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That was the price for rent decades ago in Silicon Valley so it isn't surprising to me to see it here now especially with the growth in Tech.
I rented by myself in Silicon Valley with two children when I was going through a divorce about 25 years ago and was able to do it (and I did it without any financial support from soon to be exhusband). I just had to work hard, really budget and plan. After that period I was then able to buy a new home with hubby #2. We did make some sacrifices though. In order to get the size of home we wanted, we did have to commute a fairly long distance to work each day (60 miles each way). But it was worth it to us at the time. For those that can't afford rent on their own then they really need to be open to roommates (and possibly commuting) and then set a plan and then really work hard and save for the future if they want to live on their own and/or buy.
My daughter was paying about $2k (by herself) for her one bedroom apartment in downtown Charlotte NC a couple years ago. After experiencing and enjoying a downtown lifestyle she was ready for a SFH lifestyle in suburbia and bought a new home.
So it really all comes down to goals, choices, dedication and determination.
Last edited by NRaleigh Mom; 03-29-2023 at 10:24 AM..
Reason: Had to change something.
So I just visited the mentioned areas, it was very pleasant and I enjoyed seeing all that there was to see. I was amazed by the diversity, I heard Finnish, Farsi, Spanish, Punjabi, Hindi, and Mandarin Chinese languages all being spoken just in the Crabtree Mall.
My question is how can anybody keep up with the cost of living? $1800 - $2000 for a 1-2bd apartment. 500k-800k for a modest home. I understand that a lot of these immigrants (especially the south asians) are working in high salaried professions but this is as crazy as NYC.
Yep. I am leaving in 2 months because of it.
When I got here, this was before lockdowns, this place was extremely affordable. The gas was $1.75 a gallon. I actually went into the store before pumping gas here the first time to inquire if that was accurate, I was so shocked. They looked at me like I was an alien.
The rents were very reasonable. The place I live now, I've lived in since I got here. I could not believe that I would get such a nice location, with lake and trees everywhere, a trail around the lake, etc, a complex that has been here for over 30 years, and it looked like you were living in the Shire, for such a low rent.
That's over with. It shot up over 50% in just 2 years. And, if you look around elsewhere, to much less desirable complexes (meaning, nowhere near as nice as this one was), they are charging the same thing. "Markets...blah, blah, blah", I swear these landlords get together and see how far they can push it.
Welp...when you get an influx of people fleeing their states due to their horrible voting decisions, guess what happens. They move to a state that seems to be less...insane...I'll leave it at that...but they also bring all of their huge portfolios and bank accounts with them. And then they start building, and building, and building, and building...and the prices go higher and higher and higher.
I don't know how a lot of people are making it these days in this area. What in the heck are all those service providers doing to make it? How many roommates do they have? Do they still live at home? There's no way that they can afford the rent around here, even with inflated "due to Covid, we are desperate for workers, so we'll pay you twice the amount (while you do less of the work as if you can't be bothered), and will pay you a huge bonus if you just pleeeeeeeaaaaaase stay here for at least 3 months" wages.
All the "free" money is over. Even if on food stamps, that isn't going to help you pay the rent. I've seen a lot of cars being towed - brand new cars - all over the place in the last year. I've seen a ton of UHauls in the last year. I know some have completely left the state, but, there are still a whole lot of people here who don't make that much money, but their rent shot through the roof. How are they doing it?
I can still afford to live here, but I don't want to pay this much, no matter how much I love the area I live in right now. I have no desire to live anywhere else in this area, and I will very much miss the large, screened in porch that overlooks the lake and forest...MAN am I going to miss that...but it's not worth it anymore. Not at these prices. Even my neighbor, who has lived here for 16 years, has said that he's leaving because of the rising rental prices.
I can tell you that there's plenty of people here with a boat load of money, however. I know, because I do their shops, or pick up their food orders. They still spend a ton of money on delivery. They still are super, and I mean, super! picky about their groceries.
I understand certain diet ideologies, or even necessary dietary needs, but boy, if they can't get exactly the brand that they want, despite there being other brands offering the same dang thing...I'm just saying, if everything were to hit the fan, these people are going to be in big trouble. They want organic, grass fed, cage free, born free, anxiety free, well educated, happy go lucky, creative, talented, and even keeled chickens to lay their eggs, but it must come from only this brand, no. other. will. be. tolerated!
You can only be that picky if you don't have to worry about money and paying mortgage or rent at these much higher prices...let alone the fact that their specific, very specific and very special, food costs even more than the higher prices on regular groceries.
