California Renters Priced Out of Housing Due to Major Rent Increase (Irvine: section 8, foreclose)

[Colton929]

California's basically ground zero for the new neo-feudalism:


https://joelkotkin.com/neo-feudalism-in-california/

[CA4Now]

"Of the most expensive places for renters in the U.S., three California cities are in the top five, according to a recent report by the listing portal Rent. But they aren’t where you’d expect.

After Jersey City, N.J., and Boston, Palo Alto is the third-most-expensive city for rentals in the United States, followed by Glendale and Santa Monica. San Diego is ninth on the list, while Newport Beach came in at 10th. Los Angeles and San Francisco are in the next tier, at 12th and 13th, respectively.

Mike Van Gorder, a former member of the Glendale Tenants Union who ran for City Council in 2017, said construction of new luxury apartments is one reason for the lack of affordable housing in the city.

He said more than a dozen affordable housing units were torn down to build a parking lot for Glendale Community College’s Garfield campus.

“If people want their kids to be able to earn their own independence, then at some point, you’re going to have to prioritize creating new options on your streets,” he said. “Each suburb needs to have lower-income apartment buildings because otherwise, we’re going to end up in a scenario where the only people buying houses are private equity firms...”

‘I was in shock’: California rents are spiking:
https://www.latimes.com/california/s...re-youd-expect

[Vision67]

Originally Posted by MechAndy

I am originally from Germany and spent lots of my youth there alternating every few years between there and California.

I got to say Germans do a lot of stuff right.
Their educational system makes what we do here comical, same with their medical situation.
They understand that you need to be serious about hard work and getting things done.
They also enjoy 10-12 weeks of holiday per year to chill from that.
They understand that a strong healthy middle class is good for all.

When I want to do something/anything (even recipes) I look at what other people are doing and cherry pick what would work best for me.

I don’t know how our government does it but they seem like they didn’t get that memo .

I agree with you.

I spent time working in Germany and the employees of my firm in Germany were very happy campers. They never worked more than 40 hours per week but were very productive. Also, they got the whole month of August off for vacations.

I makes me wonder who really won the war?

[NearFantastica]

At least California has one of the highest minimum wages in the country to somewhat offset the high cost of living along with social programs to help low income renters and families, there's also statewide rent control which prevents greedy landlords from increasing rents. It's worse in other states that have crappy low wages and where renters are treated like second class citizens. Take a look at Arkansas for example where renters have no protections and can be thrown out onto the street for any reason an individual landlord sees fit

[blameyourself]

Originally Posted by NearFantastica

At least California has one of the highest minimum wages in the country to somewhat offset the high cost of living along with social programs to help low income renters and families, there's also statewide rent control which prevents greedy landlords from increasing rents. It's worse in other states that have crappy low wages and where renters are treated like second class citizens. Take a look at Arkansas for example where renters have no protections and can be thrown out onto the street for any reason an individual landlord sees fit

Yawn. Back to the "greed" nonsense. Do you not look after your own self interests? Is it the landlord who's greedy when he attempts to rent out a unit to a willing buyer under no duress? Or is it the buyer who's greedy because he wants to have rents from 3 years ago?

[done working]

Maybe you all should look at why apartments and multi family building are not being built. I have invested in REIT and its been 15 years for struggle to get a housing project approved due to all the crap from the city, state, fed agencies, fees and massive requirements for green built areas, a school, parks, environmental studies one after another because some ass does not want the area developed. I can go on and on. And then you people accuse developers of greed!

[HB2HSV]

Originally Posted by NearFantastica

At least California has one of the highest minimum wages in the country to somewhat offset the high cost of living along with social programs to help low income renters and families, there's also statewide rent control which prevents greedy landlords from increasing rents.

You just stated reasons why California has one of highest rent in the nation.

You guys don't get it. The more State impose regulations and "rent control" measures, the more landlords will charge higher rent in order to make staying in this business worth the risks.

[mgforshort]

Originally Posted by NearFantastica

At least California has one of the highest minimum wages in the country to somewhat offset the high cost of living along with social programs to help low income renters and families, there's also statewide rent control which prevents greedy landlords from increasing rents. It's worse in other states that have crappy low wages and where renters are treated like second class citizens. Take a look at Arkansas for example where renters have no protections and can be thrown out onto the street for any reason an individual landlord sees fit

This post explains why rents are so much lower in other states where landlords aren't obligated to act as big daddy to deadbeat tenants. During covid when tenants stopped paying rent for a year or longer landlords took a beating or worse. Now comes the payback. We aren't landlords or tenants, so we are safe unless the Prop. 13 is recalled here in California; Prop. 13 limits the property tax increases.

Buying our first home in 1985 was the best decision, ever, after marrying my dear wife. She might disagree with me on that, just don't ask her, please.

[HB2HSV]

Originally Posted by mgforshort

Buying our first home in 1985 was the best decision, ever, after marrying my dear wife. She might disagree with me on that, just don't ask her, please.

She may claim "temporary insanity", gave in to you in a moment of weakness

[Tulemutt]

Originally Posted by done working

Maybe you all should look at why apartments and multi family building are not being built. I have invested in REIT and its been 15 years for struggle to get a housing project approved due to all the crap from the city, state, fed agencies, fees and massive requirements for green built areas, a school, parks, environmental studies one after another because some ass does not want the area developed. I can go on and on. And then you people accuse developers of greed!

Originally Posted by HB2HSV

You just stated reasons why California has one of highest rent in the nation.

You guys don't get it. The more State impose regulations and "rent control" measures, the more landlords will charge higher rent in order to make staying in this business worth the risks.

Both of you post with the assumption that landlords are more worthy of cultural respect and protection than worker bees who are renting.

Why should either parties be exempt from suffering the vagaries of economic misfortunes?