Originally posted by Kidicious
This is acting stupid. You are admitting that the problem is demand for houses. So you know all about scarcity. But you don't want to admit that people buying houses to rent and not to live in contributes to the problem and raises rents. That's acting stupid. And now you are just acting stupid by saying that where Vel live is different, but you know it's not, otherwise Vel wouldn't be buying houses to rent there.
This is acting stupid. You are admitting that the problem is demand for houses. So you know all about scarcity. But you don't want to admit that people buying houses to rent and not to live in contributes to the problem and raises rents. That's acting stupid. And now you are just acting stupid by saying that where Vel live is different, but you know it's not, otherwise Vel wouldn't be buying houses to rent there.
There are some people that contribute to the scarcity problem in California, but you can't contribute to a scarcity problem where one doesn't exist. Which is the case with Vel.
He already told you that buying a house there is cheaper than renting, because there are a lot of houses available.
The only way to look at it is that either:
1) The people renting from Vel don't want to own a home.
or,
2)The people renting the home don't have good enough credit to buy a house on there own. In which case, Vel's renting them a house serves them 2 purposes:
a) It gives them a place to live besides under a bridge or in a car.
b) It allows them to build up a better credit rating so that they can buy a house in the future.
It also gives them someone that may be willing to sell to them when they are ready.

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