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jttIII t1_ivgf70m wrote

Reply to comment by Anima_EB in Springfield renters and landlords, what are your thoughts/opinions on how so many landlords/rental companies want potential tenants to have income that is equivalent to 3x monthly rent? by Snoo_84090

First and foremost, I'll lay my ignorance on the table as I'm nothing more than an armchair economist... more educated than most on the subject but nowhere near an expert.

You'll also get little argument from me that large foreign ownership of US properties presents a whole host of challenges from a market security and even national security lens... IE if I was China and wanted to play the long game and had the capital I'd absolutely inflate the assets that are housing then attack currency to create a recession where people lose jobs and cant pay for the inflated asset then cascading to a depression. tin foil hat...

I genuinely do feel for people who are stuck renting. I bought in 2014 and my mortgage today on a 3 br 2 ba house couldn't pay for an unfurnished studio in most cases.

So what's your suggestion?

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Anima_EB t1_ivhz11i wrote

I wouldn't be surprised China would be doing things like this. Especially given the financial situation between the U.S and China at the moment. They've also admitted to taking their salami slicing warfare tactic to the extreme in this way. Confucius Academys in college were under attack (still are and rightfully so) for spreading Chinese propaganda under the guise of raising awareness of their culture.

Anyway sorry for ranting. I'm not actually seeing a question in your response. What would my suggestion be to invest in outside of real estate?

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jttIII t1_ivi2hlc wrote

What would your suggestion be in regards to the tension currently between pragmatic landlords who had the capital and risk tolerance to buy real estate and rent their properties for what the market will bear and their prospective tenants that you believe are being overpriced?

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