With high home prices and mortgage rates, many Americans are turning to rentals. CNBC’s Diana Olick has more details on why an increasing share of houses are being built specifically for renters in a booming build-to-rent business.
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#NBCNews #Renting #Mortgage
😢 I’m paying 1800 one bed renting 😂😂 😢😢
😂. Okay so you mean build for zero equity for the normal person, and for the working class person to pay for the mortgage and all the bills? And get zero % equity growth? 😂. That’s called destroying the middle class, not “build to rent”.
Idiots don’t complain when the landlord screws u
God this is so stupid. Such a positive propaganda piece too
I love how the landlord is trying to normalize renting when she obviously wanted to buy and was forced to rent because of the interest rates.
Ripoff 101. Hamster wheel
Jeez! We need a do-over.
No one forces her to RENT;; Are you high? She can buy a home if she can afford.
@James Locklear she said that she can’t buy a home because of interest rates. She is forced to rent or be homeless. It’s not like there are cheap homes anymore these days.
You being priced out by tech swine.
Renting is like being on a treadmill. Its cool while you are still able to walk. But the second you get injured or run out of energy, you get booted off and realize that you made zero progress this whole time. There is no long-term positive outcome for renters. You pay the rent until you are no longer able to. Then its game over.
Or you take the money you would have spent on the downpayment, closing costs, and higher monthly costs, invest it, and get a higher ROI. There are areas where it’s way cheaper as far as monthly payments to rent now.
@Matt Sezer lol you forgot to mention: “and hope for the best” because this market can tank at anytime.
@Wallis the GriffonThe ROI of the S&P 500 over the past several decades has been better than the housing market as a whole.
@Taco Cruiser for the 95%, a mortgage is glorified renting. You pay it off and own the home about a decade before you die.
Right now, it’s much cheaper to rent in all but 4 cities in the US. So as of right now, it is more costly to buy and will take more of your paycheck away from you to be able to do it. So no one is winning.
The only people that are are the ones that moved back home or moved into a small 1 bedroom for $1200 a month to save while waiting it out.
Paying a landlord means that money is not coming back to you, and at the end of the agreement, you don’t own a home that is yours.
Well, right now there isn’t much of a choice for people who need a home immediately. Either pay the landlord or pay the bank outrageously high mortgage rate if you buy. Pick your poison I guess.
@One in a trillion actually 6~7% is NOT outrageous rate smfh
Another opportunity for greedy investors to keep the profits coming in.
Not exactly. This only works on homes that are nearly paid off or have very low rates. Anyone that is buying this year or bought last year cannot leverage their monthly mortgage by having someone rent it out.
Gee, it wouldn’t have anything to do with a plan to obtain property with the banks being planned to take down & renters in the end having to relocate because of property not being paid off when it happens in order to relocate unwanted’s would it ???
THE MARKET IS PURPOSELY BEING MADE TO WORK AGAINST THE LEGAL U.S. CITIZENS BECAUSE OF PREJUDICE !!
DR horton is building bid neighborhoods and then selling the community to mega corporations to rent out. Going to be big money when they evict you.
boycott rental homes. the rich will literally win if you rent a house that cost the same as a mortgage itself.
I really hope you would enjoy living in the street 🤣😂🤣😂
“You will own nothing and like it.” More like, “You will own nothing and also hate it.”
Why people rent is not because they want to have zero maintenance. They went because they have bad credit or they don’t have enough to put down.
A solution I’ve been learning about is Housing Co-ops and Community Land Trusts. These I believe, are truly the answer to freeing ourselves from landlords once and for all.
Housing Co-ops seem to be more popular/common in the north, but I’m hoping I can get some people together in down south where I live to start one.
Know
SCAM ……….HIGH RENT and UGLY. “Bigger backyard” that isn’t fenced or yours either. It’s a glorified trailerpark. Your house is a xreox copy of your neighbor’s house. Just like prison.
Home prices increased by 40% in 48 months… Why are people acting like that’s normal?
Its corporate gouging.
