It's even worse in cities, where REITs and other entities literally buy or construct high rises not for condos, but for rentals. It's becoming increasingly difficult to find condos listed for sale in cities, and it's becoming more common for (((developers))) to literally buy up every unit in a complex to convert to rental units.

By contrast, individual owners of residential property tend to have more skin in the game and tend to take more of an interest in their property. It applies to renters, as well: People who rent from individuals tend to be better tenants and tend to take better care of the property. Even if that were not the case, individual ownership of massive real estate rental portfolios should be discouraged because of the broader societal implications. I'd even go as far as supporting massive taxation of residential rental income because it does nothing to promote a healthy society.

Discuss.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026418)

and while we’re banning all sfh corporate landlords, ban all foreign ownership of real estate

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026423)

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026433)

And this is exactly why they can't do it. Our tenant friendly law means that a tenant can sign a lease, move in, announce on day 1 they're not paying rent, stay the duration of the lease by the time the eviction process completes, pour concrete down the toilets on the way out, smash the fixtures with sledgehammers, and leave, with the landlord never seeing a dime except the first month's rent and security deposit. Corporate landlords can absorb this because they have tens of thousands of units so a bad tenant is just a bad tenant. Residential landlords can't, because a bad tenant can destroy their single most valuable asset and they have no recourse. There's just no way for a residential landlord to manage these risks, at best they're gambling.

There's also downsides from the good tenant perspective. If you're just renting some guy's house, then he might decide not to renew your lease for any or no reason. Or maybe he dies and his heirs just want to liquidate it, etc. By contrast if you pay your rent, a corporate landlord will basically always renew.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026459)

But let's not think for a second that corporate landlords "can absorb this," they can't. They have shareholders, after all! That's why it's laughable to claim that a corporate landlord "will basically always renew" -- they all play the same game. You move in and they jack up the rent when you go to renew because they know the costs associated with moving mean that you'll likely acquiesce to their scheming.

It's bad all around and there needs to be some sort of policy-level change to address theses issues.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026528)

If you don't like the price of housing the public policy solution is simple, support more housing. This is very difficult in practice, incumbents hate upzoning (taking down a few SFH's to build a large apartment complex) and incumbents also hate new housing construction that will make things more crowded.

The public policy solution might be difficult but the private solution isn't, just don't be poor and then buy yourself a house or condo HTH.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45026589)

In other words, the profession of buying up property to rent to proles should disappear. It's a societal blight and must be eradicated.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45035092)

And LJL @ saying Boomers should be discouraged from blowing your inheritance. It's not your inheritance dipshit, if your parents want to blow it on real estate, wine, or cocaine that is none of your goddamn business. Even if you're right about your vague real estate plan, then you're wrong for this reason, you're thinking like an entitled child.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45035203)

basically, draw the line because this type of suggestion is really hard to understand without knowing exactly what the word "corporate" means here.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45028421)

I aspire to multiple properties.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45028429)

I would guess that the Fed's trillions of MBS purchases since 2010 have something to do with it.

2. Is this an organic market phenomenon, an unforeseen consequence of Fed interventionism, or part of an "eat the bugs" ESG / climate agenda to permanently alter Western living standards and reduce us to serfdom?

---

The correct solution requires a full contextual understanding of the problem.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45029602)

the only people renting should be the genuinely lower classes, just like the only people working service and entry-level jobs should be the genuinely lower classes and kids. the entire model of america is built and dependent on home ownership. we are not europe. if regular people cannot own homes, this country cannot ever be a healthy place

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45030133)

lol

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45035086)

NOTE: i am not a deadbeat, always pay my rent on time, take reasonable care of the premises and don't engage in disruptive behavior. if you're a deadbeat, ymmv

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45035142)

In FL, it's the corporate landlords that have been the absolute worst, penny-punching, lazy, and incompetent. One time, at another property, maintenance came in unannounced. I heard someone in the living room (I was in the office) and since my gf was at work, I chambered a round and walked out of my office. The guy was incredibly apologetic & we actually got along great after that.

But, I'm also a great tenant and do my best to leave the place in just as good of condition as it was when I moved in. I spackle & sand holes I put in the walls, steam clean the carpets, and detail the appliances.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45035196)

I'm not a libertarian absolutist. I'm fine with governments regulating externalities and providing public goods. I'm not fine with the government picking winners and losers in a competitive market. In particular, I'm not fine with favoring failed shitlawyers over corporate landlords who are trying to address a shortage of rental properties. If you want to own a home, get a fucking job and start saving for a down payment rather than wasting money on steak dinners.

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45040348)

US Liberal Democracy lets corporations buy 1/3 of all homes

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45040245)

"By contrast, individual owners of residential property tend to have more skin in the game and tend to take more of an interest in their property. It applies to renters, as well: People who rent from individuals tend to be better tenants and tend to take better care of the property."

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45040774)

I still have not told anyone at work that I own a coop in MFH and that I even have a wife (let alone my mistress too). I will be UMC for the rest of my life, if I am lucky, and there are people who HATE me for it.

Libs, in any stripe or form, literally want to watch you bleed if you have a modicum of success

(http://www.autoadmit.com/thread.php?thread_id=5174904&forum_id=2#45041304)