Rent control into retirement

[+ stevenkesslar]

I'm not in a position to buy and frankly don't want to. So this is the best option for me.

 

Buying ain't for everybody, and it sounds like you've thought through your options and the risks inherent in them.

 

My # 1 always for owning is equity and retirement. Rich people can retire off stocks and golden parachutes. Most middle class people can't. Nothing I read suggests middle class America can look forward to more generous corporate retirement plans.

[+ quoththeraven]

Relevant to this thread, particularly Steven Kesslar's last post on it: Why Your Rent Is So High and Your Pay is So Low (LA Review of Books)

[Rod Hagen]

Relevant to this thread, particularly Steven Kesslar's last post on it: Why Your Rent Is So High and Your Pay is So Low (LA Review of Books)

 

You read that too? I love that "magazine."

[+ stevenkesslar]

Relevant to this thread, particularly Steven Kesslar's last post on it: Why Your Rent Is So High and Your Pay is So Low (LA Review of Books)

 

I liked the article a lot, and agree with its basic premise: labor was winning for decades, and since the 80's capital is winning.

 

It still doesn't answer the question it poses in the title: how can rents be so high when pay is low? The article blames this on politicians who are protecting banks and middle class landlords like me. I'll buy that, to a degree. It keeps amazing me that the Obama coalition seems to be able to elect Presidents but not get Presidents to pursue their interests, like cheaper college education or lower rents.

 

Mostly, rents are driven by supply and demand, not politicians. Obviously there's enough demand to drive rents higher, at least in some desirable areas, but it still perplexes me. High rents in areas that don't enjoy similar economic growth just keep seeming more out of whack.

[+ quoththeraven]

You read that too? I love that "magazine."

 

Most article links I post I've found via Twitter. This one was no exception, although it's not the first article I've read from this source. It's obviously more eclectic than its title would indicate.

[+ quoththeraven]

I liked the article a lot, and agree with its basic premise: labor was winning for decades, and since the 80's capital is winning.

 

It still doesn't answer the question it poses in the title: how can rents be so high when pay is low? The article blames this on politicians who are protecting banks and middle class landlords like me. I'll buy that, to a degree. It keeps amazing me that the Obama coalition seems to be able to elect Presidents but not get Presidents to pursue their interests, like cheaper college education or lower rents.

 

Mostly, rents are driven by supply and demand, not politicians. Obviously there's enough demand to drive rents higher, at least in some desirable areas, but it still perplexes me. High rents in areas that don't enjoy similar economic growth just keep seeming more out of whack.

 

I thought the article was suggesting the same indirect cause: policies that favor capital and investors rather than working stiffs, so to speak. (I realize that term could be interpreted to exclusively mean escorts.) I was a little surprised that it didn't mention the way Reagan broke the admittedly inconvenient (and IIRC illegal) air traffic controllers' strike, which probably signaled the beginning of the waning influence of unions.

 

Its view of history is oversimplified, but most historical accounts in non-academic publications are oversimplified. For one thing, it can be argued, as a colleague of mine at the management-side labor, employment and benefits law firm where I used to work did in an article, that subsequent legislation like Title VII, the FMLA, ADA, and pro-employee decisions in states like New Jersey as well as changes in the economy have rendered labor unions largely irrelevant. Also, in large part, union protections served to keep non-whites out of the most lucrative jobs available to those without higher education. Let's not delude ourselves that unions are always rah-rah progressive.

 

It is absolutely true that working through a union is more cumbersome and time-consuming for both sides than working together directly. But unions and collective bargaining do serve as checks on arbitrary power, which is why my view (and that of the PTB where I worked) was that unionization indicated a management failure somewhere along the line. Or to put it more bluntly, those companies that saw unions voted in deserved them.

