• Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
  • We have made minor adjustments to how the search bar works on ResetEra. You can read about the changes here.

Doukou

Member
Oct 25, 2017
4,530
.



www.cnbc.com

63% of millennials who bought homes have regrets—usually because they missed this one crucial step

Just over 1 in 3 millennials are homeowners, but they're not necessarily happy about the decisions they made. Here's the No. 1 reason why young people who managed to buy a home have regrets.
There are a lot of reasons people choose not to buy a home. Yes, some people can't afford it, but many who can end up regretting it. Many others choose not to do so because they're single, willing to relocate for job opportunities, prefer to save (it's a LOT cheaper to rent).
Why on earth did you link to an article that doesn't even support that?
It says that the top reason for regret is cost and lack of starter homes(which is also cost). Which supports the argument of homes being expensive and the fact that most homes are not affordable right now is the real reason people are not buying homes.
Edit: I looked at the actual survey and there's not single reason that could be remotely attributed to preferring renting. This article just goes against your argument.
The survey does say that 18% don't want to own a home so you have that vs the 82% who do but can't afford to for various reasons.
 
Last edited:

CaviarMeths

Avenger
Oct 25, 2017
10,655
Western Canada
There was an article in my reddit feed yesterday about how landlords are feeling worried because "renters might not be able to pay."

Lol.

Fuck 'em.

Imagine hording an essential resource and extorting the most economically disadvantaged people for access to a basic human right and this is all OK because somewhere along the line society decided that this was a legitimate business.
 

Bebpo

Member
Feb 4, 2018
4,574
I work with tenant businesses and landlords and fyi, it's not just Cheesecake Factory. I'd wager at least 50% of the national chains right now have stopped paying rent. Once a couple of them did it, even if the others were billion dollar corporations with infinite money they just figured "hey, free money by not paying rent" and joined the bandwagon. Pretty sure by the end of the month almost no corporation will pay rent to their landlords.

Also just for perspective, while people are generally "fuck landlords" and think this is cool, when it's people sure, but national chains? I mean you guys are basically applauding the 1%ers corporate overlords for fucking over regular people (most property owners are individuals and a lot who I've met are retired 70/80 year olds who live off their income from rent).
 

overcast

Member
Oct 25, 2017
13,427
Also just for perspective, while people are generally "fuck landlords" and think this is cool, when it's people sure, but national chains? I mean you guys are basically applauding the 1%ers corporate overlords for fucking over regular people (most property owners are individuals and a lot who I've met are retired 70/80 year olds who live off their income from rent).
Not sure about this but are these national chains renting from individual property owners? Cheesecake especially seems located in malls and stuff.
 

Ovaryactor

Member
Nov 20, 2018
416
I said a random person, not your family members. I know you're purposely being obtuse right now since you obviously know the difference between supporting your wife and kid that live with you, vs random people who aren't related to you.

I also sponsor several kids through Children International, that's hardly paying one's living expenses. It's like 40 dollars a month.

Okay, if you seriously don't see how you literally said you would make people homeless because they can't pay one month... you are the one being purposefully obtuse.

When people cannot pay things up front they talk to the company responsible for the debt. Often, you can work things out and maybe the possibility is higher because of a crisis.

Contact Utilities companies and put in the effort if you think it's a real job, and work with the tenants to make rent eventually.

I've done this very thing individually and this is what I'd imagine is the job of my landlord. But many times, folks will waive payments for months and sometimes even forgive it based on the situation. People need to help each other.
 

cmdrshepard

The Fallen
Oct 30, 2017
1,557
I am in Australia and am a landlord. Me and my wife moved over to Melbourne from Perth so I can study starting this year and both gave up our jobs and our first home which is still under mortgage was rented out (because the market to sell was shit). I am terrified for our situation if there is a rent freeze in Australia as me and my wife are both on student support payments and need that rent to meet our mortgage payments and we will completely default if we don't get anything.

