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I'd agree on certain things, but my fiancé and I are looking for a town house to rent right now and it is insanely hard to find one that isn't over $1200 or looks like it is about to collapse. Hopefully if there is over saturation in student rentals, some of the neighborhoods now flooded with rental units start returning to single family housing and some of the more rundown properties are torn down to be rebuilt with nicer buildings so they can better compete and finally I would love to see (never going to happen) rental prices go down.
This is also true. "Adult" housing is in high demand. My wife and I ran into a similar problem when I was finishing grad school a couple of years ago. The massive, generic apartment complexes have been overbuilt and are not getting rented out (The Ridge, West Run Apts, The Lofts, Campus Evolution (The District), State on Campus, UPlace, University Park, College Park, Mountain Valley, etc
Its hard to believe that some of the houses along Willey street are renting for 3,000 a month and they look like any moment they could collapse. With so many vacancies, and the profits so great to the ones occupied, I don't see anything new being built soon.
When contacted on Jan. 11, he said he’s not surprised CA Student Living decided to move on. He said all the legal rulings in the world wouldn’t make the building fit on the available space.
“They won in circuit court and we appealed and they won at the Supreme Court against us,” he said. “We lost, but it sure looks like we won, doesn’t it?”
Really? Who is "We". How is STC doing these days on that Indian burial ground? Oh, more stores have gone out of business?
I believe this more than anything above. Morgantown is way overbuilt at the moment
I agree, but if there is so much vacancy, why are rents still sky high (for an area no more afluent than WV, and for the quality of the housing offered)?
This is also true. "Adult" housing is in high demand. My wife and I ran into a similar problem when I was finishing grad school a couple of years ago. The massive, generic apartment complexes have been overbuilt and are not getting rented out (The Ridge, West Run Apts, The Lofts, Campus Evolution (The District), State on Campus, UPlace, University Park, College Park, Mountain Valley, etc
I don't think they're overbuilt. You are seeing an adjustment period. Prices will adjust downward until people fill the units. In the process, the crappy properties won't be able to compete and will come off line. There are a lot of slumlords who would love to unload their properties right now.
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