High rents leave many financially stretched
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- Опубликовано: 30 янв 2024
- While rents have been easing for the past few months nationwide, prices are still up significantly compared to before the pandemic, largely due to inflation. Providence, Rhode Island, saw one of the highest rent increases in the U.S. last year, and according to researchers, you need a salary of close to $83,000 to afford a two-bedroom apartment there. Nancy Chen reports.
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Can we stop blaming every single thing on inflation and "supply shortage" these commercial landlords have monopolized the real estate market and just keep jacking up rent costs every chance they get 🤬
Speaking as a landlord, I would like to insert the fact that property taxes are utterly insane - especially out here on the Left Coast where governors and legislatures in all 3 states believe taxation is the way to prosperity.
@@TVHouseHistorianwhile you sit on your yacht
@@BlakeHenson-zx8ce No yacht, but I do go on cruises every year. Does that count? 😁
@@TVHouseHistorian To the serfs yes.
@@TVHouseHistorianit’s gone hurt when it gone hurt when u get some bad tenants that dnt make wnough
Our rent was $1,100 and was raised to $1,400 a month........greed is a powerful drug. $300 a month more is absolutely insane.
80k-90k is an accurate salary requirements to afford a 1-2 bedroom apartment today. Since the pandemic, I have seen rents go up 45%. I don't see a lot of businesses offering 80-90k for even professional jobs. There has to be a breaking point here.
People in China make more money than I do in America!
I make more than this and I’ve been able to manage but I have no idea how cops, teachers and most other people make it work with prices how they are currently
@@NoNameToYoumany cops and teachers make more than 90k. Please don’t be so ignorant. Otherwise, I think it’s best to not post 😊.
Professional jobs typically require advanced degrees and/or specialized skills. If you aren't bringing either to the table, why would you be offered one of these positions? There are two generations of people (Millennial/Zoomer) expecting salaries their meager education/skills don't justify. Also, even if you did earn an undergrad, don't expect that alone to guarantee a job. It doesn't.
@@daniloandrade8119I don't think regular beat cops. Which is the majority of officers, make $90,000
The rent is too damn high, and rising!
Right 🤨
Bidenomics
Its barely started and its going to be a hard lesson.
Move to Ohio 😊
Shanty towns galore all across the us of a.
Greed destroys Nation...
It's called capitalist....move to China why don't you
especially when you're giving away $ to migrants for votes.
Yep smh
You live in a capitalist country what do you expect? That's why migrants work and send money back home to buy land and build homes. America is over
you misspelled inflation
The apartment I occupied back in 2016 cost me $805 per month. The price for that same unit is currently set at $1,440 per month.
Not if they kick us out right?! We get NO break.
Yeah, I'm right there now I made an additional 20k this past year and it still wasn't enough with everything inflated in prices. Lol We are all going to need an average of 100k or more just live with basic needs.
High rent and high mortgage cause homelessness. Wake up people.
No people that make excuses instead of planning & learning causes high rent and mortgage you will be surprised at what me and my wife pay for a 5 bedroom house two car garage upstairs downstairs three full bathrooms sitting on a acre & a quarter 1,200 😮
Nah...not paying your rent or mortgage causes homelessness.
@@kingphilwill exactly 💯
This is definitely happening in urban areas around the country.
@@kingsOnSetKOS Do tell. Your statement says nothing
Rents need to go down or else landlords won’t be able to get or find tenants
I was just talking with my old neighbor back in Ft.Lauderdale today. He told me the rent for the tiny studio apt across the street from my old place is now $1,750. That studio is just one room with a shower stall a 10 inch wide sink, it's a dorm size fridge a two burner hot plate and a toaster oven. If you put a queen size bed in there you wouldn't have any room, that's how small it is. Landlords are getting more and more greedy, I found out in order to get that place you need a credit score of 775 and higher and have a yearly income of $80k.
Free-Market Capitalism...
