Comment by torgoguys | Hacker News Reader

Comment by torgoguys | Hacker News Reader

I suspect I have the unpopular opinion, but I don't see this as an especially big deal. Yes, I understand this is an especially sensitive issue for SFers. And yes, it sucks for the guy. Renting has its perks, but this is part of the risk of renting; you're living on someone else's property. Repeating that--it's THEIRS, not yours. If you have no current contract (lease), why should they be required to rent something to you under terms you like? Where else does this occur? When some business raises rates, it is the exception, not the rule, that you're "grandfathered" in to a previous rate.

I get that having to move and find a new place to live is a bigger deal than if McDonald's raises the price of a cheeseburger by a dime, and that's why there are some protections in place (requirements of notice, an eviction process, etc.), but there is no indications that those aren't in play here.

"I don't see this as an especially big deal"

Then you are clearly underestimating the effects of housing on the rest of society. Where you live (and how much you pay) is one of the biggest factors that determine how you live your life. So whatever your opinion on the topic, it is a "big deal".

"Renting has its perks, but this is part of the risk of renting"

No, having your rent quadrupled over night shouldn't be part of the risk profile. Again, whatever your opinion it is a shitty situation. It's not like you aren't taking a risk by buying.

"Where else does this occur?"

What you can put in an agreement is determined by contract law. It's not obscure at all. https://en.wikipedia.org/wiki/Category:Contract_law

"Renting has its perks"

Do you mean renting or rent-seeking? I fail to see how renting has perks.

Well one big one is that you don't have to risk several orders of magnitude more money every time you move by buying property..?

There are lots of them. The biggies:

Mobility (i.e., not being tied down to the property).

Either a) not tying up a lot of money on housing (assuming outright purchase or large down payment) or b) cheaper monthly payment than a mortgage (small down payment).

Outsourced maintenance (although there are good and bad landlords in this regard).

If there weren't advantages, renting wouldn't be as common as it is.

I agree it has some advantages, but citing commonality seems weird when it's increasingly unlikely for new to be homeowners to afford a home in cities like London, SF, etc. I doubt most people waste thousands of dollars each month for the ability to relocate quickly?

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