This Could Devastate Your Real Estate Investing Business

by | BiggerPockets.com

What I’m about to say might not make me popular, but it may be the most important thing you’ll ever read about the safety of your real estate holdings.

I want to talk about what can only be described as a nightmare-ish scenario for real estate investors.

There are so many potholes in the road to real estate investing success. In fact, I wrote a book about how to avoid many of them. 

Unfortunately, there was one thing I did not anticipate!

The Set Up

Let’s say, after months (or even years) of planning, hard work, dedication, and penny-pinching, you made it to closing. Your real estate investment is finally all yours.

In the following days, the tension in the air seemed to magically melt away. The clouds broke, the sky turned blue, and it’s a warm, sunny day at the beach.

After all the hard work, your financial hopes and dreams are coming true. You’re confident your investments are going to grow in value, and for the first time in a long while, you can actually relax.

The Promised Land

Now that you’ve reached “real estate nirvana,” it’s time to sit back and reap the profits. Things could not be better.  

But wait…

Just off to the left in your peripheral vision, did you see something menacing? A huge shadow maybe?

You look again with a full stare but see nothing. You relax, thinking it must have been your imagination.

The warm, gentle breeze rustles the palm fronds and your eyes are getting heavy. You’re about to fade off and take a short siesta… when there it is again!

It’s unmistakable this time—definitely a shadow. And it’s huge!

It’s accompanied by a very faint and eerily familiar sounding tune…

The tempo is slow at first but getting faster: duunnn dunnn… duuuunnnn duun… duuunnnnnnnn dun dun dun dun dun dun…

Your palms grow sweaty and the hair on the back of your neck stands up. Suddenly, you’re very afraid!

(OK, obviously I am being overly dramatic and recreating a scene from “Jaws.”)

Nervous businessman peeking over desk

Trouble in Paradise

All kidding aside, there really is trouble brewing in paradise. In a worst case scenario, it may very well spell the end of your real estate investing career!

Millennials and Gen Zers make up 62 percent of the current population. They account for the vast majority of tenants who are served by the rental housing and storage industries. They are a force to be reckoned with, and they are just now coming into their own as a huge voting block.

Their view of capitalism is very different from their parents. For a number of reasons, young Americans are drawn to socialism and big government.  

It’s a topic discussed in great detail in an article by Steve Chapman titled “Why Young Americans Are Drawn to Socialism.”

Additionally, the University of Chicago’s GenForward Survey found that only 26 percent of baby boomers would prefer to live in a socialist country, while 44 percent of the younger crowd would.

This young cohort takes for granted the vast array of benefits capitalism has provided, which include cell phones, cheap airfare, plentiful food sources with unlimited choices, and never-ending entertainment options. They weren’t alive (or can’t remember) a time when those things did not exist, so they’ve come to expect them.

At the same time, millennials and Gen Zers were likely impacted by the brutal recession of ’07 to ’09, living through the pain it caused them and their families. Pain like that is not easily forgotten.

Chapman points out in his piece, “For eight years, as the economy steadily improved, many Republicans denounced President Barack Obama as a socialist out to demolish the free market. Obama left office with a 77 percent approval rating among millennials. If he was a socialist, many of them must have decided, socialism can’t be so bad.”

Also during this time period, the universal healthcare, free college tuition, and unlimited immigration movements were born.

So, guess what’s next from the socialist’s maternity ward?

Related: The Financial Threat More Catastrophic to Property Owners Than Simple Vacancy

Guaranteed Housing for All

While I believe in responsible care of the environment, the Green New Deal introduced by Rep. Alexandria Ocasio-Cortez, D.-N.Y., is not just about environmental issues. It includes every socialist agenda item from the last 20 years rolled into one tidy little package.

The guaranteed housing for all movement couched in the GND is an extensive wish list that includes a provision for the government to provide exactly that and to also end all foreclosures and evictions.  

Impossible, you say? Sixty House Democrats and nine Senate Democrats have signed on.

How does that sit with all you landlords out there?

To this crowd of youngsters (most of whom have limited financial or economic training), capitalism is summed up as being a bunch of evil corporate goons who secure good housing for their cronies while pushing dilapidated slums on the rest.

Rounding up all the greedy real estate owners, confiscating their properties, walking them through the streets, and publicly flogging them is not a scene from some futuristic Orwellian sci-fi flick to them. Nope. It’s just a good start!

The Aforementioned Huge Shadow

If you have not figured it out by now, the huge shadow that was lurking in the deep blue water, the one thing that may ruin your real estate investing career, is socialism! It used to be tucked away in the dark corners of the U.S. political landscape, but it has now taken center stage and is on display for all to see!

I know some of you out there are mumbling to yourselves, ”Come on, doc. Aren’t you being a bit extreme? That will never happen in America!”

Related: The Biggest Threats to Your Real Estate Investment Property and What You Can Do to Stop Them

Front side of typical american porch colonial house with white traditional columns and pillars, beautiful garden in the back and forest

Recent News Stories

To that I say, really? Consider these headlines:

  • “2019 Oregon Passes First in the Nation Rent Control Legislation”
  • “New Jersey Set to Tax Rain!”
  • “Municipalities with Growing Tax Revenue Shortfalls Eye Apartment Owners”
  • “Green New Deal Suggests Air Travel, Gas Powered Cars, and Cows Should All Be Eliminated in Just 10 Short Years”
  • “Amazon HQ2 Cancelled After Push Back From a Number of Citizens Groups Including the Democratic Socialists of America”

Unfortunately, socialism has been championed by a number of high profile Hollywood types. They claim it is the answer to closing the gap between the “haves” and the “have-nots.”  

Unfortunately, most of those pushing this dangerous agenda have never been to a socialist country like Venezuela, where the only “equality” the people experience is equal amounts of misery.

Are government mandated rent freezes, confiscation of privately-held properties, and public housing for all right around the corner?

America is not perfect. It does not have all the answers. Some people are born with a leg up; some have figured out how to work the system.

But the fact is capitalism in America offers opportunities to all and rewards hard work and ingenuity. It still stands as a bright city on a hill.

In my life, I have been fortunate enough to travel to Canada, Russia, Mexico, Puerto Rico, Dominican Republic, Germany, Austria, England, Scotland, and New Zealand. And I can say, compared to all the other options out there, I will take America every time!

Possibility of Socialism in America: Yay or Nay?  

Venezuela and South Africa (socialism’s most recent shining examples) have recently torn up their constitutions and begun confiscating landowner properties—including apartments.

If socialism does hit the U.S. (as it looks like it may), choosing to buy real estate in the most landlord-friendly states may only be a short-term hedge against the inevitable.

So, tighten your seat belt, folks. I think we are in for some turbulence!

What do you think? Should investors be worried? Do you think this movement will gain traction or fizzle out?

I’d love to read your thoughts below.