And when universal rent control happens the greedy landlords will have only themselves to blame.
I'm a landlord I'm charging more to make up for the lost that I'm going through after not getting any money for a year and President Biden okayed that
@@GG-tb4ru
But does the house include the land..?
The land that the house sits upon is a Major reason why houses go up in value... ie there’s more people but less (desired) land...
That is why in USA; one should NOT buy Condo or Trailer-home... because you don’t own the land...!
@@keithsnider1958
Rent control should only apply to corporate rentals...
Mom and Pop People who only own only 1-2 rental units are doing to supplement their income.... especially for senior citizens....
We should Not punish those people who save money all their lives...
Put the blame on the property management companies and investment groups!
and government for allowing classist and racist neighbors to zone most of the cities to single family zoning -NIMBY
Plenty of blame to go around. Im an economist. Greedy investment groups aside, all landlords are a plague on a free market economic system and have zero benefit other than enriching themselves at the cost of the population. No functioning country can exist with cost of living this high for very long. The federal government will have to step in at some point to prevent complete collapse.
@@MarkWongMDan economist you say…..mustn’t been a very good one I reckon.
They said inflation was a direct result of Supply chain issues and Gas prices. Gas is cheaper than ever and we have many new supply chains. Ceo bonuses and unlimited stock buy backs seem to be the only thing holding us back from just paying people like GM instead of Tesla.
@@chiehlilee9224 I get paid a lot so I'd say I am pretty good. Love how you couldn't actually bring up any legit point to disagree with me so you just attack me instead.
And people wonder why there are so many homeless out there.
Because the immigrants get the housing, and Americans get the tents. That is why there are no available apartments.
It's growing like crazy. I read yesterday that those 50 and up are the fastest growing homeless population. That's terrible.
@@TruthBeTold87 Homelessness is only caused by drugs and alcohol addiction. That's it.
@@bettycline8117not true. Many seniors on fixed income are sleeping in cars. They cant work and have health issues.
@@bettycline8117stop building beer factories
I’ve lived in the same one bedroom (726 sq ft) apartment for 10 years. In 2014, it was $595. Now, with literally no changes to the actual apartment, I pay $1125.
Why are you surprised? The home prices have doubled during the last decade, so the rent is gonna go up proportionally 😂
@@tiffanyhwang1738 I’d feel better about the changes if it actually reflected the quality of the home. For one, I’ve had countless water problems. The biggest one being when a pipe broke and water was coming out of my light fixtures and whatnot. My bed was ruined. The next biggest thing being my AC continuously failing. I’m not sure how old the complex is, but I do know the quality doesn’t reflect the current rent.
Price gouging criminal.
You don’t have a right to housing. You have a right to earn your housing. Which no one owes you. You have ZERO right to live in someone else’s property, which btw, they had to EARN. FOH
@@dcg590You know what happened to landlords during the cultural revolution in China, right? You know that’s what this leads to without regulation, right?
@@dcg590 They didn’t EARN those properties, the banks own them as far as I’m concerned… these landlords are jacking up prices to be greedy. $1800 for a 1 br is unnecessary. And yes we as AMERICANS do have a RIGHT for housing. We are carrying this country on our fragile backs while the people at the top sip margaritas on the beach.
It’s not just rent!
Property taxes if you do have a house AND insurance. Car and home insurance have sky rocketed as well! Greedy government and greedy corporations!!
Sucks for you
I live in Central Illinois my real estate taxes went down a few dollars this year and my car and house insurance when up 56 cents a month in January
Just get a 2nd, 3rd, or 4th job. Easy. Who needs sleep?
In retrospect, Jimmy Carter should have been reelected.
With three or four jobs, you won't even need a house. You'll just be going from job to job all day.
In some countries employers provide subsidized housing for their employees.
Wall Street should NOT own residential...this is what happens when they need ROI as soon as possible. Why are not the politicians blocking this? Where are the journalists keeping watchdog over these politicians not asking questions?
