Better than paying interest to the criminal bankers.

If the landlord pays interest to the "criminal bankers", where do you think he gets the money from...the tenant of course.

Wakehead, as Logic4U mentions, bankers still get paid. Renters pay all the same expenses as homeowners, taxes, insurance and maintenance. Then you have to add the profit for the landlord. Renting has it's advantages, but it's not always the best long-term solution.

Then that is the landlord's problem. My rental is a paid off house. I'm funding my landlord's retirement.

My rent is locked in at a nice low price. I have family & friends who have managed to keep their homes. If my rent goes up, I have choices.

To Leasors & Retailers & Wallstreet - WE ARE BROKE - Get used to it!

We bailed out the banking industry and they are continuing to stifle the real estate market and the economy with low appraisals and listing their own foreclosures way below market continuing this vicious cycle and further hurting the economy. Why does a home sale depend on the SUBJECTIVE opinion of an incompetent appraiser?

Forcing people into rentals does not stimulate the economy. Renters don’t pay property taxes to keep the local economy from struggling. When will it end?

2012 we can only HOPE for CHANGE!

Brandon LOL, Obama the Moderate Republican. If Obama is so conservative in your eyes, I'd hate to see what you would do to this country if you ran the place. Is Kim Jong Ill too conservative too?

Anyway, if a person can buy a home right now, it really should be heavily considered. At least where I live, buying is cheaper than renting by a large margin. I could rent my place out for 3X what I pay in mortgage. Add taxes, insurance, and what not, and I'd still be able to cover it and pocket 500/month. Only problem I would face at this time is not being able to get out of my house till my 3 years are up so I wouldn't have to pay back the 8K tax credit I received from the Govt. After I'm clear of that, it will be amazingly tempting to rent the place out.

"Renters don't pay property taxes"

That is simply not true. Rental properties are subject to property taxes just like owned homes are. Landlords factor the cost of property taxes into the rent (as well as mortgage costs, interest, insurance, and regular maintenance) - therefore a portion of each month's rent goes to pay those taxes. Property tax increases directly affect rental prices. It is simplistic to say that renters do not pay property taxes. The landlords aren't absorbing those taxes - they're passing them on to the renters. Otherwise, renting out a home or apartment would not be profitable.

It simply amazes me how often this tired bit of misinformation gets trotted out when property tax are being discussed - often with the intention of disenfranchising renters. Yes, the tax is hidden for a renter, - included in the rent rather then a seperate check written out, but he or she still pays it.

BTW the same goes for other public services - water, sewage and garbage pick-up.

FedupwithFed... Renters don't pay property taxes???? What the hell do you think is part of the rental rate? ALL of the landlords expenses are rolled into the basic rental rate.

And if you REALLY want realistic housing values, you'll need to wait until they drop another 50% or more. And banks aren't stifling the market by not lending. They're going back to what had previously worked. Buyers with an EQUITY stake in the property. Co-owners with the bank if you will that had skin in the game and a REASON to maintain the property and make sure it didn't collapse around them from neglect.

Richard-1971294 "I could rent my place out for 3X what I pay in mortgage. Add taxes, insurance, and what not, and I'd still be able to cover it and pocket 500/month."

And then where would you live - in a tent? You'd have to rent somewhere else.

Being a landlord sounds good on paper, but you'd be amazed at the problems you will have with tenants. If you're not psychologically able to handle constant late pays, evictions and constant excuses from tenants, think carefully about whether it's for you.

We'll be seeing tents pretty soon, I think.

Greed permeates the whole society, not just the biggies! Now is a good time to get into the landlord business, because the price of homes is so low. Someday, the turnips (poor/mid class folks), will have no more blood. "you can't get blood out of a turnip". BTW: sure glad there is no inflation! sarcasm

"paying interest to the criminal bankers"? Those "criminal bankers" will give you a fixed-rate loan that lasts for a set term, usually 30 years, after which you own your home outright. Rent goes on forever...no end, ever. And landlords can increase the rent, change the rules, neglect maintenance, kick your cat out, etc., and all you can do is pick up and move...and hope your lease is up so you can get some of your money back. No thanks. That may be great for young people, but it's no way for a serious adult to live...at least if they can possibly avoid it.

All the smarty-pants types last year were saying "Who could be dumb enough to buy a home NOW???" Truly smart people will never rent if there is a reasonable alternative. Sure, sometimes there ISN'T an alternative, or you might be in circumstances where you can't, or don't want to, stay for long. But to make the sweeping generalization that owning a home is always for suckers is just plain dumb, and is a sure sign of a person not thinking things all the way through to the end. And that's what kids do, after all; they act young and stupid. Just the way it is.

There is no way I can sit here and claim that the real estate market has absolutely bottomed out. But I can certainly predict that the rental market will keep going up from here, and that if you buy a home and pay off the mortgage, when you own the place outright and your payments are finished, you'll always be ahead of where you would have been if you had still been renting. Every. Single. Time.

In Indiana, not only do landlords pay property taxes, but they pay double the property taxes of a single family residential property (but still 2/3 of what commercial businesses pay).

I still can't understand why as a landlord I am being punished with higher property taxes after all my efforts to bring good tenants to the neighborhood, who spend their money locally, and to fix up and add tens of thousands of dollars of value to the street...yeah, that's rolled into the rent, but there's only so much the market will bear and only so much folks can afford to pay for a nice rental.

Seems upside down to me -- the folks putting their a$$es on the line (those in business) should be getting the benefits for providing employment and economic stimulus, and those doing nothing but consuming should pay the brunt of the fees and taxes. Sure would create incentive for lazy people to step up and do something for themselves and the good of society.

Home values are falling due to lack of buyers, low demand.
Rental rates are going up because of high demand.

• Are home sellers not adding to the rental market by renting out the homes that they can't sell? I heard you can get a lot from renters now.
• Increased profits for rental property owners should allow them to expand and buy more properties to rent out.
• If home prices are low, it means low mortgage payments. Competition from low mortgage rates should lower rental rates.

It seems that the two facets of housing (renting and owning) should balance each other out. Is this just a falsely perceived lack of supply or am I missing something from economics 101?

XDm9mm

No truer words have been spoken. If a person has no stake in anything they have no comittment. To many of us want something for nothing. Buy a run down house in a good neiborhood and put some hard work into the house. You will be much farther ahead and will not have sign your sole to the banks. No landlord, to raise your rent.

I've rented apartments for around 30 years and in various states. I really never thought I would be able to afford a down payment on a house I wanted to live in even though my needs are pretty modest. plus When the housing market plunged, I decided if I were going to ever own a home I had to 'buy now', but I was still worried about my future financial abilities. I figured it was easier to walk away from an apartment than a house. Then I noticed that all the apartments in my area suddenly had no apartments for rent anymore. They were all taken by people leaving their houses. Rent for my nice comfortable 2 bedroom apartment was the same as the mortgage on a 3 bedroom house (Minus taxes.) and I figured it was going to increase fairly rapidly since the landlord seemed to have no problem filling all their apartments. So, I figured I really had nothing to loose and bought a house.

Anyway, it's really no surprise to me that rental rates are climbing. It's not even much of a surprise at the rate they are climbing. Especially since all the units are full and also especially since taxes seem to be climbing faster to take up the slack of lost revenue from all the other sources.

@FedUpWithFed

Renters don't pay property taxes

Oh, that's not the reason rent goes up when our landlord's property tax assessment goes up? Sorry dude, it gets passed on just like corporate taxes do. Anything that increases the costs always gets passed on, despite whatever malarkey is attempted to be fed us with the sh1t shovel. Including the "Great Bankster Bailout of 2007-2008.

