SMH.... America’s Rent Is Going Up

Young_ChitlinYoung_Chitlin YCN Chief, FCC Member, IC Task Force GeneralASUville, PhoenixPosts: 13,103 ✭✭✭✭✭
By: Hamilton Nolan

If you're living somewhere nice right now, chances are that you're paying more than the quadruple-digit average national rent, and that your rent is going up, fast. If you have a reasonable, three-digit rent and a landlord who doesn't try to squeeze you dry with every lease renewal, chances are you live in a shithole. You just can't win in today's America.

From the WSJ:
The average nationwide monthly apartment rent was $1,048 in the fourth quarter, up 0.6% from the third quarter and up 3.8% from a year earlier, according to a report set to be released Tuesday by real-estate research firm Reis Inc... The nation's apartment vacancy rate, which has declined since hitting 8%in the aftermath of the financial crisis, fell to 4.5% from 4.7% in the third quarter.

All those people who were evicted and had to move into their grandma's basement, or just be homeless, have now scraped together enough panhandling change to move back into an apartment—and they're driving up rents for the rest of us.

This is the type of greed America cannot tolerate.
Wild Selfunspoken_respectskpjr78
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Replies

  • NoirNoir ♡♡♡♡♡♡♡♡♡♡♡♡♡♡♡ love & peace ♡Posts: 27,382 ✭✭✭✭✭
    Where I live a 450-500sq ft studio is starting off at 1300.

    These white people are living lavishly on rent control (the white people version of section 8).
    Ajackson17
  • Ajackson17Ajackson17 God King Posts: 16,306 ✭✭✭✭✭
    I have an house and I'm about to go ahead and buy it and I get a nice raise and I'm working on a secondary source of income and reading up on trading binary options.
  • A.J. TrillzynskiA.J. Trillzynski the IC's Patrick BatemanPosts: 2,080 ✭✭✭✭✭
    people are coming around to the fact that renting >>> buying. it's that simple. why you think stocks keep going up? it's been a bull market 5 years now because people realizing that investing in equity is a lot better value - lower fees, taxes, property management is a hassle, liquidity ect.. people are turning to equity for their investment, this is killing real estate right now which is driving up rentals.
    BarryHalls
  • powerman 5000powerman 5000 Posts: 2,680 ✭✭✭✭✭
    lechic wrote: »
    Where I live a 450-500sq ft studio is starting off at 1300.

    Fuck! People actually pay that?? That's almost 3 times my mortgage. That's got to include utilities and renters insurance. My mortgage, property tax, home owners insurance and HOA dues for 2k sq ft aren't that much and I live in a great school district not far from things; I can see Cowboy stadium from around the corner. Plus it's completely mine in 7 more years. SMH, that would make me sick to have to pay that every month. Rates is at 2.5%. If you even close to a position to buy right now, you should try, even if it's a $50k shack, when them people come to gentrify the area, as for $65.
  • The Lonious MonkThe Lonious Monk Man with No Fucks Given Posts: 16,707 ✭✭✭✭✭
    people are coming around to the fact that renting >>> buying. it's that simple. why you think stocks keep going up? it's been a bull market 5 years now because people realizing that investing in equity is a lot better value - lower fees, taxes, property management is a hassle, liquidity ect.. people are turning to equity for their investment, this is killing real estate right now which is driving up rentals.

    People aren't coming around to that. People just aren't able to buy anymore. You're crazy if you think renting an apartment is better than buying a brand new home while the interest rates are still relatively low. Getting a home isn't all about making an investment. That's probably the last thing people think about when they buy a house. Getting a home about having something that is your own and knowing your money is being paid to something that benefits you. Not to mention you don't have to worry about the bullshit that rental companies tried to pull. I remember when we first started to come out of the recession, there were properties jacking their rent up $200 off the idea that people could now pay more so they should pay more. Who wants to deal with that all their lives?
  • DWODWO †‡§☻☺♥♦♣♠♂♀☼✔♋✎✄☯ツ ♛♛♛♛♛KING SHIT ♛♛♛♛♛Posts: 50,779 Regulator
    the rents too damn high
  • StewStew Im In My Permanent PRhyme We run this spot like a Chinese sweatshopPosts: 34,993 Regulator
    Perfect wrote: »
    lol at payin $1300 for RENT


    much less a fuckin studio. GTFOH

    Word, u could get a damn near 5 bdrm 2 story house with LAND in the south for that much.
    texas409
  • GettinLoGettinLo Posts: 8,013 ✭✭✭✭✭
    Du_Du wrote: »
    o yall thoguht a nigga was lying.....

    jimmy-mcmillan-8488e95902b97ea8.jpg
    Beat me to it LOL

    the-rent-is-too-damn-high-o.gif
    tha bauses_a_m_r_i_ounspoken_respectPico
  • NoirNoir ♡♡♡♡♡♡♡♡♡♡♡♡♡♡♡ love & peace ♡Posts: 27,382 ✭✭✭✭✭
    lechic wrote: »
    Where I live a 450-500sq ft studio is starting off at 1300.