This right here. This practice should be banned but it won’t be because the same parasitic companies doing this, the politicians they bribe and the useful idiots who think they are actually a part of their club will never let it happen.
Who do you think is getting the kickbacks ? That’s why they’re not blocking this
They're not blocking this because wall street and real estate firms are bribing them not to. Journalists and the media don't care about money in politics because it benefits them, think about all the tv ads you see during an election year, those are created using bribes aka donations. Furthermore, journalists like the one in this story probably makes 6 or 7 figures, so high rent doesn't affect them.
Wall Street own the media. They own everything.
That's not much of a thing here in New England. Typically the landlords are small scale LLCs with one or a few wealthy professionals buying a couple buildings. And that's the environment because of chronic under building, primarily due to existing homeowners shooting down new construction. It would be a different story if we were talking about the South and West
The rent is too dammed high!
There are several reasons why this is happening all over the country . Most Financial experts agree that a single person working one full time non-college degree job (such as assembly plant ) should be paying no more than 30% of his/her take home pay for rent and bills . Because of large companies and big box stores , wages have not kept up with cost of living . In the late 50s and early 60s a family with 2 children could afford a home , a car and 1-2 weeks vacation each year with 1 full time income . Today it takes 2+ incomes for a family just to barely get by . In the past if you worked for lets say a department store full time it was most likely locally owned but over time larger companies started selling stock to make the company larger and expand , then they would appoint A Board of Directors , it was there job to keep the stock holders happy and make more profit year over year , soon to make profit , they would cut Benefits like Pensions , soon came part time laws so the companies didn't have to pay for Medical . The larger companies would buy out the smaller ones or force them out of business . Today there aren't many places that have benefits and so the way they keep profit margins high is to keep wages low .
Underrated comment right here
Rent is so high here in Kissimmee Florida where I live! My husband and I live in a studio long-term extended stay hotel and we have been here for a year because we cannot afford prices around here with two incomes. Not to mention the fact that you have to make three times the amount of rent to even rent somewhere😮
Yeah I saw some 2 br apartments for $2k
You need an income of 160k for a 2 bedroom here in LA
There are plenty of well paying jobs available. Granted, you need job skills.
@@thejuicerr lol right, what is it you do? You didn’t watch the video did you?
@@brianholloway6205 JFK said it best, ask not what your country can do for you. Ask what you can do for your country. People have become way too entitled.
@@thejuicerr so tell the class what it is you do. Please don’t quote ex president speeches you’ve never read or listened to. Unless you intentionally meant for it to be funny
@brianholloway6205 I work hard and solve my own problems. I don't blame society or the gov for my shortcomings.
I consider myself upper middle class and feel like I’m living paycheck to paycheck.
My wife and I both work at a factory making $21 an hour and we're able to save $1500 a month. But all we spend money on is our bills and groceries.
@@obi-wantpastrami8745 I'm at 38 an hour single and save 3k a month.getting harder to save for a house wished I had bought before the pandemic.these prices are ridiculous now.
Idk how you consider yourself upper middle class then
Then you are living beyond your means bruh, you don’t need no Mercedes or louie Vuitton or Netflix when you already have Hulu,prime,and vudu.
@@obi-wantpastrami8745 So you're literally living to work, oof
Just had a baby and we moved in with my In-Laws before Dental School starts in August. It’s been nice but also, it’s horrible that the American Dream is dying for my generation.
It's not dying its been dead 😅😅
It was always a temporary dream, none of that is sustainable but they made it appear that one could live like that for eternity. Not possible, Americans thought they could spend trillions in Iraq, Afghanistan and other wars / proxy wars without consequences. Maintaining 800+ military bases in over 80 countries is costly. Now if we had invested the trillions allocated to the 'War on Terror" into education, healthcare, and infrastructure for the country we'd have something to show for it today. Instead we have skid row and 70% of Americans who can't find $1k for an emergency.
