[quote=CA renter][quote=CricketOnTheHearth]What I hate is the idea that all these “investors” will run out and snap up the affordable properties before the wannabe homeowners can, then rent them right back to those same people who wanted to buy in the first place. In other words, force people to be renters against their wishes.[/quote]
This is exactly how I feel as well. We have enough money to buy up a few of these distressed properties and rent them out for income, but I have a moral problem with doing so. If we believe communities are better off with owner-occupiers, then it would be best for these people to be able to buy their own homes and improve them as they see fit, instead of having to compete with wannabe landlords and flippers.
Housing is a basic necessity, and even though renting provides shelter, I do not like the concentration of real estate in too few hands.
Disclaimer: We absolutely may buy investment properties at some point in the future, but if we do, we will buy very low so that we can pass the savings on to renters who truly cannot afford to (or shouldn’t) buy.[/quote]
I have had rentals before and I am building one now and will buy more. At the “mom and pop” level it is one of the grittiest, blood sweat and tears ways to make a living. Nothing to suffer moral dilemas over at all. Give your tenants and nice place, treat them well and be done with any moral apprehension.
