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vithdude

Some people

Vith
8 years ago

How can some landlords not have the decency to keep their rentals meeting minimum housing standards? This article shows how evil some people can be. The amount of greed is unfathomable.

http://www.msn.com/en-us/money/realestate/why-losing-a-home-means-losing-everything/ar-BBq8Uts?li=BBnbfcN

Doreen's building, as it turns out, is among Sherrena's most profitable. The landlord is a shrewd businesswoman. She sees opportunity in the foreclosure crisis, buying up "other peoples' failures" and converting them into lucrative rentals. She knows that a two-bedroom in Milwaukee's segregated inner-city rents for about as much as a two-bedroom in a nicer part of town. But properties in nicer neighborhoods cost more to buy, so the financial returns on rent in the ghetto are far better.

Sherrena knows she'll get a big payout every February, when desperate families behind on their rent turn over their Earned Income Tax Credits to her (take note, Paul Ryan: "In many cases," Desmond writes, "this annual benefit is as much a boost to landlords as to low-income working families"). She knows that it's often cheaper to evict a family than to pay for the repairs they demand. She knows that when a building is finally run into the ground, she can stop paying the property taxes and surrender it to the city.

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