Read on Twitter
There was a LOT of targeted advertising for Robinhood, especially on finance youtube channels (like Raycon is huge in gaming youtube channels) and the advertising included a couple free stocks. It was meant to be highly accessible and attractive to the average user. https://twitter.com/av_rose_ev/status/1354904967736303620
Also, ruh roh!! https://twitter.com/davejourno/status/1354874367671480325
I'm not sure what the 'leftist' critique being reference is, exactly. I'm not *that* far on the left (I'm no anarcho communist or whatever), but I'm pretty far left.
NOT investing is just stupid. You're going to get old, hopefully, and THEN WHAT.
NOT investing is just stupid. You're going to get old, hopefully, and THEN WHAT.
How do you plan to support yourself?
Oh, you'd just rather not think about it at all, because you think thinking about it and taking steps to secure your future is 'selling out' or something?
Good luck with that. Old you is going to HATE present you.
Oh, you'd just rather not think about it at all, because you think thinking about it and taking steps to secure your future is 'selling out' or something?
Good luck with that. Old you is going to HATE present you.
I know it's also super trendy for far leftists to hate on landlords, just out of principle.
But...that's also dumb. We live in the real world. Most people can't afford to own a home and take on the risks associated with ownership (catastrophic repairs, property tax hikes, etc)
But...that's also dumb. We live in the real world. Most people can't afford to own a home and take on the risks associated with ownership (catastrophic repairs, property tax hikes, etc)
Look, I *firmly* believe that housing is a human right and the state ought to provide housing for those who need it.
The thing is, *in the system we in habit now* the state does provide some housing for those in need. In the US it's called Section 8.
The thing is, *in the system we in habit now* the state does provide some housing for those in need. In the US it's called Section 8.
Last year, I embarked on a financial journey to add a really significant revenue stream in the present, but also as a way to seriously secure a very comfortable future.
I now own 5 rental homes. ALL of which I rent to Section 8.
I now own 5 rental homes. ALL of which I rent to Section 8.
The thing is, there is a MASSIVE housing shortage for people on Section 8. The problem isn't primarily that there are too many people who need it (although that is a HUGE problem and I wish the gov would massively expand the program!).
The problem is landlords tend to hate Sec 8
The problem is landlords tend to hate Sec 8
So the problem is finding housing for people on Sec 8.
Most people on the program are single mothers, and disproportionately single mothers of color (and especially black single mothers) with 2-5 kids.
There are laws for how many bedrooms a recipient needs.
Most people on the program are single mothers, and disproportionately single mothers of color (and especially black single mothers) with 2-5 kids.
There are laws for how many bedrooms a recipient needs.
A mom with 4 kids will need a minimum of 3 bedrooms depending on the genders of the children, and as many as 4.
There is a HUGE huge shortage of 3-4 bedroom units that landlords are willing to accept Sec 8.
There is a HUGE huge shortage of 3-4 bedroom units that landlords are willing to accept Sec 8.
And the thing about Sec 8 vouchers is that if the recipient can't find a unit within (I think) 60 days...THEY GET KICKED OFF THE PROGRAM.
So many of these people are being hung out to dry because there aren't enough UNITS with landlords willing to rent to Sec 8.
So many of these people are being hung out to dry because there aren't enough UNITS with landlords willing to rent to Sec 8.
So those of us who DO rent to Sec 8 are in a high demand, low supply market...providing a service, in effect, to absolutely desperate people...who are often heavily discriminated against by landlords refusing to even entertain a Sec 8 tenant.
So the thing is, I generally only rent 3-4 bedroom units (and I definitely prefer 4br units) and the tenants are DESPERATE to find them. As soon as one gets advertised, my phone rings off the hook with applicants. And very often there are tears and strife.
My most recent tenant was literally about to lose her voucher because there simply were ZERO units available (3 or 4 bedroom) in THREE COUNTIES.
Oh there are units available! But like I said, most landlords are massively biased and discriminate against Sec 8 tenants.
Oh there are units available! But like I said, most landlords are massively biased and discriminate against Sec 8 tenants.
So these tenants call dozens, hundreds of units...and every landlord says 'no, I won't accept a Sec 8 voucher.'
So when you shit on landlords simpliciter out of principle...I think you're being an idealistic shit and aren't aware of this sort of serious shortage.