About Author

Brian Robbins

Dr. Brian is a practicing Chiropractic Physician and a co-founder of Wellings Capital, a commercial real estate syndication company. He just finished his first book titled DONE! The Professional's Guide to Double-Digit Returns, Multi-Generational Wealth, and a Worry-Free Retirement. His real estate experience includes single and small multi-family properties, as well as syndicating larger multifamily property and self storage assets. He currently owns a 32,000 sq ft commercial lease strip center which he is in the process of converting to a climate controlled self-storage facility.

129 Comments

  1. Vitaliy Volpov

    Hey Brian,

    Nice article! As a first-generation immigrant from the former Soviet Union, I can safely say that socialism is one of the most evil concepts humanity has ever devised, masquerading as one of its most benign. I have seen what socialism does to a country and to generations of people who grew up knowing nothing else. This is why my family moved here and why I think capitalism, for all its faults, is worth supporting and defending.

    Having said all that, if the U.S. turns to socialism, it won’t matter whether you’re in the real estate industry or something else. You’re going to lose everything you own anyway. So, unless and until that happens, I say vote against socialism when you can, but continue to invest in real estate and don’t lose sleep over the what ifs of the future that you can’t control.

    Vitaliy

    • Vic O.

      State wide rent Control in Oregon is just the beginning, more will follow and you won’t want to be a landlord anymore. Private property, property rights and individual liberty were the cornerstones of this society. The U.S. has been socialist in many aspects of the economy and government in general from Social security, welfare, education, corporate subsidies etc. We are sadly gaining ground in that direction and I agree 100% with the article. However, and probably 99.99% of the people will vehemently disagree with me but the fact is that voting won’t fix anything because if it did it wouldn’t be allowed. The simple truth is that government IS the root cause of nearly all of societies ills and “elections” and other silly ceremonies are merely window dressings and feel good rituals to make everyone believe that they have some say in the outcome. Yes I’m very worried about this country going full blown socialist and it’s happening now at an alarming rate. The only way to turn it around is for each of us to understand the meaning of self ownership and Reject the Myth of Authority. So stop voting for new masters to rule us as it will never make us free. Govern yourself, read an Austrian economics book, Google Voluntaryism and end Statism before it ends us.

    • Brian Robbins

      @VitaliyVolpov Thanks for the comments. I adopted 7 kids from Russia and have been there. The moment we got outside of Moscow it looked like we had gone back 40 or 50 years in time. Eveything was old and most things were either broken or on the verge.

    • Steven Curtis

      There is a lot of fear mongering about socialism out there but few of those people talk about the rampant cronyism and corruption in our current system that alienates so many people, causing them to seek alternatives. An extremely dishonest, angry and corrupt billionaire businessman president with a cabinet of wealthy donors and lobbyists is the perfect recruitment tool for socialism.

      If we want to sell people on the wonders of capitalism, we need to fix this system so that corporate executives who commit fraud and other white collar crimes actually pay a price and stop people from seeing that there is one system for wealthy elites and one for everyone else. We also need to big money out of our political system so politicians work for the people.

      We can make a very long list of corporations like Facebook, Wells Fargo and Enron whose executives have behaved unethically at best, criminally at worst. But the list of executives who have paid any real price is very short.

      Defeat socialism by fixing capitalism!

      • Susan Harrington

        Steven:

        I agree completely. Thank you for your well articulated rebuttal. We need to move more to the center in this country and make American capitalism work for everyone. If we do this-there will be plenty of opportunities for real estate investors. The extreme actions of this president and some in Congress have made circumstances really bad for many folks.

  2. Nina Grayson

    Socialism advocates may build traction to create a more vocal movement that might realize free housing or guaranteed housing for all by way of subsidies or confiscating property, but it will be minimal, and foreclosures won’t go away, but may be the target for a socialist “do-good-government” ideology. Capitalism is our economy. Moreover, real estate is the backbone of our economy and has been since our continent was settled hundreds of years ago for agricultural development. Investors and the REI industry has changed the RE industry where there are less novice consumers and more savvy investors or would-be investors entering the fore, and so it is highly competitive, as we are in a ebb and flow of unloading and loading from our portfolios. But the Jaws of socialism will not gain traction if real estate values shift to the bottom of the ocean for longer than eighteen years – in fact, that won’t happen (unless another sector causes a 2nd major financial tsunami). The government’s interest in sovereign solvency is too high to let real estate or real estate investors become socialist fish-food.

  3. Jerry Maze

    This country ceases to be the United States at that point! I am a baby boomer and to me to even hold an open mind or consider this treasonous nonsense is unthinkable to me.

    Any body signing up for Socialism wants to be baby sat for life and held down from pursuing their dreams… you talk about “working for the man!”…

  4. Christopher Smith

    Ah Socialism…. (it can be summed up in six very short words):

    You Got
    I Want
    Give Me

    BTW Obama’s Approval rating on leaving office was 57 percent, not 77 percent, (just looked it up because 77 sounded ridiculously high).

    All in all not a bad score, but not a great one either. Additionally, I don’t think you can infer much from it with regard to a preference for or against socialism.

  5. steve smith

    It’s time to put bigger pockets in the closet with Fox News. This article is another if the neo-con repubs bull shit. How dare you use this site to push you limited knowledge of what the country wants for its people, and your points are totally erroneous in facts.
    But you keep preaching this bull. As an investor I to see a cloud and it’s more to do with people like you that want to spread misinformation., because they listen to this crap.
    Well I have said to much and still not enough to dissesyed your alternative facts.
    Goodby bigger pockets if this is the level of articles that we are going to see.

    • Glenn F.

      Although it was just an opinion of what *could happen*, there were many facts listed of changing laws around the country.
      It’s clear you don’t have an open mind that may help you out with your own investing.
      This is what is great about this country, you have the right the watch the Communist News Network and someone else can watch their own choice of network, and we all have the same opportunities.

    • David Mayeranderson

      Agree! Shame on BP for promoting this alarmist bullshit. There is an enormous difference between communism and democratic socialism. Many aspects of our system, very popular ones in fact, are “socialistic” like Social Security and Medicare. Instead of debating the merits of policies, “socialism” has be come the rallying cry to fire up the base.

  6. Nancy Roth

    I object to the author’s use of this website to express his political opinions, and I don’t see how they are of any use or consequence to real estate investors.

    I visit this website for education about how to improve my real estate business and also to pose and answer questions and engage with interesting, witty, and informed colleagues I might otherwise never get to interact with. I don’t care whether anyone who uses Bigger Pockets votes the way I do. It shouldn’t even come up. If someone has a question I can speak to, I’m glad to address it regardless of which party they belong to or what philosophy they espouse.

    So to see a post on Bigger Pockets pushing a political agenda is a genuine shocker. Is this a mistake, guys? It’s the antithesis of what I come here for. I did not sign up to read about someone’s (IMO uninformed) interpretation of AOC or President Obama and their approval ratings and whatnot. If anything I come to this website to get away from that chatter and speculation, so I can focus on how I may best operate in the real world, and how I can help other people who face the same challenges I do.