Like we are not making a profit out of this - we are charging $375 rent (getting ~$368 after weekly fees from agent - just the weekly not fees not all the other fees) and we pay $426 in our mortgage. We only get $420 a week as students, so we would be absolutely forced to sell and the bank will then evict.
 
Last edited:

Night Hunter

Member
Dec 5, 2017
2,796
70,000


My renters can do that in their own property if they want to make the investment. I'm the one risking the money. After 2008, many people are choosing not to own. It's weird, none of my tenants see me as an enemy.

If they went on a strike not cause by actual hardship, I'd have them evicted I suppose. I'd also be forced to turn off all the utilities as well. No heat, water, electricity etc. Worst comes to worst, I sell the place and the person who buys it can deal with it.

Why don't we have the ability to annotate user profiles? Like for example, in this case, leech

Guess what, all your tenants hate you with every fiber of their being

I'm so glad I'm finally getting out of this shit

Best regards
A home owner who miraculously finally decided to own a home instead of renting. Like, why didn't I think of that before ...
 

Cup O' Tea?

Member
Nov 2, 2017
3,603
I'm also a landlord in Australia. The combination of supposed rent freezes and eviction moratorium are terrifying to me. I always thought if I were to lose my job, I could move back into my house and rent out the remaining rooms to cover my obligations. If I'm not able to do this, I basically have to negotiate a lower rent payment with my tennants (which I would be perfectly okay with) but what do I say to the bank? I'm going to need one of those loan suspensions or the option to go interest only otherwise, I'm going to go broke.
 

CaviarMeths

Avenger
Oct 25, 2017
10,655
Western Canada
lol from the replies of that Airbnb thread

ETuAI4UX0AEom3s.jpg
 

Fatoy

Member
Mar 13, 2019
7,225
I'm also a landlord in Australia. The combination of supposed rent freezes and eviction moratorium are terrifying to me. I always thought if I were to lose my job, I could move back into my house and rent out the remaining rooms to cover my obligations. If I'm not able to do this, I basically have to negotiate a lower rent payment with my tennants (which I would be perfectly okay with) but what do I say to the bank? I'm going to need one of those loan suspensions or the option to go interest only otherwise, I'm going to go broke.
Cases like this are why I really dislike it when people go "landlords are parasites lol".

I personally know three or four people who've had to move to other cities / countries for work, and who have moved into short-term rentals over there while they put their main house (which is mortgaged) up for rent to cover their mortgage payments. These people aren't Ebeneezer Scrooge; they're regular folks doing a totally normal thing. They're not even making money - they're just breaking even while they figure out whether to permanently relocate or not.

You simply cannot freeze rent without also freezing mortgages.
 

Cup O' Tea?

Member
Nov 2, 2017
3,603
You simply cannot freeze rent without also freezing mortgages.
They have options at certain banks to freeze loans for 6 months but all of the cost just gets tacked on to your overall debt. You then have higher repayments when things supposably return to normal and you start paying again. I think people sometimes get the wrong idea when you hear phrases like "loan holiday".
 
Last edited:

Trup1aya

Literally a train safety expert
Member
Oct 25, 2017
21,356
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL



Oh wow, this is my first time seeing this. Is this satire?

This guy is a few cancellations away from becoming a the supervillain in a Pixar movie.
 

whytemyke

The Fallen
Oct 28, 2017
3,786
This thread is weird. A lot of landlords are ordinary people and this thread is basically championing a billion dollar organization for abusing the current situation to be able to bilk them over as well.

I suppose if Cheesecake Factory hasn't laid off a single person and are making sure that their wait staff are still getting paid equally to what they were under normal business operations, I could understand them not paying rent. But something tells me this isn't exactly a charitable move. If I had to guess, they've cut back on staff already AND are trying to screw landlords over.

Plus there are restaurants out there that will go under and skipping rent could help. But again, while I don't have the luxury of looking at a balance sheet, something tells me that's not The fucking Cheesecake Factory lol
 

Coyote Starrk

The Fallen
Oct 30, 2017
53,013
This thread is weird. A lot of landlords are ordinary people and this thread is basically championing a billion dollar organization for abusing the current situation to be able to bilk them over as well.

