That's already exactly how it is in Utah. Rental properties for full time renters get the primary residence deduction

Feb 26, 2021
4:57:50pm

mulletino mulletYno@gmail.com

thus making the rental pool less expensive/more competitive. 2nd homes and short term rental properties do not get the primary residence tax deduction.

This message has been modified

Originally posted on Feb 26, 2021 at 4:57:50pm

Message modified by mulletino on Feb 26, 2021 at 5:10:40pm

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mulletino

Previous username: BYU-Provo
Bio page: mulletino
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Last login: May 8, 2024
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Messages

Author

Time

We need laws to discourage SFH as rentals. Individuals who buy multiple SFHs

valleus

2/26/21 3:09pm

Destructive to society?? Not sure about that.

pink22

2/26/21 3:10pm

But there is an issue of affordable housing. Government has taken advantage of

pink22

2/26/21 3:13pm

I agree, freedom and private property are bad and definitely the problem here

Plato

2/26/21 3:11pm

I know plenty of Gen Xers, and Millenials who own rentals. It's far from a boomer thing.

Turnpike Lane

2/26/21 3:12pm

Lol, that’s crazy.

Romex

2/26/21 3:12pm

I’d rather the boomers finally retire and free up the C-suite jobs they are

rivercitycoug

2/26/21 3:12pm

Sorry to burst your bubble but those jobs aren't going to you unless you are a

YbeatsU

2/26/21 3:16pm

Lame post.

WDaddy

2/26/21 3:36pm

I work for a large organization and 8 of the last 10 EVP positions have been

YbeatsU

2/26/21 4:09pm

Hey, WE should get to buy those houses, not YOU!? This isn't fair!

cougarmeister

2/26/21 3:14pm

<< Deleted >>

YbeatsU

2/26/21 3:14pm

You know how hypocritical that is, right?

Baron

2/26/21 3:17pm

So entitled. They deserve it now, and shouldn't have to save and work for it like others before them did.

Turnpike Lane

2/26/21 3:18pm

I think you are getting your generations mixed up...

TheLoneCougar

2/26/21 3:20pm

<< Deleted >>

TheLoneCougar

2/26/21 3:23pm

Millennials are 40 years old? News to me.

byubyu

2/26/21 3:34pm

Yes

YIsForBrigham

2/26/21 3:35pm

RE: Millennials are 40 years old? News to me.

TheLoneCougar

2/26/21 3:43pm

No, that chart is wrong, millennials start around mid to late 80s.

Mitty

2/26/21 3:51pm

The grandpa vibes are strong in this thread

Memmo

2/26/21 4:15pm

You say that like being a grandpa is a bad thing. You really think that? And I’m

YbeatsU

2/26/21 7:20pm

I agree that there is a problem, but I don't agree with the solution

KingDave

2/26/21 3:15pm

I agree with you. I have a couple of properties--one hadn't been a rental and I

DC12

2/26/21 4:13pm

Many things wrong with your post, but one of them is the assumption that

garyfan

2/26/21 3:21pm

I like the rasing interest rates better. Would solve a lot of investment misallocation in other areas too.....

mokelembembe

2/26/21 3:22pm

10 Years ago I was in the same boat. Now in my 30s and I own 2 rental

Chefcurry

2/26/21 3:24pm

There is a demand for rental housing and it serves that. So you think all

johnnybyu

2/26/21 3:28pm

If we haven’t learned yet let’s keep trying more housing regulation to fix this

WP17

2/26/21 3:29pm

That’s not how capitalism works

kapcreations

2/26/21 3:34pm

This is a crazy socialist response to a real problem

YIsForBrigham

2/26/21 3:34pm

I read the article assuming it somehow supported your complaint, but my assumption was wrong

ColoSpgs

2/26/21 3:37pm

Honestly, this is one of the worst takes I’ve seen in a while

UVCoug

2/26/21 3:39pm

The answer for society is: build more homes. The answer for the individual is: move to places that you can afford.