    I’d be so sorry if I had to quit BP because it is being abused by people preaching their politics. What an unfortunate waste and loss that portends.

    • Rowen Burney

      Hey Nancy, I appreciate your response to Dr.Robbins but I would have to say I disagree with most of what you have written. First of all, I do 100% agree with you that BP is not the place to start political debates however I do not think that this is what Dr. Robbins was trying to do in his article. This website was created to serve investors and teach about investing which is 100% a capitalistic behavior. Socialism is the opposite of capitalism and I don’t think Dr. Robbins is abusing the platform to push some far-flung political agenda. This is a capitalistic website completely devoted to capitalistic affairs so I would argue that Dr. Robbins is not going against the culture of the website but rather fighting for everything the website stands for.

      • Mary E Copas

        Politics and political debates aside, I think it would actually be worthwhile to understand how something like “rent control” can impact a real estate and rental market. Most people are not familiar with rent control or various schemes that act like rent control in a market. What mitigation is there for that? Obviously in New York City there are still landlords and tenants, and obviously most of those landlords are still turning a profit even in a market with some rent control units. It is not far-fetched to imagine at all that some cities, counties, or even states will enact various forms of rent control in the next 5, 10 or 20 years.
        On the other side of the coin, one should also understand how government-sponsored housing also impacts a market area.
        These are good economic questions. I don’t think name-calling necessarily benefits anyone who is basically saying these are things to a landlord or investor should consider.

      • Susan Harrington

        I would like to say that I, like Nany, was also stunned by the tone of the article. I agree with Nancy. Thievarticles should be non-partisan. Also, facts should be correctly stated. Apparently, the Oregon law caps the annual increase at 7% plus inflation adjustments. Over the weekend I was speaking to another real estate investor from Oregon. She gave me a little background about some of the egregious behavior being perpetrated by some multi-family investors in the state. For example- rent increases of 30 percent for unrenovated properties in poor condition were becoming common and these same investors were engaging in unethical practices to evict families with no notice. If true-these are unfare business practices. Extreme behavior sometimes results in regulation. For the record-I’m not generally for rent control regulations but I can understand why the state legislature would take action given the circumstances.

  7. Kevin McGuire

    I find this article to be undeserving of the open, educational, reasoned discussion culture that is the BP community. Whether intentional or not, it suffers from the polarizing positioning that this topic often takes and, as such, will only generate polarized comments.
    Are we being trolled here?
    Let’s try to have a bit of perspective. Wikipedia defines socialism as:
    “Socialism is a range of economic and social systems characterised by social ownership of the means of production and workers’ self-management, as well as the political theories and movements associated with them. Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity. There are many varieties of socialism and there is no single definition encapsulating all of them, with social ownership being the common element shared by its various forms.”
    Notice ownership can be collective and cooperative. Like, say, a Home Owner’s Association. All you folks who have properties that are in HOA’s have been contributing money to and participating in socialist organizations. Ya bunch of pinko commies!
    I’m serious (except for the “pinko commie comment”, obviously). HOA’s are a socialist structure. They solve the problem of communal benefit through collective ownership. It’s absurd to think how you’d manage an apartment building of condos otherwise (“Elevator is out again. Who’s turn is it to fix it?”). Heck, the very software that this site uses, WordPress, is Open Source and by definition and nature, socialist. You’re all participating in a socialist trap!
    The next sentence from wikipedia is very apropos for this discussion:
    “In 21st century America, the term socialism, without clear definition, has become a pejorative used by conservatives to taint liberal and progressive policies, proposals, and public figures.”
    Now, I hate to burst your bubble, but the U.S. is a socialist state. What?! Where do you think your taxes go? Some of it goes to things like maintaining our roads (state owned, collective good), police, fire, … In olden days, people used to pay to have their house protected by the fire department. If you had a fire and they showed up and you didn’t have the emblem on your house showing you paid your fire department dues, they’d let it burn. That’ll teach ya! Of course, then the fire spreads to the neighbor who DID pay the fire department due. Oops. OK maybe it’s better if we just keep them all from burning and collect the dues from everyone via, you guessed it, taxes.
    The reality is that we live in country that exists along a spectrum of socialism and capitalism, both of which have merit and neither extreme of which is desirable nor sustainable. The question then is whether we think we have the right balance. To the degree that we can have that conversation, we may arrive at a mixture that preserves what is best of our capitalist reward system with socialist common good.
    However, this is not the forum for that discussion.

    • Michael Steven Harris

      This was a horrible article I’m a gen x person. I was hit hard by the great recession. Exactly the kind of person is talking about but my opinion is older generation s always think similar things about the younger, go back millena and you will see. Also, there are numerous countries far more socialist than the US in Europe yet investors are still getting rich.

  8. Frank Boet

    Absolutely fantastic article! We are about 2 generations away from full blown socialism in this country. Be really careful when you hear politicians talking about rent control, income inequality, free healthcare, free education, and gun control. Is my post political? Absolutely! Politics affect my finances and my families well being.

  9. Kevin McGuire

    Eventually all politics affect our finances but that does not mean that all political discussion is appropriate for this forum.
    As another person said, a focus on a specific issue directly related to the business of RI such as rent control would’ve yielded more valuable discussion. Instead this post has predictably only surfaced entrenched political positions.

  10. Charles A.

    Shame on this writer for this absolute hogwash.
    An even bigger shame on whoever is moderating blog posts on bigger pockets for allowing this sort of trash to taint the site.

    @mindyjensen @scotttrench @brandonturner @joshdurkin or whoever else is eminently responsible.

    This is an irresponsible article.

    Like the writer,I’ve visited all those places he mentioned….and many more.
    Just got back from Australia and Nee Zealand.

    Finland and Denmark are far from Venezuela.
    He should add those places to his bucket list and get educated.

    We currently provide unemployment benefits and food stamps to those that are down on their luck…paid out of your taxes.
    So you’re already in a socialist republic,are you?

    Let’s keep this site about real estate and real estate only.
    Dr Robbins can go to the silly Fox News and Breitbart comments sections online to continue spreading his awful dribble.

    Check this,guys,before you start losing users.
    One more of this nonsense and I’m canceling my pro membership.

    • Evania Ku

      Finland and Denmark are not Socialist countries, they are Capitalist countries with expensive social programs. They hate being associated with Socialist countries because they encourage free markets. They NEED Capitalism to fund their programs.

      Venezuela, on the other hand, is Socialist and the same rhetoric used by Hugo Chavez when he rose to power is the same rhetoric coming out of the mouth of far Democratic left.