 

Some unions have leaders who have some inkling what kinds of issues the business faces and aren't just in it for personal power. Some unions don't. In New Jersey, last I knew, most corrupt unions have been shut down, but it took a hell of a lot of time, changes in the parent union, and trusteeships of locals (parent union taking over and kicking out the old guard) to accomplish this.

 

Ultimately, the worship of wealth and status and the way the economy is structured (contingent workers, which is the human resource equivalent of just in time inventory) as well as the widening gap between lowest and highest earners is imo what drives the stagnation of wages. The housing aspect probably has to do with the misallocation of housing -there's plenty of high-end housing, not so much low-end. It may be that the poor, working and otherwise, have been priced out of a market that would rather - entirely rationally - go after the highest markup, highest profit product. This is why a pure free market doesn't work unless you get your jollies out of economic exploitation. Regulation is necessary to serve the common good (and not everyone subscribes to that concept).

 

I hate to mention it, but the continuation of tax breaks for real estate ownership itself distorts the market and leads to overinvestment in the housing sector and higher prices. I'm not necessarily advocating doing away with them, but we need to recognize that such policies have consequences and costs and make it a conscious choice to live with them.

[mike carey]

Great summary, QTR.

 

We currently have a Royal Commission into unions, their power and the inherent corruption. It is essentially political, trying to tie any problems in the unions to the current opposition Labor party.

 

Unions have a valid role, which conservatives accept, but many of the current neo-cons cannot even start to understand. 'Solidarity forever' may be overblown rhetoric, but in these neo-con times it is sometimes necessary!

[+ quoththeraven]

Something else I've just thought of: the monetary policy necessary to break the back of inflation, which also led to the recession of the early 80s, inevitably also affected wages. It may also be the case that stagnant wages go hand in hand with low inflation. (In fact, I'd argue that they inevitably go together.) Higher wages lead to higher prices; unchecked, the (to us, anyway) runaway inflation of the 70s will return. Not a result I think many people would desire.

 

As former Chief Justice Rehnquist put it, "You have to take the bitter with the sweet."

[+ friendofsheila]

Well, I assumed correctly I guess that you could not afford a mortgage on a more expensive home in SF. And you may mean buying a rental property elsewhere is out of your league in terms of risk taking or patience required, which is fine.

 

I assure you that if you can afford rent in SF you could probably afford to buy a modest home in Sacramento.....

 

 

I failed to be clear then. I do not live in SF, only in the Bay Area. I do not earn a large amount of money. I can afford my modest single in a somewhat safe neighborhood. I can't afford much else (car, vacations, the services of the professionals here, etc.).

[+ friendofsheila]

You also need to consider whether your current apartment, which you like now, will still be the place that is most suitable for you to live in retirement.

 

This is a good point. I'm fortunate that it is on the ground floor, which will be easier for me if my mobility is impaired later in life.

 

In the long run, I'd just have to learn to live with the modest amount of space it offers.

[+ friendofsheila]

I say buy now, whatever you can afford or scrape together,

 

I'd have to say this is beyond someone like me who is outside the professional class, and more in the working class.

[+ friendofsheila]

a RC lease could be a boon in your retirement and you may well be paying below market rates. But, as has been mentioned, Cali has the Ellis Law and if the landlord demolishes the building he has the right to kick everybody out with only minor compensation and get rid of all the RC leases.)

 

This building has a high turnover, so I'm imagining it will continue to earn good money for any owner, except for the few in it who stay like me. But, to take your point further, any option here is a gamble for someone of my means.

[+ stevenkesslar]

Great summary, QTR.

 

Unions have a valid role, which conservatives accept, but many of the current neo-cons cannot even start to understand. 'Solidarity forever' may be overblown rhetoric, but in these neo-con times it is sometimes necessary!

 

+ 1

 

To answer my own question, real estate as always is about location, location, location.

 

In some gentrifying areas of Portland, OR rents have gone up 50 % in 5 years, which seems excessive. In working class to middle class areas of Sacramento and SLC they have barely budged. So without trying to be too precise, the market does seem to be driving rents and those who are not rich can only afford so much. It helps me because I practice voluntary rent control and I have tenants who stay forever and play nice because they know they are paying below market rent.