I suppose if Cheesecake Factory hasn't laid off a single person and are making sure that their wait staff are still getting paid equally to what they were under normal business operations, I could understand them not paying rent. But something tells me this isn't exactly a charitable move. If I had to guess, they've cut back on staff already AND are trying to screw landlords over.

Plus there are restaurants out there that will go under and skipping rent could help. But again, while I don't have the luxury of looking at a balance sheet, something tells me that's not The fucking Cheesecake Factory lol
Yeah this thread is really weird I agree. I have had a couple of landlords that really suck but the vast majority of landlords I've had it in my life are just regular people. And this whole fuck landlords thing this thread has been on for the last couple of pages seems to paint every landlord as a terrible person just because they're a landlord. Not only that but they seem to think it's perfectly okay for all of these people to be financially ruined. And that is extremely short-sighted in my opinion.
 

Renna Hazel

Member
Oct 27, 2017
11,571
Okay, if you seriously don't see how you literally said you would make people homeless because they can't pay one month... you are the one being purposefully obtuse.

When people cannot pay things up front they talk to the company responsible for the debt. Often, you can work things out and maybe the possibility is higher because of a crisis.

Contact Utilities companies and put in the effort if you think it's a real job, and work with the tenants to make rent eventually.

I've done this very thing individually and this is what I'd imagine is the job of my landlord. But many times, folks will waive payments for months and sometimes even forgive it based on the situation. People need to help each other.
Hmm, no I didn't say that at all. You're adding in your own spin to support your narrative. First off, I specified the difference between can't make the rent and wont make the rent. I very specifically said if people refuse to pay me not relating to hardship. Second, you added the one month thing on your own. It's not even possible to evict someone in a month. For the record, I've never evicted someone for a missed payment. If you look at my post history I even mention in another thread that several of my tenants contacted me to let me know they wont be able to pay rent due to losing their jobs this month. I said I'd support them as long as I realistically can do so. In this very thread I mentioned paying a tenants rent for them due to hardship. But I cannot do that for all my tenants forever because I don't have the money to do so.

The actual narrative, based on the question proposed and how I answered it. Is that if all of my tenants collectively decided that they weren't going to pay me for a reason that wasn't related to financial hardship, the result would be eventual evictions and utilities cut off, and if I'm forced to sell, they get a new landlord that will have to deal with the problem.

The narrative you created out of that is that I would force people into homelessness if they couldn't make rent for a month.

This is why I felt the need to explain how paying bills works. One of these things is the reality of how this scenario would play out, the other is purposely painting a picture of an evil landlord. It makes it hard to approach people rationally here.

Why don't we have the ability to annotate user profiles? Like for example, in this case, leech

Guess what, all your tenants hate you with every fiber of their being

I'm so glad I'm finally getting out of this shit

Best regards
A home owner who miraculously finally decided to own a home instead of renting. Like, why didn't I think of that before ...
lol my 5 star Yelp rating from my former tenants must be because they hate me so much.

Not everyone is a miserable, hateful person that is mad at everyone in the world for their own shortcomings. But if imagining people you don't know have a seething hate for another person you don't know makes you feel better about yourself, more power to you.
 

Crocodilelogic

Attempted to circumvent ban with an alt account
Banned
Oct 29, 2017
728
Yeah this thread is really weird I agree. I have had a couple of landlords that really suck but the vast majority of landlords I've had it in my life are just regular people. And this whole fuck landlords thing this thread has been on for the last couple of pages seems to paint every landlord as a terrible person just because they're a landlord. Not only that but they seem to think it's perfectly okay for all of these people to be financially ruined. And that is extremely short-sighted in my opinion.

This website has gone crazy the amount
of hostility that is allowed in my opinion is rediculous. But the hostility is only allowed in certain subjects or against certain groups of people.

I'm another leech who worked his ass off to buy a duplex and live in it for years before I bought my first single family home.