3 billionaires have more money than the bottom 50% of Americans put together. NBC is disgusting.
u mainland clowns are funny.. every one of you could buy 3 acres of native Hawaiian forest and build a solar cabin…..
for the same $$ as a new SUV…. lol…. free mango free water free dump free bananas free avocados free lava show free world class beaches, in paradise, etc.
“People are demanding they be allowed to make mortgage payments for the wealthy so they can buy more homes.”
If that were true, they can’t be too bright.
Why does the driveway at 2:04 need to be THAT long? You could easily fit 4 cars on that driveway, plus 2 cars in the garage. Maybe part of the reason why homes are so expensive is because of how inefficiency we use our land. Bigger plots of land, lower density neighborhoods, and as a result longer distances to drive. People in Europe and Asia are facepalming themselves watching this.
You have said one of the smartest thing. I building my home here in Cali. and the city is requiring us 25 feet of front end and 15 feet of side end. That is a lot of wasted land …. that is a big problem.
This is not good
You own nothing, and you will be happy
With that mindset, you’ll own things and not be happy lol.
I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I need guidance on what investments to make.🚀🚀🚀…
Please do you mind sharing any means of reaching out to him easily? I’m really interested..
He’s Active online through his website.
I found his extraordinary resume when I searched for his name on Google. I count it a gift that I went over this remark. very impressive website
Bring it to Rochester Ny
It’s more profitable to rent than to sell.
I am sure this investor is not a renter himself. There should be a cap on investors or tax them high for owning an x mount of properties …that will put an end to their greediness. If you can buy dont rent, Start small it might not be your dream home but at least you will have one foot in.
Those increased taxes get passed on to the renters. Believe me my tenants complain when I raise the rents telling them that the property taxes and insurance costs continue to go up and they look at me like that’s not their problem so I tell them that they need to move cause I’m selling the house and they complain that they ain’t got nowhere to go and I say that’s not my problem. 😂
The real issue is that on my rental properties that I leveraged meaning that I put down a 20% and I have a mortgage on them, my property taxes and insurance are more than the principal and interest on these homes. Even on my primary residence, my property taxes and insurance is more than 50% of my mortgage payment. That’s a huge problem. The local elected officials continuously raise the value of my properties so that they can generate more revenue through property taxes, and then the insurance companies raise the cost to replace my properties due to rising cost to build a house. It truly is a never ending cycle of pointing fingers
Another strategy I’ve been learning about is Housing Co-ops and Community Land Trusts. These I believe, are truly the answer to freeing ourselves from landlords once and for all.
Housing Co-ops seem to be more popular/common in the north, but I’m hoping I can get some people together in down south where I live to start one.
This is why you are poor and soon to be a forever renter. Yeah government can raise taxes to landlords, BUT they will raise your rent which means you are the one who will pay for those taxes 🙄 geez
@James Locklear
So the question is, is it the governments fault or is it the landlords fault?
@mylifeintexas2769 maybe capitalism? You will own nothing and you will be happy by 2030 Hallelujah!
Well. If you can’t afford, you just accept the reality. At least the house is good and they have a place like home.
Im sure those homes were originally built to SELL but no one is buying with the current prices and interest rates.
None of us are going to own anything.
And this is why financial literacy needs to be taught at an early age….trying to save for a home, but losing all your savings to high rent and the priorities are that Lexus in the garage? She will never know how generational wealth is procured for her own family.
I rented to age 39…. I bought my first home dec.2019 for$178…. I now owe $140k.. it’s now worth $300k……. I’m not touching the equity period…. I’m glad I stopped renting
A (wayyyy better) solution I’ve been learning about is Housing Co-ops and Community Land Trusts. These I believe, are truly the answer to freeing ourselves from landlords once and for all.
Housing Co-ops seem to be more popular/common in the north, but I’m hoping I can get some people together in down south where I live to start one.
You will own nothing and be happy! New World Order
I wonder how much they paid her to advertise for the rental business. She probably got a month of free rent. And the idea that she is not paying for all of the repairs and taxes is just a lie. Landlords bake all of that into the rent.