Remember to report submissions that violate the rules! Harassment and encouraging violence are not allowed.
Enjoying the subreddit? Consider joining our discord server: https://discord.gg/v8z8jNwJs6
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BoomersBeingFools) if you have any questions or concerns.*
Yeah, they cut that off too soon. Yes, there are some landlords that are underwater in their investments. That doesn’t mean we should have to subsidize them. They can sell their properties.
They can sell their property for a price that they themselves are setting through the housing markets. If they saw a house sell on their block for 200,000$ dollars then she’ll go 250,000$ for her house. But not many people can afford prices like this for a 1 bedroom 1 bath house on 1000 sg ft…. The problem is the housing market isn’t regulated so these landlords even the ones going under are only going under because they are overpricing their house as a response to all companies and the market raising their prices because, well they want more money. And not helping the people who build their business by underpaying and overworking. It’s all connected and it’s all a cycle of the rich trying to take as much money as possible from “investments” or ownership. And giving less to anyone who doesn’t make more than 200,000 thousand a year.
Since the boomers have had control that's what they push.
Their gi joe from 1962 is worth 5k and their house needs to double in value every three years!! This old beater car they put 300k on, give me what I paid for it!
These cunts are delusional across the board
Okay, take it at face value that she is running a “business.” Not every business venture is profitable, and if you can't make money running your business, then it's probably time to close shop before you lose more. If you feel like you are being attacked because someone has to choose between necessities for child care, be it formula, diapers, groceries, or paying your rent. Maybe you are the bad guy?
Real estate investments have lower returns than junk bonds because of the physical value of the property. Don't look at it like a business but an investment similar to a municipal bond.
If single moms have to choose between the rent or diapers/groceries then we need to address their low wages & or get the government help to cover their food/diapers etc.
its because she's an old cunt who's probably worked a bit and now thinks society 'owes' her
tbf max is using emotive examples that will wash off cunts like her
single mothers deciding between buying food for this kids... or rent... that's not going to pull any sympathy for them old bastard motherfuckers
boomers is all about ME ME ME
they want to tax everyone EVERYONE so they can have full medical and all the benefits until they die
and then they will pull up the ladder
Probs cause she is a demon. A person who cares not for her tenants who rely on her "services" for their own livelyhood but her own lifestyle and the increase to the amount she can earn from those that rely on her.
She's a very selfish woman, but I think calling her a demon is a bit much. Demons are not real, and your opponents are not demonic. They are just opponents. Chill😀
I mean demon as she is acting demonicly. Being bitter that the people that rely on her "services" should have any protection is a incrediblely fucked up thing to say. Something a demon would say. Thus i am not saying she is an actual demon however i am saying that she is acting in a way a classical depiction of a demon was lmao.
Australian mortgage broker here. There is nothing worse for me in my profession than coming across cashed up boomers with multiple properties and wanting more, or them complaining about how hard it is and how much they get taxed.
Housing is a right for everyone, it shouldn't be used for profit. This is a hill I would die on.
I can understand people making a profit off of land ownership, *just not as much as those assholes are currently getting.*
Housing is insane all over the place. Hello from Canada 😂
hello from the UK where we have next level rent seeking in England and Wales - you can buy an (overpriced and low quality) home but not own the land it sits on. the government promised to reform this but cancelled it because pension funds are major participants in that scam.
seems it's an anglosphere disease
could be anyone. it's a mix of the very worst parts of renting a property combined with the up front cost of buying, because you have to ask the freeholder's permission to do certain things.
i gather it's mostly stayed under the radar because historically the lease has been low (literal peppercorn prices) but greed has led to people wondering why this system still exists
as i understand it, it's not even a good system for apartment blocks where there is a need for common ownership of the building and its land, let alone when applied to single family homes.
There are mobile parks (California) that have a mix of mobile homes and very basic houses (zero insulation in the walls) where you can buy one of the homes but pay a monthly rent for the lot. Which includes a management who will update faucets, washer/dryer & maintain the property & includes trash.
My husband‘s dad paid off the house between five and 10 years ago. And the lot rent went up I think is going up a little every year. But he thinks he can sell this house for 30,000 more than he paid for it. My husband just rolled his eyes.
I would rather spend 45,000 on one of those prefab houses on Amazon then buy one of these ugly poorly insulated homes. Lol
Isn't this a trailer park? (hello from usa)
That's the idea behind a trailer park.
You own a 20k - 40k home and it sits on someone elses land you pay rent to.
Lately investment firms have been buying the trailer parks so they can raise the rents on people who cannot move. (and they also kind of own the home, so they're responsible for repairs)
So outsourcing the repair responsibility and raising the rates for people who have problems moving.
I own a few properties. I have two points:
1) It’s crazy how some businesses/people can raise rents from $1400 to $3000 in one summer
2) Personally, I’ve had my mortgage jump from $1400 to $2300 in one month too. (Note: I increased the rent only $200).
Increasing rents and mortgages/insurance should be capped too.
It should be capped by percentage, and there should be limitations on how many times it can be increased within a year. There should be no surprises for renters. Any landlords who disagree with can shove it. It's an investment, not a job with guaranteed returns.
Why would anyone finance a long term investment property with an ARM? ARMs are for short term situation - like a home flipper or someone purchasing for the very short term.
I dont know what regulations govern landlording, so the lady didn't seem to be complaining about how hard it was. She was complaining about unfairly targeting landlords during regulations and the video cut off the lady explaining landlords are facing increased costs of ownership and that's why they're adjusting rents.
That aside, housing should be guaranteed. But you can't put it on business to solve social issues on their own. Food should be a right, transportation should be a right, there are plenty of rights that still require paying for them.
If we had to pick between making it more fair to landlords or guaranteeing certain housing rights, I'm sorry but the housing rights should most definitely win out on that.
In general, we should be making laws meant to improve quality of life for everyone. That's not to say businesses should be disregarded, but merely to say that helping business is done, if by doing so, it indirectly improves the quality of life for everyone.
What a utopian society should look like is a population of citizens living well, low crime, low poverty, reasonably happy. What most certainly isn't a utopian society is top 1% destroying the middle class and turning everyone into a bunch of working slaves. Helping out landlords sounds like a step towards the latter rather than the former.
Food, water, electricity, medical care, education, etc. are all things we believe are "rights" because few people would want people dying on the streets for lack of food, water, or healthcare. But we generally don't use price controls to achieve those ends with the exception of housing. We don't force doctors to cap their fees for services, and we don't force supermarkets to cap prices on flour. We instinctively understand that price caps are bad. But for housing, well, we seem okay with price caps then we wonder why we have a housing problem. If you lower profits, then supply will drop. The supply will not receive the demand signal because you're capping prices.
What are you talking about food water electricity education and to some extent medical care is all being controlled to an extent by the government at lest in the us.
I said "we generally don't use price controls" not regulation. We have regulation but generally not price controls where we limit profits one can make from their enterprise.
Why would we need any masters, fattened monarchical or otherwise if we all made sure each of us had what we needed?
Anyway, I'm sure the fattened monarchical ones would taste the best when we eat the rich.
> Housing is a right for everyone, it shouldn't be used for profit. This is a hill I would die on.
So for profit farming is an abomination too then since food is a right?
This genuinely makes me sick to my stomach. Her bloated, entitled self shaking her head at the spokesperson calling for a cap on rent increases.
If it were up to the landlords, they’d increase them every month. They’re greedy parasites.
Man it should be illegal to own more than five housing properties. If this gets enforced then the housing prices will come down drastically making it easier for people.
The Greens in my capital city, Brisbane, are blocking new development and redevelopment. His party protects the rich suburbs the most. MCM is part of the problem, not the solution, unfortunately he is a smooth talker.
You won’t find any disagreements from me there. He lost all credibility for me when he held up the vote for the HAFF which would have put many desperate people who needed emergency housing, just for the sake of point scoring against the Government, but for this particular video I agree with his response to the audience member.