Yep, you renters should have taken their $8K down, which would have been 10% down on an $80K place, and even on a 15-year fixed rate mortgage, you would have been way ahead owning, even if home prices temporarily fell another 20%. Why pay rent at a much-higher rate just for the freedom to move on somewhat shorter notice? A lot of these places that used to offer 6-month leases are now going to a year or longer too.

Some friend of mine just rented a 2-BR/1 BA house in Colorado for $900/month on a 2-year lease, the shortest lease term that was offered, when if they would have had $10K down, their mortgage, taxes, and insurance could have been under $600/month on a 15-year mortgage for the same size house in the same neighborhood. Not only that, but the mortgage interest and property taxes are deductible on Schedule A when you own your own house too. Then you can get a homeowner's service contract at $50 per month that will greatly limit your potential for expensive maintenance costs too.

What happens if you have to move on short notice, do you think that your landlord is going to let you out of the balance of your lease? If you can't sell your house right away when you need to move, then you can always rent it to someone else, keep making the payments, and keep building equity too. I still think that owning your own place is a much better deal, especially with home prices and mortgage rates at historic lows. Maybe when you retire, if you can't sell your house, then you can get a reverse mortgage and live off of your equity.

Then that is the landlord's problem. My rental is a paid off house. I'm funding my landlord's retirement.

That's how it works. Your landlord spent money to pay the loan on the house and now it's paid. Do you expect lower rent because it's paid?

Aaron-2000616

• Are home sellers not adding to the rental market by renting out the homes that they can't sell? I heard you can get a lot from renters now.
• Increased profits for rental property owners should allow them to expand and buy more properties to rent out.
• If home prices are low, it means low mortgage payments. Competition from low mortgage rates should lower rental rates.

It seems that the two facets of housing (renting and owning) should balance each other out. Is this just a falsely perceived lack of supply or am I missing something from economics 101?

Regarding low home prices: I am a life-long renter who would LOVE to own a home (I'm 36), but due to life circumstances and some poor choices as a 20-something, owning is out of the picture for about 4-5 more years. I probably could have bought a home when they were being handed out like candy, but I chose not to knowing that there were some shady practices going on. However, a lot of people DID buy what they couldn't afford and those are the people saturating the rental market right now. Most renters are like me, or like them, and none of us are going to qualify for those new lower home prices, no matter how much we'd like to. (I definitely could afford a mortgage now and would be very low-risk, but the banks wouldn't see it like that.) So yes, it *seems* like more people should be buying right now, but most of the rental types are not in any position to buy at this point in time, so it's going to keep the rental market over-saturated for a few more years.

My husband and I own rentals. Small houses, not apartments. We rent month to month, but ask for 30 days notice on moves. We pay property taxes and insurance, provide air conditioners and appliances. We charge a deposit, and we pay to have the place cleaned when renters move out. We paint and repair, re-carpet if necessary. Every few years a roof has to be repaired or replaced, etc. We pay mortgages on these properties. All this is considered when setting the rental rate. We must also consider what the market will bear in a low wage, low cost of living area. And yes, this is helping fund our retirement. It is not all pure profit for the landlord. Costs of maintaining and keeping rentals in good repair in order to attract or keep good renters keeps rising as do all other costs. So, landlords have home owner responsibilites also, only multiplied several times over. There are many reasons for rental rate increases.

Why are renters victims? They can choose where to live and how much to pay. Lincoln Park is the most expensive rental neighborhood in Chicago. These guys could find a decent place for much less rent in a less trendy area.

For those of us that look at the world with the glass half full, the good news is that housing has not been this affordable for decades. While the banks lose, homebuyers gain. This combination of low prices and low interest rates will eventually go away and will not be seen again for a long time. If you don't want to buy, then don't buy. If you are not planning on staying put for a number of years, don't buy. But in this country we still have a choice to rent or buy and where to live. Don't call renters victims. They chose renting and can become homeowners anytime they want.

Mark my words. Future millionaires and billionaires are out there today buying up property while the rest of you whine.

Nat-313031

So yes, it *seems* like more people should be buying right now, but most of the rental types are not in any position to buy at this point in time, so it's going to keep the rental market over-saturated for a few more years.

Nat, maybe my post wasn't clear, but your story is exactly my point. A saturated rental market coupled with low cost housing should result in homes-for-sale being converted into homes-for-rent. Creating an increase in supply of rental properties to meet the growing demand.

Absolutely agree, Gary. In the early '80s when my husband and I were young and first looked at buying a home, interest at the bank was a whopping 15-18% ! If (big if) you could qualify for FHA money or bond money you were lucky to get 9-10%. Mortgage interest has been going continually lower since 1997, and has remained low for so long, that this generation has no memory of what it used to take to become a homeowner.

Aaron, good point, but I have watched foreclosed homes sit for months with no activity. In my neighborhood, those homes are dirt cheap. It's a nice area, but nobody seems to be biting. Sure, there are a few here and there, but they aren't being snagged as fast as I thought they would. It may be that there just hasn't been enough time for that to trickle through the system, and in the next year or so there will be a ton more rentals on the market. Those homes usually need to be fixed up, so it makes sense that it would take time.

Regardless, I hope our next move is into a place we can call our own. I am tired of renting and this new market isn't making me feel any better about it.

Middle Class Mama

I bought my first condo in 1985. Paid 12% and 3 points and thought I got a monster deal. We bought our first house in 1992. Paid 8.875% interest. We bought the house because we didn't think rates would "ever be this low again!". LOL

I am buying rental property now. We have 30 rentals and find that tenants are of much higher quality now than a couple of years back. I am not raising rents 5%, but keeping good people in place for many years. Financing is very tough to get, so I am using a combination of my self-directed IRA and a commercial bank. I would buy the entire state if I had more money.

My biggest fear is inflation down the road driving interest rates back up over 10%. The way we are printing and spending money makes that a real possiblity.

Oh well, make hay while the sun shines. And the sun is now shining.

Good Luck with your rentals!

Aaron and Nat;

Neither of you seems to have taken into account that the banks are not freely lending as they once did. Having made it much more difficult to get a mortgage is a significant facet in the increase of rental demand.

That and the fact that the public, after the housing fiasco fueled by the sub-prime loans and following real estate value losses, is afraid to invest in real estate for fear of that investment losing value rather than gaining.

A lot of herd mentality there.

Thanks, Gary ! Great for you, and good luck in your ventures !

AHHHH - trickle down in motion. You go from middle class suburbs - to moderate rentals, they raise the rates and down (trickle) the social ladder you slide - off to low rent communities, kiss middle class good bye.

The other side (my situation) of the coin; after divorce I chose to live in a neighborhood that was lower class than what I was accustomed to - because I like a Savings account more than the social perception I may put out. If you pick a lower class neighborhood, pick one in an otherwise upper or solid middle class area - less likely that your children will encounter other youth who accept an unstable environment. Yes; you can totally control and prosper at a lower social level - it isn't why you are what you are, it is about making the best choices of the options you have available. Choices are what make the why controllable.

By opting to live at a controllable level, not only was I the richest guy on the block, I (along with still working with my ex wife) also managed to send my son to college - all paid in full - no debt hanging over any ones head. Now his Medical school expenses are a different story...lol. If you care to contribute call 1-818-.............

