International Dutch gov. looking at banning investors buying property in some cities (rent related)

[ElKarlo]

I now own my own home, but back when I was renting, I preferred renting a house over an apartment. Houses tend to just be nicer. If you aren't sure how long you will be in an area, it's easier to rent than to buy. This will hurt people that want to rent a house rather than an apartment.

I can understand barring foreign investment, but there shouldn't be a total ban.

Also, people shit on land lords, but good land lords are providing a service and hating on someone wanting to make an investment is childish.

Having rentals available is good. You’re right. But there becomes a point where potential homeowners are crowded or priced out by people or businesses buying up the available houses. That’s what has happened in many areas imho. Something should be done to fix the balance without making it go nuts like you mentioned

 

[nostradumbass]

Pretty sure people have expenses other than rent dude.

Huh? What does that have to do with my post?

I said the availability of lots of rental properties is beneficial to everyone involved, and there are more downsides than upsides to this.

Most people, especially young people with the least money, don't just start out with a job they'll have forever in a neighborhood they'll live in forever or even want to. They move and change jobs several times, so renting is much better for them because you have to live in a house for several years before buying is a better deal than renting.

There are more additional expenses to owning than renting, and now young single people have much higher up front costs, wouldn't even necessarily be approved for a home loan without any credit history or enough money for down payment, furnishing the house, appliances, any repairs, which there certainly will be for any home a poorer person could come close to affording just the closing costs for.

Don't know in Holland, but if this was the case in the US, it would only increase rent, leave more homes abandoned, and lead to a massive increase in home repossessions.

 

[Natural Order]

You could call it socialism but you could also call it nationalism. Just don’t call it national socialism…

 

[Hellowhosthat]

Huh? What does that have to do with my post?

I said the availability of lots of rental properties is beneficial to everyone involved, and there are more downsides than upsides to this.

Most people, especially young people with the least money, don't just start out with a job they'll have forever in a neighborhood they'll live in forever or even want to. They move and change jobs several times, so renting is much better for them because you have to live in a house for several years before buying is a better deal than renting.

There are more additional expenses to owning than renting, and now young single people have much higher up front costs, wouldn't even necessarily be approved for a home loan without any credit history or enough money for down payment, furnishing the house, appliances, any repairs, which there certainly will be for any home a poorer person could come close to affording just the closing costs for.

Don't know in Holland, but if this was the case in the US, it would only increase rent, leave more homes abandoned, and lead to a massive increase in home repossessions.

Oh okay, I got the wrong end of the stick with your post.

When the housing market is cheaper, it's easier to buy and sell anyway. People mostly used to buy and sell as needed and it was quicker without the massive amount of costs involved.

 

[MicroBrew]

I can empathize with the Dutch; it's a small country, and like most of Europe is densely populated, relative to the US and Canada.

 

[Andy Capp]

As part of their re-election campaign, the incumbent Liberal party of Canada is saying they will outlaw sight unseen buying up of property for the same reason. I'm all for it. But the main thing we need is for more housing to be built. Plain and simple.

 

[MicroBrew]

As part of their re-election campaign, the incumbent Liberal party of Canada is saying they will outlaw sight unseen buying up of property for the same reason. I'm all for it. But the main thing we need is for more housing to be built. Plain and simple.

So what if the overseas buyers see pics of the property? So if they came on a tourist or some type of business visa , bought the property and just let it sit , that would be ok?

Seems like this law was cleverly worded in such a way as to still allow the practice to continue.

 

[Project 2501]

I now own my own home, but back when I was renting, I preferred renting a house over an apartment. Houses tend to just be nicer. If you aren't sure how long you will be in an area, it's easier to rent than to buy. This will hurt people that want to rent a house rather than an apartment.

I can understand barring foreign investment, but there shouldn't be a total ban.

Also, people shit on land lords, but good land lords are providing a service and hating on someone wanting to make an investment is childish.

Fuck no. Not only do I support a ban, I want all foreign owned property here in California confiscated with no compensation and all their chinese owners ousted out of the US for good. San Gabriel Valley is practically a chinese colony at this point. Most of the houses are facades so that their children can go to school here. A lot of houses are even unlived.