Literally same here. Thankfully the in-laws gave us the master bedroom, but man I fear for the little one on the way
You have to build wealth and assets as soon as possible in life. The big problem is that people are only taught that money has purchasing power. While that's true, its more important to realize that money has another power - the ability to generate exponentially more money over time. If you can invest as much as possible by your 30s, you can create a compounding investment machine that generates money for the rest of your life. If you don't build this wealth very early on, you'll be stuck in the middle class forever posting comments on youtube about how the american dream is dead...
The American dream is to move to a cheaper country
It's out of control....I just took a 3rd job....I have always been responsible (no debt/12 yr old vehicle) and currently saving for a house , its going to take me twice as long with this inflation ....
No wonder homelessness increases by the day.
Here's a thought. Try passing a nationwide 'Use it~or~Lose it' bill prohibiting corporations from parking their assets in public rental properties where they set above market rates, then write them off on their taxes at the end of every year as a loss when nobody rents it. The 1st year it goes unleased after claiming a tax deduction on it, force a reappraisal. After 2 consecutive years force the sale of the property to someone else who will get it taken care of & rented out.
To each his/her own, but I relinquished those types of life goals of having this and that years ago. Among other things, it creates too much stress. For me, as long as I can save regularly, take care of emergencies, and can maintain my life, I'm good. Everything that I have can fit into my little Nissan Versa ✌️
There's also a problem in some communities where house after house is now an AirBnB. This creates an artificial shortage. Instead of these places for people in the community to live in, they're occupied by out-of-towners partying for a few days.
There is no such thing as the American Dream.
FREEZE RENTS NOT PEOPLE!!!!! Providence / RI needs an immediate rent freeze then rent controls that lower rents below rent burdens!!
I’m in LA and it’s bad.
Now, you are imposing restrictions on what private citizens can and can't do with their private property.
@@thejuicerr which is 100% constitutional.
@brianholloway6205 No, it's not. The government has no constitutional right to force law-abiding citizens to rent or sell their houses or any private property (vehicles, businesses, etc).
@@thejuicerr it’s literally clear as day in the constitution. You made up a lie. We literally see it every day. Hell some states like Texas have an expedited process for it. Logoff and go read
That is why there are so many more people living in their cars & streets, suicides, shoplifting, drug & also alcohol abuse , angry people, violence, hungry people, murders etc…… it’s getting worst daily. People cannot afford housing many that are working, seniors are becoming homeless daily.
Seems his cat is winning in life lol
Lol, thought the same. Sad that's all he has to come back to at his age. Kitty is living rent free
Simply Amazing ! I bought my home 30 yrs. ago and its paid off, I could not imagine starting over nowadays. Very Sad 😪
Someone please tell me i didn't come from another planet cause when i was growing up my father was a mere factory worker yet we lived in a nice apt, always clean and well groomed, good food to eat, and bills always paid. Mom was a housewife and took care of the children and household duties. Dad would always treat us to a movie each month or some Chinese food (a real treat back then) and even put money in the bank. I don't even remember seeing much homeless except for runaways every once in a while and occasional hobos in search of a drink. What is even more bizarre is that we were actually considered to be poor but i would've never known as all our peers and relatives basically lived similarly. Only thing was we didn't own cars or any fancy items yet when i look at today's struggling poor compared to us, we must've been middle class! I've noticed a large number of these self-proclaimed so-called "economists" on this post would have me believe that my life never happened. It also seems strange that while the poor have gotten poorer, the wealthy have accumulated more riches than they could've even remotely imagined back then. What the hell happened?
Late Stage Capitalism
Yes trickle down economics at its finest. And the wealth gap gets larger. We are going to be a country full of homeless taxpayers in the next few years.
Same thing happened in France. And then French Revolution happened. King was beheaded. Maybe US politicians want the same 😅
Our country has 33 trillion dollars in debt and continues to grow . The sad news is it won’t stop. Our country is headed to bankruptcy.