  11. Frank Boet

    This writer can”t have an opinion? There have been plenty of articles that I disagree with, but I don’t spend my time bashing the writer. Why do some of you associate this writer with FOX NEWS? Do you have a bias against FOX? Are you brainwashed by CNN, MSNBC and all the other Fake News Media? You bashers get a life! If you don’t agree with a story, ignore it and move on. As a Cuban-American that fled communist Cuba, LEGALLY, I appreciate someone writing about the evils of socialism that 70% of Democrats now embrace. Now, that is scary!

    • Michael Tracy

      This isn’t a political site dude. That’s the point. Stop with the politics talking points. I don’t care what networks you watch. Wrong venue. People like you look for any excuse to start your BS and you poison everything by setting everything up as a war between all the crap you say (fake news, communist ness network) and anyone that doesn’t say the same thing. The comment you replied to just said no politics. You used that as an excuse. This is what you do. Here’s some real news: 70% of this country is tired of your act. Count me as one. Get a positive hobby bro, seriously

  12. Andy Gibson

    The rent control piece might have been beneficial for a discussion, but most of this article was laughable conservative talking points around liberal’s socialistic views. Watch out, liberals want to take your hard-earned money and property!

  13. David Hald

    To echo previous comments, it’s disappointing to see such a lack of nuance and detail regarding something that many investors actually may be interested to know more about, regardless of their political loyalties/”millenial” status.
    I rely on BP for conicse and practical information about REI, and this site is a wealth of information and community. This article provides nothing practical, and is a bit confusing to see here on BP, which many of us have come to know as a refreshingly a-political voice online for REI info.
    BP successfully published at least one article detailing the new tax code months ago and its effects on investors, and the changes to prepare for. This was exemplary reporting, as it included no political hyperbole nor any ‘spin’ for or against.
    This article is out of place on BP, lacks a detailed argument, and seeks only to emotionally trigger and frighten readers of the the generic threat of “socialism”. Most of all, there is nothing useful in this article, regardless of readers’ politics.
    I hope BP reads the comments.

  14. Mary White

    I thought the article was interesting and as Oregon investor, I’m in the middle of evaluating the political leanings of the markets I choose to invest in. I choose not to live in fear. Not fear of political control or fear of the almighty “younger generation.” I agree that our country is leaning more towards a socialized society, but my money will be pulled out of real estate long before America seizes our properties and takes away free will. Real estate is very closely tied with the local and national politics of this country and those with negative comments should not be so sensitive about a healthy discussion on the topic.

  15. Chris Grebeldinger

    This is actually an interesting topic but the term ‘socialism’ is misleading and inflammatory. I looked up the policy you referred to in ‘the green new deal’:

    5. The right to decent affordable housing, including an immediate halt to all foreclosures and evictions. We will:

    -create a federal bank with local branches to take over homes with distressed mortgages and either restructure
    the mortgages to affordable levels, or if the occupants cannot afford a mortgage, rent homes to the occupants;
    -expand rental and home ownership assistance;
    -create ample public housing; and,
    -offer capital grants to non-profit developers of affordable housing until all people can obtain decent housing at
    no more than 25% of their income.

    I don’t know if it’s a good policy or not, but it certainly doesn’t sound like Venezuela to me. There is nothing about seizing property. More like an expansion of subsidized housing, which I think would actually benefit property owners.

    • Christopher Smith

      Very interesting how the Post is owned by Jeff Bezos who has had at least two recent very major run in’s with the Socialist agendas of New York and Washington states.

      His reaction was similarly very interesting and quite illuminating even if somewhat unexpected. Perhaps for Jeff it’s just a question of whose ox is getting gored.

  16. Dominique Pradel-Lewis

    Where do I go to get my wasted time reading this article? The BP community was created to share, support and advice, newbies to seasoned, investors along their journey and this article violates that objective with all of its political rhetoric, imaginative and unfounded speculations. I was excited to tune in and find something I could learn from: Sadly it was only Fox News…..
    The author is at best misguided, at worst malicious. After reading the article what does the author want us to take away? Vote against democrats to further his agenda or stop investing so he gets a bigger piece of the pie? One is left wondering……… But seriously BP moderators need to do a better job of keeping propaganda away from our site!

  17. Evan Markfield

    WOW — so bigger pockets is now a venue for Fox News-style propaganda? Thought this was about real-estate investing, not scaremongering by misrepresenting what Democratic socialism is to rile up the right-wing base.

    What an absolute joke. You should be embarrassed to have this posted here.

  18. Craig Browning

    This article is right-wing garbage.

    I’m very glad the younger people have the sense to adopt Democratic Socialism.

    This right has given us record inequality, and our very democracy is threatened. Our government is mostly bought by a tiny few.

    Investments in the public, anti-poverty, education, healthcare, productivity, innovation, the environment, and a lot more are hugely harmed by the oligarchy we now have.

    And there are bigger issues than any few people’s investment, like the country having housing – but the article falsely portrays these at odds.

    Reducing inequality would allow MORE investors to own MORE and have LARGER incomes.

  19. Michael Tracy

    If I see such a blatantly political BS article thinly disguised as RE advice on this site again I will cancel my subscription. There is enough of this garbage out there. Wrong venue. Really, really disapppointed in BP. I’m sure this political hack author will be taking the Medicare and Social Security checks that socialism fostered – if he isn’t already. Just because we are trying to fix the MESS your generation left us don’t try to predict the future in what we will do. You had your chance. Go post on Fox website. Us “millennials” are trying to make some $ over here don’t have time for your old people fighting.

  20. Jesse Walters

    I am disappointed that BP let this politically charged, fear-mongering email in my inbox. I was assuming this was an article informing us about the next market correction but instead the author went on a rant about socialist millennials (very akin to the socialist baby boomers of the 60’s and 70’s) who are going to take over the country and institute marshal law. Sadly, baby boomers have forgotten how they were 40 years ago as they seem to parade around the current millennial narrative as if they weren’t acting the exact same way 40 years ago. Cheers to short term memory and long term success!

  21. Sheila jordan

    I thought this article was going to address the Insane increases in property taxes all over and the raising of those taxes by hundreds of dollars.
    This was clearly a thinly veiled political slant that had no place here. By the way when youre collecting your social security check, thank Francis Perkins, a socialist heading the Dept of Labor under FDR who brought social security from Europe. Oh and thank Francis Perkins who brought the minimum wage so people can afford to live on your property instead of a cardboard box. I can go on and on but it’s time people educate themselves and stop guiding their beliefs based on fear.

  22. Andrew Jurinka

    If you haven’t read “Atlas Shrugged”, I suggest you do.

    One poster commented on some of the proposed political changes as ” it certainly doesn’t sound like Venezuela to me”. Well, Venezuela is now Venezuela because it chose to believe politicians that were going to solve all of their problems. It took a few decades and now a country with the worlds largest oil reserves and their people are digging through the trash for scraps.

