How do we solve the housing crisis in America???
Most Popular Reply
Henry ClarkPro Member
Developer · Member since 2020 · 4k+ posts · 4k+ votesAlways start with the numbers. What market? How many? What is rental cost? What is ownership cost? What group of people?
By renting trailers you may be causing the problem. By selling houses to them you may be causing the problem. What are your numbers?
Approach the question backwards. How would I increase the number of people who can’t afford housing? Dissect the issue.
360,000,000 people.
How many can’t afford housing. What do you mean by can’t afford housing? Can’t buy? Can’t rent?
Why is it bad that x% can’t afford housing? Unless you’re homeless you have housing. Are you talking about homeless? Define the who.
160 Replies
- Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes2y
Gone is the 3 bedroom, 2 bath, 1 car garage starter home. But it doesn't have to be gone. It won't be government solving this though, Government creates more problems than iy solves.
It will be the Private Money Sector!! Trillions in liquid capital that exists today. For those who know how to access it.
- Member since 2019 · 7k+ posts · 4k+ votes2y
Quote from @Bruce Woodruff:
To reiterate and follow up on what @Carlos Ptriawan and @Colleen F. said, there is no lack of affordable housing. There is a lack of houses that people can afford exactly where and what they want. And there always has been....not everyone can live within 30 miles of the coast.
People need to stop whining and move where they can afford a house...or get another job. Or get 2 jobs. I don't care, I'm just tired of all the whining....
yep, and they dont even need to move ; just buy the freaking mobile homes if they still want to stay in san diego, I just checked there's luxury MH for only 99k in the bay area LOL.
If they want real luxury to feel good just buy tesla , There's large MH next to google office for ..... around 300k.
there's affordable condo in SF market still for 299kThese affordability issue is just entitlement issue, people complaining about college, about real estate, while the alternatives are still available today.
Food expensive ? taco at taco bells still two dollar.
Grocery is expensive ? stop buying at whole food and buy at grocery outlet or some-hispanic-name food store.
There're lot of choices...... lol - Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes2y
Quote from @Carlos Ptriawan:
Quote from @Bruce Woodruff:
To reiterate and follow up on what @Carlos Ptriawan and @Colleen F. said, there is no lack of affordable housing. There is a lack of houses that people can afford exactly where and what they want. And there always has been....not everyone can live within 30 miles of the coast.
People need to stop whining and move where they can afford a house...or get another job. Or get 2 jobs. I don't care, I'm just tired of all the whining....
yep, and they dont even need to move ; just buy the freaking mobile homes if they still want to stay in san diego, I just checked there's luxury MH for only 99k in the bay area LOL.
If they want real luxury to feel good just buy tesla , There's large MH next to google office for ..... around 300k.
there's affordable condo in SF market still for 299kThese affordability issue is just entitlement issue, people complaining about college, about real estate, while the alternatives are still available today.
Food expensive ? taco at taco bells still two dollar.
Grocery is expensive ? stop buying at whole food and buy at grocery outlet or some-hispanic-name food store.
There're lot of choices...... lolA lot of truth there.
- Member since 2019 · 7k+ posts · 4k+ votes2y
Quote from @Nate Marshall:
Gone is the 3 bedroom, 2 bath, 1 car garage starter home. But it doesn't have to be gone. It won't be government solving this though, Government creates more problems than iy solves.
It will be the Private Money Sector!! Trillions in liquid capital that exists today. For those who know how to access it.
So 3/1 in our area is about 900k , 2/1 is 500k.
Solution: purchase $500k 2/1 w/ 1000 sqft ; add 1 BR+1 BA Total spent: 20k-40k
Money saved $470k.
There's always solution.... - Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes2y
Quote from @Carlos Ptriawan:
Quote from @Nate Marshall:
Gone is the 3 bedroom, 2 bath, 1 car garage starter home. But it doesn't have to be gone. It won't be government solving this though, Government creates more problems than iy solves.
It will be the Private Money Sector!! Trillions in liquid capital that exists today. For those who know how to access it.
