Rent control?
What does anyone think going on for rent control in big cities? Why do you presume its a good or doomed to failure idea?Answers: I ponder it screws up the free open market so that a shortage of rental property occurs. If you don't hold rent control then every time rents find high some investor will convert a building or build up to date so that more inventory comes on stream. If you hold the rent down very low, no investor will convert or build any untried rental units.
If your a renter, it's a great hypothesis so that someone can't come in out of nowhere and competely screw you beside a massive rent increase. I lived in an apartment going on for 5 years ago, and two very elderly women lived below me (in Chicago). It's a nice neighborhood, almost a mile west of Wrigley Field. They've been near a loooooong time and were living rotten social security. If the ethnic group who owned the building had the expertise to raise the rent to anything they wanted, these two could've be on the street.
Building owners probably wish what they charge to renters wasn't controlled.
I believe within the Free Market system and think that the rule needs to stay OUT of business. Rent level control themselves and should be subject to the same factor as any other business.
99% of cities have no rent control and things unmistakably work very okay.
Why are mortgage rates going back up??
Answers: Mortgage money comes from people willing to commit their money over a very long period of time. Those people's biggest fear is that inflation will rob them of value, so the more they fear inflation is about to return, the more reluctant they are to invest their money in mortgages. The more reluctant they are, the higher the interest rates have to be set to offset that fear.
People are afraid that inflation will return very soon. That means that long term mortgage interest rates go up. Buying a house is normally a common shelter against inflation also.
Long term mortgages are tied to the 10 and 30 year Treasury Bond yields. The yields of these bonds rise when there are higher inflation fears, causing the long term mortgage rates tied to these T-Bonds to rise as well.
Mortgage rates are NOT tied to the Fed Prime Rate, although changes to the fed rates ultimately move the markets for the bonds mortgage rates are tied to up or down.
First time homebuyers surrounded by MD?
Are there any type of programs for First time homebuyers within MD? Does anyone know of any grants to aid first time homebuyers buy a home?Answers: Any good realtor or Broker / lender surrounded by your area should know how to answer that question.
Good Luck