 

You are right about the tax laws. There is a reason the rich get richer, and it is due to politics and taxation. The most actual federal taxes I ever paid in my life was in 1993, the year before I bought I home. Since then the deductions and depreciation just keeps adding up, whether it is because I am a money whore (landlord) or a sex whore (self-employed escort). So I make more and pay less in taxes. And I vote for Obama, and I still can't get myself fucked over really good. Something is rotten in Denmark, and its not Draker or me.

 

As far as the big picture goes, I think its pretty simple: globalization and technology. Public sector unions are doing pretty well because teachers and cops and fire fighters can't be outsourced. Auto workers can. If labor's weapon to fight is unions, corporations have figured out how to use a global economy and the technology that supports it to get everything they want.

 

I actually think we should just lower all corporate taxes to zero and take the issue off the plate. As a companion, I would rationalize it by saying corporations are NOT people so they don't have to pay taxes and they don't get to buy elections. Then I would raise taxes in the rich. If they all wanna protest and move to China, fuck em.

 

In other words, I am waiting for somebody to come along and fuck me really good. Now tell me, how is a woman gonna do that? Bill is a sexual predator, some think, but Hillary?

[+ stevenkesslar]

I failed to be clear then. I do not live in SF, only in the Bay Area. I do not earn a large amount of money. I can afford my modest single in a somewhat safe neighborhood. I can't afford much else (car, vacations, the services of the professionals here, etc.).

 

Sounds like you're clear about what you want and what your limits are, and our comments helped you get even clearer. Good luck to you and hope rent control benefits you the way it did me.

[Tonyko]

INTERESTING ADDENDUM: YESTERDAYS NY POST, new legislation was just passed here regarding HOW much pressure a landlord/new owner can put on a rent controlled/stabilized tennant to leave. (the article included horror stores like the Trump one I mentioned prev as well as incidents of calls upping the financial offers that came one an hour from 2am on thru the night to calls at their work places and at family members homes on holidays etc etc and went on for years) This NEW law limits the time period these vacate offers can be made to 180 DAYS, and after that, if the tennant has said "no" both verbally and in email or writing, it is ILLEGAL for the landlord/owner to contact them again with any further offers, if they do they will be fined.

[+ stevenkesslar]

Have you been to Belgium?

 

No. I avoid countries that have had Steven Draker sightings.

 

There is really only so much whore girl behavior that any one country can bear. I am all about sacrifice when it comes to helping my fellow men and women. Granted, I have to suffer, but the world is a better place because Belgium only has to endure Draker, and not me.

 

Help! Sorry BVB, but I totally fucked up. I completely forgot that I will be in Brussels for several hours on Wednesday flying back from Budapest to the US.

 

Granted, this thread is about rent in SF. But since you asked the question about Belgium, I have to ask. Are there precautionary measures I should take to avoid negative reactions when I go into a country with recent Draker sightings?

 

I will only actually be at the airport, and I do not plan to have sex in any airport bathroom. I'm assuming Draker is not likely to be at the airport when I am. Sadly, I donated my Ebola clean suit to charity after I spent the Winter in Sierra Leone curing the Ebola virus. But since I was in Paris I did bring a scarf and can cover my face, at least.

 

Are there other measures you would recommend to avoid massive toxic whore girl aversion reaction? I'm sure people in Belgium are familiar with Draker, and I am just really concerned that my sudden appearance will set the whole country over the edge.

[bigvalboy]

Help! Sorry BVB, but I totally fucked up. I completely forgot that I will be in Brussels for several hours on Wednesday flying back from Budapest to the US.

 

Granted, this thread is about rent in SF. But since you asked the question about Belgium, I have to ask. Are there precautionary measures I should take to avoid negative reactions when I go into a country with recent Draker sightings?

