I just wanted to say...

Welcome to our community

Be a part of something great, join today!

Register Log in
Real Estate Developer from California when asked about gentrification.

tumblr_mvxju6x54v1rdutw3o1_400.gif

Later seen under a house she was planning to demolish.
 
It will crash again. It always does. But portland is probably always gonna be more expensive than the olden days. Its a desired location
 
JFizzleRaider said:
It will crash again. It always does. But portland is probably always gonna be more expensive than the olden days. Its a desired location
Click to expand...

They are trying turn it into a tourist destination for rich people with all these dammed condos they are building. How many summer crash pads for rich people are needed?

And the homeless population is being handed bus tickets for California instead of being put in transition programs to get them back on their feet....treated like sewer rats.

Economy is going to hell. Education is going to hell. Everything is going to hell.

I think I might run for mayor
 
There's no doubt in my mind that Californian rent and developer practices have polluted Oregon's market..my mailbox is filled daily with realators wanting to buy my acreage so they can subdivide it.
 
riverman said:
There's no doubt in my mind that Californian rent and developer practices have polluted Oregon's market..my mailbox is filled daily with realators wanting to buy my acreage so they can subdivide it.
Click to expand...

Never sale my friend, never sale
 
Hate to say but its not a bubble, its a shift in who owns what. The houses are being bought up by investors using cash. They are not flipping them, they are renting them out and riding the house value surge, which is fulled by more investors. Its edging first time buyers out with cash and above value offers, and people who had issues in the 2008 crash are edged out due to credit. Its happening in most major cities across the country and if fucking sucks if you dont already own.

http://time.com/money/4227153/millennials-cant-buy-homes-cash-buyers-investors/

Many young adults are sitting on the sidelines of the housing market, and there’s no shortage of theories as to why. Maybe millennials can’t land jobs that will let them move out of their parents’ basements, or maybe they’re too buried in student loan debts to contemplate adding a mortgage to their financial obligations.

But new data shows that one huge factor is the competition — some might say unfair competition — young adults face from investors who can just swoop in, drop a pile of cash and buy the houses they want. These investors then turn around and rent these properties to those same young adults for increasing amounts every year, making it even tougher for young would-be homeowners to ever save up enough money for a down payment.



As of October, a huge number of homes — one in four — that sold were bought by investors paying cash. That’s down some from the peak of a few years ago, when almost one in three houses were snapped up by cash buyers. But it’s still a far cry from the 17% of homes that were bought by investors back in 2000 before the real estate bubble grew and burst, according to the Wall Street Journal.

Investors are most likely to snap up cheap, starter homes — the kinds of houses that millennials are most likely to be looking for and able to afford. “Home supply is diminishing but investor demand is not going away,” Lawrence Yun, chief economist for the National Association of Realtors, told the Journal, which reported that the number of homes on the market below the $100,000 mark fell by about 11% in only a year.

During the height of the foreclosure crisis, investors were buying up foreclosed and short-sale properties at rock-bottom prices with the intention of flipping them and reselling for a profit once the market picked back up. But now, more are hanging onto the homes they buy and renting them out.

It’s a good move for investors who have the cash to spare already, but it’s bad news for the people who want to buy low- and mid-priced homes. Across the country, rental rates are skyrocketing: One prediction said rents could rise by an average of 8% this year, with much higher increases in in-demand markets where young adults are most likely to live and work. And this is on top of increases that have already taken place. “The median asking rent for new market rate apartments hit $1,372 last year, a 26 percent increase from 2012,” a report published in December by Harvard University’s Joint Center for Housing Studies said.
Click to expand...
 
donkiez said:
Hate to say but its not a bubble, its a shift in who owns what. The houses are being bought up by investors using cash. They are not flipping them, they are renting them out and riding the house value surge, which is fulled by more investors. Its edging first time buyers out with cash and above value offers, and people who had issues in the 2008 crash are edged out due to credit. Its happening in most major cities across the country and if fucking sucks if you dont already own.

http://time.com/money/4227153/millennials-cant-buy-homes-cash-buyers-investors/
Click to expand...
In lane county they want land, not fixers...they are running out of places to build cul de sacs...they'd doze my buildings, put in a couple roads and build eight new houses....I'm still out of the city limits so I plan to keep it that way. I'll never sell.
 
