Looking to buy my first home in Utah. Investors have purchased the

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Apr 12, 2021
12:51:57pm

McGreevey Walk-on

Looking to buy my first home in Utah. Investors have purchased the

last four houses we have put bids on in the last month or two. All cash offers, not subject to inspection or appraisal. We simply cannot compete.

I'm not sure what the solution is, but I do know that we, along with many of my friends and colleagues in my generation, are looking at renting long term.

It sucks not being able to build equity and it doesn't look like things will change any time soon.

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McGreevey

Bio page: McGreevey
Joined: Aug 8, 2020
Last login: Apr 5, 2024
Total posts: 17 (0 FO)

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Messages

Author

Time

Housing Affordability Solution

BigBlue04

4/12/21 11:30am

Nah. Best solution for housing crunch is kill half the people. #thanoswasright

StalwartBraveTrue

4/12/21 11:32am

This sounds like something Skip Bayless would say if he started giving real

WhirleyPop

4/12/21 11:34am

So if someone wants to rent a single-family home you want the government to tell them they can't.

Sea Chicken

4/12/21 11:34am

Where will renters live?

CBaass

4/12/21 11:35am

I think he was hinting that if there was no rentals then houses would be cheap

4/12/21 10:00pm

Ownership of real estate his heavily subsidized through favorable tax treatment

Mrs Featerbottom

4/12/21 11:36am

Interest deduction on single-family residence and depreciation on rental homes.

grandpacoug

4/12/21 11:48am

Actually most of the subsidies were done away with under the Trump tax cuts

Nat Gas Man

4/12/21 11:56am

Correct. I keep forgetting about you guys in hi value homes & loans. F&C is good

grandpacoug

4/12/21 1:32pm

You know a lot of people rent because they can't or don't want to buy right?

cracka

4/12/21 11:36am

They cant buy because too few SFHs are on the market for sale due to “investors”

valleus

4/12/21 11:43am

What percentage of homes are rentals?

Mems

4/12/21 11:44am

Thank the stimulus: $6T of money finding a home.

byujdmba

4/12/21 11:55am

Or they can't buy because they have bad credit, etc.

cracka

4/12/21 12:00pm

Some. Many others can’t buy because no one will lend them several hundred

4/12/21 12:36pm

We grew up fairly poor. I lived in 23 different apartments before I graduated HS

Superman21

4/12/21 4:20pm

Bad take comrade

CougCoug3

4/12/21 11:37am

Renting out single-family homes to singles is killing young couples.

runnincoug

4/12/21 11:37am

like almost every social engineering idea this one comes with countless

MormonThug

4/12/21 11:39am

inflation is a runaway train pushed by the most powerful entities in the world.

MormonThug

4/12/21 11:41am

By far the best solution. Investment should be in companies, not houses. Greedy

valleus

4/12/21 11:42am

So you have to live in an apartment unless you want to buy a house?

Mems

4/12/21 11:43am

No, but we shouldn’t subsidize owners renting out their SFHs.

valleus

4/12/21 11:45am

So where do they live if homes can't be rented?

Mems

4/12/21 11:45am

:

valleus

4/12/21 11:54am

I can't discuss it if you can't make a coherent point

Mems

4/12/21 12:00pm

How are we subsidizing rental owners?

Cougforgood

4/12/21 11:50am

They have a need to raise taxes on everybody.

CougCoug3

4/12/21 2:02pm

so then the only renting solution would be apartments instead of homes?

LeonMarek

4/12/21 11:42am

Terrible idea.

WDaddy

4/12/21 11:43am

This may be the worst idea I've ever heard.

CocaColaRecovery

4/12/21 11:46am

I guess we should get rid of banks as well

Cougforgood

4/12/21 11:48am

We should probably outlaw the ability to make profit on any product, rich guys

BYUFootballisBack

4/12/21 11:54am

Uh, No.

UVCoug

4/12/21 11:49am

I'm afraid this thinking brings socialism even closer than I was worried about!!

grandpacoug

4/12/21 11:50am

why do you want to rob from people their ability to rent a home? don't people deserve the right to rent if renting

HarlemCoug

4/12/21 11:51am

If individuals can't own rental property that leaves corporations and government

byujdmba

4/12/21 11:51am

Doesn't the tax code already distinguish between primary residences and rentals?

4/12/21 11:59am

Yes, it does. And while some things, like depreciation, are definite advantages

4/12/21 1:03pm

unless you die. but they are going after that now too

Cougforgood

4/12/21 2:48pm

People like this are why cost of living/homeless keep going up in Blue cities

novacoug1

4/12/21 12:01pm

I’ll just say making money on RE is not free as you suggest.

