Posted by: Fast-Orange
We're pretty fortunate. We work a lot but work is going well for both of us so life is good these days.
That's pretty good, you've made a lot of changes since you've been back.
In 5yrs time you should buy an investment property and become a slumlord.
Posted by: chupacabra
Posted by: Fast-Orange
All the motivation came from her end and I've just been along for the ride slowly being uplifted by her presence.
Damn. I need to hire you to sign my wife's birthday cards.
Posted by: syncro
Posted by: Fast-Orange
We're pretty fortunate. We work a lot but work is going well for both of us so life is good these days.
That's pretty good, you've made a lot of changes since you've been back.
In 5yrs time you should buy an investment property and become a slumlord.
Landlords are only good for amuptations above the neck. I work for my money and provide a needed service and would rather do that than exploit people like a human parasite.
Posted by: Fast-Orange
Landlords are only good for amuptations above the neck. I work for my money and provide a needed service and would rather do that than exploit people like a human parasite.
Landlords also have to usually work to get the money to buy their first place and take on the risk of losing it all. Landlords sometimes even have to put up with shitty tenants who destroy the home and refuse to leave, costing them significant financial hardship. Landlords also provide a needed service of renting out homes for people need to live in. It cuts both ways, and the rental crisis isn't all at the feet of landlords.
Posted by: syncro
Posted by: Fast-Orange
Landlords are only good for amuptations above the neck. I work for my money and provide a needed service and would rather do that than exploit people like a human parasite.
Landlords also have to usually work to get the money to buy their first place and take on the risk of losing it all. Landlords sometimes even have to put up with shitty tenants who destroy the home and refuse to leave, costing them significant financial hardship. Landlords also provide a needed service of renting out homes for people need to live in. It cuts both ways, and the rental crisis isn't all at the feet of landlords.
Landlords provide a service like people who buy all the concert tickets or PS5s provide a service and are only required in such numbers now due to the government completely stepping back from owning any rental properties in the late '90s /turn of the millenium.
The reason I hate landlords so much is they showed their true colours during the interest rate spike. Rents across the country doubled while the actual sticker price of units went down. Why did they get away with it? Because for most of them it's just expected that they can just get a minimum down payment loan on a unit and have someone else pay for every cost asspciated with it and you end up a millionaire in 25 years.
Fuck that, if that was your plan you can literally die and rot in hell. There are some specific situations in which people can erhically charge others a regular fee for housing but in this day and age that's increasingly rare. It's mostly just wealth redistribution from the poor to the rich.
If everybody was more interested in doing something useful, living in their own fucking property and paying their own fucking mortgage we wouldn't be in half the mess we're in.
🙄
If you want to rent an apartment or basement suite or condo or trailer or whatever you can live in, who you gonna rent it from?
Posted by: Fast-Orange
Landlords provide a service like people who buy all the concert tickets or PS5s provide a service and are only required in such numbers now due to the government completely stepping back from owning any rental properties in the late '90s /turn of the millenium.
The reason I hate landlords so much is they showed their true colours during the interest rate spike. Rents across the country doubled while the actual sticker price of units went down. Why did they get away with it? Because for most of them it's just expected that they can just get a minimum down payment loan on a unit and have someone else pay for every cost asspciated with it and you end up a millionaire in 25 years.
Fuck that, if that was your plan you can literally die and rot in hell. There are some specific situations in which people can erhically charge others a regular fee for housing but in this day and age that's increasingly rare. It's mostly just wealth redistribution from the poor to the rich.
If everybody was more interested in doing something useful, living in their own fucking property and paying their own fucking mortgage we wouldn't be in half the mess we're in.
Not sure where you're getting some of this info from but you might want to check your sources. The housing situation is far more complex than what you're making it out to be.
Posted by: Fast-Orange
Posted by: syncro
Posted by: Fast-Orange
Landlords are only good for amuptations above the neck. I work for my money and provide a needed service and would rather do that than exploit people like a human parasite.
Landlords also have to usually work to get the money to buy their first place and take on the risk of losing it all. Landlords sometimes even have to put up with shitty tenants who destroy the home and refuse to leave, costing them significant financial hardship. Landlords also provide a needed service of renting out homes for people need to live in. It cuts both ways, and the rental crisis isn't all at the feet of landlords.
Landlords provide a service like people who buy all the concert tickets or PS5s provide a service and are only required in such numbers now due to the government completely stepping back from owning any rental properties in the late '90s /turn of the millenium.
The reason I hate landlords so much is they showed their true colours during the interest rate spike. Rents across the country doubled while the actual sticker price of units went down. Why did they get away with it? Because for most of them it's just expected that they can just get a minimum down payment loan on a unit and have someone else pay for every cost asspciated with it and you end up a millionaire in 25 years.
Fuck that, if that was your plan you can literally die and rot in hell. There are some specific situations in which people can erhically charge others a regular fee for housing but in this day and age that's increasingly rare. It's mostly just wealth redistribution from the poor to the rich.
If everybody was more interested in doing something useful, living in their own fucking property and paying their own fucking mortgage we wouldn't be in half the mess we're in.
A strange understanding of RE ^^ and the world in general
Most RE in Canada is privately owned, the LL rents it out for a return on investment so he wants to make $$$$ on the RE he owns, the renter rents that RE cuz thats what he can afford or maybe he doesn't want to own, in any case its a simple Quid pro quo " something for something"
But renting out RE does not pay enough to have people rushing to invest their money in RE, I think the last rental RE building boom in Vangroovy was in the 60's, so the development of new rental building has lagged while the population has greatly increased to the point the people got nowhere to live, so the LL can ask whatever rent and he gets it cuz supply & demand and he probably needs to cuz all his costs are up and this is not going to change any time soon but rent could go down if enough RE gets built becuz its all market driven, I've had to drop a rent but that was >20 yrs ago
note that without the evil LL its really hard to rent somewhere to live
I get what FO is saying and while I don't think LLs are evil they did play a role in the skyrocketing rents.