YIsForBrigham

2/26/21 3:42pm

Hopefully that's easier now that more jobs will be remote

Schultz is back

2/26/21 3:44pm

That's the hope. But also, commutes may just be longer. Usually young people want the same stuff they had growing up

YIsForBrigham

2/26/21 3:48pm

Can't build where people want it. Nobody goes where you can.

Lip Gallagher

2/26/21 3:51pm

that's theproblem However COVID and the move to being able to work remotely will

Mayor of Cougartown

2/26/21 5:14pm

The issue isn't rentals, it is renters. Our neighborhood is overrun by rentals

Parkercoug82

2/26/21 3:49pm

You are going to get plenty of blowback on here from those who have it easy but

Mitty

2/26/21 3:56pm

RE: You are going to get plenty of blowback on here from those who have it easy but

Romex

2/26/21 4:12pm

Outlaw everything that has negative consequence!

cougXor

2/26/21 3:59pm

SFH long term renta aren’t really a problem. They are part of the normal housing

Nat Gas Man

2/26/21 4:07pm

41M?

fumblerooski

2/26/21 4:31pm

Laws like what?

JuicyJam

2/26/21 4:09pm

How about everybody gets 1 sizable property tax exemption for your primary

rcbyufan

2/26/21 4:26pm

Isn’t that how Utah law is written now?

Nat Gas Man

2/26/21 4:31pm

Just need to exaggerate it more. Like anything less than median value in state

rcbyufan

2/26/21 4:34pm

Whoah. No property tax at all for people that likely already also don’t pay much in income tax? Talk about fair share

YIsForBrigham

2/26/21 5:06pm

This will likely hurt renters the most which is who you are trying to help

johnnybyu

2/26/21 4:50pm

I'm not trying to help renters though. I'm trying to encourage people to get

rcbyufan

2/26/21 4:59pm

Right rents go up which will make it harder for them to save for a down payment

johnnybyu

2/26/21 5:05pm

You're thinking too short term. They will downsize their rental (maybe out of

rcbyufan

2/26/21 5:12pm

And you are thinking a govt solution will be helpful to the housing

johnnybyu

2/26/21 5:14pm

If that's the case then my plan would have LESS gov't intrusion because

rcbyufan

2/26/21 5:21pm

Then all those young families are going to pay a fortune to educate their kids.

johnnybyu

2/26/21 5:33pm

That's already exactly how it is in Utah. Rental properties for full time renters get the primary residence deduction

mulletino

2/26/21 4:57pm

"lots of young married couples unable to afford starter homes, and they live in cramped, bad rental housing".

Zenoch

2/26/21 4:33pm

Good for you! What price did you pay 40 years ago?

Parkercoug82

2/26/21 4:47pm

$90K. Which was expensive then and barely within our ability to pay even while stretching given the much lower wages

Zenoch

2/26/21 5:13pm

And your interest rate was probably astronomical as well.

byubyu

2/26/21 7:07pm

Good point. Our first mortgage had a 13% interest rate - which makes borrowing costs a lot more expensive. After several

Zenoch

2/26/21 7:16pm

Young people hate these anecdotes. Wages have not remotely kept up with housing

JuicyJam

2/26/21 5:38pm

Guess what? Your kids/grandkids will complain about housing/jobs in comparison to you too. I complained to my dad also

Zenoch

2/26/21 6:10pm

"This leads to Bernie followers" your idea is worse than most of Bernie's and

califcougar

2/26/21 4:39pm

The solution to fix cramped bad rental housing is to decrease rental options?

johnnybyu

2/26/21 4:48pm

Holy smokes! This guy hates capitalism. I'm guessing you are

CougaRR4L

2/26/21 4:55pm

I'm betting that a bigger problem is young marrieds see their middle class parents owning large homes and think

TFL

2/26/21 4:58pm

Tell young people to stop supporting over regulation by their beloved Biden

kotacoug

2/26/21 5:07pm

Not to inject facts into the conversation

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