 

I will only actually be at the airport, and I do not plan to have sex in any airport bathroom. I'm assuming Draker is not likely to be at the airport when I am. Sadly, I donated my Ebola clean suit to charity after I spent the Winter in Sierra Leone curing the Ebola virus. But since I was in Paris I did bring a scarf and can cover my face, at least.

 

Are there other measures you would recommend to avoid massive toxic whore girl aversion reaction? I'm sure people in Belgium are familiar with Draker, and I am just really concerned that my sudden appearance will set the whole country over the edge.

 

LOL...are you F-ing kidding me with this shit? Are you trying to get me sent to time-out? http://www.boytoy.com/forums/public/style_emoticons/default/no.gif

 

http://stuffpoint.com/funny-pictures/image/392354-funny-pictures-hear-no-evil-see-no-evil-speak-no-evil.jpg

 

Disclaimer: these images do not resemble anyone known to this poster living or dead, any similarity is purely coincidental.

[BabyBoomer]

Steven, no need to worry, SD will be in Paris on Wednesday.

 

~Boomer ~

[AdamSmith]

Disclaimer: these images do not resemble anyone known to this poster living or dead

 

http://treasure.diylol.com/uploads/post/image/386114/resized_jesus-says-meme-generator-jesus-says-yeah-right-ba9b52.jpg

 

http://m.memegen.com/ujnbec.jpg

 

http://x4.fjcdn.com/comments/Win+HA.+YEAH+RIGHT+OP+EVERYONE+KNOWS+THAT+S+JUST+A+_15e69e8d60dc18e5f234838f5ef93404.jpg

[+ stevenkesslar]

LOL...are you F-ing kidding me with this shit? Are you trying to get me sent to time-out? You are one funny SOB Mr. Kessler.

 

http://stuffpoint.com/funny-pictures/image/392354-funny-pictures-hear-no-evil-see-no-evil-speak-no-evil.jpg

 

Disclaimer: these images do not resemble anyone known to this poster living or dead

 

Great! I just can't get a fucking break around here, can I?

 

You are no fucking help at all!

[bigvalboy]

Great! I just can't get a fucking break around here, can I?

 

You are no fucking help at all!

 

Alright alright....Here ya go...you won't see this in FTL.

 

http://toilet-guru.com/pictures/statue-dscf8707-tn.jpg

[+ stevenkesslar]

Alright alright....Here ya go...you won't see this in FTL.

 

http://toilet-guru.com/pictures/statue-dscf8707-tn.jpg

 

And what the fuck is this supposed to mean? Go to Africa instead of Belgium? Hire a black Pygmy escort to piss on me?

 

Like I said, you are no help WHATSOEVER!

 

Here you are all "I can teach you about compound interest" and when I ask for simple advice about a 2 hour layover in Belgium I get nothing.

 

I just don't get it. All I do is try to be kind and help people and I end up being treated cruelly and punished this way.

 

I guess I will just have to figure it out myself! :mad:

 

P.S. And just don't forget us whore girls are not stupid and we stick together. Maybe Draker and I will team up on YOU and then you will have a lot more to worry about than Daddy timing you out or getting sued because you stole some stupid fucking avatar.

[AdamSmith]

Maybe Draker and I will team up

 

The Perils of Modern Living

 

Well up above the tropostrata

There is a region stark and stellar

Where, on a streak of anti-matter,

Lived Dr. Edward Anti-Teller.

 

Remote from Fusion’s origin,

He lived unguessed and unawares

With all his antikith and kin,

And kept macassars on his chairs.

 

One morning, idling by the sea,

He spied a tin of monstrous girth

That bore three letters: A.E.C.

Out stepped a visitor from Earth.

 

Then, shouting gladly o’er the sands,

Met two who in their alien ways

Were like as lentils. Their right hands

Clasped, and the rest was gamma rays.