So 3/1 in our area is about 900k , 2/1 is 500k.
Solution: purchase $500k 2/1 w/ 1000 sqft ; add 1 BR+1 BA Total spent: 20k-40k
Money saved $470k.
There's always solution....3/2 allows one to do padsplit and other strategies that are workarounds from STR regulations.
- Member since 2019 · 7k+ posts · 4k+ votes2y
in our area the biggest flipper strategy is adding room and bathroom (permitted) and then convert garage to ADU, it's 400k money printing system for them. thing is owner occupant can do exactly the same thing. This will save their mortgage money by a lot if they understand the cost of repair is cheap.
- Member since 2019 · 7k+ posts · 4k+ votes2y
so actual issue is not home affordability but land price , a 90k home 2/1 in gary indiana is actually way better structured than 2/1 in cupertino,CA where price is 1.5 mil. The actual intrinsic value of the house itself is only ... 80k maybe, with land price in indiana is close to zero and cupertino close to $1500/sqft. Essentially in the more "unaffordable" place people is buying the land and not the house. So one strategy home owner could do is to buy low configuration setup (2/1 or 1/1) and convert it into 2/1 or 3/2.
Some guy that read my comment and implement this, I saved you half million already LOL. - This is a tremendous median income household: price ratio. I know it's Milwaukee, so it'll not get the love but this is very good still. I am pro-Madison, full disclosure and a lot of that metric is how I go after houses.
Quote from @Carlos Ptriawan:
Quote from @Marcus Auerbach:
Quote from @Carlos Ptriawan:
Quote from @Colleen F.:
@Carlos Ptriawan I don't mean to imply all illegal immigrants are working poor, some probably actual do quite well in the underground economy. For some though it is an affordable housing issue because they are stuck in the underground economy trying to support a family, sometimes with poor language skills. I have seen this in some communities I worked in. As for Section 8 being the actual poor not sure I agree many aren't working much if at all. Working without government programs supporting you those people are the actual working poor. They scrap by and are one paycheck from not making rent.
Yep, the can't buy a house crowd does need to lower the standard and be willing to go smaller or fixer upper but more "needs work homes" go to flippers because there are more flippers. Starter homes aren't what builders are building. The median home size was 1050 in 1960, now it is about 2300. You would be hard pressed to find a smaller home but of course you can change neighborhood but my guess is they prefer to rent over changing neighborhood.
I have some few comments.
- in our area there're few local gov. initiatives that the home must be sold to owner occupant rather than flipper/investor.
For example in east palo alto there're : https://www.cityofepa.org/housing/page/east-palo-alto-opport...
Although I dont think it's that effective, but literally I checked Zillow everyday, the starter houses are there, waiting to get bid.
Thing is again, for renter, they have to downgrade their standard when they purchase home. It happened to everyone. They have to stop dreaming there would be market crash for 3/1 BR to be under 800K in San Mateo LOL.
- for "illegal" immigrant, i dont think they should receive special treatment. Not hotel not housing.
Everyone does support a family, paying tax, and they may stuck to be in underground economy but it's the life that they choose anyway. Everyone can "dance" with the system. On other hand they can always reduce their cost of living by living together in multigenerational family. Also most of them as far as i know, received lot of helps from their own community and other organization as well in great number.
The way I see these housing affordability issue is like people that complaining college is expensive. What expensive ? It's expensive if one go to Stanford or private university, but if they go to State university, the cost is only $4K per semester still, it is soo cheap in any standard.
I am about to say, people that came from third world country, is irritating when see American complaining for nothing.
THe affordable house is still there, They can make good living if they live in Ohio, go to state university, elementary schol is still free. Compared to third world country where there's not much "socialism" like in the old US of A...America is still so cheappppppppppp.
Even house is here is cheap. Last time I checked Milwaukee house is still 150k. One can do dog sitting whole day and they can purchase starter home.Actually, the median home price in Milwaukee County in October was 248,600 and up 7% per MLS. The segment between 250k and 450k is the most competitive.
