Southern California apartment rents are expected to continue rising through 2018 (Los Angeles: luxury, living)

[YoungTraveler2011]

Originally Posted by REITS4life

Wasn't there some post you had showing pictures of skyscrapers by the beach and wanting LA to look like that?

we can totally do that, as long as we fire the entire transportation department because they have all failed traffic engineering class & change main streets like Olympic, Santa Monica Blvd, Pico, La Cienega, etc. to one-way streets.

[Marv101]

Inmigration into the city of LA continues to decline since the state's housing policies favor apartments over SFRs by a very wide margin, and worsens the availability of land for SFRs which consumers favor by an equally wide or even wider margin, resulting in millions of folks leaving the state as they've been doing for ages according to the Censud Bureau and numerous demographers have poinred out for communities where SFR construction and other family-friendly policies are the rule.

TRULY affordable housing in this state is impossible to produce thanks to our Governor and his fellow no-growth zealots who've ruled the roost going back to his first stint as Governor.

[theoaks]

Originally Posted by Forever Blue

Well, it's that time of the yr again for my rent to increase & it's increasing by $100/mo, which is the biggest increase ever. In the past, it's been raised $70-80 (per month), but $100 more EACH MONTH?! So I'll be paying $1505/mo incl. utilities for a 700 sq ft apt in San Bernardino county.

I'm waiting on their reply regarding my trying to get it lower, but it's almost like falling on deaf ears since I rent from a corp. & not a private landlord, so they don't care if you've been a loyal tenant who never caused any trouble, always paid on time, & often been ahead, etc., etc. My rent is the same as the guy who comes into the leasing office today to look at apts.

This is really concerning to me because it's more of a struggle to save up to buy a home, like I'd like to someday, because any $$$ being saved up has to now go to the higher rent. My complex doesn't even tell me why nor how they came up to this new figure. They just say "that's the going rate in today's market", which I guess is the only thing they ever say.

Well, it's that time of the yr again. I just got the email about my annual increase that I always get at this time of the year. My rent increased by $100, which is the biggest increase ever. In the past, it's been raised $70-80 (per month), but $100 more EACH MONTH?!

I'm waiting on their reply regarding my trying to get it lower, but it's almost like falling on deaf ears since I rent from a corp. & not a private landlord, so they don't care if you've been a loyal tenant who never caused any trouble, always paid on time, & often been ahead, etc., etc. My rent is the same as the guy who comes into the leasing office today to look at apts.

A person would struggle to save up to buy a home, like I'd like to someday, because any $$$ being saved up has to now go to the higher rent. My complex doesn't even tell me why nor how they came up to this new figure. They just say "that's the going rate in today's market", which I guess is the only thing they ever say.

OP, you asked will rent ever decrease? Unfortunately, I don't think so. It's even impossible for mine to just stay the same!!!





I'm in the same boat, except I think w/ some major saving, I can still afford it, but I plan this to HOPEFULLY be my last year here.

They're not renting to you at the market rate, which for San Bernardino would be about 800 a month, the same as Vegas. They're rent is an artificially increased rent due to rent maximizing software. Vegas has their own, local property managers who don't use the software.

[Arizona89A]

Originally Posted by theoaks

They're not renting to you at the market rate, which for San Bernardino would be about 800 a month, the same as Vegas. They're rent is an artificially increased rent due to rent maximizing software. Vegas has their own, local property managers who don't use the software.

So does Phoenix.

This seems to be a very popular topic here.

The kooks at the corps - the kooks running the corporate apartment complexes in california.

[jm1982]

Rents will continue to increase, as long as demand continues to increase.

[majoun]

Originally Posted by jm1982

Rents will continue to increase, as long as demand continues to increase.

For how much longer, though?

[jr6035]

Originally Posted by socal88

Bottom line is there's still a ton of demand for infill LA as hiring has improved and east coasters continue to flee nasty winters back east. Compared to the last 3 years which has seen annual mid-to-high single digit growth in some areas, the rate of growth will likely decelerate, but until there's enough new housing supply to reasonably offset demand, I don't see rents stagnating any time soon.

LA is going to need to start going more vertical more I'm afraid. Also, it doesn't help that LA is a major safe haven for foreign capital especially from Asia, pushing home prices and some other real estate assets up because they've got so much cash to spread around.

If you hit these FOREIGN investors with a huge excise tax,this would stop. And every normal,working Joe can afford a home here. A 2bdr/1 bath 1100 Sqft home in Lake Balboa? 700k? ****ing ridiculous.

[majoun]

Originally Posted by jr6035

If you hit these FOREIGN investors with a huge excise tax,this would stop. And every normal,working Joe can afford a home here. A 2bdr/1 bath 1100 Sqft home in Lake Balboa? 700k? ****ing ridiculous.

Repealing Prop 13 would also stop it. As would raising interest rates, repealing the mortgage interest deduction, and increasing the supply a lot more.

[Cream1]

Originally Posted by majoun

Repealing Prop 13 would also stop it. As would raising interest rates, repealing the mortgage interest deduction, and increasing the supply a lot more.

Hey there real estate genius, we're all still waiting for your prediction of Porter Ranch turning into Pacoima to come true.

[Yermum]

Originally Posted by majoun

For how much longer, though?

If you could answer that with 100% certainty you would never have to work a day in your life.