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Thread: More Americans spending majority of income on rent

  1. #11
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    Quote Originally Posted by moonarch View Post
    Aetius Romulous
    That is the very definition of unfettered capitalism. And capitalism is good for everybody.



    Interesting article on the unfettered capitalism you mention, will most of IOUSAn's end up like looters, vultures ? I think were are almost there.

    Link - Fair Use: http://exiledonline.com/greedy-landl...sion-vultures/


    February 17, 2009

    Greedy Landlords, Merciless Consumers: A Case Study of America's Recession Vultures
    So very funny, in a macabre sort of way. I just suffered through this exact thing - exactly - with one of my businesses. Had a final reconciliation meeting with the lawyers last week. Exactly.

    We calculated what the Landlord would collect through the process net of his legal expenses, and sketched out a scenario for them where we would simply bleed them to the bitter end in court - making it a lose/lose for everybody (except the lawyers). In effect, we turned it back on their law firm and challenged that firm to justify their fees to their client over a period of years while the landlord waited to collect crumbs. Waiting now for a response.

    Thanks for the post. This has become an endemic practice in an economy where retail is changing and most retail outlets - even the biggest ones - cannot handle the rents agreed to in another time and in another economy. There are fewer and fewer retail groups willing to take the risk on "bricks and mortar" under the terms and conditions that made these landlords rich before the age of online shopping and endless commercial credit. Retail is willing to change with the times, but landlords are not where they have long term contracts. Rather than renegotiate and keep their projects alive, more and more of many landlords income is now coming from litigation like that sketched out above. It's a quiet and silent plague operating in the background of retail.

  2. #12
    MidnightTide Guest

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    Ya, I spend about 25% on rent - you can pay less, but you will be living close to low income housing areas.

  3. #13
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    Aetius Romulous
    No, I don't think so. There are currently trillions of dollars sitting on the balance sheets of large corporations, family trusts, and bogus unproductive financial instruments which have accumulated in the last several decades. None of it is part of the productive economy, the economy all but a sliver of humanity lives and works and plays and dies in. It exists in places and in amounts that never existed before in history - until about 40 years ago. It benefits none a but so very few. That's where the capital is.

    You don't have to "take" this wealth, you simply have to get it moving through the productive economy again, like it did prior to 1980. It's like a steam, whose waters once fertilized large and sumptuous fields, but now is collected in an eddy, stagnant and stinking. All that's necessary is to trench into it and it will flow again.

    Agree, completely.


    Aetius Romulous
    So very funny, in a macabre sort of way. I just suffered through this exact thing - exactly - with one of my businesses. Had a final reconciliation meeting with the lawyers last week. Exactly.

    We calculated what the Landlord would collect through the process net of his legal expenses, and sketched out a scenario for them where we would simply bleed them to the bitter end in court - making it a lose/lose for everybody (except the lawyers). In effect, we turned it back on their law firm and challenged that firm to justify their fees to their client over a period of years while the landlord waited to collect crumbs. Waiting now for a response.

    Thanks for the post. This has become an endemic practice in an economy where retail is changing and most retail outlets - even the biggest ones - cannot handle the rents agreed to in another time and in another economy. There are fewer and fewer retail groups willing to take the risk on "bricks and mortar" under the terms and conditions that made these landlords rich before the age of online shopping and endless commercial credit. Retail is willing to change with the times, but landlords are not where they have long term contracts. Rather than renegotiate and keep their projects alive, more and more of many landlords income is now coming from litigation like that sketched out above. It's a quiet and silent plague operating in the background of retail.

    Perfect - Beat Them (or at least try) At Their Own Game, Turnabout is fair play.

    Your last paragraph is a perfect explanation of today's Slave Tax Rates on the Working Poor and Lower Middle Class - The "Landlords" - or those who receive the bulk, largest percentage of IOUSA's tax receipts - transfer of stolen wages payments - refuse to re-negotiate, they have almost all the power - "representation" (gag) - Not saying throw anyone and everyone on the streets -
    Just saying why should someone who enjoys $3000-$10000. - THREE THOUSAND to TEN THOUSAND PER MONTH in "retirement" monies be receiving the wages for the Working Slave Class ?
    Tens of Millions of Americans are in this demographic.

    UNABASHED GREED and Hatred of Their Fellow Man is why a wealthy man believes it is righteous to steal the wages of a Wage Slave.

    Why risk and toil for decades to "get ahead" - when in fact the opposite is true - the more you make - the more wages stolen - at least for the lower classes.

    We have been manipulated, played for decades, and in the end we will all lose.

    Finally, my views on lawyers has changed.

    They, true law and those that practice it, are our only hope. I sincerely hope they can eventually emancipate humanity - free the Slaves before most of us end up DEAD.
    Last edited by moonarch; 05-12-2013 at 02:49 PM.

