realize the current issues affect all retail businesses (for commercial) and many people (for residential).

Many landlords are not smart.

Rents are dropping fast here in Boston.
The other side of the crisis is commercial office space.  I doubt that market will fully recover.


Oh, yeah. That steady stream of students coming in every September won't be the same this year. Surprised I haven't heard about landlords joining Harvard and MIT in fighting deportation of those on student visas taking online classes.
 
2020-07-15 9:39:19 AM  

JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.


How does this shiat get smarted?

OWNING DOESNT WORK FOR EVERYONE.  Some people like not having to worry about upkeep and maintenance.  Some people only need an apartment in a specific area for a year or two.  Having rental properties is economically efficient.

Air bnb can go fark itself, however.  That screwed up the efficiencies.
 
2020-07-15 9:39:23 AM  
Renters generally "can't afford a home" because 1/3 to 1/2 their income goes towards paying off their landlord's mortgage, and that mortgage is generally so expensive because the landlord needed to outbid other would-be landlords also looking to extract rents from tenants. They're providing a "service" that is only "essential" because of scarcity they themselves create.

We held on to our starter home after we outgrew it and rented it out. And after a decade of that it became such a pain to be a "landlord" that after the last tenant moved out we sold the house. So what was once a $700 rental is now someone's $1000 payment. Draw your own conclusions.
 
2020-07-15 9:55:59 AM  

Benevolent Misanthrope: Cubansaltyballs: I hope every host loses their 2nd-nth Airbnb home to foreclosure.

Maybe I'm a ghoul for thinking this, but I'm just waiting for the bottom to drop out if the market so
I can afford a house.


Sadly is 08 is any guide, what will happen is that when FHFA gets stuck with thousands of homes via foreclosure a well capitalized hedge fund will swoop in and offer to buy all of them as a package deal (and demand a "bulk discount" of around 75% off of fmv, of course) and then rent them out to people whose credit no longer qualfies them for a mortgage because they lost a house in froeclosure
 
2020-07-15 10:02:00 AM  
Tldr: townhouse where I live at is being turned into a condominium, and I went to a legal notice/informative meeting about tenant rights. Had a conversation with the property owner, he gave me his business card if I had follow-up questions.

To when I asked follow-up questions, he told me to fark off. He wouldn't "dignify" answering someone asking questions while performing online research while house-hunting.

I called him out on his arrogance, and told him that if he wanted to sell housing to "single, tech-savvy men moving into town for jobs" - a description that mostly fits me - he better get used to people doing online property research during a pandemic.

I, however, neglected to tell him that the IT and software development industry is going through a work-from-home transformation, and that "single men moving into town for high-paying tech jobs" isn't a real possibility anymore, and that he has  deluded himself into thinking he can flood the market with 150 new condos with an asking price that's $100K higher than they're worth.
 
2020-07-15 10:26:09 AM  

JRoo: Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.


That is one man's opinion, but years of reading fark have taught me that owning a home is a scam.
 
2020-07-15 10:34:52 AM  

stappawho: JRoo: Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

That is one man's opinion, but years of reading fark have taught me that owning a home is a scam.


It is true that a large number of farkers show up in rent vs own threads and say they prefer renting.

If it weren't so difficult to search Fark.com I'd peruse a few of those threads and see what the Venn diagram of those who pushed renting and those who hate landlords is.
 
2020-07-15 10:44:09 AM  

pkjun: Building, maintaining, and repairing are essential jobs that deserve to be highly compensated. Owning is not.


So you don't like slumlords. Great, nobody does.

Renters get value out if renting vs owning: they aren't locked in long-term, they have lower up front costs, and they don't get surprise bills that come due.

You cannot separate owning from maintaining and repairing (slumlords notwithstanding), but owning IS something deserving of compensation. That's how it works with literally any other good that is rentable. From kayaks to tools to cars, companies and people take on up front costs and long-term responsibilities. Why should housing be any different?

Now, if you wish to say it should be different because homes are a need and not a want, I get that. What's the solution?
 
2020-07-15 11:09:32 AM  

Smackledorfer: pkjun: Building, maintaining, and repairing are essential jobs that deserve to be highly compensated. Owning is not.

So you don't like slumlords. Great, nobody does.

Renters get value out if renting vs owning: they aren't locked in long-term, they have lower up front costs, and they don't get surprise bills that come due.

You cannot separate owning from maintaining and repairing (slumlords notwithstanding), but owning IS something deserving of compensation. That's how it works with literally any other good that is rentable. From kayaks to tools to cars, companies and people take on up front costs and long-term responsibilities. Why should housing be any different?

Now, if you wish to say it should be different because homes are a need and not a want, I get that. What's the solution?


