Current Events > Renting a house? I'll show you something fucked up.

(+) Yeah! (+)

https://gamefaqs.gamespot.com/a/user_image/0/5/8/AAeEQXAACwxa.jpg

Finally a Calvin & Hobbes meme that Bill Watterson might actually approve of.

What? No thats not how it works at all

I'm confused, by Calvin's Dad's logic how would the landlord pay taxes/mortgage if the property didn't have a tenant?

sauceje posted...

I'm confused, by Calvin's Dad's logic how would the landlord pay taxes/mortgage if the property didn't have a tenant?

They took out a loan initially. Repayments come from the rent. And as rent often exceeds the mortgage and taxes in any given month, they end up pocketing the profits. It's also why they tried to say "oh but with the rent freeze I can't keep making payments" but in reality that meant they didn't actually have the money unless they got it from the tenants. And it also meant that they were not saving any money in case of an emergency, which is something that renters are still expected to do for the landlord.

That's it.

sauceje posted...

I'm confused, by Calvin's Dad's logic how would the landlord pay taxes/mortgage if the property didn't have a tenant?

That's the point. The tenant is essentially paying more than the monthly mortgage payment so someone else can own the house.

bUt tHeY mAiNtAiN tHe pRoPeRtY

If only I could afford to buy a house and also take care of any maintenance on it .__.

Xavier_On_High posted...

bUt tHeY mAiNtAiN tHe pRoPeRtY

Which is what any person who owns property would be responsible for. Especially if they, personally, lived in it.

pegusus123456 posted...

The tenant is essentially paying more than the monthly mortgage payment so someone else can own the house.

So why doesnt a tenant buy their own house?

Health posted...

So why doesnt a tenant buy their own house?

Because the housing market is fucked.

Respect landlords. J/K, theyre the worst.

pegusus123456 posted...

Because the housing market is fucked.

there's either no places or too high of a bar to get one.
it's definitely problem 2.

Health posted...

So why doesnt a tenant buy their own house?

Because they cant afford to

whitelytning posted...

Because they cant afford to

But they are paying for all the costs, according to the meme

Either they can afford to and landlords are stealing all their labor

Or there's another component that tc willfully ignores

Its hard to buy a house when you need to save up 20-40k for a down payment but you also pay $1500/mo in rent to someone

thronedfire2 posted...

Its hard to buy a house when you need to save up 20-40k for a down payment but you also pay $1500/mo in rent to someone

Is it, though?

g980 posted...

But they are paying for all the costs, according to the meme

Either they can afford to and landlords are stealing all their labor

Or there's another component that tc willfully ignores

hmmmm. No, the meme perfectly represents the situation and TC is definitely not willfully ignoring a major element that would explain the situation better. This is CE after all.

Rents too high. Period. It's dumb af that there's not any lobbying from corporations to either make rent cheaper or houses more accessible considering people are almost always happier in their own homes. And corporate America likes happy workers.

g980 posted...

Or there's another component that tc willfully ignores

Shablagoo, being disingenuous and willfully ignorant? Well I never!

Doesn't TC live in China?

AzurexNightmare posted...

Doesn't TC live in China?

Wisconsin.
Lol he's prolly never left his own state and shills a country for wumao bucks

That no one can afford a house anymore?

AzurexNightmare posted...

Doesn't TC live in China?

No, he just shills for China for some odd reason.

ShineboxPhil posted...

Wisconsin.
Lol he's prolly never left his own state and shills a country for wumao bucks

Houses are cheap(er) here

I'm renting an apartment.
Probably gonna get a mobile home next year tho

That's so stupid

Health posted...

So why doesnt a tenant buy their own house?

Because large corporations are buying up property above market value with their large amount of capital to rent out.

thronedfire2 posted...

Its hard to buy a house when you need to save up 20-40k for a down payment but you also pay $1500/mo in rent to someone

It is, which is why you have to make sacrifices. I live a part of the country that has a high immigrant population and they have no trouble buying houses because they have large families and having multiple generations of people living together isn't a big deal for them. It's easier to save money when you have free childcare and multiple people working and contributing.

In our case, we lived in a double wide that a family member owned and saved up for our first house in maybe 2 years. If it's your first house you can put down as little as 3% down. Of course, applying for a mortgage is complex but it's like an investment in addition to a place to live. Owning a home is a good way to build wealth and stability.

kelemvor posted...

It is, which is why you have to make sacrifices. I live a part of the country that has a high immigrant population and they have no trouble buying houses because they have large families and having multiple generations of people living together isn't a big deal for them. It's easier to save money when you have free childcare and multiple people working and contributing.

In our case, we lived in a double wide that a family member owned and saved up for our first house in maybe 2 years. If it's your first house you can put down as little as 3% down. Of course, applying for a mortgage is complex but it's like an investment in addition to a place to live. Owning a home is a good way to build wealth and stability.

Building wealth shouldn't be built upon basic human needs for survival. This is the problem.

Turbam posted...

I'm renting an apartment.
Probably gonna get a mobile home next year tho

Bad idea imo

Check out John Oliver's video on it

kelemvor posted...