Long story long...
When I was a kid looking to rent a place I would always rent directly from the person that owned the place and I always signed the standard one year lease that is widely available from the government. These people were usually older. In the 2000's property values took off and the home flipper trend picked up speed which lead to a lot of younger landlords using a HELOC to buy a 2nd investment property to flip or to rent. My wife was doing her masters in the late 2000's and UBC was getting anything we could save so we still rented. What I noticed was that a lot of the new landlords were using agents like Century 21 to manage the rentals, so now you were way more likely to deal with an agent rather than the owner.
This was the start of the fixed term lease scam because the agencies were far more ruthless than the old school LLs that you knew by name. This meant that the LLs could jack the rent to whatever they wanted at the end of the year and the tenancy act restrictions on rental increases could be ignored. It also meant the LL could boot the tenant at the end of the lease for any reason they chose, so it was pay me or GTFO. For us that meant scrambling at the end of every lease as though we were finding a new place all over again because the fuckers always wanted to renegotiate. Since moving is expensive and stressful they always had me by the balls. They would force us to agree to the new price 2 months before the end of the lease so we couldn't really find a new place before making a decision. Renting became like musical chairs and nobody was cruising along with a secure lease and rent controls anymore. My last landlord jacked my rent from 1800 to 2250 because the market was hot. This was after moving to Squamish and I had already moved my family once because the previous LL also used Century 21 with a fixed term lease. He kicked us out so he could move into the place.
It was like musical chairs and every time you sat down it cost more. In the 4 years that I rented in Squamish my rent went from $1400 to $2250 and I liked the first place much more. If I had the standard open ended lease with the first place (which I thought I had when I signed it) I would have only been paying about $1550 by the end of those 4 years. Between the extra rent and moving expenses that probably cost me 10 grand. The government apparently fixed this loophole, but I think that this played a big role in the rapid increases.
The LLs back in the day were not as leveraged, they knew me, and the tenancy act meant I was secure where I lived and how much I would have to pay. The newer LLs ran it more like a business and were more than happy to make piles of cash by jacking rents until people moved. They didn't have to do the dirty work. My last landlord had purchased the house at least 5 years before we moved in and I assume they were paying it off with the $1800 we paid them if not less. The extra $450 was greed plain and simple. I am convinced that this practice increased rents across the province.
Renting out RE is 1/4 business, 3/4 investment. At the end of the day the business has no value other than the property. Both businesses and investments can lose money, but I have seen landlords bitch and moan that their "business" is losing money if the rent isn't completely covering their mortgages, taxes, etc, even though their asset was appreciating very nicely at the same time. If the incentive to become a landlord was in the monthly revenue like it is with most businesses nobody would ever become one. They all want the asset.
Posted by: Fast-Orange
Posted by: syncro
Posted by: Fast-Orange
Landlords are only good for amuptations above the neck. I work for my money and provide a needed service and would rather do that than exploit people like a human parasite.
Landlords also have to usually work to get the money to buy their first place and take on the risk of losing it all. Landlords sometimes even have to put up with shitty tenants who destroy the home and refuse to leave, costing them significant financial hardship. Landlords also provide a needed service of renting out homes for people need to live in. It cuts both ways, and the rental crisis isn't all at the feet of landlords.
Landlords provide a service like people who buy all the concert tickets or PS5s provide a service and are only required in such numbers now due to the government completely stepping back from owning any rental properties in the late '90s /turn of the millenium.
The reason I hate landlords so much is they showed their true colours during the interest rate spike. Rents across the country doubled while the actual sticker price of units went down. Why did they get away with it? Because for most of them it's just expected that they can just get a minimum down payment loan on a unit and have someone else pay for every cost asspciated with it and you end up a millionaire in 25 years.
Fuck that, if that was your plan you can literally die and rot in hell. There are some specific situations in which people can erhically charge others a regular fee for housing but in this day and age that's increasingly rare. It's mostly just wealth redistribution from the poor to the rich.
If everybody was more interested in doing something useful, living in their own fucking property and paying their own fucking mortgage we wouldn't be in half the mess we're in.
You realize that living where you do, wherever that is, is a privilege and not a right? That means if it is too expensive, move. Someone else is going to gladly pay what you cannot afford to be there. You forget (and I don't agree with this but that is the way it is) but you have competition from WORLD WIDE interest to be in Vancouver, or whatever in the PNW. If you can't afford it, too bad. I would love to live in NV, where I grew up for 30 years but I can't afford it and moved to where I could. I still ride there, and yes, I would move back if I could, but I am under no illusion that I am going to expect to have prices come down or whatever. I will have to pay the going rate or not have it.
Get over it. It is not going to get any better and Vancouver, in particular, is turning into the new Monaco. Get use to it. I don't like it or agree with it but that is life.
But...but...the government should do something
Housing has always depended on the private sector or should it be up to the government ?
my buddy fresh off the plane from Russia made a crack about apartment blocks, lots of apartment blocks
also he got a draft notice but he isn't going back
Posted by: XXX_er
Housing has always depended on the private sector or should it be up to the government ?
my buddy fresh off the plane from Russia made a crack about apartment blocks, lots of apartment blocks
also he got a draft notice but he isn't going back
Why are you making it a binary choice?
The private sector will maximize towards profit, which is part of the reason we have the problem we have currently.
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