User Panel
User Panel
User Panel
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Posted: 8/26/2024 10:28:41 PM EDT
[#1]
Not unethical/immoral.
Government caused the artificial shortage. Relax building codes and have only two building zones: heavy industrial and everything else. Eliminate utility and transportation "buy in" fees. Stop the poor management of interest rates. 100+ years of government money meddling has become crap. |
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OH, USA
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Posted: 8/26/2024 10:30:37 PM EDT
[Last Edit: MeestaSparkle]
[#2]
I don't think it is ethical but I'm not sure what you do about it. They can just create 1000 LLC's if they had to, how could you ever practically regulate that? ETA for the haters, something being unethical doesn't equate to thinking it should be illegal. The Law |= to morality, and never has. Sometimes it is, sometimes it isn't.
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CA, USA
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Posted: 8/26/2024 10:32:06 PM EDT
[#3]
Quote HistoryOriginally Posted By ScopeScar: Not unethical/immoral. Government caused the artificial shortage. Relax building codes and have only two building zones: heavy industrial and everything else. Eliminate utility and transportation "buy in" fees. Stop the poor management of interest rates. 100+ years of government money meddling has become crap. |
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Posted: 8/26/2024 10:34:26 PM EDT
[#4]
Quote HistoryOriginally Posted By Lou_Daks: Errbody dies, my friend. The key is what you do while you're alive is what matters. Work the problem. Wealth is available to those who are willing to work and sacrifice for it. ETA: Most young people are so glued to their phones that they don't see the riches all around them. How is it that poor-ass people come here from other countries and 1 generation later they are fabulously rich, while younger American borns stay poor for generation after generation? But hey, that Tik Tok video was so cooool! Lemme watch another one. Idjits. QFT |
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Posted: 8/26/2024 10:38:05 PM EDT
[#5]
Quote HistoryOriginally Posted By Riply21: I could turn a higher profit if I used slave Labour we wouldn't want to get started on that slippery slope I do believe slavery is illegal. A corp owning a bunch of rentals is not. I really do understand what you are saying though. But I don’t think it’s realistic or intelligent to set limits on what can be purchased. Also there are still many cheap places for starter homes. Owning a home is still incredibly attainable in the US |
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AZ, USA
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Posted: 8/26/2024 10:38:40 PM EDT
[Last Edit: Nicodemus7]
[#6]
Quote HistoryOriginally Posted By BillofRights: How are they “not concerned with purchase price”? Quote HistoryOriginally Posted By BillofRights: Originally Posted By Nicodemus7: Originally Posted By BillofRights: Originally Posted By BMGisbetter: Discuss I think it's bad for society and bad for anyone but a hedge firm. If they wanna invest buy as many stocks and bonds as they like because you can't live in a stock portfolio. Interesting. You are quite literarily promoting communist ideology. If an investor buys new houses as rental properties, that stimulates the building of more houses. More houses on the market, means prices go down. Supply and Demand. Facts, not feelings. The huge surge in pricing is due to 1. Very low interest rates. They should have Never been that low. 2. Inflation (Dollar devaluation). 3. Rules and regulations which limit land development and make Everything more expensive. 5. Global investment firms that aren't concerned with purchase price for a multi generation rental property. Resulting in driving up both the real estate and rental markets. Leaving out facts is feelings. How are they “not concerned with purchase price”? As more properties are acquired in a given market prices are continually driven up. So the houses you over payed for a year ago are worth more than that purchase price in the future. As they are rented the rent market goes up as well due to controllong a significant portion of the markett. At first they are influencing the market until they are controlling the market. Generating revenue on an asset that is simultaneously increasing in value. An asset that everyone needs and that individual ownership is heavily tied to net worth and retirement. |
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Posted: 8/26/2024 10:44:29 PM EDT
[#7]
Quote HistoryOriginally Posted By OregonShooter: I would say that's a pretty good indicator that the market places a very low value on that location. You can build a wooden box to live in anywhere. It's the location that matters. I agree with you 100% the location is not great. But are you saying the American dream being crushed by greedy corporations is that every family should own a house in Palm Beach or The Hamptons? |
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Posted: 8/26/2024 10:44:58 PM EDT
[#8]
Quote HistoryOriginally Posted By USMCknightraider: I do believe slavery is illegal. A corp owning a bunch of rentals is not. I really do understand what you are saying though. But I don't think it's realistic or intelligent to set limits on what can be purchased. Also there are still many cheap places for starter homes. Owning a home is still incredibly attainable in the US |
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FL, USA
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Posted: 8/26/2024 10:45:09 PM EDT
[#9]
Lol.... yes they bought.. but now are selling in some areas to crash the market. It's a win win.