 

by Prof. Harold P. Furth (1930-2002)

 

[bigvalboy]

And what the fuck is this supposed to mean? Go to Africa instead of Belgium? Hire a black Pygmy escort to piss on me?

 

Like I said, you are no help WHATSOEVER!

 

Here you are all "I can teach you about compound interest" and when I ask for simple advice about a 2 hour layover in Belgium I get nothing.

 

I just don't get it. All I do is try to be kind and help people and I end up being treated cruelly and punished this way.

 

I guess I will just have to figure it out myself! :mad:

 

P.S. And just don't forget us whore girls are not stupid and we stick together. Maybe Draker and I will team up on YOU and then you will have a lot more to worry about than Daddy timing you out or getting sued because you stole some stupid fucking avatar.

 

 

 

 

Aaahhh Mr. Kessler what am I going to do with you. The statue my good man is in Belgium. (I think) Perhaps you could get Mr. Draker to show you. The statue that is, not about water sports...

[+ quoththeraven]

You are right about the tax laws. There is a reason the rich get richer, and it is due to politics and taxation. The most actual federal taxes I ever paid in my life was in 1993, the year before I bought I home. Since then the deductions and depreciation just keeps adding up, whether it is because I am a money whore (landlord) or a sex whore (self-employed escort). So I make more and pay less in taxes. And I vote for Obama, and I still can't get myself fucked over really good. Something is rotten in Denmark, and its not Draker or me.

 

As far as the big picture goes, I think its pretty simple: globalization and technology. Public sector unions are doing pretty well because teachers and cops and fire fighters can't be outsourced. Auto workers can. If labor's weapon to fight is unions, corporations have figured out how to use a global economy and the technology that supports it to get everything they want.

 

I actually think we should just lower all corporate taxes to zero and take the issue off the plate. As a companion, I would rationalize it by saying corporations are NOT people so they don't have to pay taxes and they don't get to buy elections. Then I would raise taxes in the rich. If they all wanna protest and move to China, fuck em.

 

In other words, I am waiting for somebody to come along and fuck me really good. Now tell me, how is a woman gonna do that? Bill is a sexual predator, some think, but Hillary?

 

Public sector unions are also doing well because they often can't strike and if they do they and their members are subject to hefty fines.

 

Globalization is impossible to prevent and can be said to do good for less developed countries because business is driven there. Once there's enough demand, there may be pressure to raise wages. But as long as there's a significant gap between wages and living standards, work will flow away from the countries with the highest wages and living standards toward the countries with the lowest wages and living standards that can reasonably produce the goods or services needed.

 

No need to lower corporate taxes to zero. Any corporation subject to them that hasn't already figured out how to lower its taxes to zero needs to fire its tax advisors. Back in the Pleistocene era, my tax professor said as much but in different words and I have no reason to think anything has changed in the meantime.

 

Edited to add: Whoops, almost forgot to add a link to an article about Bernie Sanders' campaign that mentions that Apple and GE pay zero in taxes. Here you go.

 

Corporations need to be considered on par with people unless you wish to deny them access to the constitutional rights provided by the Bill of Rights. (As it is, they don't enjoy the right not to incriminate themselves.) Personally, I think the government should have to get a warrant to see corporate records just as it would if it wanted to see yours or mine.

 

What's wrong is ignoring the fact that the average corporation, which exists solely to accumulate wealth (their big advantages are eternal life, unlike partnerships, which dissolve when a partner dies or leaves, and limited liability), is able to outspend the average individual. When it comes to political contributions, that is a recipe for disaster because money amplifies a corporation's voice and ability to effect change (and possibility of corruption).

 

But I agree with you about raising the marginal rate applied to the wealthiest taxpayers. I'd also like to see studies as to whether the differential between the tax on capital gains and ordinary income has helped investment because if it hasn't, it should be done away with.

 

Finally, you have heard of strap-ons, right?