The landlords aren’t being greedy, they’re being shrewd and savvy. If the price of rent was going down, not up, and if the tenants demanded a cut in the rent from the landlord because the market rate rent was declining, would you describe the tenant as greedy in that scenario? Or is it simply that the tenant is trying to make sure they don’t overpay for a product/service? The same is true in reverse - the landlord wants to make sure he/she is not undercharging for a product/service. The only reason the landlords can raise the rent is because there are tenants who are willing to pay it and who are ready to move in if the current tenants move out. If you were selling something on eBay and somebody offered you a price that you considered acceptable and then five minutes later somebody offered you a price that was much higher, are you greedy for taking the higher price or are you shrewd and savvy for trying to get the best possible price for your product. And if you want to look at this from the tenant‘s perspective, then consider this. For every tenant living in an apartment, house, condo, or other rental property and paying less than market rate rent for the premises, there is another potential tenant who needs a place to live but who is shut out by the existing tenant. So not raising the rent wouldn’t solve the problem because at the end of the day, somebody is going to be homeless. The problem is not that landlords are greedy, the problem is that there are not enough rental properties available to accommodate all of the people who are looking for a place to live. Because of the current mismatch between supply and demand, the landlords are not behaving greedily, they are behaving rationally.
This is what FREE RENT gets you. Mom and pops are gone, major corps take over and jack the rent us, FEDS step in to help and now you are a welfare dependent, Do what they say or live in a FEMA CAMP. ENJOY GOV HANDOUTS
the problem is the landlords have cornered the market, covered in laws that protect their interests. the solution is for the government to buy up or build, buildings, convert them into single family dwellings, offering them to people at a reasonable rate, creating a alternative for renters. in turn this would create competition between land mangers. it's that simple. The free market has become abusive, leaving human beings with no alternatives/ *ENOUGH IS ENOUGH*
I think Michigan is a good state to move. Not directly in tornado alley, plenty of water, good soil to grow a garden. If I were younger and didn't already own property that is where I'd consider moving.
I’m so happy I don’t rent....I feel bad for so many who are being evicted. This is horrible. I work in home care and I’m worried bout one of my clients whose 70 years old and might be loosing her apartment cause landlord wants to sell the apartment building. Plus there’s a woman who lives above her who has cancer and caring for her two young grandkids.
It's not going down. It will go up even higher. As more and more people move to Detroit and Michigan due to the lack there of "FRESH WATER" nation wide - (Except in the Great Lakes and Surrounding States).
I HAVE 5 RENTALS AND EVICTED ALL THE TENANTS FOR REMODELING....NOW I'M GETTING DOUBLE WHAT THEY PAID....AND I WAS ABLE TO PURCHASE A NEW 911...LIFE IS GOOD
Perhaps you should look at it differently. Instead of concluding that landlords are getting rich from these rent hikes, maybe you should realize that for years and years, tenants have been paying less to rent out these properties than what these properties were actually worth and now the landlords are simply trying to receive actual fair market value for the properties that they are leasing out.
And you talk you're paying $1114 a month and sometimes you're paying $1375 a month And sometimes it's 1 385 a month Times it's 2000 and that's in Utah and the rent prices is raising up almost every month and that's why the homelessness is increasing here in Utah I wouldn't be surprised if the homelessness is ever increasing there
This is what FREE RENT gets you. Mom and pops are gone, major corps take over and jack the rent us, FEDS step in to help and now you are a welfare dependent, Do what they say or live in a FEMA CAMP. ENJOY GOV HANDOUTS
Given how competitive house payments are to rent cost; why rent? If I was able to buy my home; literally anyone can! Monthy rent payments, or monthly house payments!! No brainer!!t
Not happening all over the world haha haha haha 😂😂😂 yeah ok your just plain ignorant haha can't believe people like you really exist brain dead to what's happening right in front of your face.
@@choosey87 3 percent every 12 months. I got a landlord tenant book from a library. My landlord raised my rent by 50 dollars too. I confronted him and put my rent into an escrow with a lawyer. Landlord are doing this on purpose I have a lease.
@@jenniferpoland8886 I remember back in 2011, when i was renewing lease in Farmington Hills, they was trying to up my rent by $50 because they said I received my original rent price on a special, but i told them the increase was too high, and asked if the could lower it, and they did to $25. Then the next year it increased $75. I said it was too high, and the only option I was given was to renew with the new price or move, and this was and still is a very big commercial apartment complex 😕
You’re not the sharpest tool in the shed are you that’s the government sending money these are private companies increasing rent nothing to do with government
@@keithhutchins8803 It’s quite ironic you want to try and throw insults around, meanwhile, I checked out your channel and you look like a weak, old decrepit, wheel chair bound Herman Munster living in an old run down apartment, about to die from HIV infection.
