Downtown Population increased 25% since 2000 (Pittsburgh, Troy: broker, pierogies, closing costs)

[doo dah]

Originally Posted by PghYinzer

My feelings are doing just fine, but thank you for your concern.

That is a valid reason for you to leave. A reason. That’s all I was asking for. People always talk in these obscure...it’s not coastal....it’s not NYC...

I do wish to know though where you are going, if you don’t mind me asking, that can offer a more worldly experience and is cheaper than here?

Ohio. It's round on the ends and high in the middle. Donchaknow.

[bluecarebear]

Originally Posted by jay5835

Did you move away from the Pgh. area?

No, I am renting at the moment in the city. Not for long though.

[Goodjules]

Rents are high here compared to home prices. OTOH, it must be what the market can bear, because I don't see them going down.

[_Buster]

Can someone please change the thread title to Yet Another Whining Thread about Rent Prices. I don't want to open it again by accident. Thanks.

[SteelCityRising]

Originally Posted by _Buster

Can someone please change the thread title to Yet Another Whining Thread about Rent Prices. I don't want to open it again by accident. Thanks.

You're right. Rents that have gone through the roof in much of he city over the past few years should be of no concern to the homeowners on here who bought when housing prices were still cheap.

[I_Like_Spam]

Originally Posted by SteelCityRising

You're right. Rents that have gone through the roof in much of he city over the past few years should be of no concern to the homeowners on here who bought when housing prices were still cheap.

Prices to purchase homes are still quite reasonable in Pittsburgh. Although not so much in high demand areas.

The only market abnormality right now is the fact that the cost of renting has risen a lot more than the cost of buying in Pittsburgh. But this kind of thing has a way of working itself out

[pman]

Originally Posted by Goodjules

Rents are high here compared to home prices. OTOH, it must be what the market can bear, because I don't see them going down.

Since this thread is about downtown, are downtown rent s high compared to downtown purchase prices?

[jea6321]

Originally Posted by pman

Since this thread is about downtown, are downtown rent s high compared to downtown purchase prices?

both are expensive compared to the rest of the pittsburgh area. There is not a huge stock of for sale condos/homes in the downtown area though.

Purchase prices do seem to be starting to catch up to rents currently. I take complaints of no more good deals with a grain of salt. I can find a great deal in just about any neighborhood on any given day excluding a few of the most in demand locations. there are still incredible deals to be had, and in 5-10 years people will be on here saying the same thing. " I wish I would have bought something back when it was still cheap" It always looks like you bought cheap 10-15 years down the road.

[pman]

Originally Posted by jea6321

both are expensive compared to the rest of the pittsburgh area. There is not a huge stock of for sale condos/homes in the downtown area though.

Purchase prices do seem to be starting to catch up to rents currently. I take complaints of no more good deals with a grain of salt. I can find a great deal in just about any neighborhood on any given day excluding a few of the most in demand locations. there are still incredible deals to be had, and in 5-10 years people will be on here saying the same thing. " I wish I would have bought something back when it was still cheap" It always looks like you bought cheap 10-15 years down the road.

you have to compare downtown rents to downtown purchase prices to say rents are too expensive versus purchase price. if someone wants to live downtown, larimer is not a perfect substitute. part of the reason rents are high is a lack of supply though you need a certain level of rent to justify converting these old buildings or building new. of course, building new is determined by other things such as zoning.

Developers can't build apartments and condos in Downtown fast enough — more than 96 percent of the units are occupied, the partnership said. The 3,569 units that were built or are in the pipeline nearly equals the number developed during the past five decades

Read more: http://triblive.com/news/allegheny/6...#ixzz3C5AXBqVr
Follow us: @triblive on Twitter | triblive on Facebook

[jea6321]

Originally Posted by pman

you have to compare downtown rents to downtown purchase prices to say rents are too expensive versus purchase price. if someone wants to live downtown, larimer is not a perfect substitute. part of the reason rents are high is a lack of supply though you need a certain level of rent to justify converting these old buildings or building new. of course, building new is determined by other things such as zoning.

Read more: Downtown Pittsburgh enjoys growth in population, building boom | TribLIVE
Follow us: @triblive on Twitter | triblive on Facebook

I never said rents were too expensive. Just that downtown is expensive compared to most of the city at large. I am fine with the price of housing (both rents/ purchase price) in pitsburgh.