this post was submitted on 02 Jul 2024
16 points (100.0% liked)

City Life

2113 readers
2 users here now

All topics urbanism and city related, from urban planning to public transit to municipal interest stuff. Both automobile and FuckCars inclusive.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 1 year ago
MODERATORS
alyaza@beehaw.org
Butterbee@beehaw.org
aponigricon@beehaw.org
remington@beehaw.org
16
Costco's bold new plan for the California housing crisis (archive.ph)
submitted 4 months ago by pbjamm@beehaw.org to c/citylife@beehaw.org
9 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] averyminya@beehaw.org 1 points 4 months ago (2 children)

Haven't done any research and I'm mostly just curious about your thoughts -- would the situation be different the implementation of these were rent to own?

[–] t3rmit3@beehaw.org 2 points 4 months ago

I think that as long as there is a Lease Option written into the contract that legally forces the owner to sell (or if it's a lease-purchase), and as long as there is some guarantee on the down payment amount if the seller breaks the contract, I'm mostly fine with Rent-to-Own. But R2O contracts are something you probably want a lawyer to double-check, because there are ways you can get screwed as the buyer (like if you lose your job prior to sale, and it's a Lease Purchase, they might charge you a LOT of money to break the contract).

[–] towerful@programming.dev 1 points 4 months ago (1 children)

You mean like a mortgage?

[–] averyminya@beehaw.org 1 points 4 months ago

R20 is technically different from a mortgage but I get what you mean