I am still amused that the guy in the article considers a 5% increase completely unreasonable.... This year alone I've seen my electricity, groceries, healthcare, gas, insurance, and many other things go up way more than 5%. The landlord should be able to ask whatever he/she wants to charge, and the tenant can say yes or no. If the landlord asks too much, then no one will rent his place. That is called the "free market" and it's the way America used to work. If you think your rent is too high then you are free to move out and find a place that is less costly.

I read one poster complaining that the house he was renting is all paid for and now he is just financing the landlord's retirement. I hate to break the news, but that is the reason a lot of landlords buy houses and rent them out. They know they will have many lean years while the renters essentially pay off the mortgage for them, and then when they retire they will have a steady income stream from the rents coming in. There is nothing evil about it and landlords by and large are fair and provide a needed service (providing housing for those who don't want to buy or can't afford to.)

We have rental property, there are several downsides to having said properties if you get the destructive and rent dodgers in. Then there are repairs, upkeep and most importantly, propery taxes. They have been climbing while property values have declined. Were I on my own again I think I'd get an RV.

Disgusted,

I don't think you read my original comment:

Most renters are like me, or like them, and none of us are going to qualify for those new lower home prices, no matter how much we'd like to.

I am a renter because I would not qualify for a mortgage. There are plenty of people who would qualify for one, two, or even three really cheap homes that they could turn around and rent out to poor saps like me. I *think* that is the point that Aaron was originally trying to make (except he didn't call anybody a poor sap).

Re: Landlords pay taxes; therefore renters pay taxes as part of their rent.

My sister lives in a relatively large Midwestern city. I'm not sure how many apartment buildings the owners have, but the one she is in has 196 apartments. They operate as a not-for-profit corporation, so they do not pay taxes. In addition, over the past couple of years, they qualified for millions of dollars in grants to upgrade the whole building. Once that was done, they announced that they were changing to a for-profit company and would no longer accept any tenants who were receiving any type of HUD assistance. When your lease is up, you're out. So long, suckers!

Things could be worse, this could be the 1990s still, when home prices and rents were still rising by 10% per year, while pay sure wasn't keeping pace. Beginning in 1992 I rented a one-bedroom apartment in suburban Denver for $375, and moved-out in 1997 when the landlord wanted to raise it from $550 to $600, then by 2005 those same apartments were up to $900 per month. Something else about owning on a fixed-rate mortgage is that the mortgage payment stays the same during the life of the loan, while rents keep rising. Except for property taxes and insurance, that $700 per month that you are paying on the mortgage now will still be the same in 15 years, while rents will have doubled or tripled during the same time frame.

Kill Da Landlord...end of problem...eddy murphy rules...

the rent is just to dam high...try'n to get some votes here.... folks...i guess i'll move back under my bridge...dang trolls...

not one vote ....dang it...they need to raise the rent...throw the bums out...LOL

Lets get the whole story here. As a reluctant landlord... I'm renting out a house because I couldn't sell it... I can tell you that it is most decidedly NOT a landlord's market. The bank will only renew my loan for a 1 year term. Commercial rates have risen and minimum deposit amounts have sky-rocketed to get better rates. The banks require a new appraisal EVERY year now... and the appraisers give your house NO benefit of doubt. My rental house was worth $169,000 two years ago. Active competitive listings for that same house are at $140,000. Sold competitive houses sold for $129,000. The appraisal came in at $110,000. The bank wants an 80% loan-to-value ratio. I owe $100,000 so they want $10,000 cash from me to renew my loan. This after effectively losing $60,000 of my equity.

Raise the rent? Yes, I could. But two renters in a row have lost their jobs and took their sweet time vacating (sound familiar).

Landlord market my a$$.

Renters don’t pay property taxes to keep the local economy from struggling. When will it end?

In general, about 18% of the monthly rent that people pay is due to property taxes which have been included in the rent. Renters DO NOT escape property taxes. Last year I paid over $2,600 in property taxes which had been rolled into my rent for the year.

I guess it depends on the market. We have such a glut, prices are decreasing.

However, who wants to move? That's a hassle and costs money too.

It's all about "Corporate Capitalist Greed" and "Corporate Slavery" when it comes to not raising wages along with the inflation.

So as a landlord I can't raise my rents? Why can't I charge whatever the market will bear? That is exactly what occurs in the commercial real estate market. Why should apartments be any different?

Because if someone were able to afford sky-high rent, they could just own their own home. Commercial renters tend to have more disposable cash to house a business, with all the manufacturing jobs leaving and only fast-food to make up for it, one can't expect people to continually be able to afford rent hikes yearly. In my opinion if a landlord bought a house during the boom and then lost value on it, that's their own fault and should bear some of the burden, not just the renter, they're broke already and can't afford to pay for some other persons mistake. Renters are looking for affordability, not to be doubly screwed.

Anon... I'm not a property owner or landlord.

But why should someone else be forced to BEAR YOUR BURDEN? You must really feel entitled to the fruits of anothers labor to want to be such a leech on society.

Landlords have just as much right to raise prices to cover increased costs as well as to make the most out of supply and demand as any other business does. Yes, it makes it harder on everyone who is low income, but you can't blame landlords for wanting to make a profit on their business. If you can't afford the prices, consider moving somewhere with lower prices. I've seen house rentals (in good condition) for under $400/month in some areas, while a one bedroom apartment might be $800-1000 or more in other areas. You can buy a house in many areas and pay under $500/month including all taxes and insurance. There are options if you are willing to consider them. They may not be the best options for you, but they are still there.

Landlords have been picnicking for many years and quite frankly what this tells me is that if the tea party do take hold, they really need to go after landlords and in many cases, take their apartments away from them and put them in jail.I just love hearing the illegals that split rent with the other four families living in their two bedroom apartments writing and calling back their family members in Mexico and telling them about the cheap rents here because they are splitting their rents amongst the other four families and all twenty of them living in their little two toom apartments. Landlords realise this is happening and profit it off it and should be shut down period. Now they are even letting these illegals bring big dogs such as the neighbor I have out front with his rotweiller that jumps up and grabs onto the meatbag handing on a chain and growls while trying to tear it off the chain. I just love seeing my 6 and 9 year old girls walking by this freak to go to school.

Annon - you must be the poster child for the "poor, poor me - I am suffering so everyone else should be suffering too" movement.

If you can't afford the rent in the place you are currently living or looking at renting, then your next option is to step down a notch or two to the level you can afford. This may mean not as nice of a place, but you live where you can afford to live. Trust me, I understand all too well being out of work and being underpaid compared to what I made a few years ago, but that is my problem - not the landlord's! And, if landlord's are grossly overcharging what people are willing to pay in rent, then they will eventually have to come down on their rent or let the property sit empty.

Before buying my first house three years ago, I rented for over 20 years and yes, I expected yearly rent hikes (usually about 5%). It is called cost of living increases. In this area, water and sewage are the responsibility of the landlord, so they usually pay that bill. Those rates went up yearly. Their property taxes and insurance increased regularly. And, the cost of maintenance would go up each year. Those costs are tacked onto the rent. If you think they are not, then you are living in a fantasy. If you were to rent property to someone and not include those costs, then you are just stupid.

And, guess what!?! Even as a homeowner I am still paying for those increases each year in my mortgage and other places. My mortgage payment jumped $85 dollars a month this year due to an increase in property insurance and taxes. Because of the tornado damage (I am in Alabama), I fully expect it to go up again next year. I just have to deal with that.

So, quit expecting the world to shoulder your burdens in life. There is enough to go around for everyone these days. No one needs your share.

