TheSpektrModule

TheSpektrModule t1_j9ay5hk wrote

Life is a lot cheaper in Baltimore.

https://en.wikipedia.org/wiki/List_of_cities_by_homicide_rate

Baltimore is one of the most murderous cities in the world, surpassing even such well known crime-ridden shitholes as Kingston, Johannesburg and Port Moresby. Pretending that our violence issues are an overall US issue is dishonest in the extreme.

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TheSpektrModule t1_j6nvpiv wrote

Defending a federal criminal case can be extraordinarily expensive. Many years ago there was an interview with Ed Norris where he explained how much it would have cost to effectively defend his case. If I recall correctly it was over $200k in early 2000s dollars.

I have no interest in defending MM, I despise her. You can be "indigent" in federal court without being poor though.

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TheSpektrModule t1_j4217hc wrote

Re: why it's a bad thing, buying a home in Baltimore is already relatively affordable compared to renting. That suggests that we need more rental homes, not more houses available for sale.

There are many reasons you want a robust rental market. Buying a house is not always better. The general rule of thumb is that you need to live in a house for seven years in order for the transactional costs to be worth it. Lots of people are not staying here for that long. Baltimore has a lot of grad students, medical residents, nurses working at big hospitals for the first few years of their careers and just people who don't want to stay in the city after having kids. People have become more mobile in general. If you want those mobile people to be part of your tax base for at least a few years then they need to have decent rental options.

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TheSpektrModule t1_j41rjmf wrote

> The tax loopholes and long term value of real estate make this game too appealing even with increased risk.

That's definitely not what I found when I looked into landlording. The realistic returns were not that great relative to the risk and hassle. Maybe for big institutional investors it's a different story but being a small time LL was a high-risk nightmare.

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TheSpektrModule t1_j41msi1 wrote

There are still requirements to participate in the Section 8 program though and a landlord could easily make sure they don't pass the government's inspection.

Section 8 is a mixed bag. For "professional" landlords who have a bunch of properties and understand the system well it can actually be great. Guaranteed payment, often highly stable tenants who rarely move, there are pros to it. OTOH for small-time landlord it forces you into a three-way business arrangement with the government and your tenant that can be a huge hassle. When we considered landlording there was no way I would've dealt with Section 8 tenants.

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