So we're agreed:

1. Talking about bailing out landlords is ridiculous, because the justification for getting to have someone else pay their mortgage is that they took on long term risks, and "maybe you won't find a tenant" is one of those risks.

2. Housing is an essential need and, like healthcare, is not comparable to a kayak or a leaf blower -- it does not respond to supply and demand, because the consumer does not have the option of not buying the product, which creates all sorts of market distortions including an incentive to suppress supply.

How we deal with those issues is a very big question. But I think we are moving towards agreeing on the problem at least. The solution is an entirely different set of debates, and one not really suited to the big ball squirrel message board for funny memes.
 
2020-07-15 11:13:06 AM  
(Which isn't to say I'm not willing to have it, but consensus on solutions does require consensus on problems. "What's your solution" as a challenge is so often just an attempt to shift the focus from the concrete problems of reality to a search for hypothetical problems of one particular hypothetical solution: navel-gazing to avoid what's in front of your face.)
 
2020-07-15 11:20:52 AM  

Some Junkie Cosmonaut: unable to maintain properties


I've never met a landlord who maintains their property besides the absolute bare minimum..

That might cut into that sweet sweet profit.
 
2020-07-15 11:22:47 AM  

Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Yeah but it'll cut down on starry-eyed articles about rich millennials who own two dozen rental properties and make $X00,000 per year through hard work and bootstraps or whatever.

Those are ass cancer.
 
2020-07-15 11:23:54 AM  

Cubansaltyballs: I hope every host loses their 2nd-nth Airbnb home to foreclosure.


"I can't make money off my rental" -landlords

Sounds like a bad investment to me. Time to de-invest the asset.
 
2020-07-15 11:25:08 AM  

Some Junkie Cosmonaut: The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?


They could do what any other normal investor does and sell it.
 
2020-07-15 11:27:42 AM  

Rapmaster2000: I've spent the last 5 years seeing CNBC articles about these 30 something Airbnb millionaires and wondering how long that would last.  I didn't anticipate a pandemic.  I just thought the idea that we could all be millionaires by leveraging up to our eyeballs in rental properties seemed unlikely.

February 28:  Right before the wheels came off:  He achieved that goal at 25 when his net worth crossed $1 million, thanks to smart real estate investing with his wife, Angela. Today, he brings in $615,000 annually thanks to a mix of income from rental propertieshttps://www.cnbc.com/2020/02​/28/budget-of-millennial-millionaire-w​ho-saves-80percent-of-his-income.html


Yes. Articles like that are ass cancer.
 
2020-07-15 11:27:46 AM  

JRoo: Some Junkie Cosmonaut: While it isn't what the article about, the general question has occurred to me, and not in a "Ha ha" way.  The fark are we gonna do with tons of landlords out of money, unable to maintain properties, in some cases unable to maintain payments on properties and losing them?   So now what happens to the people renting when whoever owns them now swans in?  What happens if no one swans in and they're essentially squatting?  Pipes broke?  AC down?  Oh well guess you're screwed!

As satisfying as it can be to think of the asshole and abusive landlords getting theirs, landlords in general are getting the shaft as well as far as income coming in in a lot of cases.  That could be really, REALLY farking ugly right quick.


Maybe we could let families and people own houses, then the people who own and live in the houses could be responsible for them.

I mean, why the hell should we keep being forced to support banks and landlords over everyone else? Other than being forced to by our corrupt government, that is.


The city of Minneapolis wants high density, and the way to get that is make everyone a renter in a big building.  They are doing everything they can to get rid of single family homes, and it is working because they just celebrated more than 50% of residents are now renters.  They also really like the fact that taxes are higher for rental property.   It's a major reason why people do not build up wealth, because it is unlikely in a rental.
 
2020-07-15 11:28:24 AM  

John Hopoate: Secret Troll Alt: .....

fark the landlords. Let them go under. They let us go under in 2008. Turnabout is fair play.

Oh, and if you're a landlord? I don't care how hard you think you work. Get bent.

Landlord here. I'm a builder and work 44+ hours a week in the pissing rain or stinking heat with two collapsed discs in my back for added fun.  I keep my properties well maintained (maintenance is cheaper than repairs) and I like to keep my tenants happy since they will stay longer and be more likely to look after my houses.  Not all landlords are arseholes but I acknowledge there are plenty who give the rest of us a bad name.

Air BnB landlords are another kettle of fish, they farked up the market for tenants in many touristy destinations due to their greed.


The only real problem landlords I hate are slum lords and the ones that act like landlords are doing charity work. No, you're a business. You fail because you over extended your credit leaving yourself unable to weather a downturn and too stupid to sell the asset goodbye.
 
Displayed 50 of 61 comments


Oldest | « | 1 | 2 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter



  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.