Call it what you want, i really dont care because i already own, but the market will crash again at some point. That is a fact. The question is, how low will it crash? I dont think it would crash anywhere near 2012 levels. But at some point it will.
 
riverman said:
In lane county they want land, not fixers...they are running out of places to build cul de sacs...they'd doze my buildings, put in a couple roads and build eight new houses....I'm still out of the city limits so I plan to keep it that way. I'll never sell.
Click to expand...

Watch out for monsters....sounds like a plot for a Scooby Doo episode
 
Chris Craig said:
They are trying turn it into a tourist destination for rich people with all these dammed condos they are building. How many summer crash pads for rich people are needed?

And the homeless population is being handed bus tickets for California instead of being put in transition programs to get them back on their feet....treated like sewer rats.

Economy is going to hell. Education is going to hell. Everything is going to hell.

I think I might run for mayor
Click to expand...


They've been doing that in California and Vegas for years with the mentally ill. Since they deem it too much too pay to have them hosptalized or provide services to get them functional. In fact it's kind of an annual bus circuit back and forth between the two states and Phoenix. Portland and Seattle are now in the mix as new residents call for more police to get that scum off their front lawn.

My question is that when people lose their job and go completely under the poverty line.... is that when they lose their humanity and we no longer have any empathy?
 
ripcityboy said:
They've been doing that in California and Vegas for years with the mentally ill. Since they deem it too much too pay to have them hosptalized or provide services to get them functional. In fact it's kind of an annual bus circuit back and forth between the two states and Phoenix. Portland and Seattle are now in the mix as new residents call for more police to get that scum off their front lawn.

My question is that when people lose their job and go completely under the poverty line.... is that when they lose their humanity and we no longer have any empathy?
Click to expand...

@ripcityboy, sadly the merit of a person depends on their income and housing status. When a person loses their job, can no longer pay their rent, and lose everything, their humanity goes too. Dirty clothed people sitting on corners are seen as failures, when it is rather the system, the government which has failed them. There should be a safety net to catch said people, there should be proper systems in place to catch them before they fall to their demise.

We live in a society where homelessness is becoming a epidemic. As inflation continues to rise without stop, and rent and property tax continues to rise with it, greed is overtaking us. It is not a sustainable system, and will sooner or later collapse.
 
riverman said:
In lane county they want land, not fixers...they are running out of places to build cul de sacs...they'd doze my buildings, put in a couple roads and build eight new houses....I'm still out of the city limits so I plan to keep it that way. I'll never sell.
Click to expand...

My cousin owns a house on MLK and Church. 3 stories 6 bedrooms. He paid 89K. He's been getting offers in the 550K range so they can Airbnb the shit out of it. He says fuck them and their gentrification. He will never sell.
 
dviss1 said:
My cousin owns a house on MLK and Church. 3 stories 6 bedrooms. He paid 89K. He's been getting offers in the 550K range so they can Airbnb the shit out of it. He says fuck them and their gentrification. He will never sell.
Click to expand...

Tell you're cousin he rules.
 
dviss1 said:
My cousin owns a house on MLK and Church. 3 stories 6 bedrooms. He paid 89K. He's been getting offers in the 550K range so they can Airbnb the shit out of it. He says fuck them and their gentrification. He will never sell.
Click to expand...

He should Airbnb it himself and laugh all the way to the bank.
 
High rent will be fixed by the magnitude 9.0.
 
You must log in or register to reply here.

Similar threads

SlyPokerDog
OT I just wanted to take a moment and say I like Lawai's posts
2
Replies
55
Views
5K
BLAZINGGIANTS
B
W
Just wanted to say hello
2
Replies
44
Views
3K
THE HCP
THE HCP
SlyPokerDog
Religion Man hacks bank, tries to steal $7 billion because Jesus wanted him to, officials say
Replies
5
Views
637
stampedehero
stampedehero
magnifier661
I love everyone of you guys
Replies
7
Views
381
jlprk
jlprk
A
Skype is Awesome
Replies
25
Views
5K
AgentDrazenPetrovic
A

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top