Now I rent both units and I can assure the clueless people in this thread I am not rich .
Plenty of middle class people own rental property Or rent homes they used to live in.
 

Coyote Starrk

The Fallen
Oct 30, 2017
53,013
This website has gone crazy the amount
of hostility that is allowed in my opinion is rediculous. But the hostility is only allowed in certain subjects or against certain groups of people.

I'm another leech who worked his ass off to buy a duplex and live in it for years before I bought my first single family home.

Now I rent both units and I can assure the clueless people in this thread I am not rich .
Plenty of middle class people own rental property Or rent homes they used to live in.
Yeah. I don't think people realize that some landlords are just that. People who just own a single property and are by no means well off.


Are there shitty landlords that own multiple properties who don't give a single shit about their renters because they have the money and means to not care? Absolutely. And fuck those people. But trying to paint every single landlord as a shitty asshole who is just rolling in cash so it's okay that they go broke is just ridiculous in my opinion.
 

Renna Hazel

Member
Oct 27, 2017
11,571
This website has gone crazy the amount
of hostility that is allowed in my opinion is rediculous. But the hostility is only allowed in certain subjects or against certain groups of people.

I'm another leech who worked his ass off to buy a duplex and live in it for years before I bought my first single family home.

Now I rent both units and I can assure the clueless people in this thread I am not rich .
Plenty of middle class people own rental property Or rent homes they used to live in.
So many people here seem to think a landlord = a slumlord.

And yeah, the hostility that is allowed is...well something else. Thankfully that's never something I encounter outside of this place, and there are still plenty of great posters here.
 

mentallyinept

One Winged Slayer
Member
Oct 25, 2017
3,403
So, I'm a landlord.

Me and my wife moved into a new house last year, and held onto the old one because my sister-in-law wanted to rent it from us, which made everything much cleaner with a no-contingency sale.

I fully support a rent and mortgage freeze while my state is in lockdown.

Mandate all rental contracts to go month to month if the lockdown overlaps with the end of the contract and extend all mortgages by the number of months the state is in lockdown. 30 year mortgages become 30 year and 3 months or whatever.

You can't force people into their homes for weeks and months on end and expect them to be able to pay their bills. It's ridiculous.

 

bionic77

Member
Oct 25, 2017
30,888
This thread is weird. A lot of landlords are ordinary people and this thread is basically championing a billion dollar organization for abusing the current situation to be able to bilk them over as well.

I suppose if Cheesecake Factory hasn't laid off a single person and are making sure that their wait staff are still getting paid equally to what they were under normal business operations, I could understand them not paying rent. But something tells me this isn't exactly a charitable move. If I had to guess, they've cut back on staff already AND are trying to screw landlords over.

Plus there are restaurants out there that will go under and skipping rent could help. But again, while I don't have the luxury of looking at a balance sheet, something tells me that's not The fucking Cheesecake Factory lol
We have a few rental properties. We don't really make money on them. The idea of buying them was to slowly built equity and value and maybe give them to our kids or sell them to pay for a education, wedding, etc. in 20+ years. Even when they are paid off the rents are not high enough to really support me in retirement.

I am sure its a different situation in really big cities where there is just not enough housing and some landlords are making crazy bank. But thats true with everything. There are always some assholes and shitty people in anything and everything.
 
Oct 30, 2017
5,006
Y'all sell cheesecake for the price of gold. Y'all can pay rent lol


But fuck landlords though. Don't pay those bastards a single cent.
 

Kthulhu

Member
Oct 25, 2017
14,670
Cases like this are why I really dislike it when people go "landlords are parasites lol".

I personally know three or four people who've had to move to other cities / countries for work, and who have moved into short-term rentals over there while they put their main house (which is mortgaged) up for rent to cover their mortgage payments. These people aren't Ebeneezer Scrooge; they're regular folks doing a totally normal thing. They're not even making money - they're just breaking even while they figure out whether to permanently relocate or not.

You simply cannot freeze rent without also freezing mortgages.

