Quote:
Originally Posted by stan the man
When I first moved here many year ago. You could only own one house. Of course there was always the people Who thought it was the American way to find a way to beat the system. Back then they would buy one house and tell of villages that the house they bought was either too big or too small so they wanted to buy another one while the original house was up for sale. But the asking price for the original house was so high that nobody would ever buy it and therefore they were able to buy another house.. The second house became a rental. They would then take the original house off the market and stay in the original house. But as time went on and the developer got greedy he really didn't care That a good development is "owner occupied" and not people who buy for investment. I know of some communities where it is not legal to own two homes and the difference is like night and day. Rentals bring problems,, don't get me wrong there are people that want to rent before they buy but there also the entrepreneurs who could care less who they rent to as long as they make money. You can see it in some of the neighborhoods where on some blocks there are many rentals and the camaraderie between the neighbors ceases to exist. This is always not the case There are exceptions. When it is owner occupied seems to be a much better neighborhood.
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Never heard about owning one house. I think you are only allowed to buy two NEW houses at a time...still.
It is o.k. to make money.
It is o.k. to own a home you rent out. .
It isn't o.k. when the owner of the home fails to keep it nice and up to par of the neighborhood it's in. Or to rent it out by the day...or allow a bunch of people who don't know each other to rent it.
I watch Judge Judy and I know stuff.