The one more reason why capitalism doesn't work

Most property management companies, especially the small ones, are really leveraged.

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

THINK ABOUT THE BANKS AND THE FEDS AND HOLLYWOOD AND THE MUSIC INDUSTRY AND THE PORN INDUSTRY

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

yes, because it's really simple and not hard to figure out. the house was built in 1960, probably at a cost of maximum $100k. it now would sell at $400k. they increased the rent by 18% while property taxes have not changed. they have not updated or repaired anything and the house is still a piece of shit old house.
they've been renting it out for a very long time. gee i wonder if its paid off or not and they're just exploiting their position because they can.

Fuck poors

You can kill him now, you faggot

>while property taxes have not changed.
You realize it's getting taxed at the current value?

Look at all that shit you have in your home and you still can't pay rent.

Also
>YOU CANT JUST OWN THINGS!?!
lol Shoo commie

OH SAY CAN YOU SEE

You think property tax is 100,000? I fucking pay pennies to that and I live in prime Hawaii housing area.

Fucking moron.

oh no they have to pay $2640 in taxes once a year when they earn $2980 per month from their tenants. 7% effective tax rate, I wish I could get a rate that low.

Your anthem is shit why can't you choose a more powerful one

we need to be flexible or we all die num nuts.

You're either laying or property tax in Hawaii is fucked up. Also didn't say it was 100k in taxes, stupid nigger.

>pay $2640 in taxes once a year
>400k home
wut

>t. Coofer

i don't live in california

great, lazy nigs get another break

Thats because the virus is mostly bogus fearmongering while eviction is a real issue

Me either. that's a hilariously low rate

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You wouldn't know you poor fag. Average property tax is 1600.

this is a very reasonable rate

I can pay my rent for the next 12 months. Does nobody live within their means?

If they need it they should be able to get mortgage relief too

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>Average
Good job retard. You don't appear to be knowledgeable enough to discuss this topic.

Paying under 3k on a 400k house? That's a fucking steal. I'd kill for that.

You mean under 1,000,000? Its 1.6 or 1.7 last time I checked. Over 1m its 4-6.

That sounds like some advanced kikery there. Oh well.

Lmao wut? Do you think rates in your neighborhood apply across the country??

Ok boomer. Hope you didn't catch my Corona-Chan at the grocery store. You die, I don't.

>using resources you don’t pay for while others who are willing to pay demand them
>uhhh das kapital no workieee
FREE HOUSES 4 EVERYONE!!!!1

Poor cope

Bro you are legit retarded. None of the assumptions have any basis in reality.
Just the price In 2018, the relative values of $100,000.00 from 1960 ranges from $664,000.00 to $3,790,000.00.
Also you understand that you pay taxes on rental income, and maintanace is not 0, also check your local laws and taxes regarding real estate rentals

She has a decent body. I bet she could make extra money on the side. If you know what I mean

Feels good being a NEET at times like this.

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Ay shit nigga let me live here fo free nawm sayin

>(((rent)))

Everyone would cry if they had to live with the cost of living we have here. Everyone from the states bitch and moan when they swing by here. I only noticed the similar costs in major cities like NY, SF and SEA.

80k/yr is considered barely middle class here.

I'm not poor but getting yourself out of a financial rut isn't as easy as you might think.
Especially when the people around you are also poor and unreliable.
Been there myself was stuck for a few years and problem after problem kept arising

>while property taxes have not changed

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>WUT U MEAN CAN JUS LIVE HERE
>DAS RAYSIS

>spergs out about cost of living
lol what? Take your meds. You're all over the place

squatter's rights nigga

>isn't as easy as you might think.
So one said it was easy

How not poor are you? Do you have like students debts?

They're at risk of being evicted because companies are shutting down services due to dipshits like you. Fear-mongering is the problem, not evictions or the virus.

Anybody who relies on rent payments to stay above water on other mortgaged properties deserves to lose all of their money.

>YOU CANT JUST OWN THINGS REEEEEEEEEEEEEEEEE

Go to work or get infected (and not be able to pay for treatment)? Tough choice

I'll be honest, if generation after generation we insist on allowing the weak to live and reproduce we will need social nets in order to maintain any sort of balance.