I think people are generally more angry at people or companies that run entire complexes or rent out multiple properties. Not people like in your example that rent out a room or their house because times are tough.

The problem is systemic. Even if you're the ideal landlord that perfectly maintains your property, treats tenants with respect, and does your best to keep rent low then you're still enabling and profiting off a system that commodifies housing and results in homelessness and gentrification.


Yeah, fuck private property! Government should be in charge of it all so everything will be perfectly maintained. /s

Yeah cuz all private property is perfectly maintained and never is unsafe.
 

Crocodilelogic

Attempted to circumvent ban with an alt account
Banned
Oct 29, 2017
728
I think people are generally more angry at people or companies that run entire complexes or rent out multiple properties. Not people like in your example that rent out a room or their house because times are tough.

The problem is systemic. Even if you're the ideal landlord that perfectly maintains your property, treats tenants with respect, and does your best to keep rent low then you're still enabling and profiting off a system that commodifies housing and results in homelessness and gentrification.




Yeah cuz all private property is perfectly maintained and never is unsafe.

So housing should be free for everyone then? How would your system work exactly? lmao

If no one buys these buildings were do people live who can't get home loans on the streets?
 

Kthulhu

Member
Oct 25, 2017
14,670
So housing should be free for everyone then? How would your system work exactly? lmao

If no one buys these buildings were do people live who can't get home loans on the streets?

In co-ops run by the tenants that don't profit off of the people that live there. There are already laws in place in Seattle where tenants have the first right of refusal to buy their property and turn it into a co-op if the landlord tries to sell it. Ideally we'd have this at a national level and it be made to be more practical for middle class and lower income housing instead of mostly upper middle class and rich people who can afford to band together and go through the legal process.

I'm not saying this is an easy problem to solve. Housing is complex and the idea of housing as an asset instead of a necessity is deeply woven into our economy, so a rip and replace of it isn't possible without basically destroying the global economic systems and nuking everyone's chances at retirement.
 

GungHo

Member
Nov 27, 2017
6,134
This is what I am really worried about for small businesses. They may not be able to cover rent and they would not have the negotiating power of a national chain nor would they be the endcap of a mall. I have had a few coworkers say "certainly, the landlords would prefer someone who could eventually pay them" and I am not so confident.
 

Kthulhu

Member
Oct 25, 2017
14,670
All this talk about landlords has me remembering this AMAZING diatribe from an Airbnb landlord and its just like fucking high performance art. LOL



That's pretty funny. I hear many of the Airbnb users are starting a class action lawsuit over the cancellations. Doubt that'll go anywhere.

Frankly I don't feel too bad for the landlords who put their properties on Airbnb. They are taking valuable housing off the rent market and making bank.
 

PanzerKraken

Member
Nov 1, 2017
14,995
There is a pretty big difference also between commercial property leasers and individual residential landlords.

Most commercial real estate is controlled by huge companies and management firms. While an apartment can just be someones investment property they depend on for income and need that money to get by themselves.

This is what I am really worried about for small businesses. They may not be able to cover rent and they would not have the negotiating power of a national chain nor would they be the endcap of a mall. I have had a few coworkers say "certainly, the landlords would prefer someone who could eventually pay them" and I am not so confident.

This is why so many malls have gone under, the leasing offices at malls are notoriously greedy, scummy, and don't give a shit about their leasers. If you aren't a huge anchor store like a Macy's, your business is seen as nothing by most malls, and they have for years acted like "whatever, someone else will gladly take your spot". As they keep raising the rent and adding more money making schemes, they struggled to fill in vacancies, and instead of trying to work with its renters, they let them go and then struggle to fill in the vacancies, creating empty malls. You figure they would lower prices to attract new leasers? NOPE, the malls just kept raising rent to squeeze more out of those businesses that stayed and oh look, now more are leaving....... oh crap we have tons of empty stores in the mall now.... people aren't coming anymore.... and RIP Mall
 

Wrellie

Member
Oct 29, 2017
696
Just got back from paying an AC guy to fix a tenant's AC. As someone reliant on commercial tenants paying their rent (very small businesses), the "fuck landlord" sentiment in this thread is pretty disgusting. There are a lot of landlords who care about their tenants, have mortgages, and their livelihood is dependent on rent being paid. Regardless of whether mortgages are frozen, landlords' ability to buy their own groceries, prescriptions, etc...are affected by this as well. But I guess "fuck them" because they chose this as their job...
 