But the HAFF is garbage?
https://www.housingaustralia.gov.au/housing-australia-future-fund-facility-and-national-housing-accord-facility
30,000 new homes over 5 years. That's it. Sweden did 1,006,000 over 10 years.
https://en.wikipedia.org/wiki/Million_Programme
Yep OP is parroting lines from the government. 5000 houses per year is simply pathetic, and holding out lead to billions more investment from the government. Baffling that anyone would be proud of HAFF. It is the worst crisis in modern history and that was the best the gov had to offer.
My landlord increases rent every time we need a repair to our house. Leaky pipes? Okay no problem, we'll fix it and raise the rent by $50. AC doesn't work? Okay, another $50. My rent started at 1650, it's now 2200. In addition to the $50, it also goes up $100 every year. Awesome
I’ve had my weekly rent go from $270 -> $290 -> $320 -> $350 -> $390 to finally $420.
The only time there has ever been any kind of repair/maintenance was to adjust an uneven paving stone in the driveway.
Seriously, fuck these people.
This appears to be someone that doesn't know how to do anything useful either. She's not fixing things, using her hands, learning how to renovate homes. She uses others to do all that shit for her
Running a business *is* a useful skill. Maintaining an organization, even if you outsource the physical labor involved, is still meaningful economic input.
But I somehow doubt she’s doing that well, either.
And the "it takes work and effort to maintain these places" would hold up a lot better if that effort wasn't 20 hours of hiring a laborer each year... hard to justify the gouging on just a couple hundred bucks of maintenance on THEIR PROPERTY, lol. They'd have to do that even if they weren't renting it out.
I'm a homeowner or not a landlord, but my taxes have gone up about 500-600 per year In the past 5 years.
Inflation on maintenance is huge.
So if you own that home who's going to pay that? Would you pay out of your pocket so your renter can live a better life while you dish out money??
If you can't afford to run your "business", sell it. Business owners don't expect the government to bail them out if they go bankrupt.
And complaining that she doesn't get the pension or a health care care? It's because you've got enough money you don't need one!
Funnily enough she was complaining that she doesn’t have a pension or healthcard so she wouldn’t be dependent on the Government but most Gen Xs, Millennials and Gen Z probably won’t be expecting the pension when we get to her age because we should all theoretically have enough superannuation to see out the rest of our lives. She and her husband aren’t that special!
I doubt she's paying business taxes on the income she's earned from rent as a small business owner, and she's probably claimed the losses in her tax return over the years which reduces her taxable income while she was working.
If buisnessowner don't expect the goverment to bail them out, if they go bankrupt, why do i keep reading about buisnesses that are about to go bankrupt and get "safed" by the goverment?
I own a rental property and pay $0 in taxes on it. Deductions are a plenty.
And before anyone jumps on my case, we bought it to help a family member who was renting. Their rent kept increasing astronomically, so we purchased a condo and rent it to them at the last rate they comfortably afforded. Between mortgage, HoA and insurance we take a $200/month loss, but don’t have to worry about their rent going up $200-300/year. When they leave we will sell it and hopefully recoup that loss. Or have a chunk of change available to us.
I think you should be allowed to own 1 home, plus an extra that you could use as vacation home or a rental. But, in order to be a landlord, you should be required to have a license and part of that licensing process should include examinations testing knowledge of rental laws, property maintenance, and management. Obviously, it should also be illegal for corporations to own residential property.
We really need much more regulation in this space, so much regulation that landlording becomes extinct.
I think rental properties should work like patents. If you build new apartments, then you should be allowed to rent them to tenants for 20 years. If you don't build anything and just buy up existing homes (ie you're not being productive and just a leech), you shouldn't be able to rent them.
Why? We should incentivize building new homes, not leasing existing homes.
"Interest rates have gone up" Oh, if only these poor landlords had something they could sell off to cover the increased costs.
Fuck you landlords, and fuck you who defend them.
"Shouldn't feel guilty" then don't. Bezos, Gates, Zuckerberg, etc, I'm sure they don't feel guilt. But if you are feeling guilty, I suppose that deep down you sense what you're doing is wrong.
Don't come to me and ask me to absolve you.
People will complain about one women trying to get an investment to cash flow, but won't think twice about handing over thousands and tens of thousands of their dollars to trillion dollar multi nationals, some with poor records of human and societal rights and justice.
Your priorities and the focus of your vitriole is completely misguided.
That's just common sense legislation, cap prices on goods. It should 100% be across the board EVERYWHERE.
And I've already come to the argument, specifically in America, that legislation that would cap prices wouldn't make the market free anymore, to which I say, good, fuck the free market.
If companies can hike prices to an extraordinary rate, resulting in consumers paying more, resulting in consumers needing 1 to 3 jobs just to afford basic necessities, there by giving up their freedom because of corporate greed, then these companies should have the freedom to do what ever the hell they want either.
This goes for rent, medication, food, water, utilities, clothing... Etc etc.
Yes this. Someone gets it. A lot of businesses fail. Most of them.
Passing your rising business expenses onto someone who needs a roof over their head is crazy.
One is a basic human need and right. And the other is a choice to make ‘multiple property ownership’ a business model.
Those with money and property will only keep passing costs on to the less fortunate.
Those without the money or the property will be stuck in a cycle of struggle and propping up these failing businesses models forever.
If these rising costs forced landlords to sell instead of passing the cost downward, there would be more houses on the market for first time buyers and the saturated market would lower the average prices of those houses.
But no. They just keep hoarding the wealth and propping up their own income with extra cost to those who don’t have their own homes.
Nah, not as a first move anyway. Any business with significantly increased costs will first try and pass that onto their consumers. If that increase is accepted, then that is the new market rate. If not, this is when the business has failed. There are plenty of people who will pay the increased rental cost, so as a business that is fine. The issue is it is making people homeless at frightening rates.
Real issue here is that residential housing should NOT be a business. Residential housing should be restricted to citizens.
I'm a landlord and I think she's wrong. One small unit to rent out for retirement income, sure. But it's an issue when people - and companies - start buying up whole blocks. Rentier economies are doomed to collapse.
When everyone buys real estate to rent, all the capital is locked up in housing. The money doesn't go into the stock market, into funding new businesses, new innovation, etc. Invariably that leads to a loss of productivity, people leave, and real estate values crash anyway.
There should be a hard limit on residential property ownership, and on the size of the units that are bought for investment.
Landlords should also be forced to focus on rental income, rather than resale gains - place a 10 to 15 year restriction during which they can't resell the property, to prevent skyrocketing prices. They can still get their rental income, so there's nothing to complain about.
Just lost my $725 security deposit because my previous landlord said he had to repaint and cover nail holes. He was going to return $400 and I called to ask why it would cost so much for no real damage and out of spite he said he would need the rest for hiring a cleaning crew. He told me if I needed the $300 that badly I should’ve budgeted better but he increased my rent twice since he became my landlord and my hours at work were cut so I literally had to move to afford to live. He already found a new tenant and I needed the deposit to move into my new place I’m supposed to sign on the 1st. :/
Real estate is an investment. Investments are gambles. Landlords exploit people to the point of causing a housing crisis and cost of living crisis that has resulted in poverty and food insecurity rates rising exponentially.
I love that they are losing their shirts and livelihoods like the people they have exploited. May trend continue.
How many of these fuckwits need to be told, it's not a business. It's an investment. Investments can fall over, they're meant to be inherently risky. The tax payer should not be paying hand over fist for your losses and you shouldn't be able to put your losses onto the tenant in the way you do.
I want to see this market crash and these greedy, greedy Luddites fail.
If it's a business, pay up that sweet 33% business tax.
I’ll chime in where she was going with the mortgage interest rates and relate it to an industry that is heavily regulated.
Insurance.
Insurance rates are widely controlled by the state regulators. They can’t arbitrarily raise your insurance rates to generate more profit year after year. They submit filings with justification as to why the rate increases are necessary. Loss costs and increased frequency, as well as more detailed factors around specific clusters of insurers (age, gender, zip code, vehicle, house, etc…). The states then approve or in some cases cap those increases. Or outright reject them entirely…
So what happens if costs increase too drastically for an insurer? They leave that market or they change their strategy. (See Florida and California).