@@cherimerchant6279 Landlords are simply sellers of a product/service. If people are willing to pay more for the product/service than what the landlord is charging, then it is not greedy, but rather, it is rational for the landlord to raise his/her price. If you, for example, decide to sell your 2016 model year vehicle, would you sell it for what it was worth two years ago before the chip crisis reared its ugly head or would you sell it for what you could get for it today (which is much more than you could’ve gotten two years ago)? And if you decide to sell it for the price you could get for it today, would that make you greedy or would that make you rational? I submit to you that it is not greedy for a landlord to raise his/her rent to current market value. Rather, it would be foolish for him/her to continue renting the property out for hundreds of dollars per month less than what people are willing to pay for it. Landlords are not in business to provide housing to tenants. They are in business to make a profit.
@@MrSethmo13 this is the problem...business people have no decency in this country anymore every is about money and not fairness and working for the good of all, its every man for himself greed, and the minds of people in this country has been brainwashed so bad into thinking it's ok to get ahead off the backs of whoever they can exploit ,no morals anymore,
@@cherimerchant6279 You seem to have a fundamental misunderstanding of a landlord‘s motivation. I tried to sum it up in the last sentence of my comment when I stated that landlords are not in business to provide housing to tenants, but rather, they are in business to make a profit. You may think that sounds heartless, but it goes to the core of every single business entity‘s motivation. The only reason businesses operate is to make money. This has always been the case. It sounds like you are romanticizing the past and crediting business enterprises of old as having altruistic and philanthropic motivations, But you are mistaken. Whether we are talking about today or 100 years ago, businesses have always operated their business enterprises for the purposes of making money. General Motors, for example, does not build cars because it wants to give people the ability to drive themselves wherever they want to go. General Motors builds cars because it knows that people want to be able to drive themselves wherever they want to go and that they would be willing to pay for a machine that gives them that ability. And for that reason, it has been making automobiles for over 100 years. If it were not profitable for General Motors to sell cars, then it would not be in the business of selling cars. This is true whether we are talking about today or whether we are talking about 1908 when General Motors corporation was founded. This is just one example. The bottom line is that profit is the “why“ behind what every business enterprise does. This is not good or bad, it is simply the way things are. If a business enterprise could not make a profit, it would not operate (And if it tried to operate without making a profit, it would not be in business for long). Turning back to landlords, if the government were to try to cap what a landlord could earn, landlords would not become landlords. Instead of buying rental property or apartment buildings, landlords would invest their money in the stock market or in some other endeavor where they could make more profit. And then there would be fewer landlords which, in turn, would lead to a greatly reduced availability of rental housing (and a correspondingly higher rents for rental property). And then renters looking for a place to live would truly be in trouble because competition for housing would become exponentially worse than it is today. So in this sense, the profit motive is a good thing. Going one step further, because the landlords have the opportunity to make a large profit by owning rental property, more investors will become landlords and buy rental property and thereby increase the number of rental properties available for tenants to occupy. As the availability of rental properties increases, the price/rent for a rental property will inevitably go down. So the elevated prices that landlords are able to charge now is will invariably lead to an influx of rental properties which will increase competition amongst landlords which will lead to better prices for tenants. It just won’t happen immediately because building rental properties and buying rental properties is a time-consuming process. So while you might think that the “every man for himself“ philosophy of landlords (as you have described) is a bad thing, it is the landlord‘s profit motive that will, in the end, come to the rescue of tenants looking for a place to live. And before you condemn landlords to harshly, you should consider your own behavior. When you go grocery shopping or buy gasoline for your car or purchase school supplies or go to a restaurant, do you take into consideration the financial condition of the business entity who your consumer dollars will be benefiting? Or do you simply look for the least expensive option? If the answer is that you shop at Walmart for clothes instead of Macy’s because you’re trying to stretch your dollar and get the most bang for your buck, then you’re doing exactly the same thing that landlords are doing. They are just trying to get the most bucks for their bang. Let me put it another way. If your employer called you into a meeting and offered to pay you $400 a month more than you are currently earning, but that they will give you that raise only if you wanted it, would you take the additional money or would you say “no thank you“ out of concern for the financial condition of your employer? If you shop at Walmart instead of Macy’s and if you would take the raise instead of leaving it on the table to help your employer make ends meet, then you’re doing exactly the same thing that you are condemning landlords for doing. You’re trying to minimize your costs and maximize your income and that is all that landlords are trying to do.