Grifter

Member
Oct 26, 2017
2,571
Ordering lunch there now, just doing my part in supporting local businesses in these trying times
 

BlackNMild2k1

Banned
Oct 25, 2017
1,340
Bay Area, CA
You can't force people into their homes for weeks and months on end and expect them to be able to pay their bills. It's ridiculous.



I just wanted to chime in and say that I heard there may be a 90 day moratorium on all Mortgage payments.
Not entirely sure if this is a national mandate, or just the one bank I heard this from.

I'm sure there is some sort of public announcement coming from somewhere soon.
 

mentallyinept

One Winged Slayer
Member
Oct 25, 2017
3,403
I just wanted to chime in and say that I heard there may be a 90 day moratorium on all Mortgage payments.
Not entirely sure if this is a national mandate, or just the one bank I heard this from.

I'm sure there is some sort of public announcement coming from somewhere soon.

I hope that is true.

People need relief before April 1.

The stimulus package is great for the next 3-4 months but that money is going to take a long time to make it to people.
 
Dec 12, 2017
4,652
I just wanted to chime in and say that I heard there may be a 90 day moratorium on all Mortgage payments.
Not entirely sure if this is a national mandate, or just the one bank I heard this from.

I'm sure there is some sort of public announcement coming from somewhere soon.
This is already in effect in NY. There's just been a rent-freeze bill that's been introduced as well.
 

BlackNMild2k1

Banned
Oct 25, 2017
1,340
Bay Area, CA
I just wanted to chime in and say that I heard there may be a 90 day moratorium on all Mortgage payments.
Not entirely sure if this is a national mandate, or just the one bank I heard this from.

I'm sure there is some sort of public announcement coming from somewhere soon.

Update: And from what was just communicated to me, this is for California, can't speak for other states.
but practically all major lenders are doing a 90 Day moratorium on mortgage payments (it will be tacked on to the back of your loan). One major lender is doing 30 days at a time for as long as necessary. (also to be tacked on to the end of the mortgage term).
 

leder

Member
Oct 25, 2017
7,111
So I'm totally not in favor of fucking over normal people that are just renting out a place due to life happening to them and having to move or whatever, but y'all in here are wild. How many people so far have said "I don't even make any money off of this, it is barely more than my monthly payments on the house".

What do the payments go towards? Could it be equity in the home? The home, as in the most valuable asset most people can ever hope to attain? Do you really have multiple mortgages and not understand how this works? Even if they are literally only covering your monthly payments, you're still deriving an immense return from them.
 

BassForever

One Winged Slayer
Member
Oct 25, 2017
29,930
CT
So I'm totally not in favor of fucking over normal people that are just renting out a place due to life happening to them and having to move or whatever, but y'all in here are wild. How many people so far have said "I don't even make any money off of this, it is barely more than my monthly payments on the house".

What do the payments go towards? Could it be equity in the home? The home, as in the most valuable asset most people can ever hope to attain? Do you really have multiple mortgages and not understand how this works? Even if they are literally only covering your monthly payments, you're still deriving an immense return from them.

Even the normal person renting out a home can still take a loss against their overall taxable income. I know a few clients who are okay with their rent properties being a loss since it helps to lower their overall tax bracket.
 

Nacho

Member
Oct 25, 2017
8,114
NYC
Some landlords have mortgages though. It's a whole chain reaction of things.
I mean, it's the whole thing where... ok they can go get a new tenant? from where exactly? shit isnt business as usual right now, normal free market shit doesnt exactly apply in a state of emergency. There's going to be lots of aid and rebuilding all around and not everything will be equal, but there has to be something somewhere or everything collapses.