this post was submitted on 01 Apr 2024
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Asklemmy
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Market rent is basically set by current home costs. Any long term owners who have 15+ year old tax base essentially get to pocket the difference due to lower property taxes. Any newer buyer who is renting can only cover costs.
That is incorrect. I can tell you’ve never rented to people rent is set by the market. Supply and demand.
It doesn’t matter if the house cost 800k. If the market rent is 2k a month. That’s all you’ll get.
In the area where I had my rentals, the houses are 500k but the rent is only 1k. Now I bought in 2008 and only paid 120k. So only lost some money but I made it up in tax benefits.
People really don’t understand the economics of landlords. They think it’s all money in the pocket. It’s not. It’s a very thin profit margin with most the benefit being taxes.
I can tell at a glance you're really bad at math. 🤦♂️
I am very good at math but thanks for the worthless reply.
Maybe you should just give up
Ah the creepy stalker again. Creepy.