Replies to post #24915 on Politics and Money

[n4807g]

I had a friend who graduated from college (with me) and he made the very big mistake of buying rental properties in Cambridge, MA. I don't know the details but a number of them were placed as "rent control" apartments. I freely admit I don't really understand all the complexities of how Rent Control works, but my friend eventually had to file for bankruptcy because the rent stayed constant over time but his costs continued to increase.

[properlynumb]

Good for you!
You've got prime rentals...
I've seen many communities shift from home ownership to rentals.
This is the start of the total degradation of a neighborhood.
Even in those 'gated communities'...would you buy a house next door to a rental?

Higher quality tenants?

Please.....don't try to sell that.
Gated community with a home owner's assoc. that would allow rentals?
I'm sure they exist but it does sound like a trailer park with a foundation.
And I have no problem with that but for the taxes assesed and the rental costs constrict the ability for renters to save enough to get out of 'Potter's Field'

http://en.wikipedia.org/wiki/Potter%27s_field

[chloebware]

So no section 8?