@@MrSethmo13 no, not quite right, when people didn't move around so much and stayed in the towns they were born in and generations stayed, businesses were run by owners that were a perminate part of a community, owners took pride in services that provided needs of the commuinity at fair prices,,businesses have lost that and turned greedy and selfserving ,like you said ,owners are in it to make money, not provide basic needs of the community without exploiting their incomes in high prices, and expecting to live overnight extravagant lifestyles off the incomes of struggling poor, it's got to be such an accepted practice in this country that business thinks it's normal, nobody but old people remember when it was differant, ..that's how we got homelessness, hunger, etc, so you discribed exactly what went wrong,
I live in a small city in upstate New York. My rent last year was 722 for a one bed. Next year it will be 1022. That’s a 41% increase. Just sharing the story for others to see.oh and I have a corporate landlord
Don't they have plenty of abondoned houses in Detroit????? Someone ought to fix those abondoned houses for human habitation......fix those blights and turn them into affordable housing
This is happening all over the world
Not just in the USA
Hush!
Breaking: The rent is too damn high!
So instead put that $ into house payments! Duhhh.
Greedy landlords are the problem.
Totally agree
The landlords aren’t being greedy, they’re being shrewd and savvy. If the price of rent was going down, not up, and if the tenants demanded a cut in the rent from the landlord because the market rate rent was declining, would you describe the tenant as greedy in that scenario? Or is it simply that the tenant is trying to make sure they don’t overpay for a product/service? The same is true in reverse - the landlord wants to make sure he/she is not undercharging for a product/service. The only reason the landlords can raise the rent is because there are tenants who are willing to pay it and who are ready to move in if the current tenants move out. If you were selling something on eBay and somebody offered you a price that you considered acceptable and then five minutes later somebody offered you a price that was much higher, are you greedy for taking the higher price or are you shrewd and savvy for trying to get the best possible price for your product. And if you want to look at this from the tenant‘s perspective, then consider this. For every tenant living in an apartment, house, condo, or other rental property and paying less than market rate rent for the premises, there is another potential tenant who needs a place to live but who is shut out by the existing tenant. So not raising the rent wouldn’t solve the problem because at the end of the day, somebody is going to be homeless. The problem is not that landlords are greedy, the problem is that there are not enough rental properties available to accommodate all of the people who are looking for a place to live. Because of the current mismatch between supply and demand, the landlords are not behaving greedily, they are behaving rationally.
This is what FREE RENT gets you. Mom and pops are gone, major corps take over and jack the rent us, FEDS step in to help and now you are a welfare dependent, Do what they say or live in a FEMA CAMP. ENJOY GOV HANDOUTS
That's awfully high for rental property to be charged with payment to the customers who are trying to live on their own.
the problem is the landlords have cornered the market, covered in laws that protect their interests. the solution is for the government to buy up or build, buildings, convert them into single family dwellings, offering them to people at a reasonable rate, creating a alternative for renters. in turn this would create competition between land mangers. it's that simple. The free market has become abusive, leaving human beings with no alternatives/
*ENOUGH IS ENOUGH*
I think Michigan is a good state to move. Not directly in tornado alley, plenty of water, good soil to grow a garden. If I were younger and didn't already own property that is where I'd consider moving.
Wow my mortgage payment was 610.00 a month on a 20 year loan bought in 1999 when I made the last payment in 2019 my my my how time fly
SMART.
Yep, my tax and insurance is minimal compared to rent. Benefits to buying a home when they were affordable and easy to buy.
You could have found a less exspensive home!
2 bed for 1200 is very very very cheap!!! Here in PA is up around 1800++
I’m so happy I don’t rent....I feel bad for so many who are being evicted. This is horrible. I work in home care and I’m worried bout one of my clients whose 70 years old and might be loosing her apartment cause landlord wants to sell the apartment building. Plus there’s a woman who lives above her who has cancer and caring for her two young grandkids.
It’s just landlords being greedy
Weren’t houses going for 50k not long ago? Why didn’t people own when they had a chance?
No
Because you have to be responsible when you buy a house and that's not even a word in most Detroiter's vocabulary.
Entitlement and people live to complain and be victims
It's not going down. It will go up even higher. As more and more people move to Detroit and Michigan due to the lack there of "FRESH WATER" nation wide - (Except in the Great Lakes and Surrounding States).