Right, so with loan of 200k they have to pay $1400/mo. With median income of $75k they can still easily afford the house.
House in Milwaukee ranges from $75k to $600k, it's still doable to live in this county, there's almost no affordability issue in Milwaukee.If potential buyer purchase at one grade level of their buying power, for example buying from C class to live in D class, this would trigger very quick gentrification as well.
I've seen how San Jose area progressed from 200k house to one mil in no time, it happened when people started moving to lower class neighborhood by the economic force and at no time, there's acceleration process of gentrification. - Member since 2019 · 7k+ posts · 4k+ votes2y
Quote from @Nate Marshall:
Quote from @Carlos Ptriawan:
so actual issue is not home affordability but land price , a 90k home 2/1 in gary indiana is actually way better structured than 2/1 in cupertino,CA where price is 1.5 mil. The actual intrinsic value of the house itself is only ... 80k maybe, with land price in indiana is close to zero and cupertino close to $1500/sqft. Essentially in the more "unaffordable" place people is buying the land and not the house. So one strategy home owner could do is to buy low configuration setup (2/1 or 1/1) and convert it into 2/1 or 3/2.
Some guy that read my comment and implement this, I saved you half million already LOL.Gary Indiana isn't a place a lot of people want to move to. People are wanting to get away from cities (especially crime and drug infested democrat run cities) where they can raise a family. That means 3/2/1 all day long. People want a little land and space.
This is changing slowly though. Detroit Michigan is now one of the fastest most hunted neighborhood. Gary Indiana in the past years also experiencing reduced DOM.
- Member since 2023 · 2 posts · 0 votes2y
Quote from @Account Closed:
Quote from @James Hamling:
Quote from @Account Closed:
Quote from @James Hamling:
Quote from @Account Closed:
Quote from @Dan H.:
Quote from @Account Closed:
Quote from @Dan H.:
Quote from @Account Closed:
Quote from @Henry Clark:
....Maximizing profit is exactly what the Realtors.... ...have done in a rampant fashion.... ...thats the root of the problem you speak of.
Help me to understand this, I narrowed it to just the 1, for simplicity sake.
So your saying the whole housing problem, it's agent's, agent's who represent sellers and buyer's who some way some how have created the issues at hand.
How? And vs what?
An agent, representing a seller, YES 100% the job is to work for the BEST outcome of the seller, full-stop. Getting top dollar buyers will pay with best term's buyers will give. That is the job, literally and legally.
The listing agent has 0 control what buyers will or won't do, 0. So how is it the agent's "fault"? What else are they to do? Tell a seller "nope, sorry, I won't let you sell for that much, it's not affordable enough, your going to take $50k less and LIKE IT"?
AND, on opposite side, an agent acting for buyer's IS the counter-weight. Doing everything possible to get BUYERS there best deal, lowest price, best terms. So how in the hell is a buyers agent at fault of unaffordability? There fighting to make things MORE affordable.
It's a bizarre argument that only makes sense if picture it falling out the mouth of a rampant COMMUNIST who has zero knowledge or experience of and with real estate agent's.
Is that the case here? Are you a communist just pist over any/all things "Capitalist scum"?
Because I, as an agent, and EVERY agent I know, would LOVE a WAY more "affordable" market. We make the most on VOLUME. A $50k difference doesn't mean much more $ for us, our motive is VOLUME. And a better, more affordable market, means way more volume and that directly translates into more $ for the agent.
So you couldn't be more wrong, agent's WANT a more affordable market. We want it zinging along for EVERYONE. Agent's motive is affordability not stagflation.
As soon as you used the word communist, you told me everything I need to know about you.
"An agent, representing a seller, YES 100% the job is to work for the BEST outcome of the seller, full-stop. Getting top dollar buyers will pay with best term's buyers will give."
Yep. Agreed, thats what you'll do alright. Brewing up bidding wars, highest and best, ect.
