- Joined
- May 22, 2017
This is the #1 hottest commodity on the market. Old fucks want them so they can downsize into them after selling their mcmansion, or they want them as investment properties. Any affordable housing in non-shit neighborhoods is at a premium because of this. You need to understand that single family home rentals tend to be a money losing prospect over time. Boomers are just so retarded that they don't run the numbers to realize it. They've seen, unadjusted for inflation, massive increases in property values over their lifetime and assume the number will always go up. The cost of maintaining the properties and opportunity cost is lost on them.small starter homes for new families.
Elsewhere, the sprawling ghettos of blacks, browns, and various foreigners suck up the rest of the affordable housing. Even if the boomers die, you'll need to get rid of these groups if you want affordable starter houses back. Otherwise, ghetto expansion is the future. And to be clear, ghettos play by different investment rules. There's a lot of welfare money, almost non-existent expected upkeep, and under the table money exchanges keeping it profitable. If a tenant pays in cash, doesn't exist on your books, and no party wants to acknowledge them as a legal tenant, why would you tell the government it's rented out? Write it off as unoccupied and hope the taxman doesn't look too hard into a slum.