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

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Feb 26, 2021
5:12:22pm

rcbyufan Truly Addicted User

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

necessity) it will be obvious how much money they will save if they buy a home as opposed to renting. Depending on how the tax is set up it could be dramatic. This will incentivize people to get their affairs in order and get to owning a house faster, IMO. It will also discourage investors buying up all the inventory.

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rcbyufan

Bio page: rcbyufan
Joined: Aug 18, 2010
Last login: Apr 30, 2024
Total posts: 31,675 (1,086 FO)

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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.

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

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!

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.

2/26/21 3:18pm

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

2/26/21 3:20pm

<< Deleted >>

2/26/21 3:23pm

Millennials are 40 years old? News to me.

byubyu

2/26/21 3:34pm

Yes

2/26/21 3:35pm

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

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

2/26/21 3:34pm

This is a crazy socialist response to a real problem

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.

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

2/26/21 3:48pm

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

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?

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

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

2/26/21 5:22pm

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