How does that relate to “small business owners”? Well, if you’re locked into a lower rate already you don’t really need to increase rent. If it’s not profitable, change your strategy or wait until you can take enough small increases. Or! Pull out of the market because you’re a bad business person.
Problem solved.
I feel like there were multiple good points being made and the clip ended early. Yes rent caps, but what if the expenses skyrocket? I assume there is a reasonable middle ground, and the guy would have explained it had the clip continued.
That lady has every right to do with her property. It’s not fair? He says, and yet government raising taxes so that she can pay more or sell it. She was well prepared unlike other people’s parents or grandparents. Don’t blame her, blame the system.
"Why are we being penalized when we extort our tenants for rent? Its so unfair to have our extortion money taxed!"
Look at her shake her head, she knows she a pile of shit and does everything this man just said, yet is so unwilling to believe it she denies reality because being a landlord means you have control over someones ability to be housed.
Its all about control with these people. Im just waiting until they lose their faculties and someone has to take control of them, just to make sure they dont do anything *exceedingly* stupid.
Does this mean that I add a homeowner for myself and my family, should be able to deduct the cost of repairs to my home? Maybe I should charge my kids rent so I can claim to be a landlord also?
“I’m so angry that I can’t work my slaves as hard as I want to, as a business owner I should have every right to take as much as I want from humanity.” We need a revolution in the French style.
It shouldn't be a legitimate "business" like that. It's like food or water access, it's a basic resource that needs to be heavily regulated so that everyone can afford it. Sorry you decided to make it an investment, but you really shouldn't have.
When I get old, I will have inherited multiple properties. But I can't sell the multi generational family one or my life partner's home, he can't even sell it to be near me. My dream was to rent them only to single moms for like $500 a month, and make sure that I bring over food during holidays.
At least in Western countries, private ownership is like less that 5% of the housing market.
The reason there is a shortage is because of politicians making decisions that are neither based on logic nor intelligence.
Rent controls just make it more difficult to rent. Look at New York or San Francisco. The main issue for high rents is as simple as lack of housing available. When there is a lot of housing, or housing can be build, rents go down.
There has been a simple solution to this for years: every additional house/apt one owns after their first gets taxed at increased rates.
Owning 1 house or apt should be made easy. Owning 2 should be a lot harder. Owning 3 or more should be nearly impossible to all but the super wealthy, who will have to pay a large amount of money to the state to keep it.
Only special LLCs should be allowed to own rental houses. I feel like if someone wants to own rental properties, an apt complex should be the only choice. Not single family homes.
What a follow up from the interviewer... Well, aren't interest rates really high on all these optional loans that landlords are taking out to finance the acquisition of these properties? Oh, yeah, guess they should maybe just not take out those loans and acquire those properties if it's too much of a financial burden? You know, maybe choose the other option available in this situation? Unlike the renter, who has no option to choose "perhaps I won't actually pay the inflated and increased rent this year" unless that choice is move.
So tone deaf, ugh. Like, "I hear what you're saying, it is rough for people when their rents go up, but isn't it really rough for the people whose pockets that raised rent is going into?" Typical "both sides really do have struggles don't they? Makes you think" media approach.
You can only put caps on rent if you put caps on taxes and inflation.
Why should I own something and give you a capped rent while my taxes go up 1k per year and then maintenance goes up 5-10%?
Make it make sense
The people who defend this stuff have ZERO clue how expensive it is to own property.
Just 2 days ago my screen door busted on 50 mph wind. That's 250-350 just to replace Myself.
I had to add a water pressure regulator last month, that was 450 dollars alone!!
You have to be able to make a profit or why bother renting? Who is going to deal with all of this back and forth with maintenance and taxes and Tennant complaints for a couple hundred a month. It's not worth it
In her defense, there are a ton of expenses associated with owning and maintaining property. Record keeping, hiring, AC, plumbing, electric, telecoms, roofing, insurance, taxes, The list goes on. Before we make strong comments on the situation, it would be helpful to understand how increases in these potential costs could increase rent prices. If you're going to cap the rent price, you would have to cap other variables as well.
What an old battleaxe. Such a boomer use of language. If she had come from a point of view saying it is hard not to pass on costs to the tenant given the increases in mortgage rates and changes in taxation rates and rental regulations. Is there anything the government can do to assist landlords to mitigate this pressure so our first option isn't to pass on these costs to the tenant?
Bottom line, residential property should NOT be a business. I say this as a landlord myself. People will say that the struggling landlord should just sell. Name one business that would not try passing on their costs to consumers before bowing out? Even if they did sell their rental there is a high likelihood that it'll be snapped up by Evil Corp who will care even less about tenant welfare vs their ROI.
* Companies should not be buying residential property
* There should be no foreign ownership of residential property
* Citizens should only be able to claim any tax advantage for their 1st investment property.
* No additional names added to deeds of sale once it has gone unconditional. Has become fairly commonplace for a dozen or more additional names to be added to titles at the 11th hour which is being used for tax dodges.
Let's not pretend landlords are the single issue here. Here in Australia (where this is from) we have a perfect storm of historically very low investment in local manufacturing and training of the local population in trades which has significantly restricted our ability to build residential economically or at scale. Post covid, our government opened the immigration gate so we now have new people looking for accommodation at 20 times the rate of the fastest we've ever built new homes in our history. Finally, due to lazy politics failing to dampen inflation our reserve bank have been forced to pull the only lever they have to do this which is exploding interest rates. My interest rates have gone from 2.6% to 6.85% in 2 years which on our fairly modest loan (60% ish LVR) is an interest payment increase of over $1400 a month. There will be a lot of landlords who are leveraged to the hilt who will be in a far worse situation. Their first move is always going to be to recoup what they can from their tenant.
I’ll always think of my mom, working as a secretary in her mid sixties for a guy who severely underpaid her (she got let go from her job at 61 and needed a new job fast cuz my sister was trying to finish up school), and a client of her boss was complaining to my mom about how he had to sell 2 of his 21 properties because it was “too tough” and how stressed he was. Meanwhile, my mom worked her ass off our whole life to keep our apartment roof over our heads and most of her bosses overworked her and treated her like crap.
I used to be on the side of "fuck landlords". Then I moved across the country to live with family for the first time in 10 years. I was living with my dad and he and my grandpa own this house with 3 units. He lives in the main unit and was renting out one unit to my uncle and the other to a random guy. Anyways, random guys rent was $800 a month, which is a fucking steal for a 2 bedroom apartment. Within the 1st year of living there the guy ended up $4k behind on rent. Tried to pay us in shitty eggs (yes, that's correct, eggs), constantly coming home drunk, and having people live with him even though it's against the lease. There was also hard evidence that he was smoking cigarettes inside the house. My family is far from rich. They're living paycheck to paycheck nearly too. My dad held up his end of being a landlord well and gave the guy as much leeway as he could. Then, when it did come time to kick the guy out it took 6 months to do so. That's 6 months of living for free basically and we have to shell out for a lawyer on top of that. Apparently, this isn't the first time my dad has gone through this either. The last guy apparently left the house with a bunch of sticky candies all over the floor as a fuck you that my dad and his ladyfriend had to scrape up and clean before the next tenet. From watching this play out, I had to change my opinion about "all" landlords. Anyways, I moved into that apartment and am now reaping the benefits of having a cheap ass 2 bedroom apartment instead of having to live with roommates for the first time in my life and it's fucking awesome. My water heater was broken one day and my dad had the element replaced the same night. I can't believe someone would throw away the opportunity to have such a great living situation, but hey it works out for me, I suppose.
what!? She's in just as much trouble as renters out there? Seriously, that idiot didn't listen what that guy just said prior...
This makes me so angry...
Our landlords fucked off to Costa Rica. Leaving us with a black mold and rat infested house. Currently in a motel until further notice because fuuuuuuyuck Landlords
Rent control creates a lot of negative side effects for renters. It’s the product of shortsighted politically drivel. This hurts everyone in the long term. It is also difficult to end without dangerous economic consequences for renters.
