I mean as most people rent I understand but as a property owner, I have to repair, heat. keep the water hot/running, exterminate sometimes, and pay a mortgage on a building this stuff costs money. I think the bigger think is making sure the renters are protected in other ways. I think the other issue is cities cap how many apts a city can house as homeowners contribute a lot more to the tax base relative to the household size.
And you have to account for vacancies, non-payin' tenants, etc. All of that goes into the rent amount.
None of yall answered the question and just gave "Just World" advice as if you automatically know a random person's circumstance.
Im betting yall have no problem with gentrification as well...
Major problem. But I do my best to educate folks. My 1st flip was a long term play as I didn't have the money to invest right away. While there, watchin' the neighborhood turn like I expected, I witnessed folks sell homes for way less than they were worth. Family across the street from me sold for $80K when you couldn't get a fixer upper my my neighborhood for less than $450K. Why? Because it needed a lot of work.
I made it a point to tell everyone I could not to accept less than that if they were considerin' sellin'. But when you paid $50-100K, and someone offers $200K cash, ignorance kicks in.
And like someone said earlier, you have to know rentin' is short term. When things start improvin', like we all want, you can't expect the prices to stay the same.
How the fukk do you expect people to save money to buy a goddamn house if their living expenses keep getting jacked up?
Do you understand math?!!
The economics here are unfortunate. That person typically has to move.
But there are things in place. Tenants get 1st right of refusal when rentals get sold. Pool those funds & buy the buildin'. I work in affordable housin', and there's a project in the pipeline now with tenants ownin' a portion of the buildin'.
There are also home buyin' programs. I bough my 1st house through one. No closin' cost, no down payment & no concern for credit scores. They just want you payin' who you owe. Buy what you qualify for.
Landlords make plenty of profit. Stop that. Do the math. Don't blame the tenants. Blame the greedy landlords folks turned a blind eye to. Since folks in the field won't police each other? Hell yeah bring in a bigger entity.
Sorry not sorry.
I personally know landlords not cakin'. Real estate is risky. Small buildin', one non-payin' tenant can ruin you. And part of what renters pay is the likelihood of a certain % of tenants not payin', vacancies, broken leases, etc.
In developin' areas, taxes go up on landlords, folks get sued, fined... in some ways, some landlords are in worse positions than tenants. A tenant can dip & find another crib. An owner has a tougher time sellin' a property, full of low rent payin' tenants.