LAT: To bid or not to bid? With Angel Stadium sale in limbo, Anaheim is on the clock

[Dollar Bill]

https://www.latimes.com/sports/angels/story/2021-12-20/anaheim-angel-stadium-land-deal-in-jeopardy

[DCAngelsFan]

Ah, it all makes more sense, now - the state saw an opportunity to extort some money from Moreno by monkey-wrenching this - they'll suggest a settlement like "'Donate' $30m to affordable housing (just make the check payable to "cash") and we can make this all go away."

 

[HaloBronco]

13 hours ago, DCAngelsFan said:

Ah, it all makes more sense, now - the state saw an opportunity to extort some money from Moreno by monkey-wrenching this - they'll suggest a settlement like "'Donate' $30m to affordable housing (just make the check payable to "cash") and we can make this all go away."

 

Unfortunately this is how government works. Corruption at all levels.    

[Dtwncbad]

How many people are legitimately concerned that some of the housing located at that site be “affordable”?

I personally could not care less how much the new homes there cost because they are ADDED housing units.  It is not like they are displacing low income people and replacing affordable housing with mansions.

So who cares?

 

[Taylor]

Poor Arte. Such a victim of the government.

[Taylor]

1 hour ago, Dtwncbad said:

How many people are legitimately concerned that some of the housing located at that site be “affordable”?

I personally could not care less how much the new homes there cost because they are ADDED housing units.  It is not like they are displacing low income people and replacing affordable housing with mansions.

So who cares?

 

Have you looked at rent prices in OC lately?

[Dtwncbad]

1 hour ago, Taylor said:

Have you looked at rent prices in OC lately?

Rent is higher in nicer areas than worse areas.  What exactly is your point?

[Taylor]

Just now, Dtwncbad said:

Rent is higher in nicer areas than worse areas.  What exactly is your point?

LOL, it's insanely gouged here, even in the "less nice" areas. Our landlord raised our rent $150/month this year and blamed COVID.

[Dtwncbad]

2 minutes ago, Taylor said:

LOL, it's insanely gouged here, even in the "less nice" areas. Our landlord raised our rent $150/month this year and blamed COVID.

I challenge your usage of “gouged.”

You don’t think his expenses went up?  And why should rent NOT go up when everything else gets more and more expensive?

Do you have any idea what it costs to own and manage rental properties?

 

Edited December 22, 2021 by Dtwncbad

[Angelsjunky]

I hope they move to Ames, Iowa.

For @Lou.

[Taylor]

Just now, Dtwncbad said:

I challenge your usage of “gouged.”

You don’t think his expenses went up?  And why should rent NOT go up when everything else gets more and more expensive?

Do you have any idea what it costs to own and manage rental properties?

All I'm saying is the cost of housing has risen much, much faster than the rate of inflation, year to year. That's an objective fact. So it's not just struggling landlords trying to stay in the black.

[Dtwncbad]

10 minutes ago, Taylor said:

LOL, it's insanely gouged here, even in the "less nice" areas. Our landlord raised our rent $150/month this year and blamed COVID.

More feedback:

I have no idea what your landlord has experienced but it is very possible that Covid did cause your rent to go up.

If the landlord has multiple properties and has tenants refusing to pay (very common now because it is almost impossible to evict non-payers during Covid regardless of their actual ability to pay) . . . 
 

Then the landlord has to get as much rent as possible from paying renters to cover their expenses and minimize their losses.

So blame the freeloaders and the government for protecting them.  You just got stuck with the bill.

 

Edited December 22, 2021 by Dtwncbad

[Taylor]

2 minutes ago, Dtwncbad said:

More feedback:

I have no idea what your landlord has experienced but it is very possible that Covid did cause your rent to go up.

If the landlord has multiple properties and has tenants refusing to pay (very common now because it is almost impossible to evict non-payers during Covid regardless of their actual ability to pay) . . . 
 

Then the landlord has to get as much rent as possible from paying renters to cover their expenses and minimize their losses.

So blame the freeloaders and the government for protecting them.  You just got stuck with the bill.

 

Makes sense that because we pay our rent on time every month, we have to bear the burden of the freeloaders. Sounds like our landlord is practicing socialism. Very sad.

[Dtwncbad]

15 minutes ago, Taylor said:

Makes sense that because we pay our rent on time every month, we have to bear the burden of the freeloaders. Sounds like our landlord is practicing socialism. Very sad.

The landlord is not practicing socialism.  The government is forcing it and there are freeloaders loving the system where they don’t pay their fair rent.

The landlord is surviving a socialist element to their business.  That’s not practicing socialism.

And if the increase of $150 isn’t worth it or is out of bounds based on the market, you wouldn’t pay it.

To be honest, I have one rental property.  I like the tenants.  I have them a “below market” original rent because they assured me they were just a quiet, calm settled couple that just wanted a quiet place to relax and they would really take care of the place.

The second they moved in the parties started.  It’s like a college party scene multiple nights a week.  They have college kids and all their kids and friends party there non-stop.

The rent is AT LEAST $500 below market for the area.  I am only legally allowed to raise the rent a tiny bit each year.  Even with the increases, we will never catch up to the market.