StalwartBraveTrue

4/12/21 12:12pm

<< Deleted >>

novacoug1

4/12/21 12:17pm

RE: People like this are why cost of living/homeless keep going up in Blue

bassiley

4/12/21 3:30pm

I would rather have him at my parties than those that feel entitled to my

CougCoug3

4/12/21 3:52pm

Lolol "hey man why can't everything just be free man - free drinks on the house"

novacoug1

4/12/21 4:07pm

Crazy, so instead of putting money into the ponzi 401k system we have invested in houses. We are up to 3 rentals and

EternalOptimism

4/12/21 12:19pm

So many anticipatable problems with this and likely many that can't be.

CougaRR4L

4/12/21 12:26pm

What if they just want to rent? or cant afford the down payment?

BYU Grounds

4/12/21 12:32pm

There isn’t a housing shortage when you take away all the 2nd homes and Airbnb

Nat Gas Man

4/12/21 12:38pm

Looking to buy my first home in Utah. Investors have purchased the

McGreevey

4/12/21 12:51pm

How do you know they were investors? I know very few buying right now and if the

johnnybyu

4/12/21 1:12pm

The only investors I can see right now throwing that kind of money are either

Nat Gas Man

4/12/21 1:17pm

Agreed certainly not mom and pop landlords that most of this thread is describin

johnnybyu

4/12/21 1:21pm

Our agent told us. He also said he's seen more and more investors buying houses

McGreevey

4/12/21 1:27pm

Interesting maybe there are more institutional investors coming into the market.

johnnybyu

4/12/21 1:29pm

Bring more money to the table.

CougCoug3

4/12/21 2:04pm

We should have a selection committee that determines who gets to live where

Doogal McCougar

4/12/21 12:55pm

In 2012 my wife and I saved money to purchase a SFH rental in a depressed

4/12/21 1:07pm

"But I'm not actually contributing anything productive to society"

4/12/21 1:08pm

So much for family reunions who prefer to spend a week away under one roof.

roseyscenario

4/12/21 2:02pm

My two cents.

WarBYU

4/12/21 3:41pm

Put this right in the column of terrible ideas that will cause there to be a

Gente_Boa

4/12/21 4:06pm

Private property is a foundational principle of our democracy. You can go buy

Iman23

4/12/21 4:18pm

The real solution to the issue that folks on CB won't like is ending the

4/12/21 6:07pm

Yay for density!!! Put that 8 plex next to my house. How awesome is that?

Iman23

4/12/21 6:44pm

Why do you care if there's an 8-plex next door? Worried the people that live

4/13/21 1:03pm

The house value would take a big hit and appreciate much less over time.

grandpacoug

4/13/21 2:03pm

No evidence to support this. And in fact, the most densely populated areas in our country have the highest values.

HarlemCoug

4/13/21 2:48pm

I’ve thought a lot about the loss of sense of community and single family

StalwartBraveTrue

4/12/21 8:25pm

There are many factors. I grew up in the suburban sprawl too. But local

4/13/21 1:02pm

Not to argue but I don't know how you are coming up with your conclusions.

CougaRR4L

4/13/21 3:11pm

Welcome to the new Utah. Unless you got rich parents or you win the lottery

Cosmo4life

4/12/21 6:35pm

This is where patience wins the day...I remember looking for a home in the 2006

delbert

4/12/21 8:52pm

this one appears different to me. The last one was engineered by mortgage

MormonThug

4/12/21 8:59pm

I agree with you. I don’t see an end to this anytime soon. I had to bite the

Cosmo4life

4/12/21 9:03pm

It could be different, the biggest difference I see is that the government is

delbert

4/12/21 10:09pm

Just sayin...

SolidBlue

4/12/21 9:19pm

Perhaps a limit of sorts.

ditch

4/13/21 8:22am

Disagree completely. 5 home limit was tried once before (on loans). Not so good.

grandpacoug

4/13/21 8:48am

Isn’t there still a mortgage limit of 10

Nat Gas Man

4/13/21 9:09am

Haven't received loan in long time. Had 12 flip sales fall out when went to 5.

grandpacoug

4/13/21 9:19am

I’ll still take the invisible hand

StalwartBraveTrue

4/13/21 9:43am

^^^Needs to read Ayn Rand^^^

HenderCoug

4/13/21 3:08pm

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