American Economics Thread
- Thread starter Bernard
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I can attest to that, I only rent to beautiful Cougars....lol it give me the incentives to check the newly refurbished apartment frequently.
It's why we're overseas bro
No, it depends on where you live in the US and how close you're willing skirt the line. If you're doing everything above board, it'll also take months for the cops to do anything about it. If I rent out, Manqiangrexue's approach gives me some food for thought.We cannot get away with stuff like that as a landlord in Canada.
That is the difference between Canada and America.
America believes in property rights and the rights of capital holders.
Canada is different.
I saw youtube videos that in America the sheriffs comes with guns within weeks to evict someone. That does not happen in Canada.
God bless America!
manqiangrexue
Brigadier
No, America's horrible. Its tenant protection laws essentially make landlords shoulder the homeless problem. My friend's dad followed the law to the letter so he ended up housing a bum for a year for free before he got the police eviction order because the legal process takes too long and the dude kept appealing. Did you know that in America, if you have a deliquent tenant, not only do you have to pay to keep his/her utilities on, you technically and legally need to keep making repairs to the property to maintain its livability for the deadbeat robbing you?? I'm not going to be victimized like that. To me, it's straightforward. You pay, you have the landlord's approval, you stay. If the landlord rejects your tenancy, you have your 30 days to go. You miss rent, you go immediately. Doesn't matter if you have to be homeless, you can't stay for free in someone's place against their will; it's the same as robbing a supermarket because you're hungry but worse, more like staying in a supermarket and robbing it 24/7 as the owner is forced to look at you and bring you napkins.We cannot get away with stuff like that as a landlord in Canada.
That is the difference between Canada and America.
America believes in property rights and the rights of capital holders.
Canada is different.
I saw youtube videos that in America the sheriffs comes with guns within weeks to evict someone. That does not happen in Canada.
God bless America!
If PiSigma and I followed all the laws, we'd be stuck with deadbeats. We're not even legally allowed to only take Chinese/Asian tenants because that's discrimination. But you have to know how to thread the middle line so that you make them too uncomfortable to stay but also not worth it to sue, whether it be because they can't come up with the evidence or that you have charges made up to countersue for that they'd rather not deal with.
I suspect it's the same deal with Canada. If you're goody goody, a defunct and unwieldy legal system will bite you (unwieldy in that it takes months to over a year to evict someone due to the beaurocracy). If you know how to thread, you can make it bite them instead (make it more unappetizing for them to use that defunct system to try to attack you).
I'd split the family rental to single Chinese students or professionals, basically educated people with careers. Turning off utilities is illegal in all cases in the US so can't do that here. If you can in Canada, that's awesome but would they be able to call the utilities companies and pay to turn them on? In any case, you can thread the middle line but never do something clearly illegal with evidence. When I threw that dude's shit out, my defense was 1. he owes me $1,100 so any damages have to be assessed against that, and 2. he had already left the property and declared moveout so it was abandoned junk removal, not an illegal eviction. When I told the other guy I'd play 24 hour psych war against him, I just said it to his face; he's got no proof anything happened.
Financially Responsible People Club, yay!
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Who's gonna start the overseas landlord support thread
So long as there's a sub-thread for those of us landlords based in tax havens, I don't care.Who's gonna start the overseas landlord support thread
And you don't have this in China because of the different tax policies regarding share buybacks and dividend payouts in general. Maybe that's why you have such a weaker stock market there.
Companies in China are also generally younger and more industry-oriented so they can still invest more in growth (productivity and wage growth) because they have more opportunities and are not "rent-seeking" in nature like in the US when the money stays useless and gets transferred into share buybacks and dividends to increase their oligarch net worths instead of the real economy and common prosperity.
Companies in China are also generally younger and more industry-oriented so they can still invest more in growth (productivity and wage growth) because they have more opportunities and are not "rent-seeking" in nature like in the US when the money stays useless and gets transferred into share buybacks and dividends to increase their oligarch net worths instead of the real economy and common prosperity.
Buying a new car in what is basically an Iron Curtain command economy is a harrowing experience. I know this may be tough to hear but I am getting reminiscent of the Yugo.
That is what happens when political motivation trumps operational efficiency.