"AND, on opposite side, an agent acting for buyer's IS the counter-weight. Doing everything possible to get BUYERS there best deal, lowest price, best terms."You know better than that, and so do we. I just dropped my douchebag agent who was more focused on her 2.5% than my interests as a buyer, as of last week. The inspection came back looking like **** and she fought tooth and nail to pursuade me to stay in the deal and not pull out or ask for the credits.
So while you Realtors are motivated by commissions on both sides, with plenty of lenders you can refer your clients to to help them overpay, while you take advantage of their own greed/ignorance/desperation, and a government and central bank facilitating the whole thing for you over the last decade-
ya right, Reators had no hand in the surge of home prices vs wages across the country.
Oooorrrr did the agent fire you as a client? That feel's way more believable.
And now, fired by your agent, didn't get the deal you wanted, despite stomping you feet and pouting, I mean come right, yelled "gimmie" and and whole-9, shoulda gotten everything wanted on a silver platter right.
So now, everything is agent's fault.
Too hard to find a deal; agent's fault.
Don't have enough of down payment; agent's fault.
My bacon isn't crisp enough on the burger; agent's fault.
It burn's when I pee; agent's fault.
You just demonstrated both your ignorance and your stupidity. I'm sorry, but this is just classic Dunning-Kruger. Since you like food references, maybe this explaination will reach you- belligerent pig-headedness and low IQ go together like peanut butter and jelly.
When I finally pulled my money out of escrow on the deal last week and told the agent I'm no longer interested in working with her in the future because she does not represent my interests- drawing the conclusion you did doesn't speak well of your intellect, regardless if it was only an attempt to serve your narrative.
And like I said before, you pretty much telegraphed who you were when you made the cheap McCarthist "communist" comment.
Regardless, agents like her, and seemly you, are all factors in the equation of the housing crisis the OP has referred to. Google the word Factor and read it a few times. You seem to be struggling there as well, evidenced by your last strawman "So now, everything is agent's fault."
I'm happy to continue a back and forth on this with reasonable others- operative word being reasonable. - Member since 2023 · 2 posts · 0 votes2y
Your agent owes you only fair dealing. They are, "at law" a sub agent of the listing agent.
if you understood that yo8 would not be so upset.
- 2yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Bruce Woodruff:
To reiterate and follow up on what @Carlos Ptriawan and @Colleen F. said, there is no lack of affordable housing. There is a lack of houses that people can afford exactly where and what they want. And there always has been....not everyone can live within 30 miles of the coast.
People need to stop whining and move where they can afford a house...or get another job. Or get 2 jobs. I don't care, I'm just tired of all the whining....
YUP exactly pretty much every mid western deep south large rust belt city each have thousands of homes fore sale under 250k and most have 1k to 10k vacant homes per city.. and then you go out into the country side of rural mid west and hundreds of thousands of homes under 200k. - Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes2y
Quote from @Carlos Ptriawan:
Quote from @Marcus Auerbach:
Quote from @Carlos Ptriawan:
Quote from @Colleen F.:
@Carlos Ptriawan I don't mean to imply all illegal immigrants are working poor, some probably actual do quite well in the underground economy. For some though it is an affordable housing issue because they are stuck in the underground economy trying to support a family, sometimes with poor language skills. I have seen this in some communities I worked in. As for Section 8 being the actual poor not sure I agree many aren't working much if at all. Working without government programs supporting you those people are the actual working poor. They scrap by and are one paycheck from not making rent.
Yep, the can't buy a house crowd does need to lower the standard and be willing to go smaller or fixer upper but more "needs work homes" go to flippers because there are more flippers. Starter homes aren't what builders are building. The median home size was 1050 in 1960, now it is about 2300. You would be hard pressed to find a smaller home but of course you can change neighborhood but my guess is they prefer to rent over changing neighborhood.
I have some few comments.
- in our area there're few local gov. initiatives that the home must be sold to owner occupant rather than flipper/investor.
For example in east palo alto there're : https://www.cityofepa.org/housing/page/east-palo-alto-opport...
