patrick.net

It's only going to get worse, imo. Wealth creation is now dependent on "rent" extraction in many various ways and tech that puts large numbers of people out of work. Want to help? I mean REALLY help? Do not give your money to ANY corporation or rich person in any way.

WineHorror1 says

It's only going to get worse, imo. Wealth creation is now dependent on "rent" extraction in many various ways and tech that puts large numbers of people out of work. Want to help? I mean REALLY help? Do not give your money to ANY corporation or rich person in any way.

Every industry starts to rent seek after they have achieves a system that makes profit just like ExxonMobil, Tesla, Google, McDonald's and any other company. Currently, I would say that the government is propping up the real estate industry with loans and tax breaks to a detriment of innovation in other industries.

1337irr says

Not everybody is lucking enough to own a single family home in the Bay Area.

That's almost the crux of my whole point.

B.A.C.A.H. says

One way to do this without imposing new taxes would be to give homeowner-in-residence exemptions.

This. Just stop mortgage tax deductions for second homes. Start with that.

Also, the HOA of my new house disallows renting for the first two years after purchase.

porkchopexpress says

Also, the HOA of my new house disallows renting for the first two years after purchase.

So does the stipulations in an FHA loan. But I knew several people who purchased a second home, using an FHA loan, for the sole purpose to rent it out. (at the end of the housing crash, the FHA was allowing second home purchases after two years)

Tenpoundbass says

you own more than two homes, or don't live in your second home, they should have a Homeowner tax on it.

Great State of Texas, supposedly run by vile right-wing hillbilly racists, already has higher tax on second, third, and so on homes. We get 1/3 tax discount on firdt residence aka homestead exemption.

GreaterNYCDude says

I don't want more housing... we have enough people already thank you very much... from traffic to sewage treatment to schools, my area can't support much more population than what we have currently. Almost every parcle that can reasonably been built on has been developed already.

I have no good awnsers. Wages need to go up, but I'm not holding my breath on that one.

This is a result of unfettered illegal immigration and open borders policies. Americans hardly reproduce around the replacement level. If we secured our borders, net new developments wouldn't be necessary

Bd6r says

We get 1/3 tax discount on firdt residence aka homestead exemption.

The reality is, the investors looking to get in the rent seeking business. Will just chalk a fed tax as the cost of doing business. They certainly don't let runaway housing bubble inflation get the way of their purchasing decisions .

Tenpoundbass says

The reality is, the investors looking to get in the rent seeking business. Will just chalk a fed tax as the cost of doing business. They certainly don't let runaway housing bubble inflation get the way of their purchasing decisions .

I suppose buying houses by investors is, in part, due to Bidenflation and cratering stock market. Money has to be parked somewhere where value of purchase cant go to 0.

https://newssudden.com/at-invitation-houses-unpermitted-work-leaves-tenants-with-leaky-plumbing-defective-repairs/

At Invitation Houses, unpermitted work leaves tenants with leaky plumbing, defective repairs