  4. #14
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    Say what you want to, but around here, a typical house will rent for 650-700 a month, typically to protect themselves the landlord will include water and sewage at 75-100 a month as a lien can be placed upon the property for non-payment. Property taxes around here are somewhat variable, but 350-400 a month aren't at all uncommon. So at least around here, the local Government seems to me the one which is being greedy.........

  5. #15
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    Never understood why someone would rent in the first place.

    I bought a farm on a 10 year note. It paid itself off in 8 years. It pays me to live here, not the other way around.

    Wasting your life to earn the money to pay someone so you can live close to the place that wastes your life is just crazy talk.

    /I think I just coined another phrase.

  6. #16
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    Quote Originally Posted by PatDaly View Post
    Say what you want to, but around here, a typical house will rent for 650-700 a month, typically to protect themselves the landlord will include water and sewage at 75-100 a month as a lien can be placed upon the property for non-payment. Property taxes around here are somewhat variable, but 350-400 a month aren't at all uncommon. So at least around here, the local Government seems to me the one which is being greedy.........
    You nailed it on property taxes/government extortion. Only a world-class masochist would be a landlord today.

  7. #17
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    Quote Originally Posted by RevDoc View Post
    Never understood why someone would rent in the first place.

    I bought a farm on a 10 year note. It paid itself off in 8 years. It pays me to live here, not the other way around.

    Wasting your life to earn the money to pay someone so you can live close to the place that wastes your life is just crazy talk.

    /I think I just coined another phrase.
    Renting has its place in an economic plan, but I think for too many it becomes a way of life.

    If you move to a new city with a new job, it benefits you to rent somewhere to live for that first year. Then you can see the area and figure out where you want to buy (and have many more options and time to look around as opposed to a mad rush of a househunting trip) as well as seeing how that new job works out. Would suck to move to a new city, buy a house, then lose that job and find out you can't find another one in that city.

  8. #18
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    It's almost always cost me 50%+ of my income to rent. So, we decided to rent to own and the place would have been paid off in 6 years. Hubbie got sick after the first year with a debilitating illness and lost his job. And we lost the house.

    Interestingly, I'm seeing a lot of people being humbled these days. Low income people have struggled for a very long time, and some had a sense of pride and accomplishment in that they were poor as church mice, but stayed off of the welfare roles, paid their rent & utilities, ate beans and fried potatoes until inflation made even those too costly to buy.

    And the middle class and up thought they were so much better as human beings simply because they had nicer 'stuff' and more of it. I hate to see anybody suffer, but the humility (as in humbleness, not shame) is refreshing.

    Those of us who have been on the bottom of the barrel for a very long time, couldn't fall any lower than we already were. Times got tough for the rest. There's more to go.

    I think we've got ourselves into a catch 22 as a nation, and if not, then we're well on our way. We REALLY need some 'Reganomics' and right now if we're going to survive.

    NOBODY should have to be on foodstamps in this country, and I mean NOBODY! There's enough room here for a decent home, job, and garden for all if we weren't spending billions in the middle east just to appease our deadly enemy who continues to kill even as he takes our money!
    As an American you have the right to not believe in guns. You also have the right to not believe in God. But if someone is trying to break into your home, or wants to harm you, the first thing you will do is pick up the phone and call someone with a gun. The second thing you will do is pray that they get there in time. ~Don Moore

  9. #19
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    Quote Originally Posted by Aetius Romulous View Post
    What is wrong with the economy in general? It is the fact that while the costs of essentials have steadily increased (food, clothing, shelter), wages and income have not. So you get a squeeze, where the increasing costs of essentials crowds out the "discretionary" spending on non-essentials. As an ever increasing amount of money goes to essentials the demand for non-essentials falls, production of that stuff falls, and unemployment rises. This creates a downward spiral that has been in evidence since the late 1970's, when incomes for the average American stalled.

    The delay in the worst effects (which we are experiencing now) was caused by the excessive use of credit (starting in the late 1970's), and the outsourcing of production and the "Wal Mart" effect of falling prices for consumer goods. Both those stop gap measures hit a wall in 2006/7 however. Now we find ourselves with maxed out credit, gutted production, and a floor under prices.

    The only solution now is the redistribution of accumulated capital from the wealthy
    , who during this time took all the benefit of growth and made out like bandits on a historic scale. That money has to be returned to consumers through higher incomes, who can then return to discretionary spending, increasing employment, and reversing the spiral. But of course, that smacks of socialism, and we can't have that. So, fettered by ideology alone, the future simply looks bleak.
    Your idiocy astounds me - keep drink'n that kool-aid

  10. #20
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    I'm still trying to figure out how people in my area afford rent.

    Rent for a 3 BR condo in my complex goes for $2,200/month. For someone to afford the rent at no more than 25% of their income, they would need to be making $120,000 a year. At that point, why rent, might as well buy.

    DH and I make decent money and I couldn't afford the rent. We bought on foreclosure years ago. Otherwise we wouldn't be able to afford to live here.


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    Buy from a friend.


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