discussion U.S. Median Rent To Reach Record High Of $2,000 By Summer.

[Sesame]

19 minutes ago, Bears01 said:

I think Biden sucks, but the basic knowledge of how our government works continually failing among our public is a serious problem 

The call is coming from inside the house. 

[Kamil24]

so low compared to Toronto

[spree]

Florida used to be cheap, but the pandemic changed all that.  Since we were open the majority of the time while the rest of the country wasn't, we became the #1 destination and fastest growing.  That led to lower supply, so where I live it's basically like San Diego now.  I'm glad Ibought a house when I did.  It's worth over double now.  Every time I check Zillow the value has gone up 2k. 

[Kiel D-01]

American people generally get paid really well anyway. 

[TaggedGalaxy]

On 5/27/2022 at 12:02 AM, Sesame said:

 

Are you kidding me? Do you guys not realize all they’d have to do is pass legislation limiting corporate acquisition of family homes and the INDIVIDUALS on AirBnB with 26 properties in their possession. The reason the housing market is absolute **** right now is because so many LLCs/Corporations are buying up any properties listed for sale with cash, some significantly above market value. That’s why houses keep selling within days of being posted. They know it’s a great investment because they get to rent out the properties while also maintaining the capital value of the home. If it keeps going at this rate, regular people won’t ever be able to own a home and they’ll be subject to renting their entire lives without the opportunity to build capital. 
 

One of my coworkers just got a 30 day eviction notice because they’re updating her apartment and upping the rent 39%. It’s crazy, and the fact that there’s people in this thread condoning it. 

As if the current political climate would ever pass something like this, Republicans hate the working class, and the majority of politicians (Democrats and Republicans) are owned and only beholden to their corporate lobbyists and rich donors. It would take a massive shakeup for anything to be done, as it stands the trajectory we're headed toward isn't sustainable but no one seems to want to do anything about it

[Breathe On Moi]

On 5/29/2022 at 12:55 AM, spree said:

Florida used to be cheap, but the pandemic changed all that.  Since we were open the majority of the time while the rest of the country wasn't, we became the #1 destination and fastest growing.  That led to lower supply, so where I live it's basically like San Diego now.  I'm glad Ibought a house when I did.  It's worth over double now.  Every time I check Zillow the value has gone up 2k. 

Omg you’re so lucky. The way it’s an absolute tragedy right now, like so many ppl that I knew that lived in places for years and YEARS are having to move out. It’s impossible, even myself my lease will be up in two months and I’m already hearing rent will be up by $600

 

for people in here that know more than I do, will rent ever go back down?? Like how does this work? There’s no way in hell people will be able to pay how high it is considering the neighborhoods will be the same and it won’t attract ppl, so what’s the point? 

[spree]

18 hours ago, Breathe On Moi said:

Omg you’re so lucky. The way it’s an absolute tragedy right now, like so many ppl that I knew that lived in places for years and YEARS are having to move out. It’s impossible, even myself my lease will be up in two months and I’m already hearing rent will be up by $600

 

for people in here that know more than I do, will rent ever go back down?? Like how does this work? There’s no way in hell people will be able to pay how high it is considering the neighborhoods will be the same and it won’t attract ppl, so what’s the point? 

I've never seen rent go down in my entire life.  Property values went down in 2008 cuz people were being handed mortgages they couldn't afford with zero down.  That's why there were so many foreclosures.

 

However, this time around that is not the case.  Everyone is waiting for this massive bubble to burst, but when Covid hit and interest rates dropped to record lows, a huge chunk of homeowners, including myself, refinanced their mortgage.  So there's not gonna be a huge number of people who go belly-up, because they are paying way less for their mortgage now than before Covid.  I'm saving 400 a month by refinancing.  My WHOLE HOUSE is only 1037 a month.

 

And a lot of people from up north are buying houses down here with cash, so they have no mortgage to worry about anyways.

[Beyonnaise]

It’s annoying how I’m finally making more than I used to but rent has gone up so much that it barely feels like anything has changed  

[Devin]

What’s wild is they raise the rent but don’t fix sh**

[lovecatt]

Rent in California rn is just ridiculous 

[byzantium]

On 5/26/2022 at 4:43 PM, hardbrit said:

Why is it so expensive? It makes no sense at ALL

It is because cities and towns in the US are zoned to not allow more housing.  So as a city’s economy is successful and creates new jobs, more people need to compete for the increasingly scarce resource of housing.  This is what happens in Boston, LA, and San Francisco especially.  

[byzantium]

On 5/27/2022 at 3:44 PM, Kamil24 said:

so low compared to Toronto

Toronto is less expensive than comparable US cities.  I would be considering moving there now that work from home is normalized, but my employer is not allowing international work from home arrangements.  

[Smarticle]

damn, sometimes life feels like you're just working your life away just to pay for a roof over your head and not much more