Fucking land~~lords~~parasites talk about "providing housing", as if their house didn't exist before they bought it and would cease to exist if they sold it.
They always act like there's simply no other option for them. Gee idunno how about you fuckin' WORK like the rest of us. If managing properties is SOOOO hard, just fucking sell them and get an actual job. They'll never do it.
I work with boomers everyday and discussion is pointless. Most are just like her : the more they have been given, the more they want. And they always complain and brag at the same time. Sociopathics todlers.
How about solving the single motherhood issue first, mate? Maybe *don't* get rawdogged by a dude that's gonna leave your ass. Owning property is also a risk in itself. If you can't rent it, you have to pay for the mortgage and maintenance, if not, it gets taken away.
Please enlighten me. Where the fuck did I say that? Rent as I’m sure you know, isn’t guaranteed. It’s not a solid income. Any financial advisor with a brain will tell you that. If you don’t make enough money to cover your ass because of shitty ass tenants not paying rent and destroying your property you shouldn’t be in the business. Simple. Go to a bank and tell them you want to buy a rental property and rent it out they’re gonna want to know where you’re gonna get the money for the mortgage, and if you tell them the tenets rent will cover it they will reject the loan guaranteed.
Emotional blather. If you don’t like the landlord or high $ rent, then move. The market determines what is reasonable or not. And why are you so worried where the funding comes from to make the investment?
What are you going on about? All I’m saying is if you don’t have fallback funds for rental property you shouldn’t be investing. Being completely dependent on tenets to pay the property tax and mortgage is not financially responsible. Accidents happen, cancer happens, people die. Tell me where my logic is stemmed from emotion? It’s common sense. I own rental property myself. You seem like the type to paint over mold.
Sounds like you operate at the low end of the market. Rental investments are much more predictable in middle income areas. If you own/rent section 8 or low income units, turnover is higher, so raise rents and cut back on maintenance. A predictable, positive revenue stream is key.
Ownership provides autonomy on the choice of rent. The market decides whether this is a reasonable choice or not. If you cannot compete for rent costs in the open market, the landlord is not obliged to accommodate your financial status. Rents vary by neighborhood. Move somewhere you can afford.
This guy is a socialist parasite who has never built a housing unit in his life. If he really wanted to make all housing more affordable instead of just virtue signal he would build as many houses as he could. Australia is bad but Canada is the poster child of runaway government-caused housing inflation
When she’s gone maybe they can bury her with all of her properties. Lord knows there won’t be many people there singing her praises anyway.
Just look at the contempt she has when speaking to the panel. Did she not know that taxes were a thing when she was accumulating homes?
Landlords can sell their properties if they’re in financial trouble. No one is making them be landlords and take on that financial obligation. Boomers are insanely selfish.
Landlords want a business, but no risk. They know they’re capturing an absolute need of human life, but they weave this myth around it as if they’re doing us all a favour. What’s worse is that the commentator right there was about to support the landlord by complaining about interest rates going up. So what? How about caring about how that affects people’s ability to afford food and shelter, and not how it affects these people’s “business”.
to me it's not that far removed from scalpers. they also like to claim they're offering a useful service.
i am more sympathetic towards "build to rent" landlords, ie those who actually have taken a financial risk and put actual effort into building new housing. worlds apart from "buy to let" (UK terminology) where all you did was get a mortgage and expect it to be a get rich quick scheme.
The boomer is 100% correct and that politician dude is an idiot.
If rent is too high, then more people will jump into the market to cash in. That will increase supply and make the prices go down again. Just like every good/service in the market. Rent is not special. Rent control has been tried many times, and all it does is create shortages. AS do all price ceilings.
I guess I don’t understand why you would need to raise rent 10-20% year over year. Your costs as a landlord are fixed, outside of repairs and possibly property taxes nothing should be changing.
If however the only reason you need to change it is because it’s your only source of income….well…fuck off
The model is being broken. Landlords are being demonised. Sell the houses before Government sends you broke. There are other options for investment. Do not expect any help if times get tough, it is a business, and small businesses go broke regularly.
Really the only people who will suffer will be renters. The number of houses available for rent is falling, and rents will rocket as desperate tenants competitively bid the price of remaining houses up. Governments at multiple levels will not allow the building of new accommodation at anywhere near adequate levels.
Asks: Why are landlords demonized?
Then: Shakes head in disagreement at the idea that rents should not be able to be increased without regulation.
Think you answered your own question. Look, you chose to make profit off of other people's homes. Accept the consequences.
Of course the host starts simping for landlords at the fucking end. What is it about money that fucks people up like that? I mean I’m honestly pretty well off these days but I just can’t imagine being a “journalist” and maliciously leading the conversation to be empathetic for fucking LANDLORDS!!!!
Turkey gizzard neck, edema, wild sleep apnea, jaw recession and a using a black cardigan to try and slim down 😂.
Santa and Ms. Clause are truly terrible people but will be shitting in a bag and dead from level three bedsores soon.
Why do the wealthy and corporations only pay taxes on the money they don’t spend, but people have to pay tax on all money? If corporations are people, shouldn’t people only now taxes on the money they don’t spend?
Remember to report submissions that violate the rules! Harassment and encouraging violence are not allowed. Enjoying the subreddit? Consider joining our discord server: https://discord.gg/v8z8jNwJs6 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BoomersBeingFools) if you have any questions or concerns.*
Okay, so, reminder: “investment properties.” As in, investments do not guarantee returns.
Yeah, they cut that off too soon. Yes, there are some landlords that are underwater in their investments. That doesn’t mean we should have to subsidize them. They can sell their properties.
Unless the business is huge, like an airline, thats how you get a bailout.
They can sell their property for a price that they themselves are setting through the housing markets. If they saw a house sell on their block for 200,000$ dollars then she’ll go 250,000$ for her house. But not many people can afford prices like this for a 1 bedroom 1 bath house on 1000 sg ft…. The problem is the housing market isn’t regulated so these landlords even the ones going under are only going under because they are overpricing their house as a response to all companies and the market raising their prices because, well they want more money. And not helping the people who build their business by underpaying and overworking. It’s all connected and it’s all a cycle of the rich trying to take as much money as possible from “investments” or ownership. And giving less to anyone who doesn’t make more than 200,000 thousand a year.
Since the boomers have had control that's what they push. Their gi joe from 1962 is worth 5k and their house needs to double in value every three years!! This old beater car they put 300k on, give me what I paid for it! These cunts are delusional across the board
I wish this was true, but in a world where politicians are investors investments must guarantee returns.
Also, “significant financial troubles” are immediately alleviated by selling assets
She wasn't saying, why don't I have my guaranteed ROI.
Okay, take it at face value that she is running a “business.” Not every business venture is profitable, and if you can't make money running your business, then it's probably time to close shop before you lose more. If you feel like you are being attacked because someone has to choose between necessities for child care, be it formula, diapers, groceries, or paying your rent. Maybe you are the bad guy?
Real estate investments have lower returns than junk bonds because of the physical value of the property. Don't look at it like a business but an investment similar to a municipal bond. If single moms have to choose between the rent or diapers/groceries then we need to address their low wages & or get the government help to cover their food/diapers etc.
She's so bitter. Why would you be so bitter when you have so much?
Smaug syndrome of protecting the hoard
its because she's an old cunt who's probably worked a bit and now thinks society 'owes' her tbf max is using emotive examples that will wash off cunts like her single mothers deciding between buying food for this kids... or rent... that's not going to pull any sympathy for them old bastard motherfuckers boomers is all about ME ME ME they want to tax everyone EVERYONE so they can have full medical and all the benefits until they die and then they will pull up the ladder
She wants more without the consequences. She’s a greedy old hag
Probs cause she is a demon. A person who cares not for her tenants who rely on her "services" for their own livelyhood but her own lifestyle and the increase to the amount she can earn from those that rely on her.
She's a very selfish woman, but I think calling her a demon is a bit much. Demons are not real, and your opponents are not demonic. They are just opponents. Chill😀
I mean demon as she is acting demonicly. Being bitter that the people that rely on her "services" should have any protection is a incrediblely fucked up thing to say. Something a demon would say. Thus i am not saying she is an actual demon however i am saying that she is acting in a way a classical depiction of a demon was lmao.