I HAVE 5 RENTALS AND EVICTED ALL THE TENANTS FOR REMODELING....NOW I'M GETTING DOUBLE WHAT THEY PAID....AND I WAS ABLE TO PURCHASE A NEW 911...LIFE IS GOOD
Somebody is getting rich with all these rent hikes
Perhaps you should look at it differently. Instead of concluding that landlords are getting rich from these rent hikes, maybe you should realize that for years and years, tenants have been paying less to rent out these properties than what these properties were actually worth and now the landlords are simply trying to receive actual fair market value for the properties that they are leasing out.
My mortgage stays the same.
And you talk you're paying $1114 a month and sometimes you're paying $1375 a month And sometimes it's 1 385 a month Times it's 2000 and that's in Utah and the rent prices is raising up almost every month and that's why the homelessness is increasing here in Utah I wouldn't be surprised if the homelessness is ever increasing there
This is what FREE RENT gets you. Mom and pops are gone, major corps take over and jack the rent us, FEDS step in to help and now you are a welfare dependent, Do what they say or live in a FEMA CAMP. ENJOY GOV HANDOUTS
Given how competitive house payments are to rent cost; why rent? If I was able to buy my home; literally anyone can! Monthy rent payments, or monthly house payments!! No brainer!!t
Biden's new normal, hahaha ha ha haha well elections have consciences 👍
Stupid statement
This is happening all over the world 🌍
Biden is not the President of the world 🌎
Educate yourself
Not happening all over the world haha haha haha 😂😂😂 yeah ok your just plain ignorant haha can't believe people like you really exist brain dead to what's happening right in front of your face.
@@MusicLover-ui9sm educate yourself, Biden is the leader of the free world,moron keep your ignorance to yourself.
News flash. This ain't Bidens doing. This is capitalism at its finest. Shit would have happened under Trumptard as well......
@@AKAAAK it did happen under Trump
I'm sorry but $50/month increase in rent is nothing 😐
It's too much by law. It should be 30 dollars
@@jenniferpoland8886 Which law is that, because my friend's rent jumped 20% ( $200) to renew in Ann Arbor?
@@choosey87 3 percent every 12 months. I got a landlord tenant book from a library. My landlord raised my rent by 50 dollars too. I confronted him and put my rent into an escrow with a lawyer. Landlord are doing this on purpose I have a lease.
@@jenniferpoland8886 Was that recently after the covid pandemic like this year 2022? Can you be more specific about source of information?
@@jenniferpoland8886 I remember back in 2011, when i was renewing lease in Farmington Hills, they was trying to up my rent by $50 because they said I received my original rent price on a special, but i told them the increase was too high, and asked if the could lower it, and they did to $25. Then the next year it increased $75. I said it was too high, and the only option I was given was to renew with the new price or move, and this was and still is a very big commercial apartment complex 😕
Don’t worry we have BILLIONS to send to Ukraine!!
You’re not the sharpest tool in the shed are you that’s the government sending money these are private companies increasing rent nothing to do with government
@@keithhutchins8803 It’s quite ironic you want to try and throw insults around, meanwhile, I checked out your channel and you look like a weak, old decrepit, wheel chair bound Herman Munster living in an old run down apartment, about to die from HIV infection.
They sending billions to other countries while we're struggling
Ignorant comment;
Rite
Rents needs to be capped ??
yes ,because landlords can't control themselves,
@@cherimerchant6279 Landlords are simply sellers of a product/service. If people are willing to pay more for the product/service than what the landlord is charging, then it is not greedy, but rather, it is rational for the landlord to raise his/her price. If you, for example, decide to sell your 2016 model year vehicle, would you sell it for what it was worth two years ago before the chip crisis reared its ugly head or would you sell it for what you could get for it today (which is much more than you could’ve gotten two years ago)? And if you decide to sell it for the price you could get for it today, would that make you greedy or would that make you rational? I submit to you that it is not greedy for a landlord to raise his/her rent to current market value. Rather, it would be foolish for him/her to continue renting the property out for hundreds of dollars per month less than what people are willing to pay for it. Landlords are not in business to provide housing to tenants. They are in business to make a profit.
