Don't you guys get frusturated with the rent prices here? (Los Angeles: real estate market, foreclosures)

[Vascodagama]

I guess it’s just me but I see rent prices much more affordable now and reducing. I sold my last house in 2007 and have been renting while waiting for the right opportunity. In the mean time I found a 3bd home in Huntington Beach, close to the water, with space for my toys (2 boats, camper, truck) for only 2K a month. Before the housing bust this home would have been at least 3K. I also see apartments reducing rent prices with move-in specials because of all the vacancies. I guess it all relative.

[yeahthatguy]

Originally Posted by mysticaltyger

Yes, a lot of people do. The latest census figures for 2010 have shown that California's population growth rate has slowed down a lot as a result.

Most of the people moving to California now are those from other countries where they are used to paying a lot of their incomes for not very much living space. Native born Americans, other than the very high income folks, have been steadily moving out of CA for 20 years now.

Sounds about right . In the tech valley they form the dominant ones buying homes.. In their culture a home is everything.. shows prosperity and wealth... Had a good convo w/ indian/chinese co-workers today about real-estate and that fact. We are all down to earth so I concluded.. Hey, if you guys want it soo bad are willing to throw a life of savings at it .. have it.. the sun shines everywhere on earth.

[Majin]

If you have trouble paying $1100/month rent I suggest you move back to Kentucky.

[yeahthatguy]

There's only soo many people you can pack into a given space.. That will never stop human beings from trying to pack more.. Instead of spreading out, packing into one small corner of the earth and fighting like animals for the ability to stay. For some, this environment is ideal for them. For others, it isn't. Supply/Demand are the drivers for price... California has great weather/land .. Thus, the fighting and resultant 'price paid'. Optimal strategy in this climate is renting... Saving for the day when you value owning something/stability over the geography ... If you stow tons away in tax deferred shelters... You can drain them upon leaving w/o paying 9.25% state income tax.. Rent is high as hell here balls .. Due to market forces and just 'artificial' competition. I rent a 2 bdr 1.5 bath unit for $1695.00 w/ a roommate. Saving as much as a can. Never considered ever buying a home in CA w/ such prices. Let the foreigners do it IMO until the next tech bubble bursts... As they become more americanized and aware of things, they'll grow tired of 12-14 hour days and not seeing their kids..... Sometimes you need to know when to hold em and when to fold em.

[yeahthatguy]

Originally Posted by Majin

If you have trouble paying $1100/month rent I suggest you move back to Kentucky.

Great productive response there chap .. or not . I make over $115 grand a year .. It's not a matter of trouble paying rent .. It's a matter of it being absurd and frustrating because I know better.

If you don't like x.. GTFO .. nothing but winning right there

[Ceece]

Yeah it's frustrating. I am a homeowner but we are in the middle of some big changes financially. I initially thought renting would be the way to go but looking around I see that my mortgage isn't as much as some rentals (we bought 19 years ago). It's a tough spot.

[EdJS]

I used to be frustrated with the rent prices. So when my landlord increased it once too often, I bought a house. That happened in 1997. Since then, I've never had a rent payment.

I paid off my mortgage in 2008, so now I have neither a rent payment, nor a mortgage payment.

[ImRandy]

"Don't you guys get frusturated with the rent prices here?"

I don't even get frustrated let alone frusturated.

[Ultrarunner]

Yes, as a landlord, I am frustrated with Rent Prices... As a rule, I don't automatically increase my rents on an annual basis... it is not uncommon for an excellent tenant not see a rent increase for several years. Some have been with me more that 20 years.

My frustration is rents are falling significantly...

3 bedroom 2 bath home rented for $1500 will be $1350.

2 bedroom in duplex was $975 will be $875.

With so many foreclosures in the area being snapped up by investors looking for someone to offset the carry cost till the property can be flipped when/if the market recovers, rents are down significantly.

[pacific2]

Rents are increasing in Southern California, but I don't rent, so it doesn't bother me.

SoCal rents rise for 6th straight month
March 18th, 2011, 9:44 am
SoCal rents rise for 6th straight month - Lansner on Real Estate - The Orange County Register