"The Silent Depression" & Single-Family Homes... a great big nothingburger or...?

[Ingomike]

The HOA's

Big HOA’s for Biden effort going on. Wait, don’t give them any ideas…

 

[Route 45]

I find it, hilarious, that the same people who rail about freedom are the ones who actually pay to subject themselves to a governing body to control themselves and their neighbors.

 

[Route 45]

Yep, and I corrected the situation and moved on without blaming others for my mistakes…

 

[Ingomike]

I find it, hilarious, that the same people who rail about freedom are the ones who actually pay to subject themselves to a governing body to control themselves and their neighbors.

I find it hilarious that there is little or no acknowledgment of the loss of property value bad neighbors can inflict on those invested in a neighborhood.

Also, faulty description, it is subjecting oneself to an agreement as to how the neighborhood will be.

A similar loss of freedom occurs with an employment contract…

 

[Route 45]

I find it hilarious that there is little or no acknowledgment of the loss of property value bad neighbors can inflict on those invested in a neighborhood.

I don’t obsess about made up numbers regarding “value.” The value of where I live is determined by it’s worth as a home, not as a house. None of it matters anyway unless you’re buying it, selling it or borrowing against it.

Keep worrying about the market. We see what you sold your freedom for.

 

[HoosierLife]

For those that don’t own a home and prospects seem dim, this 5% down for multi family owner occupied could be the answer for you.

It’s called house hacking.

It used to cost 25% down to buy a 2-4 unit multi family house/apartment.

But now you could buy a duplex for 5% down, rent out the second door to someone else and have the 2nd tenant pay most or all of your mortgage.

Tons of duplexes for sale in the $200-$300k range in Indy.

Live there for a year, rinse and repeat.

When you move out, you place another tenant in the duplex.

Now you’re cash flow positive.

After 10 years, you could own 10 duplexes with 20 tenants who are paying down your mortgage.

Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes

Discover how Fannie Mae's groundbreaking policy change in multifamily financing is empowering mortgage borrowers.

themortgagereports.com

 

[Nugget]

For those that don’t own a home and prospects seem dim, this 5% down for multi family owner occupied could be the answer for you.

It’s called house hacking.

It used to cost 25% down to buy a 2-4 unit multi family house/apartment.

But now you could buy a duplex for 5% down, rent out the second door to someone else and have the 2nd tenant pay most or all of your mortgage.

Tons of duplexes for sale in the $200-$300k range in Indy.

Live there for a year, rinse and repeat.

When you move out, you place another tenant in the duplex.

Now you’re cash flow positive.

After 10 years, you could own 10 duplexes with 20 tenants who are paying down your mortgage.

Fannie Mae Introduces 5% Down Payment Option for Multifamily Homes

Discover how Fannie Mae's groundbreaking policy change in multifamily financing is empowering mortgage borrowers.

themortgagereports.com

Ah yes, owning rental properties. The quickest and easiest way to take on a second full-time job without even realizing it.

Screening applicants; showing the place to prospective tenants; answering maintenance calls at all hours of the day and night; making repairs and upgrades after tenants move out; suing former tenants that skip out on the lease, slow pay, won't leave, or do excessive damage; etc etc etc.

All the joys of home-ownership (taxes, insurance, upkeep, maintenance, worry, hassle, and headaches) with the added benefit of dealing with useless strangers! Huzzah! And I have to imagine it's 10x worse when your tenant lives next door and shares a wall, floor, or ceiling.

No thanks!

 

[Route 45]

I can think of no greater hell than being a landlord.

 

[HoosierLife]

Ah yes, owning rental properties. The quickest and easiest way to take on a second full-time job without even realizing it.

Screening applicants; showing the place to prospective tenants; answering maintenance calls at all hours of the day and night; making repairs and upgrades after tenants move out; suing former tenants that skip out on the lease, slow pay, won't leave, or do excessive damage; etc etc etc.

All the joys of home-ownership (taxes, insurance, upkeep, maintenance, worry, hassle, and headaches) with the added benefit of dealing with useless strangers! Huzzah! And I have to imagine it's 10x worse when your tenant lives next door and shares a wall, floor, or ceiling.

No thanks!

You can hire people to do that for you.

Yeah they’ll take 10%, but then everything you mentioned is taken care of.

 

[Nugget]

You can hire people to do that for you.

Yeah they’ll take 10%, but then everything you mentioned is taken care of.

So now you've also got employees at your second job who you're paying and trusting to do all of those other things up to your standards. That's not really a solution, just a different set of headaches and potential problems. Again, pass.

 

[Creedmoor]

I can think of no greater hell than being a landlord.

My older brother and I have a few. about 7-8 years ago we decided to turn all but one over to a Property Management Co to do all the work. It was a good decision for us.
The one we kept has a long long term tenant in it.

 

[sixGuns]

End Hedge Fund Control of American Homes Act
Sen. Jeff Merkley – Rep. Adam Smith

New York Times (Wayback):

New Legislation Proposes to Take Wall Street Out of the Housing Market

Jeff Merkley (D) website (Wayback):

Merkley, Smith Lead Bicameral Action to Ban Hedge Fund Ownership of Residential Housing

Bill Summary

I was trying to find someone better than Yahoo Finance and commondreams.org to link Bezos' "donation/investment," but here they are... click as you see fit.

Common Dreams (Wayback):

Jeff Bezos Donates $120 Million to Fight Homelessness, Then Invests $500 Million to Make It Worse

MSN:

Jeff Bezos-backed company launches new fund to turn single-family homes into rentals

Investment firms own roughly 27% of all SFH's and are predicted to own 40% by the year 2030 according to MetLife Investment Management.

Over the past few days I've seen a few rumblings on Reddit's front page which prompted this post. "But Sixguns, Reddit is a liberal hive-mind!" I agree and the nightly news is dead. Nevertheless, every democrat politician/voter will support this and every middle/independant getting squeezed will too. Congressional majority seems a slippery slope right now and the senate... well, you get the idea. Thoughts?

Edit: "Waybacking" more links.