So when you shit on landlords simpliciter out of principle...I think you're being an idealistic shit and aren't aware of this sort of serious shortage.
I'm sure these far 'leftists' agree that housing should be a human right and the state ought to provide for those in need.
But the CURRENT system is such that there are relatively few GOVERNMENT-RUN housing options. The gov prefers the voucher program and private landlords.
But the CURRENT system is such that there are relatively few GOVERNMENT-RUN housing options. The gov prefers the voucher program and private landlords.
So do I, as a landlord, and a 'leftist' wish that there were a way bigger supply of free public housing?
FUCK YES.
Do I think the government should be owning/operating the housing?
MAYBE!! I worry about things like 'the projects' becoming unsafe and run down.
FUCK YES.
Do I think the government should be owning/operating the housing?
MAYBE!! I worry about things like 'the projects' becoming unsafe and run down.
The thing is, Sec 8 shifting to a voucher model was EXPLICITLY designed so that disadvantaged parents and their children could rent units NOT in shitty neighborhoods.
But...it turns out that massive bias and discrimination by landlords of such units means there's a shortage.
But...it turns out that massive bias and discrimination by landlords of such units means there's a shortage.
Personally, I think the bias against Sec 8 tenants ("they'll trash your unit," "they don't have jobs and won't take care of it," etc etc) is totally baseless.
Non Sec 8 tenants will fuck up your shit, too!
Non Sec 8 tenants will fuck up your shit, too!
THE THING IS, I think Sec 8 tenants have much much more incentive to not fuck up your shit because IF THEY DO, they get kicked off the program for a minimum of 5yrs, and may never get back onto it because demand to get on the program is so high.
In many housing authority catch basins, they aren't even accepting people on the WAITING LIST anymore. The waiting lists are even closed...cuz there's just so many.
And staying on the program is a HUGE deal for Sec 8 families.
So I think they are more likely to be good tenants.
And staying on the program is a HUGE deal for Sec 8 families.
So I think they are more likely to be good tenants.
Also, the federal government sets our maximum rent rates (based mostly on number of bedrooms, but sometimes square footage too)...and those rates are often higher than 'free' market rates.
Also, hey, we have a pandemic. The government is paying the rent...
Also, hey, we have a pandemic. The government is paying the rent...
That eviction crisis?
Doesn't affect Sec 8 tenants and their landlords!
I get paid on the 1st every month...in full...no matter what. Cuz it's coming from the government.
Doesn't affect Sec 8 tenants and their landlords!
I get paid on the 1st every month...in full...no matter what. Cuz it's coming from the government.
So as far as I'm concerned, PERSONALLY and selfishly, it's fucking GREAT that most landlords are biased against Sec 8 because it basically guarantees me a fantastic and sizeable applicant pool, with above market rents, that are never late, with long-term motivated tenants.
I think landlords that eschew Sec 8 are generally really stupid...so...thanks!
Am I exploiting the tenants?
I'd like to see an argument how. They're SUPER fucking happy to have a landlord willing to rent, to keep a place in good working order...and THEY aren't paying.
Am I exploiting the tenants?
I'd like to see an argument how. They're SUPER fucking happy to have a landlord willing to rent, to keep a place in good working order...and THEY aren't paying.
For clarity, many Sec 8 tenants DO pay some of the rent based on their income, up to a max percentage. But if they lose their job (like I DUNNO, DURING A PANDEMIC), then Sec 8 pays 100% of the rent.
So yeah...I'm a socialist landlord.
We exist. And *in the current system* it's a damned good thing we do. But there aren't many of us.
We exist. And *in the current system* it's a damned good thing we do. But there aren't many of us.
Oh, ALSO, the US tax code is ridiculously biased towards landlords. Because of course...rich people who own property wrote the damned code.
So...it's just such a ridiculously tax-advantaged form of income or wealth-development.
So...it's just such a ridiculously tax-advantaged form of income or wealth-development.
Basically, I think there are ways to make profit without exploiting people...
...and making money is not inherently a bad thing, nor is being a landlord.
ALSO, I kinda wish I could explain to people that there are really fantastic ways to buy a house for less than you think.
...and making money is not inherently a bad thing, nor is being a landlord.
ALSO, I kinda wish I could explain to people that there are really fantastic ways to buy a house for less than you think.
