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Posted: 8/26/2024 7:28:21 PM EDT
[#1]
Quote HistoryOriginally Posted By Kilroytheknifesnob: Because when the housing market blew up in 2008, the government protected the wealthy from losses. So if capitalism doesn’t apply then, why should it now? I owned rentals at that time. My equity plunged. The govt. didn't protect me from sh*t, and I didn't ask to be protected. |
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USA
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Posted: 8/26/2024 7:28:27 PM EDT
[#2]
Quote HistoryOriginally Posted By Lou_Daks: You're avoiding the question. How does an owner of an apartment complex occupy all 50 units? Apartments is another category of housing. Limitations should exist on this too unless the goal is to leave a pathway for the extremely wealthy to pool their wealth and resources together and own all housing and the citizens own nothing, eat the bugs, etc.. |
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Posted: 8/26/2024 7:29:14 PM EDT
[#3]
Quote HistoryOriginally Posted By Isenhelm: The question was about starter homes and so was my response. Apartments is another category of housing. Limitations should exist on this too unless the goal is to leave a pathway for the extremely wealthy to pool their wealth and resources together and own all housing and the citizens own nothing, eat the bugs, etc.. You sound like a commie. |
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VA, USA
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Posted: 8/26/2024 7:33:45 PM EDT
[#4]
Quote HistoryOriginally Posted By JaredGrey: Any corporation that owns more than 5 single family homes and isn’t headquartered in the same city as those homes should be taxed so heavily that their taxes construct an equivalent number of new single family homes per year. 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. |
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CT, USA
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Posted: 8/26/2024 7:34:00 PM EDT
[#5]
A lot of times when they buy them in nice areas they will tear them down and rebuild there .
There is not a big market for older starter homes . They want the location not the older smaller homes . |
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Posted: 8/26/2024 7:34:05 PM EDT
[#6]
It's not wrong for them. But there should be some regulation of it IMHO.
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SC, USA
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Posted: 8/26/2024 7:35:30 PM EDT
[#7]
As much as it pains me to say it, SC doesn't have this problem because they give homeowners such a big property tax credit that landlording is a terrible business.
The Fed makes the whole system unethical. Every step of the way since its creation it's gotten more so, and everyone swallows it because the people who are smart enough to recognize it are smart enough to profit from it. Before Covid, it was the financial crisis, TARP, QE, deficits. The game always involved getting between the money spigot and the people. |
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Posted: 8/26/2024 7:35:53 PM EDT
[#8]
Is it ethically wrong to profit?
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AZ, USA
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Posted: 8/26/2024 7:36:48 PM EDT
[#9]
Quote HistoryOriginally Posted By BillofRights: 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. Quote HistoryOriginally 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. |
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USA
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Posted: 8/26/2024 7:37:45 PM EDT
[#10]
Quote HistoryOriginally Posted By Lou_Daks: You sound like a commie. Corporate entities, global land lords should own the property and the citizens should be renter, landless peasants in their home nations? This is freedom? |
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Posted: 8/26/2024 7:39:27 PM EDT
[#11]
Quote HistoryOriginally Posted By Nicodemus7: 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. Quote HistoryOriginally 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”? |
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Posted: 8/26/2024 7:39:36 PM EDT
[#12]
Yeah I think it's wrong
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SGP
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Posted: 8/26/2024 7:39:59 PM EDT
[#13]
Ethically, yeah it's wrong. People seem to be confusing economic systems with morality in this thread. Even if you think it should be legal, it's still the kind of shyster shit that would punch your ticket to hell.
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Posted: 8/26/2024 7:41:01 PM EDT
[#14]
Quote HistoryOriginally Posted By Kilroytheknifesnob: Because when the housing market blew up in 2008, the government protected the wealthy from losses. So if capitalism doesn’t apply then, why should it now? Quote HistoryOriginally Posted By Kilroytheknifesnob: Originally Posted By Paul: Why would government want to restrict who can buy a home in a free country except to create housing crisis and higher costs?  Because when the housing market blew up in 2008, the government protected the wealthy from losses. So if capitalism doesn’t apply then, why should it now? Yep. Pro capitalism when others are paying. Bail me out Gov't when they are losing. The market isn't free. |
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USA
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Posted: 8/26/2024 7:42:05 PM EDT
[#15]
Quote HistoryOriginally Posted By Isenhelm: Oh no, that might mean there could be complexity.. fuck it better just have land barons then. Quote HistoryOriginally Posted By Isenhelm: Originally Posted By Lou_Daks: How does the owner of an apartment bldg. occupy all 50 units? You should never call anyone an idiot. |
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Posted: 8/26/2024 7:42:21 PM EDT
[#16]
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. |
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Posted: 8/26/2024 7:43:08 PM EDT
[#17]
It's a bit scumbagish
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Posted: 8/26/2024 7:44:07 PM EDT
[#18]
L O L; so what if a publicly traded property management company built a subdivision of rental homes. Would you have a problem with that OP?