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Posted: 8/26/2024 10:46:52 PM EDT
[#10]
Quote HistoryOriginally Posted By Nicodemus7: As more properties are acquired in a given market prices are continually driven up. So the houses you over payed for a year ago are worth more than that purchase price in the future. As they are rented the rent market goes up as well due to controllong a significant portion of the markett. At first they are influencing the market until they are controlling the market. Generating revenue on an asset that is simultaneously increasing in value. An asset that everyone needs and that individual ownership is heavily tied to net worth and retirement. In 2011 I bought a house from a bankrupt corporation. They took a risk building houses and lost. |
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TX, USA
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Posted: 8/26/2024 10:53:00 PM EDT
[#11]
Quote HistoryOriginally Posted By perfectsilence: So true I sold 8 houses to Chinese nationals, some locals put in bids on all of them but they couldn’t compete. The homes are all sitting empty now Got my money so zfg /s And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. |
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VA, USA
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Posted: 8/26/2024 10:56:26 PM EDT
[#12]
Quote HistoryOriginally Posted By TontoGoldstein: The market will respond to shortages. Oh it did? |
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USA
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Posted: 8/26/2024 10:56:32 PM EDT
[#13]
Quote HistoryOriginally Posted By BooJangles: And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. Quote HistoryOriginally Posted By BooJangles: Originally Posted By perfectsilence: So true I sold 8 houses to Chinese nationals, some locals put in bids on all of them but they couldn’t compete. The homes are all sitting empty now Got my money so zfg /s And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. Housing supply isn’t finite. I know we hear “they aren’t making more land”, and to some extent that’s true. But there is plenty of land to build on. But house prices have to be up at a certain level for it to make economic sense to build. Just as oil prices have to be at a certain level for it to make economic sense to drill. In a paradoxical way, the invisible hand makes it so that by allowing house prices to be bid up, you provide jobs for builders. Who then hire people, who then can afford better lives. None of this stuff happens in a vacuum. |
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Posted: 8/26/2024 10:57:52 PM EDT
[#14]
It is immoral and against everything I believe in as a traditional American. I’d live under a bridge before renting from them.
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TX, USA
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Posted: 8/26/2024 10:59:46 PM EDT
[#15]
Quote HistoryOriginally Posted By BooJangles: And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. His children will inherit the money from the sales. I don't think he has an ethical responsibility to sell his stuff to someone for below market value because they both came out of American vaginas. |
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Posted: 8/26/2024 11:01:28 PM EDT
[#16]
Quote HistoryOriginally Posted By TontoGoldstein: The market will respond to shortages. And when the same companies own the builders? |
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TX, USA
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Posted: 8/26/2024 11:04:31 PM EDT
[#17]
Quote HistoryOriginally Posted By wesr228: And when the same companies own the builders? Labor is subject to the law of supply and demand, too. High prices for homebuilding labor = high incentive for more home builders. |
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CA, USA
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Posted: 8/26/2024 11:04:57 PM EDT
[#18]
Quote HistoryOriginally Posted By 1Andy2: His children will inherit the money from the sales. I don't think he has an ethical responsibility to sell his stuff to someone for below market value because they both came out of American vaginas. |
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CA, USA
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Posted: 8/26/2024 11:07:11 PM EDT
[#19]
Quote HistoryOriginally Posted By 1Andy2: Labor is subject to the law of supply and demand, too. High prices for homebuilding labor = high incentive for more home builders. |
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TN, USA
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Posted: 8/26/2024 11:07:19 PM EDT
[#20]
Quote HistoryOriginally Posted By Riply21: You mean the movement that died because corps started pushing identity politics to the main stream resulting in today being the most fractured America has been outside the civil war Quote HistoryOriginally Posted By Riply21: Originally Posted By 1Andy2: Damn straight. Occupy wallstreet! The neoliberals couldn’t have people of different creeds and colors coming together to realize that they were all being fucked by the same people, that’s where identity politics comes in. Also why corporations are its biggest proponents as you say. |
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TX, USA
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Posted: 8/26/2024 11:07:30 PM EDT
[#21]
Quote HistoryOriginally Posted By Riply21: Gee I wonder why so many jobs went to china. Well at least china hasn't used all that money to build a massive military and threaten America Government imposed barriers to entry and inefficiencies certainly didn't help. Especially those involving unions. I'm just glad I got to see the UAW slit it's own throat. 
