Odd Lots The NYC Landlord Who Says the "Golden Age" of Being a Landlord Is Over
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Apr 3, 2023 Ben Carlos Thypin, a savvy real estate investor and broker in NYC, discusses the declining fortunes of landlords. He argues that the golden age of this profession is fading due to rising political and economic pressures. Thypin highlights the shifting dynamics in the rental market, including the impact of institutional investors and legislative changes aimed at tenant protection. He plans to exit residential real estate altogether, emphasizing the challenges landlords now face in a post-pandemic world.
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Golden Age of Landlords
- A golden age for landlords arose from policy changes favoring homeowners and weakening tenant protections.
- This created high demand and low regulation in the rental market.
Housing Ponzi Scheme
- Protecting homeowner investments by limiting housing supply creates a Ponzi scheme.
- One generation benefits, but the next struggles with inflated prices and higher loan-to-value ratios.
Landlord Business Models
- Landlord profits come from rent, property appreciation, and scaling their portfolio.
- New York City's market favors appreciation, while other areas focus on rental yield.