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Posted: 8/26/2024 7:44:23 PM EDT
[#19]
We don't have a full-on "free market" for the same reasons we live in a constitutional republic instead of a straight democracy: the population would find a way to fuck each other over.
The problem is full-time politicians creating bureaucracies that over-regulate everything. The founders didn't envision full-time politicking. |
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Posted: 8/26/2024 7:46:09 PM EDT
[#20]
Quote HistoryOriginally Posted By Isenhelm: The question was about starter homes and so was my response. Apartments is another category of housing. Limitations should exist on this too unless the goal is to leave a pathway for the extremely wealthy to pool their wealth and resources together and own all housing and the citizens own nothing, eat the bugs, etc.. Quote HistoryOriginally Posted By Isenhelm: Originally Posted By Lou_Daks: You're avoiding the question. How does an owner of an apartment complex occupy all 50 units? Apartments is another category of housing. Limitations should exist on this too unless the goal is to leave a pathway for the extremely wealthy to pool their wealth and resources together and own all housing and the citizens own nothing, eat the bugs, etc.. No, the citizens own stock in those companies that own those properties. |
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Posted: 8/26/2024 7:46:19 PM EDT
[#21]
Quote HistoryOriginally Posted By switchtanks: " you will own nothing and be happy" - Klaus Schwab Did you really think they were kidding? |
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GA, USA
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Posted: 8/26/2024 7:47:18 PM EDT
[#22]
How is them buying properties to rent any different than an individual buying properties for rentals? How many rental properties am I allowed to own before you guys would tell me I can't buy anymore? Sounds like some butthurt to me.
I say if you can't beat 'em, join 'em. Pile your money into REITs. Own a piece of the mall, the target shopping center, the ghetto apartments up the road, and all the houses they're overpaying for around the neighborhood. My only beef with these investment companies is they keep buying houses and then immediately paint them white. WTF is that. Even the brick houses, they hire a mexican who comes out blasting mariachi music and whitewashes the whole house. It looks dumb as fuck. |
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CA, USA
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Posted: 8/26/2024 7:47:33 PM EDT
[#23]
How many landlords lost their property when the government told the tenants they didn't have to pay rent? How many of those foreclosed properties were then bought up by the big money players? They used covid in more ways than one.
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Posted: 8/26/2024 7:48:25 PM EDT
[#24]
It’s an interesting discussion. I concede that Something is definitely wrong with the current situation regarding pricing / home ownership. If I didn’t already own a home and / or have a good job, I’d be storming the Bastille by now. I apologize for calling OP a Commie.
 G’night yall.
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Posted: 8/26/2024 7:48:31 PM EDT
[#25]
So basically some company decides to buy all the available housing/apartments in an area and then rent them to the .gov for above market rates for undocumented migrants to occupy, paid for by taxpayers, and then kickback a % into one party's campaign contributions to further things along?
Is that where we're going? |
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Posted: 8/26/2024 7:49:27 PM EDT
[#26]
Quote HistoryOriginally Posted By Colt1860: The market will just create more land. Lol. Underrated response. Nicely done. |
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Posted: 8/26/2024 7:50:43 PM EDT
[#27]
Yes, it's sleazy, because they can afford to buy it up and hold it, and people need places to live no matter what.
Not sure what the fix would be, but it is shitty. |
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Posted: 8/26/2024 7:52:52 PM EDT
[#28]
Laissez faire capitalism leads to monopolies. It just does.