Although I dont think it's that effective, but literally I checked Zillow everyday, the starter houses are there, waiting to get bid.
Thing is again, for renter, they have to downgrade their standard when they purchase home. It happened to everyone. They have to stop dreaming there would be market crash for 3/1 BR to be under 800K in San Mateo LOL.
- for "illegal" immigrant, i dont think they should receive special treatment. Not hotel not housing.
Everyone does support a family, paying tax, and they may stuck to be in underground economy but it's the life that they choose anyway. Everyone can "dance" with the system. On other hand they can always reduce their cost of living by living together in multigenerational family. Also most of them as far as i know, received lot of helps from their own community and other organization as well in great number.
The way I see these housing affordability issue is like people that complaining college is expensive. What expensive ? It's expensive if one go to Stanford or private university, but if they go to State university, the cost is only $4K per semester still, it is soo cheap in any standard.
I am about to say, people that came from third world country, is irritating when see American complaining for nothing.
THe affordable house is still there, They can make good living if they live in Ohio, go to state university, elementary schol is still free. Compared to third world country where there's not much "socialism" like in the old US of A...America is still so cheappppppppppp.
Even house is here is cheap. Last time I checked Milwaukee house is still 150k. One can do dog sitting whole day and they can purchase starter home.Actually, the median home price in Milwaukee County in October was 248,600 and up 7% per MLS. The segment between 250k and 450k is the most competitive.
Right, so with loan of 200k they have to pay $1400/mo. With median income of $75k they can still easily afford the house.
House in Milwaukee ranges from $75k to $600k, it's still doable to live in this county, there's almost no affordability issue in Milwaukee.If potential buyer purchase at one grade level of their buying power, for example buying from C class to live in D class, this would trigger very quick gentrification as well.
I've seen how San Jose area progressed from 200k house to one mil in no time, it happened when people started moving to lower class neighborhood by the economic force and at no time, there's acceleration process of gentrification.Yes you are correct people complain about affordability in Milwaukee, but what they really mean is that they have to now pay over 20% of their median income and before it was only just over 10% of their median income. Housing was just so cheap here 5 to 10 years ago.
Interesting what you say about gentrification. We have such sharp outlined segregation in some areas, it will be intersting to see how these market forces will deal with that.
Many loacls have a hard time to wrap their mind arround future home price growth. While most of the country will probably slow down, Milwaukee is very likly to continue to go up in value - and at least catch up with the national average over the next 10 years. When you travel a bit you realize MKE is not a below average city, so prices should be accordingly.
- Member since 2019 · 7k+ posts · 4k+ votes2y
Quote from @Marcus Auerbach:
Quote from @Carlos Ptriawan:
Quote from @Marcus Auerbach:
Quote from @Carlos Ptriawan:
Quote from @Colleen F.:
@Carlos Ptriawan I don't mean to imply all illegal immigrants are working poor, some probably actual do quite well in the underground economy. For some though it is an affordable housing issue because they are stuck in the underground economy trying to support a family, sometimes with poor language skills. I have seen this in some communities I worked in. As for Section 8 being the actual poor not sure I agree many aren't working much if at all. Working without government programs supporting you those people are the actual working poor. They scrap by and are one paycheck from not making rent.
Yep, the can't buy a house crowd does need to lower the standard and be willing to go smaller or fixer upper but more "needs work homes" go to flippers because there are more flippers. Starter homes aren't what builders are building. The median home size was 1050 in 1960, now it is about 2300. You would be hard pressed to find a smaller home but of course you can change neighborhood but my guess is they prefer to rent over changing neighborhood.
I have some few comments.
- in our area there're few local gov. initiatives that the home must be sold to owner occupant rather than flipper/investor.
For example in east palo alto there're : https://www.cityofepa.org/housing/page/east-palo-alto-opport...
Although I dont think it's that effective, but literally I checked Zillow everyday, the starter houses are there, waiting to get bid.
Thing is again, for renter, they have to downgrade their standard when they purchase home. It happened to everyone. They have to stop dreaming there would be market crash for 3/1 BR to be under 800K in San Mateo LOL.