Not even close to bankruptcy.
The United States of America is far from going bankrupt. Our debt is only 16% of all assets. This country is doing really well! It's us, the citizens that are suffering.
The people are the ones going bankrupt. Society is set up to be predatory and rip off low income Americans. The rich have never been richer. The poor continue to struggle. Greed has been the way of the world for a long time and we have institutions set up in our country to teach people this like its a gospel or something.
Agreed. Others believe the lie. But better times and a better world are coming. Trust the process. Answers found where people may not think.
Jeremiah 29: 11. 😊
@@johnd.5601True. We did just pawn off a strategic helium reserve apparently. 😂
My rent been same it only goes up cause people are greedy....They want to line their pockets.
What part of owning a business don’t you get?
@dcg590 my mother rents her house for below market value. She already makes good profit, why price gouge? She also believes in God and doesn't lust for money. I guess that's why He's blessed her with so much of it 😊
Gave up my apartment to live out of my van. No stress about paying overpriced rent and utilities. I’m saving about $400 a month after all expenses.
I love how landlords are just adding to the issues instead of working to help things
Why aren't the presidential candidates talking about this?
Because the widespread mentality in the US is that if you end up homeless, it's partly your fault. People love to say things "well just move somewhere cheap" when it reality that's where everyone is going, and due to that, it causes prices to go up there as well.
Because it's an actual problem and the root cause are the entities keeping their campaigns a float.
Government cannot be both the problem and the answer.
Because the United States government doesn't care about the middle and lower class. They only care about people like them. The rich line the pockets of the politicians.
Having more than 1 rental property should be illegal
How can this be sustained, and why are people continuing to spend, concerts, sport games, cruises are sold out!
why is a rich university paying its employees so poorly?
I'm glad that I own a 4 bedroom, 2 bathroom house. I'm on my early 30s, single and with no kids. I live alone at the house and it feels peace of mind no worrying about paying rent, and monthly mortgage.
Sounds miserable
But the water bill must be expensive with all those long showers.
@@jimmyjay689 why miserable. I'm stable by having a roof over my head, and well financially.
Your house could get burned down tomorrow by faulty electrical wiring, or struck by lighting by God for throwing it in our faces that you are comfortable, while many people are not!😮
Congratulations dont listen to hate
My family and i are leaving at $2000 dollars a month rent for a 3BD and 2 full bathrooms, 4 months ago, a new construction started across the street, the new houses being build are starting at $2 million dollars, now the owner the house want to increase the rent to $2800 for the next year contract, and probably more in the upcoming years. It's out of control. Nobody's is doing anything and the term of controlling how much they can increase the rent. So sad. Good luck to all.
We need rent control
No, you need to buy your own house. Renting is money down the toilet on a monthly basis.
Rent control will backfire. We need to put a stop to the NIMBIES and "trickle down" mafia rigging the "housing market" top to bottom. We need to eliminate draconian "single family zoning" across the board and build the proper reality based density for our people.
@@tw8464 LA county is at capacity
@@thejuicerr🫤🫤🫤
@@thejuicerr How do you suppose one might buy a house when houses are 5x the yearly salary of some of the highest earners in the country?
this was completely expected after people decided they didn't have to pay rent for 2 years. what did you expect.
Nope. Rents were skyrocketing before then. I moved out of my apartment in 2019 and the units in my building were going for several hundred more than what I paid. Ironically, real estate was increasing fast to. This was pre planned.
Pressure from Wall Street, Foreigners, illegal immigration, and unchecked capitalism (pure greed) 😢
Meanwhile people are worried about stupid issues politicians feed them 🤦🏻♂️
THE RENT ARE TOO DAMN HIGH!
100 years ago a tombstone only cost $39.00 , thats only $300 in todays money
Not just some small flat plaque either , you had a monument
whats your point jack?
Some of us never get a place of our own even when we earn 71,000.