I don’t know what the answer is. Maybe nobody does. How do you trust fallible people to govern others..or themselves? |
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Posted: 8/26/2024 7:54:22 PM EDT
[#29]
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. |
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Posted: 8/26/2024 7:56:34 PM EDT
[Last Edit: MouseBoy]
[#30]
1) Kinda tax the fuck out of home ownership under a common entity or commonly controlled entities by taxing the FUCK on ownership over 1.
2) Now really tax the FUCK on ownership over 2. 3) Now ungodly tax the FUCK on ownership over 3. Limited to SFR, condos and 4 units and less. 4) Make sure ALL VRBO and Airbnb income is taxed Federally, by the State and with a little special love from your local assessor/gov Lower all other taxes by the amounts of the above incremental tax revenue. Housing crisis solved. |
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TX, USA
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Posted: 8/26/2024 7:59:01 PM EDT
[#31]
Quote HistoryOriginally Posted By xerxes2695: Laissez faire capitalism leads to monopolies. It just does. I don’t know what the answer is. Maybe nobody does. How do you trust fallible people to govern others..or themselves? adam smith did. he pointed out that completely free markets would lead to oligopoly ("combinations" was his term) in the absence of two forms of natural regulation. the first form is external regulation: the invisible hand of price. the other is internal regulation: the individual, moral decision not to profiteer at the expense of everyone else. yes, you read that right - the father of capitalism said that price gouging would result in the collapse of the whole system. please do not take my word for it - read smith. if both forms of natural regulation are not present, then a market can only survive if it is governed by an authority. here in the US, we have the worst possible form of government except for all the others. it'll be messy, and the idealogues will never be satisfied, but that's the cost of doing business. |
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CA, USA
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Posted: 8/26/2024 8:02:54 PM EDT
[#32]
Quote HistoryOriginally Posted By MouseBoy: 1) Kinda tax the fuck out of home ownership under a common entity or commonly controlled entities by taxing the FUCK on ownership over 1. 2) Now really tax the FUCK on ownership over 2. 3) Now ungodly tax the FUCK on ownership over 3. Limited to SFR, condos and 4 units and less. 4) Make sure ALL VRBO and Airbnb income is taxed Federally, by the State and with a little special love from your local assessor/gov Housing crisis solved. Who gets all that tax money, the poors? Lol |
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USA
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Posted: 8/26/2024 8:03:59 PM EDT
[#33]
Quote HistoryOriginally Posted By Homernomer: You should never call anyone an idiot. Quote HistoryOriginally Posted By Homernomer: Originally Posted By Isenhelm: Originally Posted By Lou_Daks: How does the owner of an apartment bldg. occupy all 50 units? You should never call anyone an idiot. The only mention of idiot was "useful idiot" in a post that was not quoting or directed at anyone here. A carry on to an assertion of one evil being equal to others and it similarly having "useful idiots" which seems reasonable and probable. |
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Posted: 8/26/2024 8:04:12 PM EDT
[#34]
I agree with OP. The people doing this should be shamed publicly.
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Posted: 8/26/2024 8:05:27 PM EDT
[Last Edit: mmorohpmoly]
[#35]
Don't be poor? Then you can buy many houses and rent them? Build wealth off people who can't/don't want to buy? Have a nice ROI?