Tenants had a nice ride the past few years, they pressured landlords to get their rent reduced, many landlords had to subsidize the units as they lost money. a lot of investor landlords were foreclosed on as they could not afford to do that. Yes in America you are allowed to make a profit, being a landlord is not Charity and the market determines the rates.
A lot of the landlords I work with are still losing money, they have every right to charge what the market will bear.
And it is not just the cost of the place when they bought it, they have the taxes, certain utilities, maintenance, costs of preparing a unit to be re-rented, the huge legal and lost income costs of evictions, Insurance. How many renters cried for them as they lost money every month in the past few years? None. Don't expect them to cry because they are beginning to see a return on their investment.
You can always buy, you can move to a less expensive area or home. Renting is a hole, buying is an investment...and if you have a down payment you can usually buy for less than you can rent after taxes. Sure units lost value in the past few years, but ultimately if you could afford your payments you will do fine in the long run.

Mike... it wouldn't be the Tea Party people that take peoples property away. You'll need to look at the current administration and 'progressives' to re-distribute the wealth.

As for your particular situation, I would suggest you contact the authorities, Animal Control, or the County Sheriff.. If what you say is true, it seems your neighbor is training the dog for fighting and/or as an attack dog. Either of which would NOT be good especially in a residential area and worse yet, where there are children (helpless targets to an attack dog especially if hungry.).

annon, that is just about the dumbest argument I think I've ever read here on newsvine, and boy that's saying something. Basically, "the owners lost money during the real estate bust, so now they owe tenants lower rents". So the owners have to suffer twice, while you suffer nothing. There's this new thing called "education". You should give it a try!

Bill in Houston -

Generally speaking, as a landlord you CAN raise the rent on your apartment house. But sometimes there is good reason for there to be limits on rent raises.

In areas like mine, a densely populated urban center, where there is a chronic shortage of available housing (defined here I believe as 5% or less vacancy rate, although the actual rate here is more like about 1 to 2%), we have rent control. If we didn't, then landlords would be able to charge rental rates into the stratosphere if they wished, and over time an entire community of perenially poor and disenfranchised people (the renters) would be created. That's not in the best interests of the community at large. So allowable rent increases are defined here by law, with the idea that landlords should be able to make a decent profit off their rentals, but should not be allowed to grow rich by renting housing.

Would that we had taken the same approach to bankers and banking.

Bill... so you're basically agreeing with allowing the government to dictate how much you can or can't earn with your own property. Does it matter if they lose money for the benefit of others? Does it matter if they cut corners with maintenance ultimately making conditions WORSE for everyone for the benefit of the few?

When and where does government interference end?

One thing I'm not seeing is people looking for ALTERNATIVE HOUSING. My case in point: Me. Faced with my wife suffering a tragic accident and forcing us into a situation of needing to downsize, sell our *nice* home, pay off debt and go to a smaller home--then after just a couple years, needing to once again sell to pay off accruing debt and moving to an even smaller home...We were about at our end when I discovered Habitat For Humanity. I applied and we were awarded a sweet, SWEET deal on a nice 1200 ft. sq. home on ONE ACRE in the country. ZERO DOWN. ZERO % INTEREST and payments, INCL. TAX AND INSURANCE of JUST $275/MO!! We are on a 20 yr. mortgage and we also got a *free* 2nd mortgage = to 10% of the home value at closing. "Free," meaning we don't pay on it, but the deal there is we reduce that 2nd by 10% each year for 10 years. It's a stop-gap from getting into a Habitat home for such a good deal--then selling at a profit. After 10 years though, that 2nd is forgiven!

There's a large number of Habitat offices across the country! Look into it and see if it's for you and your family! Habitat ROCKS!

*keep in mind...this is my personal example. Other scenarios will be different from family to family, I'm sure. I'm just pointing out this is VERY affordable and leaves ALL GOV'T. lending programs and banks OUT OF IT!

I just love hearing the illegals that split rent with the other four families living in their two bedroom apartments writing and calling back their family members in Mexico and telling them about the cheap rents here because they are splitting their rents amongst the other four families and all twenty of them living in their little two toom apartments. Landlords realise this is happening and profit it off it and should be shut down period.

Want to explain how landlords profit from this? Let's see... assuming there really are 20 people in a two bedroom apartment (I'm sure that's illegal, btw) and they are splitting the rent, then the rent collected is the same. Each person there saves money by splitting it, but the landlord sees the same amount of income... at least from rent. With that many in a single apartment, there are likely to be an increased number of damages that the landlord will have to repair. That means letting a large number of people rent an apartment is going to COST the landlord rather than PROFIT the landlord. Now, perhaps the landlord raised the rent because of the number of people there... but again, damages are likely to be higher, so there probably still is not any profit from such an arrangement.

I don't support illegal immigrants at all, but have nothing against legal immigrants. If they really are illegal, let the authorities know. If not, then you can't really complain about them being there. If there are many in one apartment, then you can let the authorities know that because it's likely illegal to do that. And you can let the authorities know about the dog as well because that's probably not legal either. It comes down to taking charge of improving conditions through legal means (which don't cost you because you're just notifying them) or if everything is legal then accepting it or moving somewhere else.

Absolutely costs would go up for the landlord. When rent splitting takes place, then there needs to be a written areement with the landlord. Pets and insects are costly, too, as there is always some kind of pest contral and carpet cleaning involved due to the pet and or roaches, etc.

The sad thing with rents going up is most people's choice isn't between a nice apartment and a luxury apartment...its between an apartment in a crime-free zone versus one that is in a high-crime neighborhood. And often it is kids who pay the price, either by becoming victims or being pulled into taking part in what is all around them.

Want to explain how landlords profit from this? Let's see... assuming there really are 20 people in a two bedroom apartment (I'm sure that's illegal, btw) and they are splitting the rent, then the rent collected is the same. Each person there saves money by splitting it, but the landlord sees the same amount of income... at least from rent.

The landlord jacks the rents realising he is dealing with this class of families therefore taking the rents out of reach out of the traditional families reach. In reality I will agree that traditional families really do not belong living in what these types of neighborhoods turn into. Not if they value their families safety.

I'm not slamming legal immigrants nor landlords that rent to them. For the most part they do not allow this type of scenario but then again, there are those that do. Generally what happens is a *legal* rents the apartment, then brings in their relatives, at least I always assume it is relatives as that is what they tell the landlord. The landlord then ups their rent 100$ a month per person and it grows. What started out as 1150$ per month ends up as closer to 2000$ with the families splitting the rent for an average of 500$ per. The good news being that once these people split in the middle of the night it takes months before another renter is found. Never understood the logic behind this kind of renting becuse in the end, true, the landlord generally does take the bite as does the neighborhood itself with a much less desirable bunch of tenants.

Marie485962

Exactly!!!

You rental owners are as bad as BIG BUSINESS... it's all about $$$$. I hope some day you are on the receiving end and get screwed over. Too bad all people care about these days is money and to hell with humanity. All of us need more money but how much is enough? You can't take it with you. AND NO I AM NOT A RENTER!!!

... and you care nothing for money, correct? You give every nickel you don't need to your neighbor, correct? Knock it off.

Have to agree with moderate... there's a lot of myopic thinking going on here. I agree that landlords are often slumlords (trust me, I live in New York), HOWEVER, they are carrying the market risk. Their investment could depreciate (and recently, has), they must insure their property (also expensive, especially with rentals), and finance the property. Often times rentals are operated at a loss until the market pushes rents up. Supply and demand says they are idiots if they do not charge what the market will bear... they are literally leaving money on the table. Sorry folks but if you don't like it, move someplace cheaper or save for a down payment and take the plunge yourselves. I just got a FHA loan for a condo with 5% down - it's still possible to get financed as long as you've got your ducks in a row.

