On 4 Nov 2012
HOAs Hate Renters,
Regarding the original link from "Renter Nation":
SIOUX FALLS, SD - What do Homeowners Associations have against renters? That is the question being asked by renting lifestyle advocate Bill Deegan, the CEO of Renter Nation, the country’s only nationwide group “by, for and about residential renters.”
FLUSH A CITY WITH CASH FROM OIL AND GAS, AND SPOILED BRATS TEND TO PROLIFERATE IN IT.
Citing a troubling trend taking place in the United States by HOAs and local governments to limit the number of renters in single-family home developments, Mr. Deegan called these restrictions “misguided, discriminatory and based on societal and cultural stereotypes.”
THIS ISN'T ABOUT CONDOS AT ALL. WHAT SITUATION IS HE TALKING ABOUT?
As recently reported by USA Today, HOAs and many municipalities across the country are basing these restrictions on the false premise that renters “bring down property values.” As Mr. Deegan asserts and as supported by respected university studies including those conducted by the University of Pennsylvania’s Wharton School, there is no empirical evidence to suggest that the presence of renters in a community cause property values to decline.
In fact, according to Mr. Deegan’s group, restricting the number of renters in a community is just another example of discrimination directed toward a minority group. The number of homeowners outnumbers renters by two to one. “To single out more than 100 million hardworking Americans because we rent flies in the face of true American values of equality. Can you imagine communities restricting other minority groups in this day and age? We can’t either and that’s why we continue to fight for the respect and dignity due all who rent their homes,” Mr. Deegan added.
"RENTERS" ISN'T A PROTECTED GROUP. IS HE BITCHING ABOUT THE 55 AND UP COMMUNITIES IN SUN CITY AND SUCH? THEY'RE NOT DOING WELL.
OR IS HE TALKING ABOUT ANTIOCH?
In commenting further on the University of Pennsylvania study, Mr. Deegan noted that the Wharton analysis concluded that “homeowners are no happier, healthier or engaged in their community than renters.”
PROBABLY NOT, ESPECIALLY IF THEY BOUGHT THEIR HOUSE 2005-2008. THAT APPEARS TO HAVE BEEN AN EQUAL OPPORTUNITY SCREW-OVER.
“Renter Nation will continue to stand in the forefront of the fight against cultural and societal bias directed toward renters, the renting lifestyle and the providers of multifamily housing,” Mr. Deegan concluded.
MULTIFAMILY HOUSING =! SFR.
Renter Nation is an operating unit of Sioux Falls, South Dakota based Media Demographics, Inc. Media Demographics is a leading provider of innovative marketing solutions to the multifamily housing industry.
I DIDN'T KNOW THERE WAS MULTI-FAMILY HOUSING IN SIOUX FALLS. REALLY?
HE SHOULD COME TO SAN FRANCISCO, BUT, EH, HE COULDN'T AFFORD IT. IS THAT THE NEXT DISCRIMINATORY THING? On 4 Nov 2012
HOAs Hate Renters,
The building can't get financing because....
1) more than 15 percent of the units are delinquent on HOA assessments. As of 2011, FHA is counting REOs;
2) more than half of the complex is being rented out already;
3) When deferred maintenance becomes, say, roof failure, tenants can stop paying rent until the problem is fixed by the HOA.
4) Which won't happen soon at 27 percent in arrears.
I'd bet some of this 27 percent aren't paying their mortgage while enjoying rental income. This will go on until, well, the roof fails.