FAIR IS FAIR ...
FOUL IS FOUL ...
IT ALL NEEDS TO BE CHANGED ...
AND I MEAN NOW !
<--- THE PIC ?
THE REAL "TRICKLE-DOWN EFFECT"
WE "PO FOLKS' ARE ON THE BOTTOM !
RENT
Tom Hyland - (C) - 7/7/15
IF I HAD MY WAY ... THERE WOULD BE CHANGES !
First of all ... All Rents Everywhere ...
Would be Tax Deductible!
People who can afford a Down Payment ...
And Monthly Mortgage Payments ...
Have Always gotten Tax Breaks ...
Not only for Interest, but also Real Estate Taxes.
Poor People who Can't ... Have Always been Screwed!
Meanwhile, the Damned Landlords make a Fortune ...
On the Misfortunes of Others ...
And ... Reap All the Benefits!
Those Paying Rent ... Always Pay More ...
Than the Landlord's Mortgage Payments Are.
Essentially, They Pay Off the Property for Him/Her ...
"The Rich Get Richer ... The Poor Get Poorer ...
In the Meantime ... In Between Time ...
Ain't We Got Fun?"
LET'S CONSIDER MY PERSONAL SITUATION:
When first married, we paid Rent for three years ...
Then bought First Home ...
Then Second, Third, Fourth, Fifth ...
Rolling the Profit over Each Time.
After Divorce, Thirty-Four Years Later ...
I started Paying Rent ...
Three Years in an Apartment at $625. A Month ...
That's $22,500 ... with No Deductions!
Then, I bought a Mobile Home (Trailer) ...
Paid it Off in Five Years ...
BUT ...
The GROUND RENT started at $340 a Month ...
Increased by $20/Mo. Every Year ...
Now, Ten Years Later ... It is Now $500/Mo.
Have Paid Out Over $45,500 ...
Shouldn't I at Least Own my 40' X 60' Plot Now?
I will Continue to Pay More Thousands ...
Every Year ... Until I DIE !
A TOTAL OF $68,000 PAID AS RENT ...
ABSOLUTELY NO DEDUCTIONS WHATSOEVER !
I ASK YOU ... IS THAT FAIR ???
There are 50 Trailers in our Park ...
So, the "Land-Lady" Takes in $300,000 / Year ...
That's $3,000,000 Every Ten Years ...
On a Property Her Parents Developed 30-40 Years Ago!
"The Rich Get Richer ... The Poor Get Poorer ...
In the Meantime ... In Between Time ...
Ain't We Got Fun?"
Since Time Immemorial ...
Educated, Rich, White Males ...
Have Made All The Rules ...
All The Laws ...
All The Profits ...
THIS SYSTEM SUCKS!
A "RENT REVOLUTION" IS FAR PAST DUE !!!
(C) - TKH.
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On the other hand, my sister and her husband once owned 5 or 6 rental properties in small towns. The lost rent from bad tenants, repairs for property destruction, and other maladies, eventually forced them to sell the properties and get out of the rental business. I've found that unless one can inexpensively remodel or upgrade, and meticulously maintain rental property, it can be very difficult to rent to good people.
And rent is not the biggest problem we are facing. It's income inequality. As the very richest get richer and everyone else gets poorer, more and more people are forced into rental. The American Dream of homeownership, even at today's remarkably low interest rates, is slipping away from most earning below the poverty level.
Ron
Love ya!
Jane