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It seems like every new apartment being built has luxury somewhere in the description. Along with a luxury rental rate to match. From what I could find. Average rent in Raleigh 1 bedroom 805 2 bedroom 935. It seems with all the growth in the area someone forgot about lower income folks. Maybe I'm missing something. I hope so. Not everyone can pay these prices. Not everyone can afford luxury. What about the working poor. Are they to be pushed to the side. Just forgotten about. Is Raleigh turning into a city of the haves? Pushing the have nots out of the way. In the name of progress. I hope not!
Location: Sodo Sopa at The Villas above Kenny' s House.
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Yep thats the plan from what I see. Heck I am a renter that got pushed into Garner. I am sure there will be others soon to follow. Rent increases in dwntwn Raleigh are not double digits anymore. The old run down house is now a hip historic bungalow with the rent to match. NYC forum rants about the luxury apartment boom. Developers are putting in buildings that can generate the most money regardless of who gets displaced. If you cant afford it your told to get some roommates. The new cool isnt living on your own, its living in a trendy building with 3 other roomates over 30.
Yes, the influx of highly paid transplants is disrupting the rental market.
Just saw a new place across from Trader Joe's on Wake Forest Rd. Unbelievably, a small studio rents over $1K.
This is not the Raleigh we moved to in 1989.
It makes me wonder why landlords think these newcomers would want to enter the rental market permanently. Many will only do 1 lease while getting acclimated to the area and deciding where they want to buy an SFH.
What will probably occur is a collapse of the market from overbuilding.
Hopefully the influx will soon stop.
Last edited by saturnfan; 11-13-2014 at 04:54 PM..
If all the projections hold true. Raleigh will continue to grow at this break neck pace. I don't have a problem with highly paid transplants. Or highly paid natives for that matter. My concern is low to moderate income people being pushed out of town. To Garner,Clayton,or maybe even Smithfield. Where else can they go? Dose everything need to be luxury? Or super expensive. The city needs to get involved. Unless someone plans on giving out some big pay raises. The janitors,maids,waitresses ect need somewhere to live too. Not only the Hi Tech crowd. We need some balance that's all.
If all the projections hold true. Raleigh will continue to grow at this break neck pace. I don't have a problem with highly paid transplants. Or highly paid natives for that matter. My concern is low to moderate income people being pushed out of town. To Garner,Clayton,or maybe even Smithfield. Where else can they go? Dose everything need to be luxury? Or super expensive. The city needs to get involved. Unless someone plans on giving out some big pay raises. The janitors,maids,waitresses ect need somewhere to live too. Not only the Hi Tech crowd. We need some balance that's all.
well, I have knowledge - not based upon my profession, by the way - that there is statistically by some measures not enough "affordable housing" stock.
However, if there is enough affordable housing today (low homeless, no signs that the low income working class struggles to get to work), and all of the transplants are higher-income, then there's already enough housing for low-moderate income folks.
I mean, I just must wonder what makes one raise the issue in the first place - it's basically a political issue for a political forum. perhaps you'd propose a tax on rents above a certain $/BR, so that the marginal increase in low income folks can get a rent subsidy?
What rent cost in 1989 has not a bit to do with what rent is today.
And by the way, in my riding around, we're already back to MANY "Hey - we've got space - 1st month free!" signs.
Yes, the influx of highly paid transplants is disrupting the rental market.
Just saw a new place across from Trader Joe's on Wake Forest Rd. Unbelievably, a small studio rents over $1K.
This is not the Raleigh we moved to in 1989.
It makes me wonder why landlords think these newcomers would want to enter the rental market permanently. Many will only do 1 lease while getting acclimated to the area and deciding where they want to buy an SFH.
What will probably occur is a collapse of the market from overbuilding.
Hopefully the influx will soon stop.
Supply and Demand. My guess is, at some point, many of the renters will decide to own for the same or less and then there will be a downward push on rental prices. Developers typically out build demand at some point.
Yes, the influx of highly paid transplants is disrupting the rental market.
Just saw a new place across from Trader Joe's on Wake Forest Rd. Unbelievably, a small studio rents over $1K.
This is not the Raleigh we moved to in 1989.
It makes me wonder why landlords think these newcomers would want to enter the rental market permanently. Many will only do 1 lease while getting acclimated to the area and deciding where they want to buy an SFH.
What will probably occur is a collapse of the market from overbuilding.
Hopefully the influx will soon stop.
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Originally Posted by saturnfan
If fewer transplants come to Wake County, that is a blessing.
The greed in attracting these folks here creating a burden on all taxpayers is disgusting.
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Originally Posted by saturnfan
Wakefield is a community. The county is Wake.
With the influx of transplants, re-districting will occur, especially in high growth areas.
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Originally Posted by saturnfan
Current political environment has deteriorated terribly and taxes are going up to support massive influxes of transplants without impact fees to pay for the required new infrastructure.
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Originally Posted by saturnfan
Just wait
There will then come a tech bust and all these overpaid transplants will run home with their tails between their legs.
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Originally Posted by saturnfan
Tax increases to cover infrastructure demands of transplants w/o impact fees.
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Originally Posted by saturnfan
Yes, school taxes are way less than LI, but excessive demands by transplants and a transplant infested school board may change the pricing.
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Originally Posted by saturnfan
The secret is out!
NC is not Heaven.
Maybe more of these transplants will stop believing the junk in the media.
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Originally Posted by saturnfan
Some other areas may not be so accepting of transplants who are now polluting their once uncrowded areas with their show off McMansions and "better than thou" attitudes toward original residents.
I'd suggest a name change. Perhaps one of the following
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