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KY, USA
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Posted: 8/26/2024 11:07:34 PM EDT
[#22]
Hedge funds and foreign entities vowing to destroy the west probably shouldn’t be owning hundreds of thousands of homes and millions of acres of land in the US.
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CA, USA
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Posted: 8/26/2024 11:09:27 PM EDT
[#23]
Quote HistoryOriginally Posted By MannyRibera: Hedge funds and foreign entities vowing to destroy the west probably shouldn't be owning hundreds of thousands of homes and millions of acres of land in the US. |
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TX, USA
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Posted: 8/26/2024 11:11:16 PM EDT
[#24]
Quote HistoryOriginally Posted By Riply21: And what happens when that new builder is denied permitting? I mean corporations would never consider bribing public officials that's unthinkable but what if it did happen? So you don't trust the government because of government barriers to entry but you want the government to fix it by stacking more regulation atop old? |
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CA, USA
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Posted: 8/26/2024 11:13:31 PM EDT
[#25]
Guys we need to trust that these people that call using slave labor "Artisanal mining" will surely do the right thing and not undermine our nation for profit!
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Posted: 8/26/2024 11:13:50 PM EDT
[#26]
Quote HistoryOriginally Posted By BooJangles: And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. Quote HistoryOriginally Posted By BooJangles: Originally Posted By perfectsilence: So true I sold 8 houses to Chinese nationals, some locals put in bids on all of them but they couldn’t compete. The homes are all sitting empty now Got my money so zfg /s And this proves my point. American greed. Your got yours, fuck everyone else. Pretty sad that Americans are winning to sell their children and fellow country men out just to make an extra buck. When I sold my house I said I'd only sell to a family and not to a business or investor. /s means “sarcasm,” mang 
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Posted: 8/26/2024 11:16:02 PM EDT
[#27]
Should be a law preventing it
Along with preventing foreign entities from buying American Lands and Businesses! |
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TN, USA
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Posted: 8/26/2024 11:18:29 PM EDT
[#28]
Quote HistoryOriginally Posted By 1Andy2: So you don't trust the government because of government barriers to entry but you want the government to fix it by stacking more regulation atop old? Quote HistoryOriginally Posted By 1Andy2: Originally Posted By Riply21: And what happens when that new builder is denied permitting? I mean corporations would never consider bribing public officials that's unthinkable but what if it did happen? So you don't trust the government because of government barriers to entry but you want the government to fix it by stacking more regulation atop old? He wants the government to actually function. |
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Posted: 8/26/2024 11:18:33 PM EDT
[#29]
Quote HistoryOriginally Posted By TheAmaazingCarl: Except it's NOT a free market. The money being used is in part or in whole stolen from the American people via the fed. If the banker in monopoly is stealing money and using it to buy homes to rent to you, or loaning you the money they stole at interest.... that IS NOT a free market. Exactly. I don’t know how anyone can think its a free market. |
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CA, USA
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Posted: 8/26/2024 11:20:09 PM EDT
[#30]
Quote HistoryOriginally Posted By 1Andy2: So you don't trust the government because of government barriers to entry but you want the government to fix it by stacking more regulation atop old? I want people to stop sucking off corporations because they think if they don't they are a commie. I want people to put the future of the nation and its decedents above min maxing capitalisms I want people to treat both corporations and governments with distrust. |
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TX, USA
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Posted: 8/26/2024 11:25:24 PM EDT
[#31]
Quote HistoryOriginally Posted By Riply21: I want people to stop pretending we have a free market. I want people to stop sucking off corporations because they think if they don't they are a commie. I want people to put the future of the nation and its decedents above min maxing capitalisms I want people to treat both corporations and governments with distrust. I can't think of a better way to guarantee a shit future for our inheritors than handing over yet more power to government to make the economy "ethical." |
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Posted: 8/26/2024 11:26:49 PM EDT
[#32]
LOL @ the terms "free market" and "capitalism" in modern America. The billionaire elites do their damnedest to make sure there's no realistic truth to those words anymore.