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Posted: 8/26/2024 8:06:47 PM EDT
[#36]
Quote HistoryOriginally Posted By catrepair: Who gets all that tax money, the poors? Lol No, lower all other taxes 
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Posted: 8/26/2024 8:07:12 PM EDT
[#37]
Is it bad for people to:
1 - have too much money? 2 - have a house that is too big? 3 - have a farm/ranch that is too big? 4 - have a big boat? Where does this line of thinking stop??? |
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USA
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Posted: 8/26/2024 8:07:58 PM EDT
[#38]
Quote HistoryOriginally Posted By Elijah1: Why would you limit the free markets? The capitalist will sell you the rope you hang him with. |
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Posted: 8/26/2024 8:08:24 PM EDT
[#39]
Strange how many Communist are on AR15.com
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Posted: 8/26/2024 8:08:52 PM EDT
[#40]
Quote HistoryOriginally Posted By sirensong: adam smith did. he pointed out that completely free markets would lead to oligopoly ("combinations" was his term) in the absence of two forms of natural regulation. the first form is external regulation: the invisible hand of price. the other is internal regulation: the individual, moral decision not to profiteer at the expense of everyone else. yes, you read that right - the father of capitalism said that price gouging would result in the collapse of the whole system. please do not take my word for it - read smith. if both forms of natural regulation are not present, then a market can only survive if it is governed by an authority. here in the US, we have the worst possible form of government except for all the others. it'll be messy, and the idealogues will never be satisfied, but that's the cost of doing business. Quote HistoryOriginally Posted By sirensong: Originally Posted By xerxes2695: Laissez faire capitalism leads to monopolies. It just does. I don’t know what the answer is. Maybe nobody does. How do you trust fallible people to govern others..or themselves? adam smith did. he pointed out that completely free markets would lead to oligopoly ("combinations" was his term) in the absence of two forms of natural regulation. the first form is external regulation: the invisible hand of price. the other is internal regulation: the individual, moral decision not to profiteer at the expense of everyone else. yes, you read that right - the father of capitalism said that price gouging would result in the collapse of the whole system. please do not take my word for it - read smith. if both forms of natural regulation are not present, then a market can only survive if it is governed by an authority. here in the US, we have the worst possible form of government except for all the others. it'll be messy, and the idealogues will never be satisfied, but that's the cost of doing business. If we’re relying on the individual moral decision to hold our republic together, I’m afraid this isn’t going to work. |
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Posted: 8/26/2024 8:09:21 PM EDT
[#41]
It is not inherently unethical. One could theoretically own any number of properties and manage them ethically. But as that scale increases, so does the likelihood that the owner will manage the properties unethically.
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Posted: 8/26/2024 8:09:48 PM EDT
[#42]
Quote HistoryOriginally Posted By feudist: "Ethical"? The Tech sector supports Chinese slavery. The Oil sector funds White Slavery in Arabia. The Textile sector supports Child Slavery. The Entertainment Sector is a Pedophile marketplace. The only correct question is "what is the profitability?" |
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Posted: 8/26/2024 8:10:06 PM EDT
[#43]
Fortunately, Congress has the power to regulate interstate commerce, so if they want to ban a national corporation from owning single-family homes, they can do so, and the pro-constitution crowd will accept it.
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SGP
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Posted: 8/26/2024 8:10:59 PM EDT
[#44]
Quote HistoryOriginally Posted By Mojo_Jojo: Is it bad for people to: 1 - have too much money? 2 - have a house that is too big? 3 - have a farm/ranch that is too big? 4 - have a big boat? Where does this line of thinking stop??? |
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Posted: 8/26/2024 8:11:18 PM EDT
[#45]
Quote HistoryOriginally Posted By xerxes2695: If we’re relying on the individual moral decision to hold our republic together, I’m afraid this isn’t going to work. "Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other." |
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Posted: 8/26/2024 8:11:31 PM EDT
[#46]
Quote HistoryOriginally Posted By xerxes2695: If we're relying on the individual moral decision to hold our republic together, I'm afraid this isn't going to work. John Adams said, "Our constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other." Morality and virtue are the foundation of our republic and necessary for a society to be free. |
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MI, USA
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Posted: 8/26/2024 8:12:41 PM EDT
[#47]
Quote HistoryOriginally Posted By MikeJGA: Strange how many Communist are on AR15.com Government owns all property, and citizens must rent from them is bad. Company owns all property, and citizens must rent from them is good? |
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TX, USA
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Posted: 8/26/2024 8:13:33 PM EDT
[#48]
Quote HistoryOriginally Posted By thesquidliest: We don't have a full-on "free market" for the same reasons we live in a constitutional republic instead of a straight democracy: the population would find a way to fuck each other over. The problem is full-time politicians creating bureaucracies that over-regulate everything. The founders didn't envision full-time politicking. Clearly the solution is more regulations. |
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Posted: 8/26/2024 8:13:35 PM EDT
[#49]
Quote HistoryOriginally Posted By BillofRights: Interesting. 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. It most certainly does NOT stimulate the building of more houses. See zoning laws, construction costs, etc. You don't have all the facts. See California for an extreme example of how housing prices and demand do NOTHING to stimulate increases in inventory, because it is just not a free market. |
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Posted: 8/26/2024 8:14:16 PM EDT
[Last Edit: gotigers]
[#50]
not 1000
but when hedge funds buy millions of homes and conspire to control the market to charge higher rent, YES! there is capitalism, free trade, supply and demand, but this is none of those. |
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