If it's your first house you can put down as little as 3% down.

Maybe where you live.

We had to put down 20% on our first house.

Fam_Fam posted...

Building wealth shouldn't be built upon basic human needs for survival. This is the problem.

why not

Do you feel the same way about grocers and farmers?

Shablagoo posted...

https://gamefaqs.gamespot.com/a/user_image/0/5/8/AAeEQXAACwxa.jpg

what is to stop the tenant using that money to buy their own house?

Lonestar2000 posted...

Because large corporations are buying up property above market value with their large amount of capital to rent out.

Bingo. They are using our money to price us out of the market.

Cost of my car is equal for a house in 1978.

Glob posted...

Maybe where you live.

We had to put down 20% on our first house.

Yeah, getting the 3% down means you need a credit rating in the high 700 range, as well as proof you have a steady job. Also you have to pay PMI, which must be considered. It's not hard to repair bad credit, but it can take a while, over a year in some cases. Do they teach that in High School these days? When I was in High School I had no idea what a credit rating was and how important it was to pay your bills on time.

We put 5% on our first house I think, it was around $7000.

g980 posted...

why not

Do you feel the same way about grocers and farmers?

farmers and grocers aren't really "building wealth".

The retail workers of CE complaining about renting again.

Will_VIIII posted...

Bad idea imo

Check out John Oliver's video on it

I've seen it.

kelemvor posted...

Yeah, getting the 3% down means you need a credit rating in the high 700 range, as well as proof you have a steady job. Also you have to pay PMI, which must be considered. It's not hard to repair bad credit, but it can take a while, over a year in some cases. Do they teach that in High School these days? When I was in High School I had no idea what a credit rating was and how important it was to pay your bills on time.

We put 5% on our first house I think, it was around $7000.

My credit score is fine and I've not been out of work for almost 20 years.

As I've said, what applied to you doesn't necessarily apply everywhere. Our deposit on our first house was 50,000, or, if you prefer, $67,657.45.

That's a hard amount to save up when paying extortionate rents. And yes, the rents are extortionate. We pay nowhere near in mortgage each month for a very nice four bedroom house with a garden and driveway with parking for three cars compared with what we used to pay in rent for a not particularly nice two bedroom flat with no parking and no outdoor space.

I cAn'T aFfOrD rEnT!!!! tHe HoMe OwNeRs ArE eViL sCuM wHo WaNt MoNeY!

darkprince45 posted...

The retail workers of CE complaining about renting again.

I wonder how easy or practical it is for a bunch of people (maybe CE renters!) to buy a giant $1M house in the country and then all live together. Even with a house that expensive if you split up a $5000 a month mortgage between 6-8 people it wouldn't be that bad. Live together for 3-5 years, then sell the house and divide the proceeds equally. Then everyone has a nice down payment for their own house.

kelemvor posted...

I wonder how easy or practical it is for a bunch of people (maybe CE renters!) to buy a giant $1M house in the country and then all live together. Even with a house that expensive if you split up a $5000 a month mortgage between 6-8 people it wouldn't be that bad. Live together for 3-5 years, then sell the house and divide the proceeds equally. Then everyone has a nice down payment for their own house.

Sounds like the perfect premise for a TLC reality show

kelemvor posted...

I wonder how easy or practical it is for a bunch of people (maybe CE renters!) to buy a giant $1M house in the country and then all live together. Even with a house that expensive if you split up a $5000 a month mortgage between 6-8 people it wouldn't be that bad. Live together for 3-5 years, then sell the house and divide the proceeds equally. Then everyone has a nice down payment for their own house.

You have 6-8 people that could hit hard times then the other 5-7 need to make up the slack or else all of them will be out on their ass. It's risky.

ModLogic posted...

what is to stop the tenant using that money to buy their own house?

Well that takes saving up for one. You also hafta figure in facts about what kind of job the person or people have. How cheap or expensive the area is. Money for food, various bills, taxes, car payments, gas, and any surprise medical bills that may blindside you. Moving, even if you do it by yourself still costs time and money depending on how far away you go.

kelemvor posted...

Yeah, getting the 3% down means you need a credit rating in the high 700 range, as well as proof you have a steady job. Also you have to pay PMI, which must be considered. It's not hard to repair bad credit, but it can take a while, over a year in some cases. Do they teach that in High School these days? When I was in High School I had no idea what a credit rating was and how important it was to pay your bills on time.

We put 5% on our first house I think, it was around $7000.

so your first house was $140k lol

thatll buy you a nice sized garage where I live

I wish they would give out loans like they did in the Bush era. They always say they gave out loans to people who couldn't afford them. I can afford them, but they won't give me one.

Someone needs to do a study on how much land lords run up prices

Or of theres a landlordless society

TerraSeeker posted...

I wish they would give out loans like they did in the Bush era. They always say they gave out loans to people who couldn't afford them. I can afford them, but they won't give me one.

Good ol' NINJA loans

No Income No Job (or) Assets

Exactly. Theyre the mooched of society