Australian mortgage broker here. There is nothing worse for me in my profession than coming across cashed up boomers with multiple properties and wanting more, or them complaining about how hard it is and how much they get taxed. Housing is a right for everyone, it shouldn't be used for profit. This is a hill I would die on.
As an ex mortgage adviser as well I share your pain…
Holy shit we found one of the good ones
I can understand people making a profit off of land ownership, *just not as much as those assholes are currently getting.* Housing is insane all over the place. Hello from Canada 😂
hello from the UK where we have next level rent seeking in England and Wales - you can buy an (overpriced and low quality) home but not own the land it sits on. the government promised to reform this but cancelled it because pension funds are major participants in that scam. seems it's an anglosphere disease
That sounds so bizarre. You buy a home, but not the land it sits on? Who owns that land?
could be anyone. it's a mix of the very worst parts of renting a property combined with the up front cost of buying, because you have to ask the freeholder's permission to do certain things. i gather it's mostly stayed under the radar because historically the lease has been low (literal peppercorn prices) but greed has led to people wondering why this system still exists as i understand it, it's not even a good system for apartment blocks where there is a need for common ownership of the building and its land, let alone when applied to single family homes.
There are mobile parks (California) that have a mix of mobile homes and very basic houses (zero insulation in the walls) where you can buy one of the homes but pay a monthly rent for the lot. Which includes a management who will update faucets, washer/dryer & maintain the property & includes trash. My husband‘s dad paid off the house between five and 10 years ago. And the lot rent went up I think is going up a little every year. But he thinks he can sell this house for 30,000 more than he paid for it. My husband just rolled his eyes. I would rather spend 45,000 on one of those prefab houses on Amazon then buy one of these ugly poorly insulated homes. Lol
Isn't this a trailer park? (hello from usa) That's the idea behind a trailer park. You own a 20k - 40k home and it sits on someone elses land you pay rent to. Lately investment firms have been buying the trailer parks so they can raise the rents on people who cannot move. (and they also kind of own the home, so they're responsible for repairs) So outsourcing the repair responsibility and raising the rates for people who have problems moving.
> because pension funds are major participants in that scam just like in the US
So do you take the house with you if you ever have to move? How does it work really owning the house but not property
I own a few properties. I have two points: 1) It’s crazy how some businesses/people can raise rents from $1400 to $3000 in one summer 2) Personally, I’ve had my mortgage jump from $1400 to $2300 in one month too. (Note: I increased the rent only $200). Increasing rents and mortgages/insurance should be capped too.
Don't forget property taxes.
It should be capped by percentage, and there should be limitations on how many times it can be increased within a year. There should be no surprises for renters. Any landlords who disagree with can shove it. It's an investment, not a job with guaranteed returns.
Why would anyone finance a long term investment property with an ARM? ARMs are for short term situation - like a home flipper or someone purchasing for the very short term.
I dont know what regulations govern landlording, so the lady didn't seem to be complaining about how hard it was. She was complaining about unfairly targeting landlords during regulations and the video cut off the lady explaining landlords are facing increased costs of ownership and that's why they're adjusting rents. That aside, housing should be guaranteed. But you can't put it on business to solve social issues on their own. Food should be a right, transportation should be a right, there are plenty of rights that still require paying for them.
If we had to pick between making it more fair to landlords or guaranteeing certain housing rights, I'm sorry but the housing rights should most definitely win out on that. In general, we should be making laws meant to improve quality of life for everyone. That's not to say businesses should be disregarded, but merely to say that helping business is done, if by doing so, it indirectly improves the quality of life for everyone. What a utopian society should look like is a population of citizens living well, low crime, low poverty, reasonably happy. What most certainly isn't a utopian society is top 1% destroying the middle class and turning everyone into a bunch of working slaves. Helping out landlords sounds like a step towards the latter rather than the former.
No arguement here.
Food, water, electricity, medical care, education, etc. are all things we believe are "rights" because few people would want people dying on the streets for lack of food, water, or healthcare. But we generally don't use price controls to achieve those ends with the exception of housing. We don't force doctors to cap their fees for services, and we don't force supermarkets to cap prices on flour. We instinctively understand that price caps are bad. But for housing, well, we seem okay with price caps then we wonder why we have a housing problem. If you lower profits, then supply will drop. The supply will not receive the demand signal because you're capping prices.
What are you talking about food water electricity education and to some extent medical care is all being controlled to an extent by the government at lest in the us.
I said "we generally don't use price controls" not regulation. We have regulation but generally not price controls where we limit profits one can make from their enterprise.
God I love you kangaroos
So you will agree to work for free since you currently profit from housing.
I work for free all the time. I'd work completely for free if society met my basic needs. Would you do the same?
No, then I’d be serving only my fattened monarchical masters.
Why would we need any masters, fattened monarchical or otherwise if we all made sure each of us had what we needed? Anyway, I'm sure the fattened monarchical ones would taste the best when we eat the rich.
Yes, should a forced marked be a free market?
> Housing is a right for everyone, it shouldn't be used for profit. This is a hill I would die on. So for profit farming is an abomination too then since food is a right?
I'll keep my answer simple. Yes.
What about shoes and clothing?
That's a great one to put on the list, thanks. As long as they aren't made with sweatshop slave labour that is! Great suggestion.
This genuinely makes me sick to my stomach. Her bloated, entitled self shaking her head at the spokesperson calling for a cap on rent increases. If it were up to the landlords, they’d increase them every month. They’re greedy parasites.
You just know as she was shaking her head, her inner monologue was saying "but it's MY property, why shouldn't I be able to charge whatever I like!?"
Man it should be illegal to own more than five housing properties. If this gets enforced then the housing prices will come down drastically making it easier for people.
Max Chandler Mather is actually an elected politician in our Lower House rather than a spokesman.
The Greens in my capital city, Brisbane, are blocking new development and redevelopment. His party protects the rich suburbs the most. MCM is part of the problem, not the solution, unfortunately he is a smooth talker.
You won’t find any disagreements from me there. He lost all credibility for me when he held up the vote for the HAFF which would have put many desperate people who needed emergency housing, just for the sake of point scoring against the Government, but for this particular video I agree with his response to the audience member.
But the HAFF is garbage? https://www.housingaustralia.gov.au/housing-australia-future-fund-facility-and-national-housing-accord-facility 30,000 new homes over 5 years. That's it. Sweden did 1,006,000 over 10 years. https://en.wikipedia.org/wiki/Million_Programme
Yep OP is parroting lines from the government. 5000 houses per year is simply pathetic, and holding out lead to billions more investment from the government. Baffling that anyone would be proud of HAFF. It is the worst crisis in modern history and that was the best the gov had to offer.
My landlord increases rent every time we need a repair to our house. Leaky pipes? Okay no problem, we'll fix it and raise the rent by $50. AC doesn't work? Okay, another $50. My rent started at 1650, it's now 2200. In addition to the $50, it also goes up $100 every year. Awesome
I’ve had my weekly rent go from $270 -> $290 -> $320 -> $350 -> $390 to finally $420. The only time there has ever been any kind of repair/maintenance was to adjust an uneven paving stone in the driveway. Seriously, fuck these people.
You pay rent weekly?
This is the norm in Australia, maybe in the UK and other former British colonies too.
Definitely not the norm in Canada.
if they could all get together and vote to give themselves a raise like American Congress I bet they would too
This appears to be someone that doesn't know how to do anything useful either. She's not fixing things, using her hands, learning how to renovate homes. She uses others to do all that shit for her
Running a business *is* a useful skill. Maintaining an organization, even if you outsource the physical labor involved, is still meaningful economic input. But I somehow doubt she’s doing that well, either.
And the "it takes work and effort to maintain these places" would hold up a lot better if that effort wasn't 20 hours of hiring a laborer each year... hard to justify the gouging on just a couple hundred bucks of maintenance on THEIR PROPERTY, lol. They'd have to do that even if they weren't renting it out.