    While folks are chiming in and saying this infused with politics, the fact is that the government can and seems to be changing the rules of real estate. The income side of the equation is driven by rent. Rent control limits what one can charge. If a Social Democrat from the Bronx suggests doing more in the name of her chosen political ideology with government entities taking over housing, controlling rents, and guaranteeing anything, well, you should be aware of this and make your own decision. Given that we have all worked on, in and built up what we have as owners of real estate, the idea that a politician wants to tinker with your livelihood should scare you. The government is not a market maker. Capitalism has brought you the computer you sit at, the light in the room and a refrigerator full of food. Don’t forget that when a bartender becomes a politician and suggest that she knows what’s good for your family. The government is the strongest force in our universe and quick fixes to solve a few peoples problems will lead to unintended consequences. Beware.

    • Michael Tracy

      I read Atlas shrugged in 8th grade and it was a bit below my intellectual level at that point. It’s premise is ridiculous and requires the belief that if we could just get rid of all the “takers” and other “lazy” people then things would be great. On the island the went to, were there roads? Stoplights? Churches? Who worked at their new factories? Who built them? Did they pay the people there? We’re there grocery stores? How about a sewer system? My pint is that nobody does it alone, (maybe Robinson Caruso), and as soon as I got through adolescence I understood that Atlas Shrugged was just a window into the minds of people that lack empathy and an adult understanding of the complexity of society. Atlas Shrugged? Grow up bro

      • Andrew Jurinka

        Yes, we all did grow up from 8th grade. Now the you’re out of middle school, you might be able to understand the concepts. Maybe.

        It’s an 800+ page tome to capitalism. Written by a women who escaped communism and came to the US to be a free citizen of the world. This was her tribute to this country and the people that built it.

        Clift notes don’t suffice to summarize. If “takers” and “lazy people” is what you took away, you took something away, but an unfortunate conclusion and a dangerous one. Folks get it or they don’t I can’t imagine an 8th grader getting it, but being an adult doesn’t guarantee that you will get it either. Good to be open minded.

        Jeffery Gitomer, the author of “Little Red Book of Selling” said in an interview with Jake and Gino (highly recommend, btw), said that Atlas Shrugged is no longer a novel. It’s happening. I agree.

  23. Eric Arico

    Great article! This is not fear mongering. If you are in the residential real estate business you need to pay attention to Brian’s message, particularly if you own property in a high cost area on either coast.

    In 2017 I bought a duplex in Oakland, CA from my landlord. I had lived in the building as a tenant for 5 years prior to the purchase. At the time owner occupied duplexes (and triplexes) were exempt from Oakland’s rent control and just cause for eviction ordinances. I obviously took these exemptions into consideration when I asked my landlord if he would consider selling the property to me. At the end of last year Oakland voters passed Measure Y stripping my property of exemption from Oakland’s just cause for eviction ordinance. Now the city council is planning to enact an ordinance that will strip my property of it’s exemption from rent control. The city council sees nothing wrong with forcing me to provide a life-long lease, and below market housing to my tenant (who earns more than me BTW) just because I’m an “evil property owner”.

    Rent control may not sweep the nation, but there is a renewed push for it in high cost cities where the majority of voters are renters. It’s bad policy that will end up reducing the quantity and quality of housing stock, but that won’t stop people voting for it.

  24. Jacqueline Toal

    Great article. All I see ( not researched just observation/opinion) is outward migration away from the most progressive states into more reasonably priced and fairly taxed states. …where property taxes and housing costs make more sense. In Illinois, we are getting whacked with even more taxes and government intrusion. … everyone running to Indiana, Mississippi and Florida. When I go to my Florida property, seems like every New Yorker I meet is trying to get out.

    As a landlord, these issues are very pertinent, just like as a doctor, the thought of government controlling healthcare is frightening.

  25. Ryan White

    A bunch of hateful inconsiderate liberals here.
    The author has a right to an opinion, and just because you disagree with the author doesn’t give you right to censor them and tell them to go somewhere else.

    • Craig Browning

      The liberals here are not hateful or inconsiderate – they’re the ones who care about people’s well-being and love their fellow human beings, not only money that hurts people.

      They do have a right to not want right-wing propaganda – is the site going to provide an article from people with other views – say, me – also? Is it going to become a site for that debate?

      The hate and inconsideration I’m seeing is yours for liberals.

  26. petya ivanoff

    Just because real life capitalism is not perfect, it doesn’t make socialism a potential solution. Real life capitalism should be compared to real life socialism not to some ideal fantasy that supporters claim socialism to be. I ran to the US away from real socialism. People can’t be forced to help each other and share all benefits. They will care about private property and business even if Stalin is in charge. In capitalism, people help each other voluntarily. Perhaps, mutual help should increase but definitely not because the government says so.

    • Katie Rogers

      We are not experiencing “real-life capitalism” in the US right now. We are experiencing toxic crony capitalism. When corporati0on successfully quash competition, the result is unhealthy inequities because competition is an integral component of healthy capitalism.

  27. Brian Robbins

    Thanks everyone for your comments both pro and con! For the record, I did start out the story with …”What I’m about to say might not make me popular.” Those who are name calling insult the “real” political types by calling me a political hack…as I am not now, nor have I ever have been involved with political activities. I am not a big fan of either of our major parties and think they do a pretty poor job of representing anyone…except themselves. I did learn something new, as I was not aware that the “S” word I used in my blog a number of times was so inflammatory. However, I was concerned that in the current political climate, some would take me out of context.

    This article was also not an attempt to take a swipe at millennials as I can completely understand the pain they experienced in the last downturn (as I experienced some of that pain myself) and I was primarily quoting the article by Steve Chapman as one explanation for their leanings.

    I tried to write a story that stimulated conversation on policies that are affecting real estate today. If you are a landlord in Oregon you are certainly paying attention. Regardless, if it was the blue giraffe party or the purple squirrel party that suggested abolishing foreclosures and evictions, I think it is perfectly appropriate to discuss on BP which is a real estate website.

    The way I see these issues is that they are not Democrats vs Republicans vs Independents, but really Socialism vs Capitalism; two economic systems with differing monetary policies. And yes, I know that America has some components of both. If anything, I let my personal leanings towards free market capitalism push me a bit more in one direction than the other. Ok, I admit it..I can’t help myself…I am a “Card-Carrying Free-Market Capitalist.”

    Really though, my biggest regret is not getting a single comment on my Jaws impression!

    • Craig Browning

      There’s a lot wrong with your right-wing garbage, but to pick just one thing, it’s fundamentally dishonest, in point after point. It’s too bad THAT isn’t higher on your ‘regret’ list.

      I’d have to copy almost the whole article and make a very long post to do any justice to going over the specifics.

      There’s also another basic flaw, to pick one more issue, which is the false use of the labels ‘capitalism’ and ‘socialism’ to paint over all the real issues.

      The word capitalism is used to describe everything from the most rapacious, harmful activities for profit – which could include even the history of slavery – to mom and pop shops.