For all of those who shout against my argument, why as a renter should i bear the mistake of a greedy landlord because they chose to buy up property that they couldn't afford in the first place because they thought they could make a quick buck by turning it into a rental? (my original argument was against ppl who bought during the housing boom) Go ahead and pay your ridiculous high rents to cover others' mistakes, I'm sorry for you, but I'm not paying for someone's crap interest rates, if I wanted crap interest rates I would have bought myself when the banks weren't paying any attention to paper work or peoples available finances.

Peachy Rose, you sound like one. I don't expect people to shoulder my burden, otherwise I'd hit you up for a hand out. I work honestly and try to do right by those around me, my apologies if I expect the same out of others in life. I believe that people should be responsible for their own mistakes. If a person bought a house for a rental and the market bottomed out, I do not feel that the renter should bear the brunt of the mistakes of the landlord. The landlord should take responsibility for their actions, even if their investment turned sour.

annon calm yourself. No one is forcing you to live in a place that you think is too expensive. However, the landlord has the right to charge what he wants to and it's your right to move. That's it. No reason to rant about it.

I don't get why anyone would think that a given landlord has the responsibility to make his rents "affordable". Where is it written that should be his goal? If you don't like paying your rent, then buy a house. If you can't buy a house, get a better job, or move to a cheaper rental. We live in a market-based economy; a reasonable price is what someone will pay you for a given item. If a rental is over-priced by a mile, it won't be rented. The landlord then adjusts his price down until someone bites. Most landlords can easily survey the local rental environment and make a fairly accurate guess as to what a rental rate should be. There is no reason to blame the owner for getting fair value for a rental, or even if he ends up getting more than that. If you rent, you are not the owner and you DON'T get to proclaim what a "fair" rent would be for an apartment you happen to like.

A fair rent for a given abode isn't established by your ability to afford it. This is America, and you have alternatives to having to pay rent; perhaps you should grow up and explore them.

Exactly!

One should live where they can afford to live. Have you heard the saying "Champagne taste and a beer pocketbook" ? Sometimes you have to rent something you can afford and do what you can do to make it better for you. Been there.....

Because let me tell you a 900 sq ft house on the side of the highway is great champagne! I'm grateful that all of my landlords thus far have been good people.

Granted if it was champagne, the 1920 vintage would be awesome.

I'm a homeowner, but I see the same. I have a fixed rate mortgage yet year after year the payments increase due to property tax increases, even though home values are dropping. Water rates go up, sewer rates go up.

But remember, there's no/very little inflation *rolls eyes*

@PJean

A couple of Question: (1) Do you deduct those property taxes as a business expense? You might want to look over your shoulders for the IRS if you passed the cost on to renters and deducted the cost as an expense too! (2) The same goes for the electric. (3) And, the maintenance, (4) As well as the depreciation. (4) Of course the mortgage! (5) In addition to all other deductable expenses. Just saying!

Charles-1820634:

If the landlord were doing that the IRS would love him because it would just increase the amount of "income" he had to pay taxes on!

For those of you who have, obviously, never done a "business" tax return, there are very few "deductions" that are a dollar-for-dollar decrease in the amount of your tax liability. At best, most deductions are about a 35% (at the top of the income scale) reduction in your tax liability because of the lower income.

Many "deductions" have a "floor" limit as a percentage of income and only amount to a few percent reduction in INCOME!

In short, INCOME TAX is paid on the amount of money "left over" after deducting all the expenses you can from your gross income!

That's how it is, pjean. Increases in property taxes, water rates, and other "new city fees" are tossed on the landlord, who, of course, passes those increases on to the tenant. The landlord isn't putting extra cash in his pocket, but trying to keep his income static to pay the mortgage.

PappaDave & alex s- Ditto! And, very tough 24/7 business!!! I know...

Boomer, I couldn't agree with you more. If the average person had to pay their taxes separately than them being taken automatically, I know people would be outraged. The damn system has lulled everyone to sleep.

1. Income tax automatically taken before you ever see it.

2. Property taxes rolled into your monthly payment.

3. Car registration taxes.

4. Sales tax.

5. Gas tax.

If all these taxes were separated out of the "grand total" and payed separately, then people would realize how much our government takes from us and gives it away.

These cost increases have always been passed down to renters and consumers. It's just that now unemployment is so high and it makes it difficult for those trying to get by.

Taxes are a fact of life, and are in fact a reasonable fee to pay for living in a country with first-rate infrastructure, strong and relevant education, meaningful and appropriate military and law enforcement, an effective and well-governed judicial system, and a social safety net that, as in any civilized society, prevents people from dying homeless and penniless because they got old, sick, or hurt.

Alas, our anger is growing because we see that so many of these things aren't happening. Instead, we see the tax burden shifting inexorably away from a reasonable balance. We see a corporate tax rate that is ridiculously high, but actual taxes paid by some of the most profitable companies - those that have reaped the full benefit of the US's infrastructure, subsidies, etc. - near or actually zero. As more of the benefits of tax dollars go to institutions that have looted the public treasury, our anger grows all the greater.

However, the bigger problem is partisanship. Most people treat politics like a spectator sport, rooting for one team over the other without any real thought or regard to why that's so. So people who root for the Republicans - typically in direct contravention to their financial and economic self-interest - HATE the "left" (without recognizing that there IS no left remaining in the US) and all Democrats with an abiding passion that is hard to fathom, let alone describe. Meanwhile, ardent Democrats hurl invective and ire at the Republicans.

The result is increasing demagoguery and a vicious circle of increasing gridlock and incompetence in government that reinforces the increasing demagoguery. Right now we are totally trapped in this circle, and frankly, the press (owned entirely by institutions that benefit from gridlock, poor governance, and "corporate welfare" programs) reinforces this circle not only because it's good for the long-term health of these institutions, but also because hate and fear delivers the audience to their advertisers.

Long story short: the country is in fact becoming ungovernable, by the design of those who govern it. It will probably be ten years or more before it happens, but civil war is coming.

Please cite your source for "75% of government expenditures is waste and criminal activity".

Wakeup - Please don't confuse us with the facts. Remember Washington thinks all our money belongs to them.

Why pull the wagon when you can ride for free with food stamps, welfare, housing allowance, unemployment benefits, free health care and on and on?

Your list of taxes was only a starter as there are many many more than you failed to list.

Your right boomer! Your generation spent beyond their means both public (14+ trillion national debt) and private (lowest personal savings rate in the developed world). Now that your generation will use all that left in the social security "trust fund" (its not really a trust fund, you've already spent it ) you need to find more to consume... Lets lower the taxes to rock bottom so you can retire in relative luxury while you pass off to your grand kids infrastructure that will be falling apart too. BRAVO!

Bill, being on welfare with food stamps, etc is the MOST humiliating thing a person can go through. As a child I was raised on welfare and it was bad enough there wasnt enough to go around, keeping one's head up was another thing, especially in school. I for one will never go back to that as it is hard enough to be on unemployment, over fifty knowing you've out lived your usefulness in this world and facing homelessness. I have news for you. Not EVERYONE qualifies for welfare, food stamps, housing allowance unless you barely speak english. That's ok, I've been here before, Im an AmeriCAN not AmeriCANT. I for one will not allow those who mishandle this country signing our land and rights away, who lead us astray in the flood of propaganda. Telling me who I am and what my worth is. Im sick and tired of greed and I for one will stand up to the encroaching tyranny they are now calling our new freedom. Forced vaccinations, high food prices, inflation. We've done this before and we can do it again and stand up to this and just say NO MORE. No more of this hopey changey thingy.... NO MORE... WAKE UP AND RISE UP PEOPLE!!!!!!!!!! NOW IS THE TIME!!!!

