Cancel Rents and Mortgages[W:280]

[phattonez]

Re: Cancel Rents and Mortgages

Many do. See...again your bitter bias blinds you.

Or they worked for years before investing in rental units....earning the rent and any discretionary income left over.

Then they can continue to work instead of sitting on their asses collecting rent checks and exploiting poor workers.

 

[phattonez]

Re: Cancel Rents and Mortgages

I was in the appraisal business for 30 years. 85% of my business was sales/mortgage appraisals. There was never a time I wasn't turning down work. So yes, I believe it.

What does debt/equity ratio have to do with this discussion?

You're not getting approved for a low down payment mortgage unless you have a good income. Low down payment doesn't mean you don't need any assets.

 

[phattonez]

Re: Cancel Rents and Mortgages

The real labor of the landlord purchased and maintains the unit.

The maintenance is worth no more than a few hundred per month on average.

 

[Lursa]

Re: Cancel Rents and Mortgages

Then they can continue to work instead of sitting on their asses collecting rent checks and exploiting poor workers.

They dont have to...their good decisions and investments earned them whatever leisure...if any...they get.

Again, so sad you give American workers so little credit...portraying them as victims. Stop the projecting.

 

[Lursa]

Re: Cancel Rents and Mortgages

The maintenance is worth no more than a few hundred per month on average.

Sources? And how much do you think rent is and what proportion of the rent that is?

 

[phattonez]

Re: Cancel Rents and Mortgages

They dont have to...their good decisions and investments earned them whatever leisure...if any...they get.

Again, so sad you give American workers so little credit...portraying them as victims. Stop the projecting.

So let's say there's a guy born kind of stupid. Not his fault, he's just dumb, but he's really good at bussing tables. If he does that full time at the best of his ability, should he be unable to ever own a home because he's kind of dumb?

 

[phattonez]

Re: Cancel Rents and Mortgages

Sources? And how much do you think rent is and what proportion of the rent that is?

Maintenance is generally no more than 1% of home price. For a 240k home that's $200 per month.

This article says just 2k per year.
Average Homeowner Costs on Optional Maintenance

 

[Lursa]

Re: Cancel Rents and Mortgages

So let's say there's a guy born kind of stupid. Not his fault, he's just dumb, but he's really good at bussing tables. If he does that full time at the best of his ability, should he be unable to ever own a home because he's kind of dumb?

What makes you think such a person can pay the bills, taxes, maint. on a home? THere is more than cost of buying. Such a job is not remotely stable and many lenders wouldnt loan to him without a great deal of savings/collateral. Your description makes the person look like a poor risk.

Owning a home is a big responsibility. OTOH if he works hard enough to save the $$ for a solid downpayment and can show he's a good risk, great.

And IMO, your example is not typical of the average American worker. Do you think it is? If not, then it's a stupid example.

 

[Lursa]

Re: Cancel Rents and Mortgages

Maintenance is generally no more than 1% of home price. For a 240k home that's $200 per month.

This article says just 2k per year.
Average Homeowner Costs on Optional Maintenance

OK, that's not rentals.

 

[phattonez]

Re: Cancel Rents and Mortgages

What makes you think such a person can pay the bills, taxes, maint. on a home? THere is more than cost of buying. Such a job is not remotely stable and many lenders wouldnt loan to him without a great deal of savings/collateral. Your description makes the person look like a poor risk.

Owning a home is a big responsibility. OTOH if he works hard enough to save the $$ for a solid downpayment and can show he's a good risk, great.

And IMO, your example is not typical of the average American worker. Do you think it is? If not, then it's a stupid example.

I didn't say it was typical. Answer the question I asked. Should such a hardworking guy be unable to ever buy a home? You're okay with that?

 

[Lursa]

Re: Cancel Rents and Mortgages

You mean the real labor of the renter is what's actually paying the mortgage.

After the labor and investment of the landlord provided the unit to him/her.

 

[Lursa]

Re: Cancel Rents and Mortgages

I didn't say it was typical. Answer the question I asked. Should such a hardworking guy be unable to ever buy a home? You're okay with that?

I explained it very clearly. What part of my answer do you dispute?

Are you claiming that lending agencies should take on poor risks?

 

[jimbo]

Re: Cancel Rents and Mortgages

You're not getting approved for a low down payment mortgage unless you have a good income. Low down payment doesn't mean you don't need any assets.

That's actually not true. Neither statement.

 

[phattonez]

Re: Cancel Rents and Mortgages

OK, that's not rentals.

Rental maintenance is substantially higher than on owner occupied homes? Citation needed.

 

[phattonez]

Re: Cancel Rents and Mortgages

After the labor and investment of the landlord provided the unit to him/her.

If he bought it through his labor that's fine. That doesn't entitle him to substantial profits and other homes he didn't work for.

 

[phattonez]

Re: Cancel Rents and Mortgages

That's actually not true. Neither statement.

It is true. You don't know about the ability to repay rule?

 

[Lursa]

Re: Cancel Rents and Mortgages

Rental maintenance is substantially higher than on owner occupied homes? Citation needed.

I didnt say that but neither does your source prove it's the same.

 

[phattonez]

Re: Cancel Rents and Mortgages

I explained it very clearly. What part of my answer do you dispute?

Are you claiming that lending agencies should take on poor risks?

I'm saying that hard working people should be able to buy decent homes. If they're unable then something is wrong.

 

[Lursa]

Re: Cancel Rents and Mortgages

If he bought it through his labor that's fine. That doesn't entitle him to substantial profits and other homes he didn't work for.

That's your opinion. It's not up to you to judge how much the sweat of someone else's brow is worth.

 

[phattonez]

Re: Cancel Rents and Mortgages

I didnt say that but neither does your source prove it's the same.

Sounds like you're appealing to ignorance.

 

[phattonez]

Re: Cancel Rents and Mortgages

That's your opinion. It's not up to you to judge how much the sweat of someone else's brow is worth.

It's also your opinion that working families should live in tents rather than touch landlord profits.

 

[Lursa]

Re: Cancel Rents and Mortgages

I'm saying that hard working people should be able to buy decent homes. If they're unable then something is wrong.

You qualified it with a man who was intellectually challenged and only capable of a menial and unstable labor.

Now you are moving the goal posts. And not answering direct questions that examine the gaps in your thinking.

 

[Lursa]

Re: Cancel Rents and Mortgages

It's also your opinion that working families should live in tents rather than touch landlord profits.

This lie again? Now I know you have recognized you've failed to make any of your arguments.

 

[Lursa]

Re: Cancel Rents and Mortgages

Sounds like you're appealing to ignorance.

That's what happens when your source doesnt support the topic.

 

[Mycroft]

Re: Cancel Rents and Mortgages

There is no city in this country that offers housing units that cost a few hundred per month while also having jobs.

Really?

How about Las Vegas?

Apartments for Rent for less than $500 in Las Vegas, NV | ForRent.com

How about San Antonio?

Apartments under $500 in San Antonio TX | Apartments.com

How about Florida?

https://www.rentcafe.com/apartments-under-500/us/fl/

This next one is a few years old, but it still looks pretty good.

15 Cities Where You Can Rent an Apartment for $650 or Less

Like I said...take responsibility for yourself.