^ I dunno where you work or what you do but it sounds highly abnormal 1% type stuff if you’re single income and can borrow millions of dollars?

There obviously is if people are paying it. You're living here and not there too lol.

Would you be OK with having a capsule hotel in your neighborhood?

Guys, stop quoting Hehe so I don’t need to see his blocked messages.

Classic misdirection from a fool. Just ignore it

I am the lead fluffer at revscene head office. This is what I’m saying. It’s a flawed system, the lenders can use a portion of the rental income to continue being able to qualify for more mortgages. But the leases aren’t verified. The problem becomes worse the more housing prices climb. Because then you can borrow against all the houses (tax free I will add) that just increased in value and repeat the cycle. Banks will have a cap on the number you can have but if you are a couple or fraudulent you can get around it.

capsule pods to fix the homeless problem? :badpokerface:


:inout:

Why not start with areas that have this problem to begin with? For example DTES... there are already many in the area who are homeless and need a place for a fresh start.

The idea of a capsule hotel is not something for the long term for them. It's just a cheap place for them to freshen things up, become presentable for a job and find a job that'd pay them enough to afford their own place. And the idea is that we can accommodate the most people with this setup than trying to build affordable housing; thus minimal impact on gov't budgeting.

As for valuation of properties... again, the price of RE that we have today are not based on fundamentals. But on the perception that it would ultimately grow further.

Therefore, landlords are willing to get a below normal rent return as long as the capital gain would ultimately compensate for it.

Think about it... why else would someone buy a condo for 800k just to rent out at negative cashflow even at near historical low rate. It literally means that the landlord is paying the renter to live in their 800k condo.

The usual rule of thumb (as RE general worldwide) in a neutral market is the mortgage payment at 20% down, add all the taxes and whatever needs to be equal to the rent payment. When the rent doesn't cover that, it either means that the rent is too cheap or the property is too expensive.

And this is the bare minimum. Usually we'd expect a decent return on investment... meaning we should be looking at at least 3-5% cap after all the expenses, but no... here we are in negative territories.

I'm not trying to be the Dr. Doom on RE. I'm a homeowner myself and I'd hate to see value of my property going down. But I didn't buy my house thinking as an investment. It's just a place I can afford to put my family in. But it doesn't negate the fact that the price is out of whack.

What if I tell you that true 1% stuff is way worse than this?

You can get multimillion dollar mortgage with no credit check, no true income verification and overall just a for-formality appraisal and stuff to "justify" the mortgage. Heck, their rate is even lower than us normies.

The mortgage arm at any private banking division in any big bank is separate from the retail side. They run on different set of rules and you'd be shocked how much easier the 1%er life really is.

https://i.redd.it/5czen9dtsdy81.jpg

They want to make it so sex is only for producing babies.

Yah its gonna go over like a wet noodle when nobody can get their noodle wet no mo haha

This is what happens when a bunch of dried up pussies and shrivelled up dicks are running a country.

But what about all those GOP orgies... where's Matt Gaetz? Not all heroes do rap... I mean... wear capes!

Aren’t these the people who lived through the 60’s??? Who’s parents hated them because of their ‘summer of love’ ways. And yet their trying to screw over the next 3 generations???? ¯\_(ツ)_/¯

matt gaetz only dry humps his cousin.

They are also the people who went to Ivy League schools paid for by their parents, ate cum covered crackers for a fraternity membership and Narc’d on anyone smoking weed.

I've never smoked weed.... why I not cool :okay:

Also never narc'd tho :accepted:

How can anyone argue that this bullshit makes any sense? Why is it always these old white men trying to tell people how to fuck?

Then you have asshats like Hehe trying to cape for this garbage.

Shit is depressing.

Hehe just thinks he’s the fuckin ben Shapiro or Jordan Peterson of RS. Just disagree with everyone and spew out as many words as possible.

^ hehe

wait... so you ate the crackers???

:suspicious::inoutugh:

the discussion on the low/no barrier housing options & support here is probably indicative of the level of understanding of many middle to upper income folks

in recent years it really makes me appreciate planners and social planners that know the space to tackle this difficult and complex issue, but is an uphill battle with the general public.

Can you expand on that first comment? I’m interested in what your take is on the discussion but not quite clear on what it is?

i didn't want to derail and take it too far down a rabbit hole, but it sounded like asian pod style homes was a suitable option for affordable housing, particularly those most vulnerable and at risk (i.e. replace SRO's and shelters?). That I disagree with. Gov is attempting to move away from SRO's and to replace with pod style spaces is something i don't think is the right approach.

there's various levels of housing to transition to more stable housing but the key is supports. we've done the "lets put a roof over them" approach for a long time, it actually needs to be tied to various levels of supports to help elevate folks to stable housing/way of life.

there will be the counter argument of 'those ppl choose to stay like that' but i think supports need to be in place, and the gov released recently plan to tie supports to housing iirc.

i am/was one of those middle income folks i mentioned previously but my work allowed me to see other perspectives aside from engineering and have been fortunate by it.

i didn't want to get too in to it as it's hard to put thoughts on to a forum and express this issue clearly IMO as it's somewhat complex IMO. but i've interacted with planners and ppl in social work and see things from their POV. in the end it's helped me provide better designs for the end user, especially in low barrier environments.

hope no one was offended by my earlier comments, wasn't meant to be.

Not offensive at all, I was just curious on what your takeaway was, as there are a lot of conflicting opinions on it.
Along with housing there also needs to be the right resources for different people in different situations. Career/job counsellors, mental health and addictions counsellors, financial planners, drug counselling, etc to mitigate risks of people not being able to become self sufficient. Some people never will be, the barriers are too great, however just putting someone in a tiny room is not a complete solution.