I really understand now why some People will be living in Cars. What about People working minimum wage and those surviving on Social Security, Pensions and other fixed income? Where are they supposed to live?.
They are supposed to just go away as AI takes over.
The streets or end up 6 feet under.
It's insane that he can't afford more than a studio there. How is the same thing happening even in small towns? My pets and I are losing our place because my greedy landlord doesn't care that I'm a good, paying renter for 4 yrs. 2 mo's and have no back balance. He is being vindictive and intentionally being malicious making me move out, knowing I'm the only one here without a car and without any family here (I can't prove discrimination but it totally is). Once I'm gone he's going to slap a coat of paint on and not fix much if anything, and rent it out for even more money ($200 to $400 more for the same problem place. Before I finish an application anywhere (at new also unaffordable places), all the units at that place are grabbed up due to out-of-control demand, dwindling what little money is left to move. People over profits! The rent is too high! Destination: nowhere.
The wars are too costly.
The problem is that in many markets buying a house or condo is tough because of high prices couples with high interest rates. That creates more upward pressure on rents. Why, because more people have to rent because they have no choice.
We aren't building enough housing to keep prices down
Who’s we?
Nah, Homes and apartments are sitting right now vacant due to greed.
*sigh*....then there's this guy...
I mean.. at one point do we hold property management companies accountable?
Providence is still a whole lot cheaper than the rest of the country
yeah YIMBY policies aren't fixing this. all new construction ends up being expensive housing. imagine thinking developers care about urbanism and affordability.
average rent even in smaller cities like cincinnati is insane. the baseline is 1500k. if you want a 2-3 bedroom....youre talking 2500-3000. jobs just aren't paying enough, unless youre a 1%'er.
That Guy will be living alone in that Studio apartment with his Cat well into his 60s.
And loving life!
@@prettygirlus9008 That Cat will escape at the first opportunity because a One-Bedroom beats a Studio.
even if he hit the lottery lol
WHY •••••••••••• pay RENT that takes a large chunk of your hard earned income ?
Go purchase an RV and live in it ••••••• YOU own it •••••••••
YOU live in it ••••••
YOU can travel in it •
Don't let someone dictate to you where you can & can not
LIVE 🎉
Gas prices go back down , Rent never does
Everyone Is FED UP with the FED.
S2 capital purchased are apt units i lived in my complex for 16 yrs first year $700 a month 12th year it started going up I'm living in the same unit 2022 2023 now paying $1600 plus $150 cam fee every month all units used to be full now half the units at the complex are empty people just can't afford it i blame corporate greed dallas tx
why do we accept this
This is ridiculous
You know its bad when a 1 bedroom is expensive in Rhode Island
It depends on which part of RI. Providence is a desirable city to reside in.
I live in a mid sized town in Eastern Iowa, my husband I make about $160k, family of 4. Our rent is $2100 per month. I’ve looked for less expensive rent and it’s either income restricted or tiny apartment complexes that don’t suit our needs. Most 3 bedrooms with 1600+ square feet rent for $2500 month plus utilities.
In Iowa? 😳
@@KentuckyBlue502 yes, Iowa!
Stop renting and own
We pay $2450 rent and earn half of what you do. You are fortunate.
$160k in Iowa? That's amazing! Talk about winning at life!
Tax the rich⚖️
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you... prevent inflation
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. I make a good amount of money per week even though I barely trade myself.
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some ‹professional advice. ‹it's totally inappropriate for investors to hang on while suffering from dip during significant
You trade also?, I
No I don't trade on my own anymore, I always required help and assistance
From my personal financial advisor
It's because of greed
There should be rent control in place across the country. If you work you should be able to afford an affordable place to live. This is just wrong😢
Never depend on a job to take care of you......Invest ...or find a way to. Make a second income
Living in the streets is becoming the new norm for the poor in Aneri 😮😢
Rather put my 3 kids in 1 bedroom then pay these prices
Landlords don't raise rents to keep up with maintaince, property taxes, insurance or vacancy costs. They raise (especially corporate) rents to keep up with rents other landlords are charging. It's an upward death spiral for tenants. Let's face it - if every mom and pop raised rents to what the big boys are charging for equivalent spaces - million would be homeless overnight.