      The word socialism, meantime, is used to describe everything from Maoism, Stalinism, Venezuela to Scandanavia, public schools, libraries, and fire departments.

      In other words, the simplistic use of those words falsely PREVENTS any accurate discussion.

      The progressive policies that want to ensure people can have a place to live are not the enemy of real estate investors – but if there IS some area investors lose out in some way, for valid reasons, an analogy would be that many people once had their livelihoods based on slavery, and they had to suffer economic harm for a ‘liberal cause’ of ending slavery. ONLY caring about ‘making a buck’ is not the answer. Luckily, unlike slavery, progressive housing and real estate investors can both exist together, despite the lies and fear-mongering of ignorant right-wing ideologues.

  28. Kimberly Gillock

    I totally agree with the article. Sorry, not sorry, for those of you who don’t like the opinion of the article and think it’s inappropriate for BP. Unfortunately politicians and their policies have a big effect on real estate and investing, so it’s very relevant and something to which we should all be paying attention. As a millennial myself, I am very discouraged at how many of my peers seem to be oblivious to history, economics and even the current reality happening in Venezuela, Cuba and Russia. America and capitalism aren’t perfect, but more state regulation and class warfare are not the answer.

    • Craig Browning

      You obviously should be a lot more careful about throwing around accusations of ignorance which you’re far more guilty of than the people you accuse. But this post isn’t the place to educate you.

      But just one point – the only class warfare in the country is waged by the extremely wealthy against everyone else. Go look up any data on the distribution of wealth in the US and its history, and see the steady use of power to concentrate wealth in few hands more and more for decades until now when we’ve reach record levels, and 3 people own as much as half of all the American people.

      That’s not some benevolent thing – that wealth is used to protect their interests by destroying democracy, buying government, limiting opportunity, reducing productivity and competition.

      Look no further than climate change for an example of the effect.

  29. Mark Bacon

    Very timely article. Thank you for this article I can really see a radical leftist getting into the White House in 2020 or 2024 and it is absolutely relevant for how you should plan your financial future. Once they get in they will make it very difficult for you to speak out. So don’t be afraid to discuss this very important topic. They would shut down all opposition if they could. These leftist types really are authoritarians who love to rule over people. The media and educational system has raised a generation of radical leftists who would turn their own parents in to further their delusional brainwashed causes. No different than the Maoist brigade of the 60s. I pray these nutcases will not take over.

  30. Nathan Lindley

    Excellent article! I live in Oregon and saw the writing on the wall so I sold my 4-plex! This is totally relevant to the topic of BP as it is the rules by which we play the game that are changing. It may be the single most relevant topic! I will not buy another property in Oregon unless they change this law and advising several friends to do the same. Thanks for the great article!

    • Andrew Jurinka

      Makes sense to me. Folks are doing the same thing in California. Since money can simply move from one state to the next. And aside from Craig Browning, to support real estate in Oregon, most folks will go to states that don’t put their money at risk. And, those states are booming! Texas, Arizona, Nevada, Florida and other business friendly states are doing amazing. And so are the people who live there. Compare wages and housing to that of NY or CA or OR. Huge difference.

  31. Evania Ku

    Kudos to BP for addressing this very real issue affecting real estate investors. Politics doesn’t have to be divisive. Anyone calling down “shame” on the author for having a legitimate opinion exemplifies the mess we are in as a society. Who taught them to be so angry and close-minded? This country was founded on FREE ENTERPRISE for all. The fact that we are able to better ourselves through business opportunity continues to be a major FORCE FOR GOOD in this world. Punishing the people who fund our charities and pay most of our taxes is misguided and naive. If Socialism takes hold in America, how long before we run out of money? Venezuela fell faster than anyone thought it would. It has resources galore, yet the people are starving. Fortunately, I believe there are enough people in America with common-sense who don’t believe the lie of utopia.

    • Craig Browning

      This isn’t the place for a debate about politics, despite your posting one (wrong) side of the issues, but praising the people who pay taxes and charities IS an issue if they get that money wrongly.

      Imagine a society where most are in economic slavery where a few get all the rewards for their efforts – does it matter those few are the ones paying taxes and charity?

      Hell, drug lords have been famous for paying for schools and hospitals where they live – does that make it wrong to criticize them, too? Venezuela is not what Democratic Socialists support.

  32. Nils Stewart

    What did I get from this article? I didn’t get triggered – haha.
    instead, I got questions to ask myself when looking at a deal – How do we still make money with real estate in this next ten years? Rent control, pro-renter laws, increase taxes for social stabilization? Wow – what numbers work?
    If you’re a buyer right now – you may be golden. Point out the panic about to happen, how you might have to gut your expected returns and negotiate the price of a property based on the new math.

    We should just call it “Millennial Discounted Pricing”.

    • David Pizzi

      What many misunderstand about generations (especially the millenials) is that much like any investment strategy, painting anythimg with a broad assumption is a great way to lose money.

      The milennials certainly have specific traits special to their generation, but they’re human beings just like us. They age, have bills, children and dreams just like any other generation.

      The American dream is still intact – sure it’s changed a bit, but people still want to raise families, have decent schools and secure neighborhoods.

      My investing in tier 2 markets aligns with this generational shift. This generation wants to give back to their community more, rebuild areas left for dead and own the idea that theyve been part of something that will last throughout history. GenXers and Baby Boomers didn’t have these traits.

      So, yes milennials can be more selfish, but it skews differently regionally from what I’ve seen first hand.

  33. Mike Lauer

    This is the most irresponsible blog post I have read to date on BP. Absolute garbage. It should not be published, let alone promoted through email (as it was). At its core, this piece is polarizing propaganda and has no place on the most useful and trusted real estate investing website in the world.

  34. brian ploszay

    This article is alarmist. Socialism is a fad right now and it shares some of the same political anxieties that fueled Trump supporters: The middle class is declining. It is unlikely that socialism will become the dominant economic structure of this country.

    There always will be evictions and foreclosures. Else the market will completely collapse.

    The issue to watch these days is rent control. It is gaining some popularity despite proving to create housing shortage in the long run.

  35. Kevin McGuire

    Agree about the erosion of the middle class being the root of much of the current ills.

    FWIW most of my rental properties are in Ontario Canada that each year dictates a maximum rent increase based on inflation and other indicators, usually a bit under 2%. Exceptions can be applied for. So not quite rent control, I can set a new tenant’s rent as I want, but it is an economic limit unrelated to market forces. I’m not crazy about it since if I miss an increase I can’t recapture it and I can’t flow my cost increases to my tenants. I get why they do it, it ensures that a landlord can’t price a place out of the tenant’s reach.
    Despite that I continue to buy in that locale because they cash flow at my target cap rate and the housing prices have a stability which meets my investing goals. This all to say that the RI decision is a lot more complex and nuanced than represented in the article and much of the ensuing comments.