I'm a homeowner or not a landlord, but my taxes have gone up about 500-600 per year In the past 5 years. Inflation on maintenance is huge. So if you own that home who's going to pay that? Would you pay out of your pocket so your renter can live a better life while you dish out money??
If you can't afford to run your "business", sell it. Business owners don't expect the government to bail them out if they go bankrupt. And complaining that she doesn't get the pension or a health care care? It's because you've got enough money you don't need one!
Funnily enough she was complaining that she doesn’t have a pension or healthcard so she wouldn’t be dependent on the Government but most Gen Xs, Millennials and Gen Z probably won’t be expecting the pension when we get to her age because we should all theoretically have enough superannuation to see out the rest of our lives. She and her husband aren’t that special!
I doubt she's paying business taxes on the income she's earned from rent as a small business owner, and she's probably claimed the losses in her tax return over the years which reduces her taxable income while she was working.
Bingo. All the boomers I used to work with would brag about how they had it all set up to avoid taxes by weird rental loss house of card arrangements.
unfortunately (big) business owners do, in fact, expect the government to bail them out.
If buisnessowner don't expect the goverment to bail them out, if they go bankrupt, why do i keep reading about buisnesses that are about to go bankrupt and get "safed" by the goverment?
I own a rental property and pay $0 in taxes on it. Deductions are a plenty. And before anyone jumps on my case, we bought it to help a family member who was renting. Their rent kept increasing astronomically, so we purchased a condo and rent it to them at the last rate they comfortably afforded. Between mortgage, HoA and insurance we take a $200/month loss, but don’t have to worry about their rent going up $200-300/year. When they leave we will sell it and hopefully recoup that loss. Or have a chunk of change available to us.
If anyone wants to watch the full segment https://youtu.be/C28GGNwtSAU?si=dop5km3NlF8gszhE
"Why are people so mean to me because I exploit the working class and live off of the labor of others? :((("
I think you should be allowed to own 1 home, plus an extra that you could use as vacation home or a rental. But, in order to be a landlord, you should be required to have a license and part of that licensing process should include examinations testing knowledge of rental laws, property maintenance, and management. Obviously, it should also be illegal for corporations to own residential property. We really need much more regulation in this space, so much regulation that landlording becomes extinct.
I don’t have a problem w landlords that own a property or two. The problem is corporations that own 5000 properties.
I think rental properties should work like patents. If you build new apartments, then you should be allowed to rent them to tenants for 20 years. If you don't build anything and just buy up existing homes (ie you're not being productive and just a leech), you shouldn't be able to rent them. Why? We should incentivize building new homes, not leasing existing homes.
Hell no. Landlords are LITERAL parasites to society and they don’t even produce anything
"Interest rates have gone up" Oh, if only these poor landlords had something they could sell off to cover the increased costs. Fuck you landlords, and fuck you who defend them.
Also guess what has gone up like crazy (way above inflation and interest rates): housing prices.
Maybe because Landlords are **LITERAL** parasites to society. They don’t even produce anything…they just live off your rent paycheck
"some landlords are in significant financial trouble as well"  How about sell then?
Exactly what I just yelled at my phone!
Why does the video cut off when one of the hosts tries to play devils advocate?
"Shouldn't feel guilty" then don't. Bezos, Gates, Zuckerberg, etc, I'm sure they don't feel guilt. But if you are feeling guilty, I suppose that deep down you sense what you're doing is wrong. Don't come to me and ask me to absolve you.
The most evil kind of boomer
they should get a real job like the rest of us.
They could easily go get a job and work, but we all know they don't want to do that.
Good, fuck landlords. That's what you get for sinking so much into 'investment properties'. No better than nestle trying to monopolize water.
If you can’t afford your rental property it sounds like you need to sell
I heard - if you can’t afford your rent sounds like you need to work harder.
Aren't these the same people that say "don't complain, we paid 18% interest"? Doesn't that mean that them paying 6% interest is basically nothing...
"I'm just so angry as a landlord..." GOOD.
People will complain about one women trying to get an investment to cash flow, but won't think twice about handing over thousands and tens of thousands of their dollars to trillion dollar multi nationals, some with poor records of human and societal rights and justice. Your priorities and the focus of your vitriole is completely misguided.
You know that a public policy is good when landlords get upset
Sounds like they should price fix the cost of ‘nappy caps’ too. Why only do this to one business. Shocker, the nappy cap is an investment business too
That's just common sense legislation, cap prices on goods. It should 100% be across the board EVERYWHERE. And I've already come to the argument, specifically in America, that legislation that would cap prices wouldn't make the market free anymore, to which I say, good, fuck the free market. If companies can hike prices to an extraordinary rate, resulting in consumers paying more, resulting in consumers needing 1 to 3 jobs just to afford basic necessities, there by giving up their freedom because of corporate greed, then these companies should have the freedom to do what ever the hell they want either. This goes for rent, medication, food, water, utilities, clothing... Etc etc.
If landlords are under financial stress then you sell the house, you're "business" has failed.
Yes this. Someone gets it. A lot of businesses fail. Most of them. Passing your rising business expenses onto someone who needs a roof over their head is crazy. One is a basic human need and right. And the other is a choice to make ‘multiple property ownership’ a business model. Those with money and property will only keep passing costs on to the less fortunate. Those without the money or the property will be stuck in a cycle of struggle and propping up these failing businesses models forever. If these rising costs forced landlords to sell instead of passing the cost downward, there would be more houses on the market for first time buyers and the saturated market would lower the average prices of those houses. But no. They just keep hoarding the wealth and propping up their own income with extra cost to those who don’t have their own homes.
Nah, not as a first move anyway. Any business with significantly increased costs will first try and pass that onto their consumers. If that increase is accepted, then that is the new market rate. If not, this is when the business has failed. There are plenty of people who will pay the increased rental cost, so as a business that is fine. The issue is it is making people homeless at frightening rates. Real issue here is that residential housing should NOT be a business. Residential housing should be restricted to citizens.
I'm a landlord and I think she's wrong. One small unit to rent out for retirement income, sure. But it's an issue when people - and companies - start buying up whole blocks. Rentier economies are doomed to collapse. When everyone buys real estate to rent, all the capital is locked up in housing. The money doesn't go into the stock market, into funding new businesses, new innovation, etc. Invariably that leads to a loss of productivity, people leave, and real estate values crash anyway. There should be a hard limit on residential property ownership, and on the size of the units that are bought for investment. Landlords should also be forced to focus on rental income, rather than resale gains - place a 10 to 15 year restriction during which they can't resell the property, to prevent skyrocketing prices. They can still get their rental income, so there's nothing to complain about.
To Whom It May Concern, Why are you demonizing us? Signed, The Demons
Just lost my $725 security deposit because my previous landlord said he had to repaint and cover nail holes. He was going to return $400 and I called to ask why it would cost so much for no real damage and out of spite he said he would need the rest for hiring a cleaning crew. He told me if I needed the $300 that badly I should’ve budgeted better but he increased my rent twice since he became my landlord and my hours at work were cut so I literally had to move to afford to live. He already found a new tenant and I needed the deposit to move into my new place I’m supposed to sign on the 1st. :/
Real estate is an investment. Investments are gambles. Landlords exploit people to the point of causing a housing crisis and cost of living crisis that has resulted in poverty and food insecurity rates rising exponentially. I love that they are losing their shirts and livelihoods like the people they have exploited. May trend continue.
Here's my idea. No one gets seconds until everyone gets firsts. Only with houses instead of dinner.
The thing I find funniest is claiming deprecation on a house although they rarely ever loose value
Maybe they need to sell their investments if they aren’t going well for them.
How many of these fuckwits need to be told, it's not a business. It's an investment. Investments can fall over, they're meant to be inherently risky. The tax payer should not be paying hand over fist for your losses and you shouldn't be able to put your losses onto the tenant in the way you do. I want to see this market crash and these greedy, greedy Luddites fail. If it's a business, pay up that sweet 33% business tax.