 

[Andy Capp]

So what if the overseas buyers see pics of the property? So if they came on a tourist or some type of business visa , bought the property and just let it sit , that would be ok?

Seems like this law was cleverly worded in such a way as to still allow the practice to continue.

Oh, I don't claim to know the details of the actual proposal. But there's currently a big issue where there moneyed class can just waive all conditions of sale* and snap shit up in the assumption no matter the condition it will appreciate, and knowing it's a rigged game anyway with a built in feedback loop. They offer $20K or $40K over closing and every time a sale closes it drives all the prices up. It's like the collectibles market except people don't need their fucking Star Wars collection completed in order to have a roof over their heads. A whole bunch of people in the know sell all kinds of shit back and forth between themselves, raising the price every time, then unload to some rube who believes he's getting true value because he's getting it from someone with a reputation. But when it's real estate and not "action figures, mint, in box" regular people get to see just how much of a fix the whole racket is. If some law passed by whomever wins the next election helps short circuit that I'm all for it.


*I think that's the real "sight unseen" thing being talked about. If you own 20 homes that you've bought as investments and one of them turns out to not be worth it, do you give a fuck? No. But if you're a couple buying your one and only home can you take the chance of being that one in 20? Fuck no.

 

[Andy Capp]

Fuck no. Not only do I support a ban, I want all foreign owned property here in California confiscated with no compensation and all their chinese owners ousted out of the US for good. San Gabriel Valley is practically a chinese colony at this point. Most of the houses are facades so that their children can go to school here. A lot of houses are even unlived.

Please see my post above. Same shit, different pile.

 

[KeepingItReal]

You could call it socialism but you could also call it nationalism. Just don’t call it national socialism…

How is this anything like socialism?

 

[Yehudim]

It also directly influences birth rates, as the need for safe shelter is one of the basic needs that need to be satisfied before procreation.

Must be one of the reasons birth rates are so high in the safe, well-sheltered 3rd world with their tin roofed shacks and mud huts

 

[Andy Capp]

If I had my way I would have people look more closely at the term investment.

When you invest in a company you're vested because you have your own green riding on the success or failure of this company. When you invest in a bond, you're vested because you can't touch the money until the bond matures. When people say they invest in a property, that's only true depending upon what they do with it. Until then, it's just a purchase. So I think we get in trouble when we let the rich people make the rules for real estate on the same basis as real investment. And we should tax the ever loving shit out of capital gains and rebate some of it to first-time home buyers.

 

[RogerB08]

One could call that socialism; if of course one didn't know anything about socialism

 

[Jkillah]

If I had my way I would have people look more closely at the term investment.

When you invest in a company you're vested because you have your own green riding on the success or failure of this company. When you invest in a bond, you're vested because you can't touch the money until the bond matures. When people say they invest in a property, that's only true depending upon what they do with it. Until then, it's just a purchase. So I think we get in trouble when we let the rich people make the rules for real estate on the same basis as real investment. And we should tax the ever loving shit out of capital gains and rebate some of it to first-time home buyers.

Real estate is a valid type of investment. People have earned the majority of the livelihood this way. Real Estate is one of the few ways a working class person can move into real wealth.

 

[Andy Capp]

Real estate is a valid type of investment. People have earned the majority of the livelihood this way. Real Estate is one of the few ways a working class person can move into real wealth.

It's a rigged game that advantages the people already winning.

 

[My Spot]

Won't pass here because muh racism.

 

[ElKarlo]

As part of their re-election campaign, the incumbent Liberal party of Canada is saying they will outlaw sight unseen buying up of property for the same reason. I'm all for it. But the main thing we need is for more housing to be built. Plain and simple.

Yeah. That’s a good idea imho. As it makes it harder for someone far away to buy something But that’s a Tylenol and not an actual cure. MIMBY and other nonsense blocking building is the problem

 

[MicroBrew]

You could call it socialism but you could also call it nationalism. Just don’t call it national socialism…

Ok, lets call it Social Nationalism.

 

[Bojka]

They should heavily tax 2nd, 3rd, etc. homes bought in residential areas IMO (could start at 3rd for married couples). And obviously crack down on foreign and private investment.