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Posted: 8/26/2024 11:27:42 PM EDT
[#33]
Quote HistoryOriginally Posted By Riply21: I want people to stop pretending we have a free market. I want people to stop sucking off corporations because they think if they don't they are a commie. I want people to put the future of the nation and its decedents above min maxing capitalisms I want people to treat both corporations and governments with distrust. I started owned and operated a single member LLC for a couple years. There were no trust issues. I trusted the corporation. |
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USA
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Posted: 8/26/2024 11:28:29 PM EDT
[#34]
Property tax goes up 3% on each additional house till there is no profit left
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Posted: 8/26/2024 11:30:55 PM EDT
[Last Edit: GlutealCleft]
[#35]
People need to stop thinking "muh ehtics" and start thinking "What kind of world do I want to live in?"
If you want single-family housing to be exorbitantly expensive and burdensome on 99% of America for the benefit of a few billionaires, then sure, let them be used as investment tools by big corps and hedge funds. They'll manipulate the housing market the way they manipulate the stock market and retail prices. On the other hand, if you want a world where housing is maybe somewhat affordable, then you need to keep the billionaire's hands off of them. You wouldn't be depriving those poor billionaires from making their money, they still have a zillion other avenues of investment. But for once, maybe put the needs of the regular people above the "needs" of the richest. |
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CA, USA
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Posted: 8/26/2024 11:32:49 PM EDT
[#36]
Quote HistoryOriginally Posted By 1Andy2: I can't think of a better way to guarantee a shit future for our inheritors than handing over yet more power to government to make the economy "ethical." |
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Posted: 8/26/2024 11:33:54 PM EDT
[#37]
There are really cheap home loans from the govt. but the one catch is you have to be an illegal. Citizens must go to the back of the line and pay more.
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CA, USA
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Posted: 8/26/2024 11:34:52 PM EDT
[#38]
Quote HistoryOriginally Posted By Chisum: There are really cheap home loans from the govt. but the one catch is you have to be an illegal. Citizens must go to the back of the line and pay more. |
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Posted: 8/26/2024 11:45:33 PM EDT
[Last Edit: HighDesert6920]
[#39]
Quote HistoryOriginally Posted By SS65: This guy understands what this is all about. Eliminate the freedom and security of home ownership. Turn everyone into perpetual renters. Destroy the middle class. Quote HistoryOriginally Posted By SS65: Originally Posted By switchtanks: " you will own nothing and be happy" - Klaus Schwab Did you really think they were kidding? Is it wrong for me now - to sell all and just rent from here on out? I'm mobile. I can go anywhere I want. I don't want to repair stuff, or pull weeds, or shovel rock anymore! Time is too precious!!! |
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KY, USA
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Posted: 8/26/2024 11:46:47 PM EDT
[Last Edit: MannyRibera]
[#40]
Quote HistoryOriginally Posted By OregonShooter: I started owned and operated a single member LLC for a couple years. There were no trust issues. I trusted the corporation. Yep. When he mentioned “corporations”, he definitely meant your single member LLC. Way to see the forest for the trees. |
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Posted: 8/26/2024 11:46:49 PM EDT
[#41]
Quote HistoryOriginally Posted By GlutealCleft: But for once, maybe put the needs of the regular people above the "needs" of the richest. Regular people are lazy communists. |
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Posted: 8/26/2024 11:51:33 PM EDT
[#42]
Quote HistoryOriginally Posted By rb889: This. Multi-billion dollar entities like blackrock have no business buying up single family homes by outbidding actual families, that’s done purely to fuck up and market, bring the section 8 ghettos out into the suburbs, and keep folks from being able to own their home. It’s BS. The purpose of gov’t involvement in economics is purely to keep a level playing field. You don’t let 6’4” 280 pound professional football players run wild against the peewee league. Y’all are happy to gripe about megacorps like walmart and amazon forcing out all the small mom and pop stores, but whenever someone suggests protecting one of the more important markets from the same crony bullshit, you all whine “Durr, yer a commie for not wanting these giant megacorps to own everything and everyone! Free market, bruh!” How the fuck is it a free market when one is propped up by a near-bottomless war chest consisting of our tax dollars, dirty money from crooked politicians, and fuckloads of rich cockfags looking to create a neofeudalist society? Just one of those outfits has more money to throw away than the entire population of a mid-sized state. Blackrock destroyed a couple of small towns around Orlando. There's not an entry level homeowner who hasn't gotten offers in the mail. Not to mention all the potential home owners getting priced out of the market, and the rest of us having our tax assessments double due to "increased value." Thanks to their shenanigans, the assessed value of my mobile shack in the swamp has tripled since 2016. The 2008 crash had a lot to do with runaway real estate prices and poor mortgage loans. Bundle those together into "securities" and watch what happens when those bad loans go tit's up... |
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CA, USA
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Posted: 8/26/2024 11:56:34 PM EDT
[#43]
Next thing you know we will invade several nations on behalf of corporations perhaps fruit companies wouldn't that be something.