- for "illegal" immigrant, i dont think they should receive special treatment. Not hotel not housing.
Everyone does support a family, paying tax, and they may stuck to be in underground economy but it's the life that they choose anyway. Everyone can "dance" with the system. On other hand they can always reduce their cost of living by living together in multigenerational family. Also most of them as far as i know, received lot of helps from their own community and other organization as well in great number.
The way I see these housing affordability issue is like people that complaining college is expensive. What expensive ? It's expensive if one go to Stanford or private university, but if they go to State university, the cost is only $4K per semester still, it is soo cheap in any standard.
I am about to say, people that came from third world country, is irritating when see American complaining for nothing.
THe affordable house is still there, They can make good living if they live in Ohio, go to state university, elementary schol is still free. Compared to third world country where there's not much "socialism" like in the old US of A...America is still so cheappppppppppp.
Even house is here is cheap. Last time I checked Milwaukee house is still 150k. One can do dog sitting whole day and they can purchase starter home.Actually, the median home price in Milwaukee County in October was 248,600 and up 7% per MLS. The segment between 250k and 450k is the most competitive.
Right, so with loan of 200k they have to pay $1400/mo. With median income of $75k they can still easily afford the house.
House in Milwaukee ranges from $75k to $600k, it's still doable to live in this county, there's almost no affordability issue in Milwaukee.If potential buyer purchase at one grade level of their buying power, for example buying from C class to live in D class, this would trigger very quick gentrification as well.
I've seen how San Jose area progressed from 200k house to one mil in no time, it happened when people started moving to lower class neighborhood by the economic force and at no time, there's acceleration process of gentrification.Yes you are correct people complain about affordability in Milwaukee, but what they really mean is that they have to now pay over 20% of their median income and before it was only just over 10% of their median income. Housing was just so cheap here 5 to 10 years ago.
Interesting what you say about gentrification. We have such sharp outlined segregation in some areas, it will be intersting to see how these market forces will deal with that.
Many loacls have a hard time to wrap their mind arround future home price growth. While most of the country will probably slow down, Milwaukee is very likly to continue to go up in value - and at least catch up with the national average over the next 10 years. When you travel a bit you realize MKE is not a below average city, so prices should be accordingly.
a) If Milwaukee local complained about "20% of their median income", in CA it's perhaps like 80% of median income.
What really happened in the background and this is not easily understood by goverment and common people. The rise of home price in CA is actually happening due to massive rise of burgeoning new tech workers that has upgraded buying power. If in 2012, there're only 75k household thathave buying power of $1.2 mil by maximizing their DTI, by 2019 there're 400k household that have same buying power. Tech company is hiring so many people by factor of three to four and increasing the number of demands with much increased BP. When there's excess income, Most money goes to real estate. Almost everyone that I know is maximizing their DTI. This is why til today in some area we have 3 DOM by average. There're only three times where the real estate gone value a bit : 2009 , Q1 2020 and Q3 2022. Even covid itself is actually increasing the buying power of tech worker. People when purchasing home above 600k, they don't use income from wages as downpayment, they are cashing out from stock market.
This is why until today, why in Q4 2023 home price is still rising even interest rate is 8%. Actually 40% transaction are being executed with cash. This month is the highest record ever of RE transaction with cash.
b) gentrification and segregation is reduced and diminished when new money is coming over especially when the new BP is coming from newer generation.b) Many loacls have a hard time to wrap their mind arround future home price growth --> This happened in CA too but at the end folks has to react and has to do strong job/career so they're not being wiped out by the rising home price.
In other word, home price rising is actually good thing, it forces people to work harder and be competitive.
The one that's asking for immigrant to go perhaps they felt insecurity because their entitlement is being pushed by real estate purchaser which is mostly coming from the legal and (not so legal immigrant) that has new buying power - Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes2y
We need to start looking at what they did in the 50's. Build communities with good safe schools, infrastructure and the 3/2's families can afford as starters. Empty nesters can move into.
