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Old 01-17-2011, 01:36 PM
 
1,963 posts, read 4,257,809 times
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I would have thought that with the housing prices dropping that the rent would to. Rent is still the same here and it`s not cheap.
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Old 01-17-2011, 02:48 PM
 
Location: Stephenville, Texas
912 posts, read 1,362,257 times
Reputation: 1660
That's exactly the reason I moved away from the Denver area...rent way too high! In 2008, the airline I worked for was going through difficult times, as were all the airlines. We had to take a 10% cut in pay. About that same time my landlord was needing a lease renewal signed and they were going up $50 a month to $700/month! Kind of rough to live like that on $13/hr and pay that much in rent...unless you like living on Ramen soups!! I enjoyed living there and miss my friends, but I couldn't handle working that hard and not being able to do anything except pay my rent!
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Old 01-17-2011, 10:40 PM
 
Location: Littleton, CO
3,108 posts, read 4,673,512 times
Reputation: 5389
The housing crisis has thrown many people out of their homes, but they still need a place to live. It's classic supply and demand -- demand for apartments is up because people no longer own their houses, supply experiences shortages because of increased demand, and price (rent) for the limited supply of apartments goes up. Meanwhile, thousands of homes sit empty because they are owned by the bank which can't sell them, and has no desire to rent them.
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Old 01-18-2011, 09:49 AM
 
Location: Wherabouts Unknown!
7,756 posts, read 16,474,534 times
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IMO, supply and demand does not tell the whole story. Here in GJct, the rents have fallen only slightly, even though there has been a big increase in FOR RENT signs throghout the valley. I saw very few For Rent signs back in the go go days three or four year ago, and now they are all over the place....yet rents have fallen only slightly.
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Old 01-18-2011, 04:11 PM
 
Location: Durango, CO
169 posts, read 318,697 times
Reputation: 257
I think David has hit the nail on the head.
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Old 01-18-2011, 05:38 PM
 
1,963 posts, read 4,257,809 times
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venus, this depends on were you live. Everything is local.
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Old 01-18-2011, 06:38 PM
 
Location: Colorado, Denver Metro Area
1,048 posts, read 3,926,070 times
Reputation: 396
David is right on! All of the foreclosures that are empty are putting the people who lived there back in the rental market. That's why many places are seeing high rental increases and high year over year increase as well. There were many apartments in Denver that had many promos / move in specials; few of them are doing the "deals" that they had, if any at all.
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Old 01-19-2011, 10:45 AM
 
Location: Wherabouts Unknown!
7,756 posts, read 16,474,534 times
Reputation: 9292
Here in GJct, we've got it all...lots of foreclosures, many vacant rentals, AND high rental prices.
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Old 01-19-2011, 11:20 AM
 
1,963 posts, read 4,257,809 times
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If David is so "right on" then why is rent were I live basically the same as it`s been. There hasn`t been a dramatic change in rents.Maybe in Denver but not here.
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