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MO, USA
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Posted: 8/27/2024 12:01:27 AM EDT
[#44]
Quote HistoryOriginally Posted By tveddy: Should have to be american owned. That is all. Nothing prevents you from building a house Every hear of building codes and zoning? Try building a small house in many towns these days. In 1950 a person could build a 1000 square foot house. Many towns will not allow something that small. Many building codes unnecessarily increase the cost of construction. Plenty prevents you from building a house. Want a small "starter" house? When it can't be built the only marked is the old houses being bought buy the corporations. |
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CA, USA
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Posted: 8/27/2024 12:06:48 AM EDT
[#45]
Quote HistoryOriginally Posted By GFrancisco: Every hear of building codes and zoning? Try building a small house in many towns these days. In 1950 a person could build a 1000 square foot house. Many towns will not allow something that small. Many building codes unnecessarily increase the cost of construction. Plenty prevents you from building a house. Want a small "starter" house? When it can't be built the only marked is the old houses being bought buy the corporations. |
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MI, USA
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Posted: 8/27/2024 12:24:08 AM EDT
[#46]
Quote HistoryOriginally Posted By Elijah1: Why would you limit the free markets? What "free market"? Housing is massively regulated to limit supply. |
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Posted: 8/27/2024 12:35:41 AM EDT
[#47]
Quote HistoryOriginally Posted By Lou_Daks: So, bubba, where would you draw the line? 5 rentals? 10? 20? 100? Quote HistoryOriginally Posted By Lou_Daks: Originally Posted By staringback05: Sorry bud but you're no Blackrock...big difference So, bubba, where would you draw the line? 5 rentals? 10? 20? 100? Just to give some scope, as a quick run through the thread didn't show any numbers. 1,000? 10,000? 50,000? 75,000? This is roughly what Blackstone owns outright. 100,000? 400,000? This is approximately 1% of the US single-family market. Blackstone might control a number close to this, considering all their subsidiaries. So 100 Blackstones could theoretically control the entire market. Kind of off topic, but has anybody seen those trillions missing out of all the government accounts? It's gotta be lieing about somewhere. |
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Posted: 8/27/2024 1:20:28 AM EDT
[#48]
Companies like this are borrowing at rates far lower than your average consumer via the fed. You have no access to the federal funds discount window, there is no way for you to 'compete'.
It's not a free market to begin with. |
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Posted: 8/27/2024 1:21:48 AM EDT
[#49]
Originally Posted By BMGisbetter: Discuss I think it's bad for society and bad for anyone but a hedge firm. If they wanna invest buy as many stocks and bonds as they like because you can't live in a stock portfolio. Another problem caused by government intervention that will only be fixed when the government stops interfering. |
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Posted: 8/27/2024 1:25:41 AM EDT
[#50]
I don't know why it wouldn't be. If they have money and can afford to buy the house is why shouldn't they be able to buy them? Seems like an awful lot of people like to say it's unethical for someone else to make a dollar, but they make money off someone else somehow. Even if it's their employer that makes their money off others, you're either selling something or charging someone else for labor whether it's you or your employer doing it through you.
Yet too many times everybody's quick to complain about someone else doing it. How many people always whine it's wrong for someone else make a profit selling ammunition when there's a panic? Yet they make a living off making profit off somebody else. Oh that's different. What's immoral is the government restricting new development artificially driving up the price, or letting China a foreign adversary buy it up which is a security risk. You can complain and not like what someone's doing without thinking there ought to be a law against it or considering it unethical. |
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