    Fuck! People actually pay that?? That's almost 3 times my mortgage. That's got to include utilities and renters insurance. My mortgage, property tax, home owners insurance and HOA dues for 2k sq ft aren't that much and I live in a great school district not far from things; I can see Cowboy stadium from around the corner. Plus it's completely mine in 7 more years. SMH, that would make me sick to have to pay that every month. Rates is at 2.5%. If you even close to a position to buy right now, you should try, even if it's a $50k shack, when them people come to gentrify the area, as for $65.

    It's called living in a fancy area in Santa Monica. Plus, white people are trying to gentrify the hood, so the rent is going up down there too. SMH shits crazy.
    GettinLo
  • GettinLoGettinLo Posts: 8,013 ✭✭✭✭✭
    lechic wrote: »
    lechic wrote: »
    Where I live a 450-500sq ft studio is starting off at 1300.

    Fuck! People actually pay that?? That's almost 3 times my mortgage. That's got to include utilities and renters insurance. My mortgage, property tax, home owners insurance and HOA dues for 2k sq ft aren't that much and I live in a great school district not far from things; I can see Cowboy stadium from around the corner. Plus it's completely mine in 7 more years. SMH, that would make me sick to have to pay that every month. Rates is at 2.5%. If you even close to a position to buy right now, you should try, even if it's a $50k shack, when them people come to gentrify the area, as for $65.

    It's called living in a fancy area in Santa Monica. Plus, white people are trying to gentrify the hood, so the rent is going up down there too. SMH shits crazy.

    Hipsters fucked Brooklyn up like that...
    Noir[Deleted User]miamivice305
  • StewStew Im In My Permanent PRhyme We run this spot like a Chinese sweatshopPosts: 34,993 Regulator
    I was thinking about movin back up to the DMV area but probably wont for this reason unless I can catch a break some how.
  • Lou_CypherLou_Cypher One Cold Ass Honkey It's Cold, AlaskaPosts: 28,224 ✭✭✭✭✭
    My rent only 975.00 Not a shit hole but its in a bad neighborhood, and its not the nicest place. Landlords are hella chill tho and no one cares if i smoke weed all day.
  • Lou_CypherLou_Cypher One Cold Ass Honkey It's Cold, AlaskaPosts: 28,224 ✭✭✭✭✭
    but if it goes up i will move to a shittier part of town for cheaper rent.
    Stewunspoken_respectAlready Home_17
  • deadeyedeadeye Old Nigga Extraordinaire In my basement fapping to chunky fat Kat pics.Posts: 11,977 ✭✭✭✭✭
    edited January 2013
    lechic wrote: »
    lechic wrote: »
    Where I live a 450-500sq ft studio is starting off at 1300.

    It's called living in a fancy area in Santa Monica. Plus, white people are trying to gentrify the hood, so the rent is going up down there too. SMH shits crazy.

    Anyone who can only afford 500 sq ft shouldn't be living in that fancy area.

    Like you said....white people.

    smh.

    Wild Self
  • fuc_i_look_likefuc_i_look_like Posts: 7,716 ✭✭✭✭✭
    rent's cheaper in the south.

    Average rent out here in NC for a one bedroom is 500~600. They're not all ratchet either.
  • DWODWO †‡§☻☺♥♦♣♠♂♀☼✔♋✎✄☯ツ ♛♛♛♛♛KING SHIT ♛♛♛♛♛Posts: 50,779 Regulator
    rent's cheaper in the south.

    Average rent out here in NC for a one bedroom is 500~600. They're not all ratchet either.

    $600 in baltimore you liable to have someone cooking crack in the laundry room....cuz none of the washers are operational...
    unspoken_respect
  • God_YunnGod_Yunn You paid for that The 40-9Posts: 8,169 ✭✭✭✭✭
    Texas cost of living>>>>>>>
    BOSSExcellencetexas409Playa Playa
  • Wild SelfWild Self Posts: 4,226 ✭✭✭✭✭
    Get yourself a condo. Best of both worlds.
  • The Lonious MonkThe Lonious Monk Man with No Fucks Given Posts: 16,707 ✭✭✭✭✭
    Man, I remember grad school in NC I was paying 479 for a huge one BR apt, then moved to the DMV area and had to get a 2 BR apt just to have a similar amount of space and the rent for that was 1300. The cost of living changes between areas in this country is such bullshit. Sure there are more high level jobs in the DMV than a lot of places down south, but it's not like the average person is making that much more. If you working at Walmart in Northern VA you aren't making that much more than someone working at Walmart in ATL, but your cost of living will be damn near double. That's just crazy.
    deadeyeunspoken_respectAlready Home_17
  • CP203CP203 Posts: 8,046 ✭✭✭✭✭
    i will never understand why people rent, smh my boy got an apartment by central park LOL at $5200 a month for rent, i know people with lower mortgage payments
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