ProvBroker

ProvBroker t1_jbx39u7 wrote

Reply to The Frisk Co by mhb

It’s normal for Fish Co.

There are a few places in the city that will frisk you on the way in (exception not the rule) and typically they provide security of same sex to do it. The women will have their handbag checked quickly, and usually their frisk doesn’t amount to much because they’re dressed for the club.

It’s annoying but the places that bother with it see fights occur pretty often so I understand why they do it.

If they were insisting male security frisk her or something I’d get why you’d be upset and that would also make me pretty sus about it.

Edit: Frisked on the way in right? Or are you saying after they already entered?

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ProvBroker t1_jbuk083 wrote

If you’re pre approved for the amount you commented elsewhere then you’ll absolutely land something if you’re patient. I don’t know what your offers look like, but if you’re being reasonably competitive then there’s no reason you wouldn’t land a contract after a few offers.

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ProvBroker t1_j6tl8oi wrote

Describing her actions as attempting to evict someone obscures that she was perpetrating an armed B&E (granted she was in fact strapped and behaving as described in the article). Although the loss of her life is certainly tragic, attempting an armed extrajudicial eviction was a pretty moronic move.

This is why we have courts and law enforcement officials who handle evictions. Now she’s dead over rent, and this guy is probably going to be convicted of several firearms related felonies and serve time.

Very sad day.

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ProvBroker t1_j5ytecv wrote

You don’t need more people for more demand. The amount of money in the system had ballooned and the cost of that money had plummeted. All of easily accessible cash stokes demand. Same amount of people, the activity increases to match the opportunities of cheap money.

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ProvBroker t1_j5ysju7 wrote

Lenders will allow some income of an occupied multi-family to count towards the mortgage applicants income for the purposes of preapproval and determining spending ceiling. So often times borrowers are approved for a much higher value on a multi-family home. So sometimes it can work out to be more affordable on a monthly basis.

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ProvBroker t1_j5unstd wrote

Demand far outweighs supply. People will accuse me of “oversimplifying” by framing it so plainly, when in reality many are overcomplicating the issue by making speculative claims about rental dynamics, investor practices and intentions, etc.

Objectively I think there is a clear case to be made that prohibitive zoning laws keep new construction from happening, and that this lack of new supply being introduced is our underlying failure. If there were more abundance in housing then we simply would not be experiencing such dramatic price spikes, or at the very least the intensity would be diminished.

Rhode Island cities and towns have authority over their respective zoning decisions as well as commanding the finer details via ordinance. The minimum dimensional requirements of homes and their corresponding lots prevent more modest builds and result in construction that is necessarily more expensive. It is important to note that it is wholly possible for structures and lots that don’t meet some of the local dimensional minimums to still be completely safe or useful. The dimensional requirements are arbitrary to a large degree, and are not accommodative of the greater community’s needs.

Beyond setting a price floor in practice, there are also zoning/ordinance limitations at the other end of the spectrum, preventing us from building larger or more numerous units, and limiting the potential use and value of our property. This is the density problem you will hear people talk about all the time. We have a TON of developable land, and a TON of airspace to build upwards, but we are for arbitrary reasons not allowed to use it as we see fit, or in a way that would be most useful to us. We are not building out to the degree we need to. This is strongly evidenced by US census data which demonstrates we are national losers in new residential development in both absolute and per capita terms.

This is where we get into matters of zoning variances, special use, and the associated political bullshit. If you want to build/develop anything of substance around here, you need the blessing of local town officials/representatives who frequently have NIMBY stances, or are trying to “preserve the character of the community” by shooting down ambitious projects. Homeowners think they are preserving the value of their property by disallowing further development, but they’re actually hamstringing their own property rights and values. Is your property worth more if you’re allowed 3 units on your lot by right, as opposed to one? You bet your ass it is, especially in this market climate.