So basically every month I am subsidizing this tenant at least $500.  Yet I am sure they don’t like the modest increase in rent every year that still results in them getting a bargain.

They lied about what kind of tenants I should expect and now have a permanent subsidy.  The beer pong party house goes on, and yet I am the “gouging” landlord raising their rent every year.

 

Edited December 22, 2021 by Dtwncbad

[Blarg]

This is a two part idiocy by the State stepping in. 

One is the property is zoned for recreational/commercial which means it was not considered suitable for housing. This is a local juristriction, not State, to determine property usage. 

Two is the property, once sold as "affordable housing" would then be reassesed for it's current value given the area and amenities that it has, making it a much more desireable location and resale would be well out of the range of "affordable housing". 

So the state is only creating a roadblock for either side to accomplish any goals. 

[eligrba]

1 hour ago, Dtwncbad said:

They have college kids and all their kids and friends party there non-stop.

Address?  Asking for a friend.

[eligrba]

Did anyone actually read the article?

[Lou]

2 hours ago, Angelsjunky said:

I hope they move to Ames, Iowa.

For @Lou.

Go Cyclones!

[Taylor]

57 minutes ago, eligrba said:

Did anyone actually read the article?

[DCAngelsFan]

This might be all you really need to read:

Quote

In a Dec. 2 letter to attorneys for the city and Moreno’s company, California Department of Housing and Community Development Deputy Director Megan Kirkeby cited mutual interest in “potential resolution given the uncertainty of litigation.

In other words, settle, or we'll tie you up in court for years.

The state plays with house money - they have zero problem spending money on the court filings because guess who's money that is?  

 

[ten ocho recon scout]

6 hours ago, Taylor said:

LOL, it's insanely gouged here, even in the "less nice" areas. Our landlord raised our rent $150/month this year and blamed COVID.

I have no idea what your rent situation is (house, apartment, etc etc). 

 

That said, theres always another side to the story. For example, the no eviction laws sound great. It helps poor people who lost their job in the pandemic and cant afford rent.

Then theres everyone else. People who know legally theh cant be evicted, and paid zero rent for more than a year. Even with their govt money coming in.

While the owner still has to pay the mortgage and taxes.

Not everyone who goes into business is a corporation. Not everyone can afford a massive loss.

I say this because our calls at work for that exploded during the pandemic. 

Again, i have no idea what your landlords finances are. But its possible they are losing their ass somewhere else

[ten ocho recon scout]

6 hours ago, Taylor said:

Makes sense that because we pay our rent on time every month, we have to bear the burden of the freeloaders. Sounds like our landlord is practicing socialism. Very sad.

@Dtwncbad beat me to it above. But for this point, it reminds me of car insurance. Mine went up twice in the past 7 years. When i called to ask why, they said its my zipcode. My zipcode has more accidents. Even though i havent had a ticket or accident since the 90s.

[beatlesrule]

Not everyone's rent is increasing. In fact, my landlord took $100 off the rent for this month and has not increased my rent in the almost 3 years I've lived here.

[gotbeer]

9 hours ago, Taylor said:

LOL, it's insanely gouged here, even in the "less nice" areas. Our landlord raised our rent $150/month this year and blamed COVID.

Another thing to take into account that hasn't been mentioned yet.  In So Cal, unless you are protected by Prop 13, home values have skyrocketted in the last few years.  Much much higher than the inflation rate.  Like stupid prices everywhere.  I'm sure cities are cumming all over themselves to reassess houses to tax them at current values.  Thus landlords are passing those savings on to you.  

[DCAngelsFan]

13 hours ago, ten ocho recon scout said:

I have no idea what your rent situation is (house, apartment, etc etc). 

 

That said, theres always another side to the story. For example, the no eviction laws sound great. It helps poor people who lost their job in the pandemic and cant afford rent.

Then theres everyone else. People who know legally theh cant be evicted, and paid zero rent for more than a year. Even with their govt money coming in.

While the owner still has to pay the mortgage and taxes.

Not everyone who goes into business is a corporation. Not everyone can afford a massive loss.

I say this because our calls at work for that exploded during the pandemic. 

Again, i have no idea what your landlords finances are. But its possible they are losing their ass somewhere else

From 2018, " 72.5% of single-unit rental properties are owned by individuals, and 59% of those have debt.

https://www.pewresearch.org/fact-tank/2021/08/02/as-national-eviction-ban-expires-a-look-at-who-rents-and-who-owns-in-the-u-s/

https://www.nar.realtor/blogs/economists-outlook/landlord-statistics-from-the-2018-rental-housing-finance-survey

I had a rental property some years ago, and when rented, yielded a cash flow of around -$100/month (tax advantages still made it a win.)  It was mortgaged, as was my primary residence. 

A year of non-payment would've bankrupted me (at best, some predatory REIT would've bought it up at a discount.)

I got out at a good profit - but probably half the people I know who owned rental property have been burned by bad tenants and lost money, some quite a lot.  

Bear in mind, a lot of these "landlords" around me are military or contractors, who've bought a house, and rent it out while on a overseas billet / assignment - they're not rich, they just want to keep their house.