this post was submitted on 18 Aug 2025
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Who rents that for 72'000 $ per year? At that point you are throwing away your money and most definitely have enough to actually buy a home.
have you seen how this works? i know this is a parody post but it’s real. Rent starts “ok” then the “market” (which is just this guy with 6 props) says rent can be higher. So it bumps. Then inflation. Then covid. Then “market” again.
While the owner know how his tenants salary is tracking, keeping sure to raise the rent by enough to keep him there but not so much he bails.
it’s not the renters fault they need a place, even if one says “yeah but they overspent.” Not initially, no. Maybe some. Tough nuts. But often it’s not initially overspending.
Then again capitalism itself relies on and markets for people thinking they “need” more than they do; the owner of the props is counting on it.
Landlords are scum and deserve nothing.
Andrew Cuomo bragged about renting for $96k/year
You don't need a 20% down payment to rent a home. That's the big hurdle, as housing prices have ballooned
Pre covid, I was pre approved for a home. I had lied and told them I had $3K for a down payment.
I couldn't save three grand. Rent was 40% my income, as was childcare. I made $20/hr in a "grown up" job, the type of work my uncles and aunts and parents bought houses with.
The gorgeous $167K dollar house (2016) who's only down side was it was 45mins from work, .. is now worth nearly $600K. I'm jealous of whoever ended up buying it that year.
Would have been nice to own, but a bitch to pay property tax on.
That's the dagger in the back for gentrification. You live in an affordable area. Then someone builds a mega-plex next door and the municipal tax authority says your bungalow is the same value as a McMansion in the 'burbs.
Nobody will actually buy your house from you for $600k. They'll buy it for maybe $250k if you're lucky. Or they'll wait... knowing the 3x tax price will put you into foreclosure with the next market downturn.
Yeah, my mortgage has increased nearly $200/m in the last 4 years from rising taxes on my house.
And that is after having already paid extra to help bring down the balance. The taxes ate the extra and then some.
You don’t need to put 20% down to buy a home, either.
Homebuyers can get a conventional mortgage for 5% down (technically as low as 3% down, but that would limit their options for lenders and require a much better credit score) or an FHA loan for as low as 3.5% down.
There are USDA loans that require 0% down, though they have income maximums and for homes in rural areas. I read that they also have square footage maximums (1800 square feet?), but the USDA property requirements doc I read didn’t list them.
For veterans, VA loans can also be 0% down.
Only if they are eligible for that line of credit. Since the collapse of the Subprime Mortgage market in '08, it has been significantly more difficult for younger and lower income people to access these more expensive lines of credit.
Sure. But, again, a very limited resource with very particular regulatory restraints that won't help a middle income family in most neighborhoods where people actually live.
Great news for all the serial killers down at Fort Bragg