New Yorker here. Have never owned. AirBnB & foreign $ have forced prices up everywhere, ripple effect. Those protected by rent control are lucky, but the system is prone to abuse & artificially raises prices for younger folks/folks who don't have a family that were plugged in:
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My rent control neighbors own a house upstate and drive an Audi, they are able to save due to rent control. I don't own a car or have a second home, rent is shockingly expensive.
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Real estate developers don't want to build affordable homes, they want investor-owners or mcmansions for the wealthy. Create a permanent underclass so busy trying to survive we have no time to realize what is being done to us. We are disposable pawns in their game.
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Ppl would be surprised how many thousands properties the banksters, Freddie and Fannie own and keep out of normal inventory and off the market to maintain & inflate prices.
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Renters who are getting gouged
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Europeans rent. Renting creates a flexible workforce - you can easily give notice and move to where there’s a better life. Buying a house makes sense only in an economy of long-term stable jobs.
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The
#American dream has never been attainable for many Americans. - 1 more reply
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And with the new tax code, where’s the incentive to own property? Guess it’s all for the Oligarchs

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The deduction for my rentals were less than the standard deduction. The new tax code saved me a lot of money.
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I’m glad for you! Sounds like rentals are business related? we may take a hit 3 fold as no mortgage int deduction, no office deduction (hubs only office in house~Corp in Cali, he’s not an LLC) and I teach in Title I school and buy supplies for school, bye bye deduction

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Does your standard deduction make up for it? Yes, I have had rentals most of my life but I came out ahead this year on deductions for them. I don't have interest deductions anymore, there are no loans on anything, only taxes, and improvements. I knew Cali would take a hit.
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We shall see...doesn’t look so, so far esp if commissions are 100% for spouse
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Why we voted for Trump. Democrats and Republicans have robbed this great country
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We're less than 12 months away from another financial crisis that is going to bring those house values way back down again. Hopefully we really fix the problems this time.
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We NOTICE how u do a great job to point out all the negative things that are going on in our country, whether true or just another NYT lie. We KNOW that you excel at promoting these news in a political effort to discredit Trump. SAD TO SEE YOU DEMEAN YOUR BRAND FOR POLITICAL BIAS
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From 80 yrs of Dem Fed Govt regulate tax debt spend print, inflating all prices, especially housing college & cars, faster than wages to unaffordable by ever more ppl
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