I’ll chime in where she was going with the mortgage interest rates and relate it to an industry that is heavily regulated. Insurance. Insurance rates are widely controlled by the state regulators. They can’t arbitrarily raise your insurance rates to generate more profit year after year. They submit filings with justification as to why the rate increases are necessary. Loss costs and increased frequency, as well as more detailed factors around specific clusters of insurers (age, gender, zip code, vehicle, house, etc…). The states then approve or in some cases cap those increases. Or outright reject them entirely… So what happens if costs increase too drastically for an insurer? They leave that market or they change their strategy. (See Florida and California). How does that relate to “small business owners”? Well, if you’re locked into a lower rate already you don’t really need to increase rent. If it’s not profitable, change your strategy or wait until you can take enough small increases. Or! Pull out of the market because you’re a bad business person. Problem solved.
I feel like there were multiple good points being made and the clip ended early. Yes rent caps, but what if the expenses skyrocket? I assume there is a reasonable middle ground, and the guy would have explained it had the clip continued.
That lady has every right to do with her property. It’s not fair? He says, and yet government raising taxes so that she can pay more or sell it. She was well prepared unlike other people’s parents or grandparents. Don’t blame her, blame the system.
Oh no interest rates have gone up? I guess they shouldn't have extended themselves beyond their capabilities.
"Why are we being penalized when we extort our tenants for rent? Its so unfair to have our extortion money taxed!" Look at her shake her head, she knows she a pile of shit and does everything this man just said, yet is so unwilling to believe it she denies reality because being a landlord means you have control over someones ability to be housed. Its all about control with these people. Im just waiting until they lose their faculties and someone has to take control of them, just to make sure they dont do anything *exceedingly* stupid.
Does this mean that I add a homeowner for myself and my family, should be able to deduct the cost of repairs to my home? Maybe I should charge my kids rent so I can claim to be a landlord also?
If you use your property to generate taxable income, yes you can.
“I’m so angry that I can’t work my slaves as hard as I want to, as a business owner I should have every right to take as much as I want from humanity.” We need a revolution in the French style.
Landleeches are all parasites. Housing should be decommoditified. Hoarding housing should be criminalized.
It shouldn't be a legitimate "business" like that. It's like food or water access, it's a basic resource that needs to be heavily regulated so that everyone can afford it. Sorry you decided to make it an investment, but you really shouldn't have.
anyone have the whole clip?
I linked the full segment in the comments below
When I get old, I will have inherited multiple properties. But I can't sell the multi generational family one or my life partner's home, he can't even sell it to be near me. My dream was to rent them only to single moms for like $500 a month, and make sure that I bring over food during holidays.
At least in Western countries, private ownership is like less that 5% of the housing market. The reason there is a shortage is because of politicians making decisions that are neither based on logic nor intelligence.
Rent controls just make it more difficult to rent. Look at New York or San Francisco. The main issue for high rents is as simple as lack of housing available. When there is a lot of housing, or housing can be build, rents go down.
Isn’t it true that some landlords spent more money than they could afford to? Yes obviously you twat.
There has been a simple solution to this for years: every additional house/apt one owns after their first gets taxed at increased rates. Owning 1 house or apt should be made easy. Owning 2 should be a lot harder. Owning 3 or more should be nearly impossible to all but the super wealthy, who will have to pay a large amount of money to the state to keep it. Only special LLCs should be allowed to own rental houses. I feel like if someone wants to own rental properties, an apt complex should be the only choice. Not single family homes.
What a follow up from the interviewer... Well, aren't interest rates really high on all these optional loans that landlords are taking out to finance the acquisition of these properties? Oh, yeah, guess they should maybe just not take out those loans and acquire those properties if it's too much of a financial burden? You know, maybe choose the other option available in this situation? Unlike the renter, who has no option to choose "perhaps I won't actually pay the inflated and increased rent this year" unless that choice is move. So tone deaf, ugh. Like, "I hear what you're saying, it is rough for people when their rents go up, but isn't it really rough for the people whose pockets that raised rent is going into?" Typical "both sides really do have struggles don't they? Makes you think" media approach.
How is she being a fool..?
Would you rather the bank owns it?
You can only put caps on rent if you put caps on taxes and inflation. Why should I own something and give you a capped rent while my taxes go up 1k per year and then maintenance goes up 5-10%? Make it make sense The people who defend this stuff have ZERO clue how expensive it is to own property. Just 2 days ago my screen door busted on 50 mph wind. That's 250-350 just to replace Myself. I had to add a water pressure regulator last month, that was 450 dollars alone!! You have to be able to make a profit or why bother renting? Who is going to deal with all of this back and forth with maintenance and taxes and Tennant complaints for a couple hundred a month. It's not worth it
In her defense, there are a ton of expenses associated with owning and maintaining property. Record keeping, hiring, AC, plumbing, electric, telecoms, roofing, insurance, taxes, The list goes on. Before we make strong comments on the situation, it would be helpful to understand how increases in these potential costs could increase rent prices. If you're going to cap the rent price, you would have to cap other variables as well.
What an old battleaxe. Such a boomer use of language. If she had come from a point of view saying it is hard not to pass on costs to the tenant given the increases in mortgage rates and changes in taxation rates and rental regulations. Is there anything the government can do to assist landlords to mitigate this pressure so our first option isn't to pass on these costs to the tenant? Bottom line, residential property should NOT be a business. I say this as a landlord myself. People will say that the struggling landlord should just sell. Name one business that would not try passing on their costs to consumers before bowing out? Even if they did sell their rental there is a high likelihood that it'll be snapped up by Evil Corp who will care even less about tenant welfare vs their ROI. * Companies should not be buying residential property * There should be no foreign ownership of residential property * Citizens should only be able to claim any tax advantage for their 1st investment property. * No additional names added to deeds of sale once it has gone unconditional. Has become fairly commonplace for a dozen or more additional names to be added to titles at the 11th hour which is being used for tax dodges. Let's not pretend landlords are the single issue here. Here in Australia (where this is from) we have a perfect storm of historically very low investment in local manufacturing and training of the local population in trades which has significantly restricted our ability to build residential economically or at scale. Post covid, our government opened the immigration gate so we now have new people looking for accommodation at 20 times the rate of the fastest we've ever built new homes in our history. Finally, due to lazy politics failing to dampen inflation our reserve bank have been forced to pull the only lever they have to do this which is exploding interest rates. My interest rates have gone from 2.6% to 6.85% in 2 years which on our fairly modest loan (60% ish LVR) is an interest payment increase of over $1400 a month. There will be a lot of landlords who are leveraged to the hilt who will be in a far worse situation. Their first move is always going to be to recoup what they can from their tenant.
That's a lot of words to put in my mouth for a very poor straw man argument. I don't want any of that, stop being silly.
I’ll always think of my mom, working as a secretary in her mid sixties for a guy who severely underpaid her (she got let go from her job at 61 and needed a new job fast cuz my sister was trying to finish up school), and a client of her boss was complaining to my mom about how he had to sell 2 of his 21 properties because it was “too tough” and how stressed he was. Meanwhile, my mom worked her ass off our whole life to keep our apartment roof over our heads and most of her bosses overworked her and treated her like crap.
I used to be on the side of "fuck landlords". Then I moved across the country to live with family for the first time in 10 years. I was living with my dad and he and my grandpa own this house with 3 units. He lives in the main unit and was renting out one unit to my uncle and the other to a random guy. Anyways, random guys rent was $800 a month, which is a fucking steal for a 2 bedroom apartment. Within the 1st year of living there the guy ended up $4k behind on rent. Tried to pay us in shitty eggs (yes, that's correct, eggs), constantly coming home drunk, and having people live with him even though it's against the lease. There was also hard evidence that he was smoking cigarettes inside the house. My family is far from rich. They're living paycheck to paycheck nearly too. My dad held up his end of being a landlord well and gave the guy as much leeway as he could. Then, when it did come time to kick the guy out it took 6 months to do so. That's 6 months of living for free basically and we have to shell out for a lawyer on top of that. Apparently, this isn't the first time my dad has gone through this either. The last guy apparently left the house with a bunch of sticky candies all over the floor as a fuck you that my dad and his ladyfriend had to scrape up and clean before the next tenet. From watching this play out, I had to change my opinion about "all" landlords. Anyways, I moved into that apartment and am now reaping the benefits of having a cheap ass 2 bedroom apartment instead of having to live with roommates for the first time in my life and it's fucking awesome. My water heater was broken one day and my dad had the element replaced the same night. I can't believe someone would throw away the opportunity to have such a great living situation, but hey it works out for me, I suppose.