- 2yHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
Do you or or anyone have numbers on units pulled out for the market for STR/MTR?
Realize this is a different market than low cost housing, but it still puts pressure on the supply.
We used to do cows. Just a 5% swing in cows in the breeding herd determined the price range.
Between STR/MTR and illegal immigrants this just by itself has to be putting demand and pricing pressure on the market. - Real Estate Consultant · Evergreen, CO · Member since 2018 · 1k+ posts · 738 votes2y
STR's don't affect the majority of housing markets. That's just scare tactics of the left and activists. STR's don't exist in every market. Only those desirable for vacation and related stays.
Quote from @Account Closed:
"I have felt drawn to investing in Mobile Home Parks partially because I feel like it allows me to have an impact by providing affordable housing"
Mobile home parks do seem to draw in investors looking to make an impact. Just ask John Oliver.
Hahaha Oh Mr.Oliver...you know how he makes his money right?
I am creating housing that didn't exist in my community providing housing for 40% of the average cost here so as I continue doing that I hope you enjoy watching Mr.Oliver.
- 2yHenry ClarkPro MemberDeveloper · Member since 2020 · 4k+ posts · 4k+ votes
Quote from @Nate Marshall:
STR's don't affect the majority of housing markets. That's just scare tactics of the left and activists. STR's don't exist in every market. Only those desirable for vacation and related stays.
Do you have the answer?
- Rental Property Investor · New Braunfels, TX · Member since 2022 · 409 posts · 408 votes2yWe know people that bought a mobile home and put in a park that they have to pay lot rent. They paid $43,000 for their mobile home in 2012 and as of Dec 2022 they had paid $8,000 off leaving a $35,000 note still due on their home. That's highway robbery. When I found this out I paid off his mortgage and put him on a 10 year personal note that saves him $30,000 in interest. I would like to do this for a lot of people but the reality is that most of these mobile homes are upside down. There should be laws against letting mobile home manufacturers sell these kinds of loans to poor people! It's just wrong.
Quote from @Logan M.:
I have felt drawn to investing in Mobile Home Parks partially because I feel like it allows me to have an impact by providing affordable housing.
- Member since 2023 · 52 posts · 43 votes2y
Quote from @Brad S.:
Quote from @James Hamling:
Quote from @Account Closed:
Quote from @James Hamling:
Quote from @Account Closed:
Quote from @James Hamling:
....Brewing up bidding wars, highest and best, ect.
....inspection came back looking like ****
....Realtors are motivated by commissions.... ....government and central bank facilitating the whole thing....
...I finally pulled my money out of escrow... ....told the agent I'm no longer interested in working with her....
....you made the cheap McCarthist "communist" comment.
....agents like her, and seemly you, are all factors in the equation of the housing crisis....************************************
@Account Closed Please explain and help us understand what your objective reasoning is for blaming "realtors, lenders, and investors" for being significant part of the affordability problem?
So far, all I can gather from your posts is your bitterness toward ONE Agent who, based on your interpretation, tried to persuade you to complete a deal you ultimately decided did not suit your best interests. But, I don't see a reasonable argument to support any of your assertions.
"So far, all I can gather from your posts"
You are gathering incorrectly then.
- Member since 2023 · 52 posts · 43 votes2y
Quote from @Ivan Terrero:
@Ralph Nagle......maybe it is misguided government policy that creates more problems when they make laws that don't make sense?
They are without question the prime enablers. It's the cobra effect.
They are considering 50 year mortgages in the UK to combat their housing crisis. Anyone think that will work? perfect example
I'd like to see an eventual return of the the first-time homebuyer tax credit that we had in 2008-2010 (up to $8k). Legislation to create a new version, which would contribute up to $15,000 towards the down payment for first time home buyers, was introduced in 2021. But it has not passed in Congress. It would not have made sense to add fuel to the already overheated market of 2021, but I think it would make sense to bring the tax credit back if the market continues cooling into 2024.
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