So invent time machine to go back to before the purchase and don’t do it. Got it!

You do realize that not that long ago much of the now "good housing" was often "shit housing," right? Also, without those much maligned flippers there wouldn't be "good housing." There would still be "shit housing" that nobody wants to live in.

A larger entity would have even greater tolerance for such circumstances. U continue to fail to understand that there are more options than just selling secondary properties when times get tough

The good housing absolutely does not exceed demand. That’s why prices are so ridiculous right now. And a large part of that is people who rent.

> Cheap houses would be significantly cheaper if there weren’t people buying them as money making opportunities. If you cut a large amount of demand out of the market prices go down.

This doesn't happen in Baltimore the same as cities like Seattle, Austin, etc. The housing inventory in Baltimore greatly exceeds the demand. Having talked to people who flip houses, the profit margins are muuuuuuch smaller than you are imagining. It's not necessarily restaurant industry levels but the small time home flippers aren't living lavish lives.

There's also a floor in the cost of housing if you want to pay people a living wage. If you want laborers to make more than minimum wage there is going to be a significant cost increase in homes. Everyone's all about increased wages, right up until they're on the hook for paying the cost of those wages.

Also, if you want REALLY cheap housing that does exist too. You can score some dirt cheap places in meth-ridden Appalachia. But I suspect you want more than just cheap housing. You want cheap housing in a nice area that is convenient to things you enjoy and job opportunities. Just like everyone else. That increases the cost of things, even before any notion of profit.

What you're describing is exactly what I'm saying is stupid - wealth accumulation and profit seeking being tied to a life necessity, housing. No one should have to scrimp and save to put a roof over their head and then immediately be incredibly fucked when they experience hardship.

I agree and said in my comment “in practice discrimination … occurs.”

I have. I’ve also seen the rent prices spike.

Cheap houses would be significantly cheaper if there weren’t people buying them as money making opportunities. If you cut a large amount of demand out of the market prices go down.

> The tax loopholes and long term value of real estate make this game too appealing even with increased risk.

That's definitely not what I found when I looked into landlording. The realistic returns were not that great relative to the risk and hassle. Maybe for big institutional investors it's a different story but being a small time LL was a high-risk nightmare.

Lucky!

Not relevant.

That is not happening. The tax loopholes and long term value of real estate make this game too appealing even with increased risk. The cost of housing is going to push more and more people into the rental market so tenant quality will remain solid in most areas.

I made some creme brulee pancakes this morning and they were awesome.

Ok. Well then sounds like those property managers and owners are engaging in illegal housing discrimination. Good luck and have a good day.

> discrimination

I've seen discrimination on protected categories in the workplace several times. I saw someone get fired because he was black (long story but that's the tl;dr). But it was framed as his position was made redundant. I've seen women be dismissed in the hiring process because "someone else was more qualified." And nobody knew who that someone else was. Discrimination is very much alive and well, even when it's illegal.

Reddit definitely has a fair share of people who make poor financial decisions and then feel like everyone should bend over backwards to accommodate them. And if you're not personally benefiting them in the way they feel they deserve you are an evil landlord/capitalist/whatever. Entitled babies.

I've had property managers and owners say, no section 8.

I've also educated them on it. This however was about 4 years ago. I don't know how it is here in MD.

I do know in Howard and Montgomery County, ppl are still blatant about it. I guess until HUD cracks down it'll stay like that. Plus NIMBY and all that.

Stevieeeeeeeeeee 😍😍😍😍😍😍

Thanks for this clarification about what you meant. Sounds like we agree that in practice, discrimination based on voucher status occurs. My point was to be clear that landlords can’t simply “not take vouchers” in Maryland. Several of those methods you listed are simply ways to circumvent the law (some more sneaky/hard to prove than others) and in the right circumstances you could have a valid case of housing discrimination.

ASL

Let me give you a situation here:

Brenda and Lisa buy their first house. It is tiny and they really have to scrimp and save to afford it, but it is theirs and they love it. Within the first few years of owning the house, Brenda loses her job in her niche field due to a recession. After months of unemployment she finally finds a job, but it is several hours away from their home. They end up moving away for Brenda's job.

At this point if they were to sell the house they would lose $20,000 due to the current market and real estate agent fees. They are not in a position to take on a loss like this -- especially with the debt they accumulated when Brenda was unemployed.

You are telling me that Brenda and Lisa should be forced to take on a $20,000 loss or be taxed heavily? That they shouldn't rent out their house to cover their mortgage while they try to recoup their losses? That they are bad people for being landlords?

I have never owned property but would one day like to own my own home. For now, my husband and I rent a wonderful rowhome at an amazing price with a back yard for our dog. For the same price we could rent a 1 to 2 bedroom apartment with no outdoor area. We would not be living in Baltimore if we could not rent a single family home.

Vote with your feet. It’s a shitty policy.

Yes, on the individual level people will make that choice.. When you look at the market at large, which is either growing or shrinking, there is no pause.

The entire market doesn't go on hold because the people you know are on pause. The larger market influences people at decision points of where to deploy capital.

Your friends have deployed capital and are willing to take a short term loss for a long term gain. (Likely forgoing gains already incurred). Some individuals are choosing different areas of the market to invest in. Some individuals are getting out of the market entirely.

Again you are having trouble separating personal experience from market forces.

Choosing to not buy it is also an option and a better one.

Just because there are worse options doesn’t mean it’s a good one.

Have you seen recent mortgage interest rates? A cheap house's monthly payment is now easily an additional $300-500+ per month solely due to increased interest rates. And you're still on the hook for for repairs. The value proposition of new home ownership is currently fairly low.