Capitalism only works with a strong society, there is no fucking way it works when the weaklings(whom would normally die in the last 99.999% of history) are allowed to reproduce on multi generational scale

If there is no safety net, chaos will erupt and we will start at a more basic level than anybody even the most elite are prepared for

How long can you stay holed up for? Any contact with anybody could kill you oldfag
#ByeByeBoomer

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Big cities are insane cost-wise due to three decades of inflating the money supply, in the UK house prices have been increasing 10% every year while wages only 2-4%, times that by 10 years & that equals a huge increase in the cost of living.... plus countless shitskins coming in pushing wages down!

It all equals a complete economic collapse at some point.

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Well at least you are not speaking german.

I'm 6 shots in I love you.

I feel Renting/foreign buyers/banks in general/(((analysts))) jack the price up for houses to the point where they make it more profitable to rent a home than to spend the amount needed to afford one.

And there are too much fucking people. What do you think? I wanna talk I am tired from corona.

Lol I'm licking cart handles at Costco nigger. Suck my Big Boomer Cock

>DEBT BAD
>LEVERAGE BAD

stay poor

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>1960
>$100,000
Try $10k tops.

There is no balace, if you have safety net the scum breeds, chaos and collapse is coming. You are just luck and live in an powerful country with world currency. Nothin' lasts forever
And we both know hearts can change

Housing prices are certainly a bit elevated. Will be interesting to see how the market dip affects it.
>And there are too much fucking people.
There are, the concentration of people in cities amplifies the issue. Rural living is great if you can find a job that will allow it.

>LEVERAGE BAD

Well you should need at least 30% down on a buy-to-let mortgage/loan. & 20-25% for a normal mortgage.

Sure you are boomer
#ByeByeBoomer

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Fucking this, you only own shit you can defend in the apocalypse

Im not even sure I want to be in America for the collapse

The herd mentality here is really, really bad

>. & 20-25% for a normal mortgage.
Not true. They started doing 3% down, not just fha loans either.

My biggest concern.

I'm already on a private lease (no estate agent) with a dodgy landlord that has already indicated that they won't refund our bond. We have about 6 weeks left on the lease and are just beginning to apply for new rentals as Australia begins to enter peak-period of corona growth.
Also a broke wagie that will probably be laid off due to decrease in demand.

Perfect storm of absolutely fucked but at lease I have toilet paper.

The place I have now was 250 in 94 and now just because of the square feet of land (not even the home) is 750. It is fucking retarded. What's worse? The other place I inherited was bought post ww2 for 25k and it is now 1.2 for the land. It is fucking shameful. Now a family that lived there for generations can be bought out by some China dumping his zenny into US market to save it from china's fluctuating currency.

There honestly should be some way for local people in any state to get tax workarounds over foreign buyers, but money talks.

>caring about slimlord kikes

Private landlords are okay, but (((real estate companies))) are pure socialism in a capitalist dress

Hahahahahaha. That's cute. 20% down is only a thing because of mortgage insurance. Most banks are happy to take 3-5%.

I am so sorry. You guys should have revolted.

No, they "SHOULD" make it the minimum equipment.

>There should be no variable rates, only fixed lifetime rates. (fixed 5%)
>There should be a minimum of 20% down on all loans & mortgages.
>Maximum amount you can borrow should be 3x your yearly salary.

Do those simple things & you fixed the housing & world economy.

>Be American.
>Get sick.
>Can't pay rent
>Landlord calls sheriff
>Shot for blinking threateningly.

>No, they "SHOULD" make it the minimum equipment.
Oh, why? 20% is the major hurdle for people

>capitalism doesn't work
It clearly does work, faggot. The question is are the downsides worth tolerating, or should something be done to mitigate them.

Literally how do you get evicted? Don't you get squatters rights for like half a year? Are you not able to pay anything in 6 months?

>247602915
>Be American.
>Get sick.
>Can't pay rent
>Landlord calls sheriff
>>Shot for coofing threateningly.

I can't wait until I get to give people like you a few approximately 7mm new orifices

You don't even have to get sick. Just lose your wagie job due to economic repercussions. The panic from this is going to be far more detrimental to people than the virus

>Don't you get squatters rights for like half a year
What cuck hole do you live in where you can't remove people trespassing on your property illegally?