So the new supply is (or always has been?) throttled, and at the exact same time we see basically unbelievable amounts of money pour into the market because of lax lending standards, historically low rates, etc. Snapping up everything that’s decent. Anyone who owned property before and had any sense whatsoever has also refinanced into those low rates. Now you have a population of property owners who will basically never sell because their financing arrangement is so favorable when you look at macro trends. This exacerbates the supply issue further, and actually excites demand at the same time, because you have a rather numerous class of folks who have sizable discretionary income and favorable debt arrangements making it much easier to clear the bar for another purchase.

I could go on about this forever. It’s a massive problem.

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ProvBroker t1_j5ah3t0 wrote

I think that your contribution was just low quality which is why people downvoted you into oblivion. The post responding to you was perhaps rude at the end, but it was addressing your exact points.

You claimed that people were oversimplifying models, and that “none of these factors are accounted for”. They are actually standard considerations in urban planning and development, and those factors have been examined and debated at length for not only the purposes of this project, but for the community’s intentions w/ development more broadly. If you’re tapped into the scene, these topics are low hanging fruit and generally a waste of time to discuss. This city’s journey forward has been completely mired by people who are brand new to the issues and interject with what they believe are original thoughts in the matter, when they’re hardly the first to consider these things. All it does is force the conversation back to an unproductive point.

It’s frustrating to have to constantly talk about Airbnb activity being a primary economic consideration for any/every development when it actually hardly matters in the context. Or worse, the suggestion that another major factor to consider is whether or not the wealthy are utilizing “vacancy write offs”, which literally do not exist… Where does this idea even come from? It betrays a complete lack of understanding of how any of this works.

The post isn’t divisive in any political or personal sense, it’s divisive in the sense that you can immediately tell who in the thread has no idea what they’re talking about.

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ProvBroker t1_j4xbqgg wrote

Reply to askew by gvturg

I think that you will be plenty comfortable at Askew. I go for live music and some smaller shows/comedy pretty frequently. My sister is 21 and I wouldn’t be concerned if she told me that she was headed there for the first time. If you’ve been out in NOLA or Austin then Askew should be cake.

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ProvBroker t1_j3e0u46 wrote

To be fair I am also personally highly critical of our governments giving these tax breaks and incentives. If I had a line item veto, or personal discretion over the matter, I absolutely wouldn’t tolerate it. I am with you on vehemently opposing these projects that are painted as “public private” partnerships, and the sweetheart developer deals that are regularly cut.

Now that that’s clear, and understanding the gravity of the crisis at hand, I would rather see something actually come out of the government spending and partnerships which will inevitably occur, and I see this as one of the better returns on investment in when forced to reckon with the inevitable.

It is completely possible to have a nuanced view, and to like/dislike some parts of a project more than others. Nothing is perfect. Nobody is doing PR for anyone, this is just how it goes with our particular political reality. Everyone is forced to jockey for flawed outcomes. I’m on your side dude.

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ProvBroker t1_j3dzbk3 wrote

I am deeply engaged with the subject of housing accessibility and have an understanding of how poor our performance is in terms of new construction, our municipalities general zoning tendencies etc. I also manage several units of different types and affordability around town professionally. I am a renter and own no real estate despite being in the business. You’re allowed to have an opinion, and I’m allowed to have mine. I feel particularly entitled to mine because I’m a subject matter expert, but hey, what the hell does that mean anyways?

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ProvBroker t1_j3drqaw wrote

The condos are often bought individually and then rented out just the same. Please cite your source for the “thousands” of luxury units added downtown? Define luxury please? Any supply is good supply. The top end of owners purchases newer/nicer construction and will often circulate their old housing back into the market. Not everyone who owns property is hoarding real estate to the extent of their ability. In fact many people want nothing to do with landlording, it’s a huge pain in the ass.

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ProvBroker t1_j38078u wrote

I know there is subjectivity to the statement, but lateroundpick is correct about the impact of the tower on overall supply… 500 units is sort of a drop in the bucket when you consider the scale of supply shortage.

Jakejanobs is also correct that any increase to supply is a useful contribution towards solving the accessibility crisis.

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ProvBroker t1_j21gnif wrote

Reply to Job offer by monraxx

Which hotel? That’s a great rate for a room, especially if it’s not conventional term!

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