  36. Ann DeLage

    Funny the right wing never use the correct socialist/capitalism definitions- think Scandinavian. The happiest most economically successful nations on the planet. Not the failed dictatorship of Venezuela. Bigger Pockets should promote inaccurate, fear mongering partisan politics!

  37. Timothy W Rodriguez

    Mr. Robbins,

    This country is made up of nothing but immigrants that came here either escaping something (socialism, communism, social injustices, human rights violations), or to better themselves and their families in a better economic opportunity.

    Once this country stops offering the people of the world all the advantages that the freedoms and protections of the constitution offer it stops being the United States of America.

    I do not think that we that are here, now, will allow this to happen. Should it come to be, cause there are people in the US that actually voted and support the current administration, then the United States of America will cease to exist. Nothing but survival will matter then.

    With Respect,

    Timothy W Rodriguez Alfonso
    Cuban Political Exhile (’62)
    Naturalized Citizen

  38. David Pizzi

    I’m not a fan of this article because it’s a bit extreme in its hyperbole, and loose on facts. Feels like the author is just trying to stir up emotions to sell his book.

    The biggest disparity here is defining Socialism and its present day/future day effects. Rent control is not socialism. It’s been a progressive approach to a problem that rears its head every few decades. NYC and SF have had rent control in place for decades and landlords still do fine. The question at hand is should all properties be rent control and will all of these more liberal bastions of the country support that move. The short answer no and no.

    California just tried to push this forward in a proposition last election – it failed miserably. The governor and most democrats in the state (including what we in the bay area like to call “Republican” Democrats) are opposed to this policy. I won’t go into the exact reasons why (do your own homework), but people don’t realize universal rent control across major densely populated areas doesn’t fix the housing cost and supply issue…actually does the opposite. One major fix for this is mass transit and offering major tax incentives for companies to build out their footholds from major metro areas. Liberal states do a poor job of this because the mass transit systems are archaic and they are hostile to businesses. That’s why we’re seeing major tech and finance companies move to red and purple states (Texas, Tennessee, Georgia, North Carolina, etc.). They’re just easier to do business in on many fronts. These states happen to also be very capitalistic-based.

    The biggest issue people need to remedy is their understanding of Socialism. Pure socialism just doesn’t work. It’s been tried many times over the past 100 years, and fails. Again, do your own homework. Europe and Nordic country (contrary to popular belief) are not pure socialist countries. However, the amount the federal government takes on in those countries has SEVERLY hindered their ability to grow their economies and be competitive on the world stage. Europe and Nordic countries have suffered a lost decade plus in this recent global bull market because of this. Canada isn’t even Socialism. It’s a very capitalist country with lighter socialistic traits. It succeeds because of its trade proximity to the US.

    The countries that “succeed” at socialism are going through major upheaval right now because of Socialism. France, Germany, Italy, Spain, UK, etc. are all trying to steer away slowly from socialism, heavy govt state because of how much those budgetary constraints put on those countries. Nordic countries imparticular have moved away from Socialism for this reason as they saw a major decline in GDP during the 90’s. These are also very homogenous countries. No country has the diversity of the US, so comparing Finland’s needs to the US is pure idiocy. Our population is larger, economic system market and state based and the housing, medical and employment needs of our country are night and day to Europe’s. Please stop this terrible comparison.

    Bottomline – our country exports wealth. That is only possible through competitiveness, greed and capitalism. If we don’t export wealth to the world, the global economy suffers. Capitalism isn’t perfect, but Socialism is worse. As a GenX’r, we need to be more pragmatic about the needs of our country for sure, but this idea our culture has of “all or nothing” is completely ridiculous to expect. Capitalism has showed time and again how flexible it is. From corporations giving back to their local communities, to government affording everyday investors and immigrants the opportunity to thrive based on investment enhancing opportunities. European countries just can’t say this as their immigrant population are marginalized on a massive basis because they don’t assimilate to the entrenched culture.

    We must stop knee-jerk reacting to posts like this with left vs. right talking points. Politicians on both sides have had the story wrong for some time. Bernie is no better in his socialistic rhetoric than Trump is in his populism policy rhetoric. The core that holds it all together is our checks and balances of government, judicial system, constitution and….that’s right, Capitalism.

    Keep an open mind, don’t blindly watch Fox, MSNBC or CNN and just think those are the fundamental views. Remember that there are ENTIRE portions of this country still suffering. Not because of Obama, Bush or Trump, but because much of the power consolidated in Washington D.C> that past 30 years has forgotten them – left them behind.

    The current election of Trump (at its core) wasn’t a hate vote (many of these states voted Obama overwhelmingly). It was a warning sign that the symptoms of the imbalance in our country are growing too great to ignore anymore. Capitalism is trying to fix that in cities like Indianapolis, Kansas City, Columbus, OH, Austin and Baltimore to just name a few. This is seen in companies moving closer to strong higher educations institutions to access local talent and make their coffers more profitable. Philanthropy is at a great peak right now as companies like Eli Lilly and Salesforce donate hundreds of millions of dollars to rebuilding their local communities and addressing the needs of them.

    It’s easy to point fingers these days – my two cents…think before you shoot.

  39. Ken Maddis

    As a newbie just getting my first couple of properties under my belt, this blog could have been better served by avoiding the ‘socialism’ word and apocalyptic predictions, and rather dealing more directly and pragmatically with rent control, rising property taxes, and perhaps even the Green New Deal (if that’s even going to be a major issue for investors).

    Otherwise, this blog has served no useful or practical purpose.

  40. Mark Hutchinson

    Great points Brian. Thank you for the article. It’s great food for thought. One additional item that I saw recently was that some legislators in Illinois were pushing to use IRA a 401K funds to cover shortfalls in the state’s Pension funds. Since Illinois has it in their constitution that they cannot default on pension payments, they are eying the savings from people who have been responsible savers during their careers as a solution to budget shortfalls. That would start a really frightening precedent if states started raiding private savings. Sounds a lot like Greece a few years ago.

    • David Pizzi

      Illinois ranks dead last on US News’ US states fiscal stability. If you’re invested there, be warned that your tax burden will slowly, but surely, start to look like New Jersey’s and California’s. There’s just no way around it and the migration numbers of the hollowing out of the middle class show that.

      I’m staying very far away from Illinois.

  41. Jurga Ciutaite

    Hi Brian,
    I think what you are describing is communism and not socialism. In communism the wealth is redistributed by handful of strongmen who have absolute control and power.
    I’m glad to see that younger Americans see benefits of socialism and disagree with vulture capitalism where honest and hard working people are robbed of their homes because of a ” loan processing glitch” at Bank of America. That’s just one small example. Most of Europen countries are socialist countries and people own and invest there as they do here. You need to inform yourself about the difference of communism and socialism. You should visit and live for a little bit in any European country. It’s quite nice.

