Comment by jeffbee
6 days ago
If you want equity in real estate nobody is stopping you. The problem is when people get this idea that we need to discourage investors from building very greatly desired rental housing.
6 days ago
If you want equity in real estate nobody is stopping you. The problem is when people get this idea that we need to discourage investors from building very greatly desired rental housing.
This is the big problem with treating your home as an investment. People who just want a place to live near where they work now have to play this game too. And it's not cheap game.
That was what rentals were supposed to be. And then there was also such a thing as a "starter home". From what I see in Omaha, it's the developers that got greedy — figuring they could get more dosh turning a higher-end home than a starter home on the same lot.
That’s not greedy though? Are you greedy if you build more valuable software and then charge more for it?
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I'm pretty sure investors are persuaded by money and little else — if renting is profitable they'll build rentals.
> if renting is profitable they'll build rentals
The point is it's difficult and expensive to build in America. The core competency of construction in most cities is knowing how to grease the community boards', planners', affordable-housing advocates' and permitting offices' palms.
it isn’t really all that difficult, but it is difficult to build in the places that the jobs are.
There are tons economically depressed towns that would absolutely love to have an infusion of property tax revenue
My problem is that the wealthy get wealthier while the middle class gets subjugated to permanent renter class.
Go ahead, develop! And sell equity in the property. I've wondered if I would support my city requiring a certain percentage of dense urban lots be flats for sale vs. rental.