Taxes are a fact of life, and are in fact a reasonable fee to pay for living in a country with first-rate infrastructure, strong and relevant education, meaningful and appropriate military and law enforcement, an effective and well-governed judicial system, and a social safety net that, as in any civilized society, prevents people from dying homeless and penniless because they got old, sick, or hurt.

Where have you been living? That may have been true 40 years ago, but I'm not seeing that today.

First-rate infrastructure? Funny, last I heard that's literally falling apart all over the place. Gas mains exploding, cascading blackouts in the power grid, bridges collapsing, damns and levies not being maintained... We built all this stuff, but didn't set aside a single cent to maintain it, now we can't afford it so it sits and gets worse year after year.

Strong and relevant education? Maybe I'm getting old, but I swear kids coming out of high school know less and less each year.

Meaningful and appropriate military and law enforcement? I won't argue too much with that, although the prolonged operations in the middle east have drained the budgets so much that the defense department is spending less on R&D and more on how to fight terrorists. That won't help when a nation(s) with an army decides it's time to challenge us.

Effective and well-governed judicial system? I'm going to sue you because I hurt myself breaking your window to rob you (and win!). Because that's an effective and well-governed judicial system.

A social safety net? Sure, when it's not being drained dry by illegals. If I lived in a third world country I'd certainly break any law to get here and get paid to do nothing and give nothing in return.

Cap'n, I admit that I wrote a rather lengthy post, but still, you have to read beyond the first paragraph to understand it.

Well said capn

Jack Mack says "and a social safety net that, as in any civilized society, prevents people from dying homeless and penniless because they got old, sick, or hurt." I don't know what country you live in, but here in the U.S. when I got sick and couldn't work anymore, I tried using my Social Security disability insurance that I'd paid into my entire adult life. They denied, denied, denied because I don't have money to pay for medical care to prove that I am sick! I have filed bankruptcy while waiting on my hearing - 4 years so far, 3 hearings and more to go (yes it's only supposed to be one, but SS can't deal with people with a hearing loss - even though according to them it's not a disability), lost paperwork and total incompetence - they requested my medical files using the wrong name and then said they had all my medical records (but didn't and I no longer used the doctors so my records were destroyed.) The people who have to pay up on my claim are the ones deciding if I have a claim or not. SS is a classic case of the fox guarding the hen house. And now I am homeless and penniless with no medical care and my health is rapidly failing. Death will be welcome compared to living like this.

Overall tax rates have remained in the same range for many many decades. The lie of cuts is they cut one place and shift the burdens to another. Income tax cuts result in lower Fed payments, then the local/state taxes and 'user fees' rise.
Cutting taxes has been a canard foisted on you by politicians
But your overall tax rate has remained in the same 40% range for 50 years+

Taxes as a % of GDP have been 26%-28% every year for the last 30 years.

You will find sources that use different definitions, but the fact is the overall has not changed. Some Conservative sites will tout the marginal rates, but I am talking what is actually paid. As a higher income individual, I pay on the top rate, but I have a lot more deductions. THis is why I rarely complain about what I pay.

Andrea - very sorry to learn of your situation. As with Cap'n, I admit I wrote a lengthy post, but you have to read beyond the first paragraph to understand it. What you express goes directly to the point I am trying to make: taxes are a reasonable cost of living in a society that really works. We are angry because we see that ours doesn't, and thus we perceive that we're being ripped off.

I'm sorry I wrote something inconvenient for people to read and comprehend. One would think I would know better by now.

Well when it comes to taxes, I will agree with franklytrue. Here in Florida, the politicians touts cutting taxes. However, look at your phone bills, electric bills, household bills, and god help you if you buy a car, house or other necessaries. Then there are property taxes: According to the valuation system, my house has lost more than $60,000 since I bought it over 8 years ago. But, the county property appraiser says it's worth more than it was; artificially hight to keep the taxes rolling. I guess I'm luckier than some, since Florida don't have an income tax.

Politicians need to stop the tax FUD, misleading the natives. If you don't pay taxes you don't get services! Maybe this is the reason that we have some of the worst roads in America, within Florida. Plus, people here continually complain about taking too long to conduct business, and bad this or bad that, while at the same time carrying the water for the "no taxes mafia." You'all figure it out; my head hurts!

Andrea-3119814....Obama went to Puerto Rico today....Unemployment is like 17%....but that's OK because in Puerto Rico over 98% of Social Security Disability applications are APPROVED.....before long the whole damn Island will be getting Disability Checks....perhaps you should go reapply there....Pretty sure 97% don't have any medical records.....

Charles-1820634.... Did you Homestead your house ??....I have had a similar decrease in the value of my home, lucky for me it's paid for....my Homestead-ed property taxes are $55.00 month....I ain't complaining. I'de much rather see these "user fees" and other taxes than go to a State Income Tax. I pay fees and taxes for the things I use. For example, car registration fees are a bit steep in Florida...I think I paid $92.00/yr....to lower them, there would have to be an income tax and that would make people that don't have a car subsidizing my ride, and that ain't right...I don't know where you live but the roads here in Palm Beach County are top-notch.....I'm from Pennsylvania....now there is a State with Krappy roads !!!

To Wakehead - please read my post - I have worked in government contracting - I actually believe - based on personal experience - I was too conservative. When the process of purchasing less than $100 work of connectors costs over $10,000 (a figure which people using rose colored glasses will not believe - I was there and it was difficult for me to believe) that is not waste it is criminal fraud. When my 86 year old father in law was billed through medicare for the services of an OB/GYN and when the government medicare lacky was notified by me of the error I was told it would cost too much to investigate so we paid it. (forget the fact that this is fraud and should be investigated-little bit like illigal aliens (people who are in this country illigally) having free schooling, medical care, SS, and other perks over 900,000 of our own native born kids can't have - including roof's over their head.

Medicare fraud = ~$200B/yr do they go after fraud no they want to kill the program. Bit like the flat lander killing the chicken for making noise in the morning then bitching because guess what - he doesn't have eggs for breakfast! DUH!

I simply would like people to get their heads out of their collective arse and look at what is going on inside the beltway, that is all.

I suggest each of you take your last year's gross income then deduct all taxes, fees, service charges, sales taxes, property taxes, (ALL TAXES) then look at what you are actually living on. OBTW don't forget to deduct the taxes on the bottle of asperin you will need after you do so. I did - the typical total tax for a more socialistic nation runs between 40% and 50%. My tax load is over 60%.

To those who blame us "boomers" keep in mind corporate america and our government have allowed high tech jobs exported to india, china, mexico, etc.

We also pay 5.6% GDP on not "national defense" but "international defense" while the balance of NATO nations pay between 1% and 2%. of GDP. On top of the 5.6% we are paying the lion's share of what is it now 5 wars.

Like I said look at the impact of this idiocy - get your heads out of your arse and start thinking about the nation not your own selfish self interests.

Bingo...Boomer....the waste, fraud and abuse of all the tax dollars is criminal. 2012 will decide if we even have a chance of surviving....the current path is to a completely different country....He said what he was going to do.....

" We are 5 days away from fundamentally transforming the United States of America".....

http://www.youtube.com/watch?v=xvJJP9AYgqU

And the "fundamental" he was talking about was The Constitution....only nobody, especially the "press" even bothered to ask what he meant...

