Rental Wars: The Pain Continues (Sarasota Rents Up 15% In Past Year)

[Ladywithafan]

It seems to be on Craigslist that the going rate for even a room share in a house is averaging $700/month plus utilities. Rentals continue to increase but the jobs don't, hmmmm...

[Cardiff by the Sea]

Originally Posted by craigiri

The idea that single people or single income service industry workers can afford ANY private housing is probably not valid - especially near the water or coasts.

When I was not making much money we shared a house between 3 people.

Sadly, that's the reality today unless you have an inheritance or a family that helps you a lot. When we were getting started way back my parents helped us with the first down payment on a 26K ranch house. In turn, we helped all three of our kids in the same way so now they will always have a house (at least)....

Income inequality is a big problem in this country and much of the world....but that's fodder for another thread.

That is normal. I did that in my twenties. In my 30s, I owned the house, and had roommates. That gave me money to remodel. And yes, my mother helped me with the downpayment. That is the way it is with most people who have have inhabited the world I know. Each generation helps their kids get into that first house.

Then I got married. Two incomes. A roommate with benefits.

I read an article recently, which I wish I had kept a link to. The point of the article was to describe how much our standard of living has increased in the last century. Everyone has a romanticized view of how great it used to be in terms of food, transportation, housing, jobs, etc. It ain't so.

The housing example the author gave was life in her mother's age. Her parents lived in the bedroom of her grandparents house. For their honeymoon, they went for 3 days to visit other relatives. Their marital bed belonged a 3 year old who was still in it.

My point is just when did it become normal for young single people to expect to be able to have housing of their own? That is a luxury.

[imagardener]

This problem has always been reality in a resort location where many landlords can make more money seasonally on tourist rentals than year round rentals to worker bees. I come from a beach town in Delaware and when I was in college almost all the waitresses had family homes they lived in rent free or several friends would get together and split rent.

That's a fact of life and Sarasota is the same.
I now live in Englewood and the rentals are less costly but also hard to find a nice one. Landlords want bang for their buck so spend as little as possible on fix-ups to get a decent tenant and even they prefer to rent seasonally because it's less wear and tear on property. If you can make the same money renting for 4 to 5 months instead of 12 months it's a no-brainer.

I'm not a landlord here but have seen the rents they get for low cost properties and they are making great money for not much investment, much higher than any other place I've lived.

[gypsychic]

Originally Posted by Cardiff by the Sea

That is normal. I did that in my twenties. In my 30s, I owned the house, and had roommates. That gave me money to remodel. And yes, my mother helped me with the downpayment. That is the way it is with most people who have have inhabited the world I know. Each generation helps their kids get into that first house.

Then I got married. Two incomes. A roommate with benefits.

I read an article recently, which I wish I had kept a link to. The point of the article was to describe how much our standard of living has increased in the last century. Everyone has a romanticized view of how great it used to be in terms of food, transportation, housing, jobs, etc. It ain't so.

The housing example the author gave was life in her mother's age. Her parents lived in the bedroom of her grandparents house. For their honeymoon, they went for 3 days to visit other relatives. Their marital bed belonged a 3 year old who was still in it.

My point is just when did it become normal for young single people to expect to be able to have housing of their own? That is a luxury.

I agree with all of this. When I was young and single and working a low income job I always rented cheap dumpy apartments in sketchy areas (in Tampa) Occasionally got a better place with a roommate. When I got married my parents scraped together a small down payment for our first house and it went from there.

ALSO LET ME SAY THIS: I am a native Floridian. Sarasota has ALWAYS been a pricier and (considered very desirable) place to live. I remember back in the 80s, where servers and bartenders were always having to get creative to find an affordable place to live. And the houses were always much more expensive than Tampa and other such cities. As has been mentioned, Sarasota is a city with a lot of desirable amenities, it is small and beautiful with fantastic beaches, lots of arts and cultural venues, shopping, entertainment, etc. and it draws wealthy people from all over the world. There is a high contingent of famous artists and celebrities who reside full or part time here. And of course it attracts snowbirds and vacationers galore. So there is stiff competition for places to live. This is the case for desirable areas everywhere.

Lastly, I am not a landlord, but I don't think they are "greedy" at all. I have been a landlord in the past and I know what a nightmare it can be and also how costly. Expenses are high here, especially for non-owner properties, and between taxes, insurance, utilities, damages, repairs, eviction, etc. etc. they have to ask a LOT. I always wonder how they even break even, let alone a profit. People who don't want to pay rent need to figure out how to buy, period, or else move some place that is cheaper to live.

[kiggy]

"Income Inequality", whatever that truly is, will never be solved by socialism. The USSR collapsed because of it, because governments tend to be corrupt with absolute control, with government officials getting rich off EVERYONE, regardless of income level. Trust me, this nation was made great by offering the freedom to pursue happiness. Greed isn't the problem. It's liberals who think that the government is the solution for everything. Ben is right -- get a job, work your butt off, and continue to pursue opportunities as they come. Socialism just drags everyone down.