I think this asshole calling the place I have lived for almost a decade (and other places I have lived for the last 30 years) "a hotel dressed up as if it were a home" pretty good reason to be outraged. That's a broadside insult to everyone who rents in a multifamily building. Who talks like that?
I think he is making the point as a GenZ. RE is local and he is running in his community. What is true in his town is not true in another. All RE is local. I cant measure Miami the same way as some little town in the midwest
He's in ARLINGTON VIRGINIA.
check This in South Florida not even a " Good Area " how will an entry level Genz out of College with Student debt will ever save to build his wealth? This shit is what should outrage us. Corporate buildings creating an impossible market.
If you build more, the price will stabilize or even drop. This has been proven out.
They ARE building more, but charging more in my Area, and not building for Ownership but rental units that rent for outrageous prices. At the same time the Nazi RDS in FL sides with Insurance, and gives Condominiums outrageous power over people, forcing elders to move out from their homes
Florida is reaping what it has sown, I have no sympathy for people who deferred their condo maintenance for years to keep their fees low and are now facing the consequences. Insurance isn't in business to lose money, and Florida made it's choice.
Florida fucked up with Republican governors. I would support a 1% increase in property Taxes to allow Universal State Insurance up to Assessed value. That would be WAY cheaper and spread out the risk. But not good for Insurance companies that grease the hand of Republican politicians
I said this in another reply thread, of course I have 23 years of experience in RE and the kid there is just a GenZ bsky.app/profile/jeep...
Note this was not rocket science Obama tried to implement it as part of the making home affordable initiave. I sold a house with 60k Community redevelopment money to a recent Graduate in 2010. He went on to sell it and buy another house.. he still pays his student loan to this day.
But that was one case.. Most homes were bought with Wall Street money and milked as rent and they sold them in 22/23 for massive profits
This has nothing to do with "corporate" anything. The worst and greediest landlord I ever rented from was just some guy. This guy's entire position is that renters *as a class of people* should not exist in his area.
Well he specifically says that. The issue is VERY similar in my area TBH but the solutions are completely different of what he says.
I read the same thing you read. He does not want renters in multifamily buildings in his community, and called where we life dressed up hotels. He can eat shit and I am going to find who he is running against and give them some campaign money.
lol Thats good. However the problem he is pointing out is very GenZ. They have almost completely been left out of homeownership.
So BUILD MORE RENTALS so that people can have someplace to live in the meantime and not have to buy a house from a fixed supply in a low density area with car dependenc, especially if they don't want one.
but this MY local RE this is what is happening HERE They are building rental units like crazy and Millenials/Post millenials rent them and live at 50-70% of their income going to Housing. If they charge 2.6k The small duplex in the area chsrges 2.3k because the price line raises
This is what they do. This is what he is saying. They build and charge outrageous amounts and all the market goes with them. I am seeing it in the city of Dania Beach here they are Gentrifying the hell out of the place with "cool" 15 story building at $2.6 1/1s
Is that like New York? Thats outside DC i have been there. Yes its fucking outrageously expensive. But not a Big city. I see him as a GenZ understanding things like a GenZ person. Ownership is aspirational and inability to obtain is a thing.
By eliminating housing supply you increase the cost of the existing supply, this is basic supply and demand math that people learn in high school. I live in a converted townhouse. There are 16 apartments in my building. I've been here for almost a decade. This is a home, and it is my home.
I get that. He is not saying HOW that is MY critique to the thing. To do something like this there has to be heavy investment by local government. His GenZ head dont get it. However I hope someone who understands does something about solving these issues. But staying silent not an option
The only way to make home ownership affordable is to increase housing stock in places where people want to live. That means rental units where people will move when they are new to an area or just starting out in life or don't know if they want to stay long term. Eliminating rentals means you /
also eliminate mobility. If I am forced to buy a house then get a job across the country, I *can't leave* until I find someone to buy my house and also buy another house. You understand that, right?