I would love to see a breakdown of 60% taxes. Mine are maybe a 4th of that...

Jack Mack, I almost did what the others did and after the 1st paragraph I scoffed and almost replied, then I decided to read on. You have many great points about our nation. Sadly this country has everything cut to the short and sweet of the matter and the essence of the message is lost.

Land Lords are not exempt from Price Gouging laws.

@Sadiebits-MD,

I'm in Towson and my rent has gone up about the same amount over the last three years. We'll probably leave the state in the next three years. Maryland's a place where you pay a lot to live here but don't seem to get much in return...just my opinion.

Maryland? No wonder! Look to the south of you a few block, there is largest assembly of crooks (535) known to mankind and you wonder why your rent goes up.

They are just keeping their peasants in check.

It sounds like the market is taking care of that place. Eventually, the landlords won't be able to sustain their gouging, and they'll have to sell or go into foreclosure.

In California we just drop trousers and grab our ankles. Most are leaving, I probably will follow soon.

@FED-UP,

There are a couple of other dens of thieves one heck of a lot closer than that: Baltimore City Hall and the state capital, Annapolis.

I stopped wondering why this stuff happens a long time ago. I just wonder what things will look like when that last straw breaks the proverbial camel's back...

And all these Storms, flooding and drought caused by the republicans is not helping.

As I said above, we should start checking their tax returns. If they are passing the increases to us and then deduct them as an expense on their tax return, then they are gouging us twice! We already allow them to deduct all their expenses as a thank you for running a business. By the way, those empty units that no one rents, they get a deduction for those too. Then someone said something about welfare; must not really know what welfare is!

ANY business deducts their expenses... you only pay tax on the profit you make. So yes, if your expenses go up and you don't raise the rent, then your profit goes down.

And those empty units they get to deduct? Well obviously they're not making any rent from those, so their income is down thus their taxes as well. This is how businesses work. And believe me, they DON'T want empty units.

If your tenants do not pay on time, I wouldn't call them great tenants. Do you tack on late fees?

Agreed. Tack on late fees. Of course, you can't change the lease agreement until it's time for renewal, but definitely add that in there when each tenant renews if it isn't already there. If it's there, increase it some. Make them want to pay on time. If they really are great tenants with regard to everything else and they have some reason why they have to pay late, you always have the option to be nice and waive the late fee. But you definitely have every right to be paid extra if they are late. You might also consider setting monthly due dates a week or so before your mortgage is due so that they can be up to a week late without it affecting you paying the mortgage.

So far, I have had great luck with landlords, so I am going to agree with you. I take rent very seriously because I need to have a good reference and because I take being on-time with all of my bills very seriously. Good tenants pay on time. My current landlord is letting me out of my lease early (extenuating circumstance) out of the goodness of his heart and because (in his words), he hasn't had to worry about getting the rent on time for as long as I've been there and he feels a sense of appreciation toward ME. It's time to change your lease terms if you are not getting paid on time.

Nat...same here. I had a landlord refund the entire, non-refundable, pet fee because the place was cleaner than when I moved in. He couldn't even tell I had cats in the place. He rented it back out less than 2 days later.

Why some tenants feel the need to trash a place is just beyond me.

Maria, your mortgage payments are due at the End of the month, not at the beginning. At the closing, when you bought your apt. bldg., that should have been pointed out to you. Landlords pay for the past month, tenants pay for the oncoming month. Plus landlords have a 15 day grace to make their mortgage payment before it's listed delinquent.

That's why we cut our consumption down as far as possible - they need to feel the heat.

We may also consider stopping the tax deductions. Why should businesses get to deduct their expenses for their work and the average Joe cannot deduct his expenses. I heard of some $40,000 a year businesses riding in Escalades that they afford through that generous tax deduction. When I work I have expenses but cannot deduct them. Congress could pass a bill this evening that would put billion of dollars back into the government coffiers with one stroke of a pen!

... and then rents will double or triple.

Great idea Chuck.

It doubling and trippling now, so some says, whats the difference?? Ultimate Idea!

Chuck... no they are not tripling 5% is not triple, 300% is triple. Learn some basic math, Chuck, then save some money, improve your credit and buy something that's cheaper per month then rent and sit back and go "haha" to the world. Whining because people aren't going to hand you anything on a silver platter is not going to enrich your life.

They're happier than the people that didn't and in 2012 it won't get any better for those that don't vote for Obama :-)

Jake - Please put down the kool-aid and that joint and use your head. If you want more massive debt and high unemployment then vote for your hero Obama in 2012. The majority of us will be voting for anyone that opposes him so you will be actually voting for a loser in more than one way.

Really Jake, really? So I guess 9.1% unemployment for several years, an average of a $1.50 higher in gas prices now compared to when he was elected, higher food prices, and a housing market about to crash again are good things to you. Do the USA a favor and move to Europe. They have millions of people that think like you and I hear they are doing really good right now, especially Greece.

Jim better go back and read again...Prices have not gone back to the '07-'08 hieghts....Shoot isn't that Bush era????

That is Bush era, but '07 is when the democrats/socialists took control of both houses and increased the federal budget in every sector, which in turn, created the recession/depression we are in now.

http://en.wikipedia.org/wiki/2007_United_States_federal_budget

Nov 16,2008: average gas price in US is $2.10 per gallon.

June 14,2011: average gas price in US is $3.71 per gallon

Energy Prices will necessarily skyrocket

JimiMadison

And Bush just rolled over and let the Dems just run roughshod over him. If I recollect correctly he vetoed everything the Dems tried to pass.................. Nice try though.

Plus, when asked about how much should be spending on the war in Iraq he replied, " Whatever it takes." No one in his party challenged him on this. Whatever it takes for Iraq but American be damed! I Get it, Republicans!

He could have vetoed it, but it would have been over ridden by congress, plus he needed funding for the war. I guess in your views, the socialists can raise spending to no end and we should have pulled out of Iraq and let it become a terrorist haven. Good try Major (DB) Tom.

JimiMadison

You are delusional like most repuks I know. First you need to look up the definition of a socialist. Just because liberals advocate for social programs does not mean they are "socialists" any more than being a republicain makes you a member of the KKK.

Here's another problem you have, you get your news from FIX news et al.
Iraq was never a terrorist haven and isn't today, except for the ones we drew in once we started the war. You can't see past the total bull@!$%# the right wing media regurgitates daily. Saddam Hussein hated the taliban, al-Qaida, and Iran. Saddam Hussein wanted to bomb Iran out of existance and we helped him for many years, he was OUR Pitbull in the Middle East. Now that we killed him, now look at Iran!!!!!!!!!!!!

FYI: Bush left office and our National Debt was 10 Trillion Dollars and the US economy was on the brink of total collapse. BOTH, the Bush and Obama economic experts said the SAME thing" either, Bail Out or Crash and Burn".

Now that Obama has had to spend 4 Trillion Dollars just to keep our economy from total collapse it's his fault........ yeah right. You probably think that if a Republicain were President it would be better huh?

The majority of us will be voting for anyone that opposes him

Yes, but that'll just split the vote, because a lot of us aren't about to let a Teabagger in the Oval Office. So Obama WILL get a second term.

#1. First and foremost ..... LEARN HOW TO SPELL "LOSE"!!!!!!!!!!!!!!!!

