Recent comments in /f/newjersey

nathanaz t1_ja8w2fr wrote

I 100% agree that there are people out there getting edged out of the market to buy a house, and that sucks. I’m old enough to have seen a few cycles where the real estate market ebbs and flows, and right now is one of those shitty times for buyers. Has to be completely frustrating.

It seems like there’s a significant and important role for landlords though. Many people (young people, people who move around for jobs, growing families, older folks etc) want to rent and not buy, and I was just curious what the vitriolic ‘landlords are evil’ people thought in terms of that piece of the market should be handled.

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Rude-Bison-2050 t1_ja8vfhu wrote

that is super dependent on where but generally the closer you are to NYC/PHI, the more options you will have.

the most dense parts of the states (in particular, the north east heading to central east parts) are well covered by train, light rail, and bus. I have lived in passaic, essex, and bergen counties, the majority of cities/towns there will have very good coverage.

if you go to the more rural parts in sussex or south in the pinelands, your options drop quickly. Do not live in rural NJ if you do not have a car.

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nathanaz t1_ja8v5l3 wrote

Yeah, I hear you. I don’t lease property to anyone, but I think I have a decent understanding of the business model, and I don’t think most of the people who express the ‘landlords are evil’ sentiment understand that landlords are risking their personal capital (in the case of non-corporate owners) so there has to be an incentive (profit) or nobody would ever do it.

I definitely believe that there are tons of unethical landlords and tenants, too. We thought about buying a duplex or triple as an investment but I just didn’t want to deal with all the headaches, such as the things you mention above.

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rewardiflost t1_ja8uj5l wrote

Well, there are some transit lines in several parts of the state. But it is not great coverage, it doesn't always work overnight, and it may not even be straightforward to get between two points without traveling to a hub like Newark or Hoboken first.

NJ Transit is the system. Here's the train and light rail line maps

Here's a list of bus routes with links in the reference section to unofficial bus maps and the NJ Transit query system.

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brantlyr t1_ja8tt7i wrote

FWIW I don’t think OP is being malicious or evil. Like I said someone has to rent properties and an individual owning a single extra property as an investment is likely the least exploitative way to go about it. I think bigger companies buying up multiple properties is the main problem!

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briinde OP t1_ja8taxe wrote

He thinks he’s doing good for these people (supposedly paying for tuition and medical expenses). He cannot be convinced otherwise, every single member of his immediate family has tried to tell him from everything form a compassionate standpoint up to and including yelling at him eventually once you can’t even make an inch of difference in his thinking.

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brantlyr t1_ja8t72g wrote

From what I understand, part of the issue is the current rental market is WHY people can’t afford to buy a place, for several reasons.

First is the rush to snatch up these properties by big investment groups or even individuals looking to add rental properties to their portfolio inflates the cost of homes due to the crazy demand. People dropping tens of thousands + on top of asking price in cash for a home is not normal and your average joe can’t compete. This goes unchecked so large groups can acquire enough properties in an area that they can inflate rent prices how they see fit to an extent.

Then because of the high prices for rent which is honestly insane in parts of NJ, people don’t have extra money at the end of the month to put away and save for anything, let alone the down payment on a home. This can have ripple effects in keeping a person tied down to a job because of the inability to move, or forcing people to live so far from their place of work that they have a ridiculous commute everyday which also has its financial consequences.

Obviously someone has to rent property, but the “business” of making a profit on keeping a roof over someone’s head is out of control

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