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What is needed is simple and it is more multi-family housing construction!! Rents are increasing double digits year after year. At no time anywhere in our history have employers raised incomes at that rate. What keeps the rental market in check is the building of more apartment units. Something that for some reason today isn't happening and it needs to become a number 1 voting priority.
There is an easy solution. Take out a loan, buy some property and build some multi-family buildings. Then rent them at what you feel is an affordable rate. Be part of the solution. Instead of whining about your perception of a problem.
Everyone can have an opinion but I will report anyone who insults or leaves nasty reps faster than they can blink. Take your attitude to another thread.
Try doing what others have done to get ahead. I started out in a crap hole apartment 40 min to 1 1/2 hours from work depending on traffic, but I could afford it at $400 a month. Then when I got a promotion I moved to a better apartment closer to town. Then I moved to a rental house. Now I own a house. Do I want a crap hole apartment built next to my house? Nope, I worked my way out of that situation.
Sometimes the place you want to live is not feasible for your situation, so you work on changing your situation.
There is an easy solution. Take out a loan, buy some property and build some multi-family buildings. Then rent them at what you feel is an affordable rate. Be part of the solution.
If you're complaining about the rent being too high, how is taking out a mortgage gonna help, especially if you can't meet minimum deposit requirements? How can anyone meet, let's say, a 15% minimum deposit while paying for rent at the same time? Sounds easy when you are middle class and up, not so much when you are working class
There needs to be zoning regulations put in place, otherwise you get Houston which is basically a metro area that threw up subdivisions like crazy with no thought about transportation challenges other than, "drive a car idiot".
And families shouldn't be raised in urban areas? That's nonsense. Every other country in the world raises families in urban areas and they turn out fine. There is absolutely no reason why only singles and bar hoppers should live in urban areas.
Nope
Not unless said kids are going to private school and mommy and daddy got $$$$.
Public schools in urban areas are breeding grounds for drugs, gangs, and a slew of other problems. The big cities should be for the wealthy, singles, and dinks.
Liberals don't like this so they create hell holes on the governments dime, while constantly nagging about how these places are awful because of "the man." It's a joke. How many of these hell holes do we need in this country?
Not unless said kids are going to private school and mommy and daddy got $$$$.
Public schools in urban areas are breeding grounds for drugs, gangs, and a slew of other problems. The big cities should be for the wealthy, singles, and dinks.
Liberals don't like this so they create hell holes on the governments dime, while constantly nagging about how these places are awful because of "the man." It's a joke. How many of these hell holes do we need in this country?
Finally she located an ideal tiny studio which monthly rent is $1,650. However, upfront she has to pay one month security deposit + first month's rent + last month's rent + 3/4 month's rent as commission to the realtor + lock replacement fee = $1,650 x 3 + $1,273.5 + $100 = $6,287.5
And after all the hassles, the realtor told her that the landlord thinks she is not qualified because she has to have at least $100,000 annual income to be eligible to rent this studio! So I have to co-sign the lease.
Geez. A far cry from the $200/month all-bills-paid student off-campus housing I was in. Granted that was the mid 90s. There was only a $20 app fee, $100 deposit, and first month's rent to pay to get in too, so $320 total. No annual income requirement, no co-signer. Other than school and food the $200 rent was my only bill. Good ole days.
Two people have said to buy a home. Here is my answer to both of you and to any others telling me to do so.
NO!
While I "could" buy a home, I don't want to. I am a very mobile person and I haven't settled on where I want to establish roots yet. I'm not going to plant myself with a house and be stuck. One day, I will. But I haven't decided yet on what city or part of the country I want to live in.
The solution to high rents is not buying a home. Those markets are mostly exclusive of each other and renting being affordable should not force people into being stuck in a home they don't want. The solution to skyrocketing rents is to INCREASE SUPPLY OF RENTAL UNITS.
One bedroom, tiny apartments are not over $1,000 a month in most cities across our country! What middle income person can afford that along with all the other expenses that come with renting? NO, THERE ARE NOT PLENTY OF PLACES TO LIVE! Across the entire state of Florida the apartment shortage is skyrocketing rents. What I currently pay almost a thousand for (and my rent is increasing) my parents paid hundreds less for double the space in the late 90s.
We need more supply! I don't care how it happens but apartment building needs to be brought back up to 1970s and 80s levels.
Have you given any consideration to moving to a city where rents are more inline with your financial comfort level? Building more units in your location at current market rates (which is what any developer will do) is not going to solve your "The rent is too high" issue. Moving to a less desirable location may. Or perhaps finding a roommate. Millions of people in high rent areas have roommates to help defray the cost.
Try doing what others have done to get ahead. I started out in a crap hole apartment 40 min to 1 1/2 hours from work depending on traffic, but I could afford it at $400 a month. Then when I got a promotion I moved to a better apartment closer to town. Then I moved to a rental house. Now I own a house. Do I want a crap hole apartment built next to my house? Nope, I worked my way out of that situation.
Sometimes the place you want to live is not feasible for your situation, so you work on changing your situation.
I currently live in a crap hole apartment and pay almost $1,000 a month for it! It is going up to a $1,000 soon. And that is among the cheapest you can find in my county without section 8 assistance.
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