#2. You're right. Renters ARE telling landlords to "shove it" and going back to the housing market. I'm one of them (rent went up to almost $700 from $550). I view paying a mortgage as paying yourself. Paying rent, you're just throwing it away. Right now is the time to buy anyways. Housing market hasn't quite hit rock bottom, but it's darn near close enough. Renters, BUY NOW!!!!!!!!!!!!!!!!!!

md22mdrx

Unfortunately, housing prices are nowhere near the bottom. There is currently approximately a three year 'supply' of units available for sale. That amount does NOT include the units already foreclosed on which the banks and mortgage companies have not put on the market. Nor does it include the number of units to be foreclosed on in the coming three to five years as the economy continues it's downward spiral, and more people become unemployed or under-employed.

I'm not positive there is still time to save the economy. And please understand that Wall Street is NOT the indicator of the American economy. Wall Street represents the global economy with a minimal emphasis on the American sector. Main Street represents the American economy with minimal emphasis on Wall Street. The majority of Americans aren't stock holders (with the exception of IRA's and 401k's) and are just struggling to survive. Until America gets a revitalized manufacturing base, I fear we will continue on a downward economic slide to oblivion.

You forgot to add all the laws that protect the deadbeats and the cost associated with the legal business of due process and removal. In some States it is very difficult to get rid of tenants (even after the last month rent). In some cases law enforcement is necessary.

There is that vacancy time, for clean up and restoration to prepare for the next tenant, who do you think pays for the non-productive time the owner?

I sold my rental properties (thank goodness) it is not worth the hassles and worries. Good renters are becoming harder to find, as the article says most consider themselves victims and the landlords are getting rich off them.

I've been a renter for a very long time now. I certainly see both sides of this issue. I know a number of people who have been landlords who have had horrible experiences with renters including destruction of property, unpaid rent, etc. One renting couple who, in addition to leaving the place they were renting in an uninhabitable shambles and with back rent due, took every last thing they could take out of the apartment when they left including every door that did not lead to the outside.

On the other hand, as a longtime renter, I've dealt with landlords who cannot be bothered to do basic service to their own properties. I am a great tenant. I always, always have paid my rent in full on time. I don't cause damage, I don't cause problems for the landlord or other tenants in a building, I don't have unrealistic expectations of what the landlord is supposed to be doing for me/my apartment. I take pride in where I live, even though I'm not a homeowner, and I want to live in a place that is pleasant and peaceful. I've had good relationships with most of my landlords, but not always, as there are some landlords (or the management companies they hire in their place) who just cannot be bothered to do any maintenance unless there is an emergency. No upkeep whatsoever. In one place I lived, after a skylight in the common-area stairwell was broken (not by tenants) the management company put a blue tarp over it which stayed there for 9 months, though eventually both snow and rain would find their way through. There was snow on the indoor staircase and the management did nothing—and that's just one of many examples of their neglect. There are too many to list.

Don't put all renters or all landlords into one category. There are lots of good and bad in both. Unfortunately. I'd love it if all the deadbeat renters would find their way to the horrible landlords. Then those of us who want to be reasonable and responsible (renters and landlords) won't have to deal with them.

To be fair, we live in a very nice development, and the management makes sure it stays that way. Heck, when the oven "blew up," they had a new one in here in three hours...

The rent is getting kinda pricey, but it's the rest of the crap that goes on in addition, in this state, that's pushing us out of here.

Beats communism. Don't like it, go live under a tarp in Montana.

Who said anything about communism? Ever heard of a crown corporation? Look it up. How about a utility? You think utilities are communist?

You do make a good point. It costs more to maintain rentals as does it cost more to maintain a house...But the laws of supply and demand state this cause and effect (depending where you live). Apartment rental demands are much higher therefore the price will increase, as long as there isn't a boom in apartment building. Which, in DC where I live there is not...

Back in 1989 I rented my first apartment for about $425 per month. It wasn't some rat-hole either, it was well managed, had clean grounds, on the edge of a metropolitan area. Over the years I noted that rent always went UP, never DOWN. Now I see similar apartments in the same area renting for over $900 per month. Some rent increases might be tied to the mortgage disaster, but clearly the trend was to increase rent even if the initial cost of the housing had been paid off.

@Bertfw - Just out of curiosity, if you bought a home for $100,000 and went to sell it 10 years later and it was worth $200,000 would you try to sell it for as close to $200,000 as possible or figure since you paid only $100,000 for it that's what you will sell it for?

Remember landlords 'sell' a product too.

Paranoid?

Actually there are laws where they have to make hte houses habitable.

No, ownership is not a "right". You must have the means to obtain a place to live...

Bill in Houston- So you have a problem with Gov't housing aid? The troops you should support and praise for the protection of this country rely on much of that same assistance. Are you going to give them somewhere to live while they are making pennies. It seems you keep mentioning housing aid like you know what it is about. It's security if something happens to your income. Yep I get it, I also work and pay taxes and give back to the community. I like the housing aid not because it pays but because it keeps my landlord honest. The property gets inspected yearly for safety and quality issues and there is no threat of bogus property damage accusations. My landlord the great person she is would not repair a thing without this oversight despite the fact that I pay over 2 grand a month rent. I make the repairs even though I don't have to and we are not talking damage repairs I'm saying I have had trees removed after storms and replaced appliances when they go out. This should be my property I take all responsibilities so that she does not get behind in her personal mortgage that is tied in with mine and loose both places. I see you are representing the all American state of Texas so I am safe to assume that your horse is a little high maybe you should take a step down once in a while and exhibit some all American understanding. Isn't that what this country is supposed to stand for. Karma is a mug don't look up and need something from somebody.

Oh and about Obama, not matter who was manning the controls it is just a representation. He is there to look like the system works and we all know it does not so get over it. Look back through your economic history this has been a long time coming. Obama just wasn't afraid to take the blame, progress is trial and error. We vote for people based upon what we can find out in time for the elections, we are supposed to be kept in the dark or we would know the who's running well in advance and we would choose them not them choose us. Almost anybody can run and we have to pick one of them. Anybody that trusts another person to have their own best interest in mind needs to be in a mental institution the world just is not like that and never has been. I am sure everyone has heard the saying what goes up...I guess from the sounds of it, it is your time to come down some and you can't deal with that.

Here! Here! Well said!

Or better yet, treat it like a home you're going to live in. Treating houses like investments is a good part of what brought on this mess in the first place.

Yes... common misconception. Most people believe a house is an investment... it is NOT. An investment is something you can sell almost anytime (liquidity) when it has appreciated enough and make a profit. You always need a place to live, so even if your house goes up in value and you sell it you will need to put that money back into another place to live, and by that time all the houses you look at buying will have also appreciated.

@erockaustin - um, no. An investment is not defined by its liquidity or its appreciation. It is simply a capital expenditure paid into something which MAY appreciate, with the hope/expectation of realizing a profit at a future date. Real estate is an investment when it is the intent of the purchaser to earn profits from rent, tax incentives and/or appreciation. Period.

I enjoyed the "common misconception" line to signal your authority on this... thanks for the chuckle!

Regards,

A Real Estate Investor

Remember, every family that moved out of a foreclosure, now lives in a rental. And the fact is, investors are not buying up property as fast as it's being rented. If that were the case, there wouldn't be as many foreclosures for sale, and home sales in general would be through the roof.

Understand that. I grew up in Connecticut and still have relatives there. They paid off their home 20 years ago, a single level ranch style built in the 40s and their property taxes are $8,000/year.....they haven't upgraded anything in probably 25 years other than replacing carpeting.

Even in the less affluent areas of that state you have to be independently wealthy to afford a home. Connecticut is the tax capitol...they always have been.

And yet the government continues to raise taxes and fees on the landlord. Someone has to pay for it.