  42. Doug Young

    I’m surprised and disappointed to see this obviously very one sided and inflammatory article on BP. It’s typical extreme conservative fear-mongering that the evil liberals are going to come and take away your cars, homes, guns, planes, hamburgers, hard earned money, daughters and whatever else they can think of.

    I live in one of those evil ‘socialist’ countries in Europe, Czech Republic. All the major US companies have big investments here DHL, IBM, HP, Amazon, Microsoft, SAP, Honeywell etc etc etc. People can buy and sell property, no problem (although property is a lot more expensive here than the average price in the US so not such a good investment now).
    People pay taxes and have almost unlimited ‘free’ healthcare. No health insurance company is going to kick you off for being too sick. School and college is totally free too. New mothers get 18 months off work to look after their kid. There’s almost 100% employment (thank’s to those capitalist employers mentioned). Public transport costs 200 dollars a YEAR!
    It’s a good place to live, what’s the problem? It’s not Venezuala, Cuba, or Soviet Russia. Nobody is coming to take away our homes, cars, or money (other than reasonable taxes). There are no guns, and we even have hamburgers courtesy of McDonald’s and Burger King.

    Seems like some of the conservatives in the US are living in a 1950’s bubble, and should go and see the rest of the world before proclaiming their way is the ‘right’ way and stirring up fear for things that are not remotely based on fact.

    • David Pizzi

      the challenge is that those programs cost lots of money, and keep gdp growth low because there’s less money to push growth in other areas of the economy.

      capitalism is much more flexible than socialism because it can provide for the public good in many different ways, without making long term guarantees to social welfare that cant be negotiated at later dates. look at the failure of the auto industry in the US as a precursor, as well as Macron’s effort to reel back pensions in France.

      The EU block as a whole has demonstrated how poorly socialism has knee capped member countries economically. The only truly substantive gdp growth countries are france and germany. The others are bent to the currency and governing will of the blpck. They can’t devalue their currencies, theyre forved to buy goods from other countries that may not be in their best trade interest (greece is forced to by military hardware it doesnt need from germany as part of its bailout) and this in turn destabilizes the political environment in the block because many of those educated countries people cant find work because of the high unemployment.

      Socialism sounds great for all the reasons you listed, but few people look behimd the curtain to see the macro effects of how it has deterioated EU countries global power and why the populist uprising is in full swing in multiple countries. These people arent just racists and right wing nuts. Many just want their country to take back control of their future instead of handing power and money to a socialist body where it all rises to the top. which ironically, sounds a lot like the US’ problem right now.

      So, does Socialism really work?

  43. Sam White

    Love the Article. Economics are very important. And when speaking economics like a big boy, you gotta talk theories. Or big girls… lots of sensitive people commenting on this thread.

    I live and invest in Texas. A beacon of freedom and liberty. But there’s socialists running for mayor of my City of Dallas and various city council positions. And they are talking about rent control, rental registrations and inspections, and tons of new expensive entitlement programs that will be funded by property tax dollars. Call it socialism, call it Big government. Call it a reason to start throwing tea in the ocean.

    Either way, it is bad for business, bad for property owners. And this article is highlighting economic policy driven by political culture that is very bad for our economy. That is important.

    If you can’t talk economics like a grown up, and that means talking it with people who you disagree with, accepting that they have an opinion, read about it, engage in dialectics; if you can’t do that, you are intellectually immature.

    I am a millennial, and I invest in property because I believe in the founders intent of “life, liberty, and the pursuit of property.”

    Socialism sucks.

  44. Kevin McGuire

    I’d like to believe that in a learning community like BP that we could approach dialog from differing viewspoints without descending into personal attacks and dehumanizing their position by broadly painting a person’s comments as being “typical” of some group. I’d also like to believe that one of the most important outcomes of a democratic society is to gather from a variety of viewpoints in order to achieve the best possible solution. To do so however requires allowing yourself to be discomforted through considering the merits of views and values which differ from your own.

    There is an illness in our present time which seems to be preventing that exchange. The exchange makes us individually and collectively better.

    So while as you can read in my posts here that I disagree with some statements, I celebrate people’s right to make those statements and appreciate the person who took the time to put together a thoughtful argument. And to the degree that I allow myself, I hope I can learn from them.

    Let’s try to do better here, folks.

  45. Alex Sheppard

    Thanks for writing this article, Brian. I enjoyed it (and the comments) because it got me thinking about rent control. I may not want to own a lot of property in one area. I’ll have to put more thought into that.

    Now, as far as economics and politics, unfortunately they are married and not soon to be separated. Politics and the laws created by politicians need to be addressed on BP. They have a direct effect on our investing. Case in point, we reviewed the Tax Cut and Jobs Act for real estate tax breaks and are using new strategies with our investments.

    As much as I dislike politics and our political leaders I realize they will continue to do things that affect my economic future. This article was very appropriate for BP.

    • Susan Harrington

      It’s not about politics. It is about facts. BP articles should Have factual underpinnings. Sure if rent control has an impact on investing in real estate (it may) it is totally appropriate to discuss it. But the discussion must be based upon accurate information that is not colored by political views.

  46. John Murray

    Every generation has their opinions and the agenda is always based upon self preservation. Most humans want to be led like sheep and feel good about it. The young today were sold a bill of goods by the doctrine of scholarly achievement. They have paid a huge price and will struggle for there misled directions. Their influence will carry little weight in the political spectrum, after their angst has been fulfilled they will fall into formation like good little soldiers. There will be no savoir and no change in their world, they will serve their corporate master. Taxpayer bailouts will continue and the US will continue on the path of government controlled growth, after all the $22T debt has to be paid. The best way is print money and we all know what that means.

  47. Alex Sheppard

    Hi Susan, thanks for the reply. I enjoy reading other people’s political opinions. It forces me to think about my opinions and consider another viewpoint. I thought the article in question was a nice blend of fact and opinion. Whether we like our political leaders or not, their actions have a direct effect on our lives. I’m not impressed with the current group of politicians running this country but that’s why also why I track politics. I’m not going to give up on investing, I just need to be prepared for the economic outcome of political decisions.

  48. Walt Monroe

    This article is one man’s opinion on how real estate investing could be affected by political change. His thoughts are worth pondering, whether one agrees with him or not. It is obviously an opinion. Many articles about real estate investing are opinions, speculation, dependent on ever changing possible variables that could or could not happen. If I don’t agree, I move on. I don’t want anyone’s opinion regarding real estate censored on bigger pockets. These opinions did not espouse racism, sexism, religious intolerance, etc. It discussed how real estate investing could be affected by a changing political landscape. I don’t need bigger pockets to think for me. I can determine bias on my own without censorship.

  49. Rick C.

    The use of the word “socialism” needs to be approached with a higher level of nuance, because there are significant differences, benefits, and consequences involved with each type (i.e. democratic, libertarian, market, etc.). The author of this article, along with whoever is moderating these posts, should have researched and noted this before allowing such an overly simplified, alarmist piece to be published.

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