@@MrSethmo13 this is the problem...business people have no decency in this country anymore every is about money and not fairness and working for the good of all, its every man for himself greed, and the minds of people in this country has been brainwashed so bad into thinking it's ok to get ahead off the backs of whoever they can exploit ,no morals anymore,
@@cherimerchant6279 You seem to have a fundamental misunderstanding of a landlord‘s motivation. I tried to sum it up in the last sentence of my comment when I stated that landlords are not in business to provide housing to tenants, but rather, they are in business to make a profit. You may think that sounds heartless, but it goes to the core of every single business entity‘s motivation. The only reason businesses operate is to make money. This has always been the case. It sounds like you are romanticizing the past and crediting business enterprises of old as having altruistic and philanthropic motivations, But you are mistaken. Whether we are talking about today or 100 years ago, businesses have always operated their business enterprises for the purposes of making money. General Motors, for example, does not build cars because it wants to give people the ability to drive themselves wherever they want to go. General Motors builds cars because it knows that people want to be able to drive themselves wherever they want to go and that they would be willing to pay for a machine that gives them that ability. And for that reason, it has been making automobiles for over 100 years. If it were not profitable for General Motors to sell cars, then it would not be in the business of selling cars. This is true whether we are talking about today or whether we are talking about 1908 when General Motors corporation was founded. This is just one example.
The bottom line is that profit is the “why“ behind what every business enterprise does. This is not good or bad, it is simply the way things are. If a business enterprise could not make a profit, it would not operate (And if it tried to operate without making a profit, it would not be in business for long).
Turning back to landlords, if the government were to try to cap what a landlord could earn, landlords would not become landlords. Instead of buying rental property or apartment buildings, landlords would invest their money in the stock market or in some other endeavor where they could make more profit. And then there would be fewer landlords which, in turn, would lead to a greatly reduced availability of rental housing (and a correspondingly higher rents for rental property). And then renters looking for a place to live would truly be in trouble because competition for housing would become exponentially worse than it is today. So in this sense, the profit motive is a good thing. Going one step further, because the landlords have the opportunity to make a large profit by owning rental property, more investors will become landlords and buy rental property and thereby increase the number of rental properties available for tenants to occupy. As the availability of rental properties increases, the price/rent for a rental property will inevitably go down. So the elevated prices that landlords are able to charge now is will invariably lead to an influx of rental properties which will increase competition amongst landlords which will lead to better prices for tenants. It just won’t happen immediately because building rental properties and buying rental properties is a time-consuming process. So while you might think that the “every man for himself“ philosophy of landlords (as you have described) is a bad thing, it is the landlord‘s profit motive that will, in the end, come to the rescue of tenants looking for a place to live.
And before you condemn landlords to harshly, you should consider your own behavior. When you go grocery shopping or buy gasoline for your car or purchase school supplies or go to a restaurant, do you take into consideration the financial condition of the business entity who your consumer dollars will be benefiting? Or do you simply look for the least expensive option? If the answer is that you shop at Walmart for clothes instead of Macy’s because you’re trying to stretch your dollar and get the most bang for your buck, then you’re doing exactly the same thing that landlords are doing. They are just trying to get the most bucks for their bang. Let me put it another way. If your employer called you into a meeting and offered to pay you $400 a month more than you are currently earning, but that they will give you that raise only if you wanted it, would you take the additional money or would you say “no thank you“ out of concern for the financial condition of your employer? If you shop at Walmart instead of Macy’s and if you would take the raise instead of leaving it on the table to help your employer make ends meet, then you’re doing exactly the same thing that you are condemning landlords for doing. You’re trying to minimize your costs and maximize your income and that is all that landlords are trying to do.
@@MrSethmo13 no, not quite right, when people didn't move around so much and stayed in the towns they were born in and generations stayed, businesses were run by owners that were a perminate part of a community, owners took pride in services that provided needs of the commuinity at fair prices,,businesses have lost that and turned greedy and selfserving ,like you said ,owners are in it to make money, not provide basic needs of the community without exploiting their incomes in high prices, and expecting to live overnight extravagant lifestyles off the incomes of struggling poor, it's got to be such an accepted practice in this country that business thinks it's normal, nobody but old people remember when it was differant, ..that's how we got homelessness, hunger, etc, so you discribed exactly what went wrong,
GREED
Most definately
This is happening all over the country where is the shame
I live in a small city in upstate New York. My rent last year was 722 for a one bed. Next year it will be 1022. That’s a 41% increase. Just sharing the story for others to see.oh and I have a corporate landlord
Both of my adult children are paying over $1000 a month for 1 bedrooms in both h metro Detroit and Central Florida.
@@MultiAnne36 sorry to hear !
1700 to 1800 a month with me in the living room with 6 ppl family (4 little kids I didn't know of underneath me.
DAMN SHAME!
Don't they have plenty of abondoned houses in Detroit????? Someone ought to fix those abondoned houses for human habitation......fix those blights and turn them into affordable housing
DETROIT a Ghetto
no just greed
Hope all the landlords go bankrupt 1 day greedy .....