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Old 10-02-2021, 10:38 AM
 
1 posts, read 882 times
Reputation: 15

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Prior to moving out of the city they were just tearing down the school that is now Phillips & Bakery Square's apartment complex. Now, that I'm back and see the final products & passing the signs on a daily basis - I took a look at the website for information on the apartments.

WOW - I 've check accouple times to make sure I'm not missing something but the prices seem to be extremely high!! Not completely out of the ballpark for the are but little confused on how a studios can have a $1500 - $3200 price range. ( Not to mention 1700 for a micro apartment)

After doing some lackluster calculations the average cost of a 1 bed is about $2500 ( once again prices ranges from 1500 - 4K )

WHY - Are the prices so high for these complex(s) ?
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Old 10-02-2021, 11:10 AM
 
Location: Pittsburgh
6,782 posts, read 9,588,550 times
Reputation: 10246
Anything new and near jobs and amenities is expensive.
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Old 10-02-2021, 11:13 AM
 
5,297 posts, read 6,172,002 times
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Union construction workers are very highly paid. Construction materials are very pricey. Taxes and maintenance and ongoing repairs are expensive. If there are no subsidies, the tenants are stuck with the bills.
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Old 10-02-2021, 11:20 AM
 
Location: Pittsburgh
6,782 posts, read 9,588,550 times
Reputation: 10246
Quote:
Originally Posted by Wells5 View Post
If there are no subsidies, the tenants are stuck with the bills.

I'm pretty sure that if they can lease a one bedroom for $2,500 per month, they do it even if it they could pay for the construction and maintenance at a rent $1,500 per month.
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Old 10-02-2021, 11:26 AM
 
Location: Boston
20,099 posts, read 8,998,912 times
Reputation: 18746
People won't work for less than $20 an hour. Of course they don't realize prices will go commensurately so they end up no better off than they did making $15.
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Old 10-02-2021, 11:31 AM
 
5,297 posts, read 6,172,002 times
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Question: Do the Bakery Square rents include heat, air conditioning, garbage collection, cooking gas, sewer and water, etc? Many apartment communities make tenants pay all of the utilities.
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Old 10-02-2021, 12:39 PM
 
Location: Pittsburgh, PA (Morningside)
14,352 posts, read 17,012,289 times
Reputation: 12401
Quote:
Originally Posted by Moby Hick View Post
Anything new and near jobs and amenities is expensive.
I believe these apartments are very popular with Google employees in particular.
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Old 10-02-2021, 08:14 PM
 
44 posts, read 28,575 times
Reputation: 18
Quote:
Originally Posted by skeddy View Post
People won't work for less than $20 an hour. Of course they don't realize prices will go commensurately so they end up no better off than they did making $15.
Well that's not true.

Prices might be affected more so by Covid, chip shortage, employment shortages, shipping delays. When I went from that factory job to an entry level engineering role, the surrounding neighborhoods did not jump up in prices as a response.

We're all running from inflation and trying to stay ahead of it's icy grip.

Don't get down on the little guy. Someone will always be there making the crap salaries, but I'm all for them fighting to getting more. No ones going to give them extra out of the goodness of their hearts.
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Old 10-02-2021, 08:58 PM
 
Location: Pittsburgh
6,782 posts, read 9,588,550 times
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People renting $2,500/month one-bedroom apartments are making more than $20/hour. That's $30,000 in rent on $41,600 income.
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Old 10-02-2021, 09:06 PM
gg
 
Location: Pittsburgh
26,137 posts, read 25,957,812 times
Reputation: 17378
Quote:
Originally Posted by Moby Hick View Post
People renting $2,500/month one-bedroom apartments are making more than $20/hour. That's $30,000 in rent on $41,600 income.
Or they share that apartment. Game changer. I slept on a floor for over a year starting out, but am a GenX. The younger you go the weaker people are. I am not as strong as the Boomers. I don't dare go behind them as they get way too tough before them. At least I recognize reality.
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