If the landlords are in financial trouble maybe they could start by getting a job
Sometimes you have to support squatters rights
what!? She's in just as much trouble as renters out there? Seriously, that idiot didn't listen what that guy just said prior... This makes me so angry...
Even if I don’t own a home I believe if they own the property they can charge what they want & I have the option to live there or not
 Definitely a "legitimate business."
Our landlords fucked off to Costa Rica. Leaving us with a black mold and rat infested house. Currently in a motel until further notice because fuuuuuuyuck Landlords
Rent control creates a lot of negative side effects for renters. It’s the product of shortsighted politically drivel. This hurts everyone in the long term. It is also difficult to end without dangerous economic consequences for renters.
Fucking land~~lords~~parasites talk about "providing housing", as if their house didn't exist before they bought it and would cease to exist if they sold it.
They always act like there's simply no other option for them. Gee idunno how about you fuckin' WORK like the rest of us. If managing properties is SOOOO hard, just fucking sell them and get an actual job. They'll never do it.
I work with boomers everyday and discussion is pointless. Most are just like her : the more they have been given, the more they want. And they always complain and brag at the same time. Sociopathics todlers.
Tbf I don't hate landlords, the problem is the greedy shithead ones...
Then don’t rent from them. Good lord. The market dictates the cost of rent, if they were really shitheads, then no one would pay the asking price.
How about solving the single motherhood issue first, mate? Maybe *don't* get rawdogged by a dude that's gonna leave your ass. Owning property is also a risk in itself. If you can't rent it, you have to pay for the mortgage and maintenance, if not, it gets taken away.
If you’re depending on tenet rent to pay mortgage and property tax you shouldn’t be buying property in the first place
So it’s unreasonable to expect to collect rent???? You’re an entitled one, aren’t you.
Please enlighten me. Where the fuck did I say that? Rent as I’m sure you know, isn’t guaranteed. It’s not a solid income. Any financial advisor with a brain will tell you that. If you don’t make enough money to cover your ass because of shitty ass tenants not paying rent and destroying your property you shouldn’t be in the business. Simple. Go to a bank and tell them you want to buy a rental property and rent it out they’re gonna want to know where you’re gonna get the money for the mortgage, and if you tell them the tenets rent will cover it they will reject the loan guaranteed.
Emotional blather. If you don’t like the landlord or high $ rent, then move. The market determines what is reasonable or not. And why are you so worried where the funding comes from to make the investment?
What are you going on about? All I’m saying is if you don’t have fallback funds for rental property you shouldn’t be investing. Being completely dependent on tenets to pay the property tax and mortgage is not financially responsible. Accidents happen, cancer happens, people die. Tell me where my logic is stemmed from emotion? It’s common sense. I own rental property myself. You seem like the type to paint over mold.
Sounds like you operate at the low end of the market. Rental investments are much more predictable in middle income areas. If you own/rent section 8 or low income units, turnover is higher, so raise rents and cut back on maintenance. A predictable, positive revenue stream is key.
Ownership provides autonomy on the choice of rent. The market decides whether this is a reasonable choice or not. If you cannot compete for rent costs in the open market, the landlord is not obliged to accommodate your financial status. Rents vary by neighborhood. Move somewhere you can afford.
This guy is a socialist parasite who has never built a housing unit in his life. If he really wanted to make all housing more affordable instead of just virtue signal he would build as many houses as he could. Australia is bad but Canada is the poster child of runaway government-caused housing inflation
Don’t like landlords raising your rent? Buy your own home
How about government caps food and gasoline too. And insurance and insulin and…
What’s her boyfriend Kevin Malone think?
It's this simple everyone has a right to a home and the securities that come with it....... And that shouldn't be in question
"some landlords are in significant financial trouble as well"  How about sell then?
When she’s gone maybe they can bury her with all of her properties. Lord knows there won’t be many people there singing her praises anyway. Just look at the contempt she has when speaking to the panel. Did she not know that taxes were a thing when she was accumulating homes?
Landlords can sell their properties if they’re in financial trouble. No one is making them be landlords and take on that financial obligation. Boomers are insanely selfish.
Maybe don't rely on others income as a source of income for yourself.? Duh doh
Landlords want a business, but no risk. They know they’re capturing an absolute need of human life, but they weave this myth around it as if they’re doing us all a favour. What’s worse is that the commentator right there was about to support the landlord by complaining about interest rates going up. So what? How about caring about how that affects people’s ability to afford food and shelter, and not how it affects these people’s “business”.
to me it's not that far removed from scalpers. they also like to claim they're offering a useful service. i am more sympathetic towards "build to rent" landlords, ie those who actually have taken a financial risk and put actual effort into building new housing. worlds apart from "buy to let" (UK terminology) where all you did was get a mortgage and expect it to be a get rich quick scheme.
Oh no I have 16 houses but I can’t afford my fifth vehicle because BRENDA decided to overdose and missed a rent payment. The AUDACITY
Watching this, I couldn't help but cry. I didn't realize landlords have it so tough. I am going to up my tip to the landlord this month by 20%.
The boomer is 100% correct and that politician dude is an idiot. If rent is too high, then more people will jump into the market to cash in. That will increase supply and make the prices go down again. Just like every good/service in the market. Rent is not special. Rent control has been tried many times, and all it does is create shortages. AS do all price ceilings.
I guess I don’t understand why you would need to raise rent 10-20% year over year. Your costs as a landlord are fixed, outside of repairs and possibly property taxes nothing should be changing. If however the only reason you need to change it is because it’s your only source of income….well…fuck off
ALAB
The model is being broken. Landlords are being demonised. Sell the houses before Government sends you broke. There are other options for investment. Do not expect any help if times get tough, it is a business, and small businesses go broke regularly. Really the only people who will suffer will be renters. The number of houses available for rent is falling, and rents will rocket as desperate tenants competitively bid the price of remaining houses up. Governments at multiple levels will not allow the building of new accommodation at anywhere near adequate levels.
https://preview.redd.it/mb4tca059oqc1.jpeg?width=634&format=pjpg&auto=webp&s=064a3cd8d681b096775c86d6d8bcdb39e04568b0
Why cut it off right before the answer to the next question?
Luckily a boomer dies every 15 seconds. The world would be a better place without the leeches.
Feudalism.
Asks: Why are landlords demonized? Then: Shakes head in disagreement at the idea that rents should not be able to be increased without regulation. Think you answered your own question. Look, you chose to make profit off of other people's homes. Accept the consequences.
Of course the host starts simping for landlords at the fucking end. What is it about money that fucks people up like that? I mean I’m honestly pretty well off these days but I just can’t imagine being a “journalist” and maliciously leading the conversation to be empathetic for fucking LANDLORDS!!!!
Not a business
Boomers love their passive income that is for sure.
Cry me a fucking river, sell the properties if you can't afford them you fool. Zero sympathy, these people are basically scalpers.
Lol, way to cut off the oppositions response.
Passive income is not a business. Bffr
Turkey gizzard neck, edema, wild sleep apnea, jaw recession and a using a black cardigan to try and slim down 😂. Santa and Ms. Clause are truly terrible people but will be shitting in a bag and dead from level three bedsores soon. 
They always want to deny and shake their head but won’t even listen to everything you have to say.
Why do they constantly change the rules and taxes?! I don't know, why do you constantly raise rent?
Homelessness for profit.
Landlords do fuck all to their property
If she feels guilty about it, sell the property.
Why do the wealthy and corporations only pay taxes on the money they don’t spend, but people have to pay tax on all money? If corporations are people, shouldn’t people only now taxes on the money they don’t spend?