If the rent prices were really out of control they would see vacancies. People are clearly making the money to afford any price they throw.
Ppl just bundle up sometimes one person are two persons on a lease doesn’t mean it’s just them living their
Maybe they aren't affording anything else...like adequate food.
People are clearly making the money. In my neighborhood as the average tenant moves or gets evicted due to not being able to afford the rent, more and more drug runners move in to take their places. The drug runners have no issue paying high rent on a forty year old property with bursting pipes and failing A/C units. They don't live here they just stash their dope here and pay people to stand guard over it.
@@christyme6395Same here in Manchester, NH. I got a car parked next to me with NY plates. Pretty sure they are stashing their supplies here.
The rent here in Baltimore is high too my last house the landlord wanted 1250 but wasn’t offering anything no central air just forced heat and a 25 yr old washer and dryer these landlords are charging ridiculous because they can get away with it now these 1 bedrooms are 15-1800 a month like really if you do find rent cheap it’s in a bad neighborhood and they still want you to make 3 x times the rent to even move in 🤦🏽♀️ section8 is no better because they know the cost of rent went up and they don’t want to pay 1500 for a 1 bedroom so what do you do🤷🏽♀️
Move to small town New Mexico where the apartment rents are just in the $500 - $800 range, no age or low income requirements
Single people should rent rooms, work their butts off, and save up to buy a small property.
This is capitalism. Gouge as much money out of people as possible.
Govt money printing
This is a corrupt government and globalism trying to collapse our dollar so we can move to a one world electronic currency.
It’s because of GREED!
12 years ago most mortgages were around the same price.
I don't know how people do it, people I know pay 3 times my mortgage for rent.😔
In America greed rules. It's all about the money...
The rents are still going up yearly here in SoCAL.
I see a lot of RUclips channels that advising against buying right now. I'm glad I bought in September of 2023.
Record high property tax collections and rising insurance rates are driving the rent increases. The increase gets passed along to the renters.
Easy fix. Outlaw out of state sales.,
That's never going to happen
Easier said than done
They need to start differentiating between landlord types when they report on the real estate and rent situation. There's a big difference between these companies coming on and buying up all the housing inventory and turning them into high priced rentals versus normal individuals or couples that own 1 or 2 properties as an extra source of supplemental income. My retired parents own one extra property besides their primary residence that they bought way back in the 90s, and they've constantly struggled with bad tenants the whole time all while keeping the rent consistently moderate compared to the rest of the market. These corporate investors out there are generally the ones gouging the crap out of people, but also assuming every renter or tenant is responsible and respectable is too broad of a stroke.
They do this on purpose because all they see is money. If they wanted to solve the problem they would’ve already done so.
So is anything going to be done or are we just gon keep talking about the issue???
It's your city officials and your city mayor that raises your rent has nothing to do with your state or government. It has everything you do with your city. Basically what's happening is every city council member in mayor is raising up the cost of living just to give back to the wealth. That's why everybody's property taxes go to the rich district
My rent went down
Handed my 1brm flat back to my property manager and im living in my Hiace van freedom camping for the New Zealand summer.
No more $350 a week in rent
They still intend to create 2% inflation annually when cost of good is at all time high.
Rent-pandemic.
I feel bad at how rent is so high. I was telling anyone that would listen to prepare and get their finances in order and purchase a home if possible back in 2016 and 2017. Only a handful of people actually listened to me, and those who didn't are paying more in rent than my mortgage. 🙃
How did you know ?
HOA ,property taxes,insurance and it gets passed on😊
But couples be expecting their 2nd child 😂