So, that's who is making the costs go up - these people, with all the money to be picky about every last detail, because they come in, build huge houses, make 4 times the amount than you do, annually. The landlords see that, they start rubbing their hands together like Mr. Burns, and jack up everyone's rent, declaring 'it's what the market will bear'.
Eventually, Raleigh, Cary, and Morrisville, among other outlying areas, will be more concrete jungle than beautiful wooded areas, more people and less enjoyable wildlife, which so many tell me, when I get excited at seeing a deer while dropping off someone's groceries, that was why they moved where they did. We'll see how long that lasts. They've already ripped up so many areas around Holly Springs and Farquay Varina...it's going to get worse. It will eventually become one giant non stop city - where you can't tell where one ends and one begins. The forests? Say good bye to those, as the prices continue to soar for more congestion, and more destruction.
Quote:
Originally Posted by twingles
I find the young people here are much more optimistic about it too. THey don't expect to live in mom and dad's basement till they are 30.
My nephew just rented a 1BR for $1400. My niece is in a 2BR in the same complex and only pays slightly more, she got in over the winter when not so busy. Nice complex, although she is literally 2 doors down from the guy who kept the hostage negotiators busy a couple weeks ago. She has the whole thing on her ring camera.
I know exactly where that is. I use the road around that complex to get to certain stores, avoiding all of the lights and traffic. Unfortunately, more are learning about that road.
That day, obviously, I was unable to use that road due to the ridiculous amount of cop cars blocking everything. There must have been at least 50 of them, plus other law enforcement vehicles, medics, etc. And then, the helicopters circling around in the sky. I asked one of the cops that was at the entrance of that complex if it was an exercise. He said no, it wasn't.
That rental price is just a little bit lower than most of the others in that part of Cary. Not by much, but hey, even $100 is nice to save. Where I live, it's gone beyond that.
Last edited by Three Wolves In Snow; 03-29-2023 at 11:34 AM..
When I got here, this was before lockdowns, this place was extremely affordable. The gas was $1.75 a gallon. I actually went into the store before pumping gas here the first time to inquire if that was accurate, I was so shocked. They looked at me like I was an alien.
The rents were very reasonable. The place I live now, I've lived in since I got here. I could not believe that I would get such a nice location, with lake and trees everywhere, a trail around the lake, etc, a complex that has been here for over 30 years, and it looked like you were living in the Shire, for such a low rent.
That's over with. It shot up over 50% in just 2 years. And, if you look around elsewhere, to much less desirable complexes (meaning, nowhere near as nice as this one was), they are charging the same thing. "Markets...blah, blah, blah", I swear these landlords get together and see how far they can push it.
Welp...when you get an influx of people fleeing their states due to their horrible voting decisions, guess what happens. They move to a state that seems to be less...insane...I'll leave it at that...but they also bring all of their huge portfolios and bank accounts with them. And then they start building, and building, and building, and building...and the prices go higher and higher and higher.
I don't know how a lot of people are making it these days in this area. What in the heck are all those service providers doing to make it? How many roommates do they have? Do they still live at home? There's no way that they can afford the rent around here, even with inflated "due to Covid, we are desperate for workers, so we'll pay you twice the amount (while you do less of the work as if you can't be bothered), and will pay you a huge bonus if you just pleeeeeeeaaaaaase stay here for at least 3 months" wages.
All the "free" money is over. Even if on food stamps, that isn't going to help you pay the rent. I've seen a lot of cars being towed - brand new cars - all over the place in the last year. I've seen a ton of UHauls in the last year. I know some have completely left the state, but, there are still a whole lot of people here who don't make that much money, but their rent shot through the roof. How are they doing it?
I can still afford to live here, but I don't want to pay this much, no matter how much I love the area I live in right now. I have no desire to live anywhere else in this area, and I will very much miss the large, screened in porch that overlooks the lake and forest...MAN am I going to miss that...but it's not worth it anymore. Not at these prices. Even my neighbor, who has lived here for 16 years, has said that he's leaving because of the rising rental prices.
I can tell you that there's plenty of people here with a boat load of money, however. I know, because I do their shops, or pick up their food orders. They still spend a ton of money on delivery. They still are super, and I mean, super! picky about their groceries.
I understand certain diet ideologies, or even necessary dietary needs, but boy, if they can't get exactly the brand that they want, despite there being other brands offering the same dang thing...I'm just saying, if everything were to hit the fan, these people are going to be in big trouble. They want organic, grass fed, cage free, born free, anxiety free, well educated, happy go lucky, creative, talented, and even keeled chickens to lay their eggs, but it must come from only this brand, no. other. will. be. tolerated!
You can only be that picky if you don't have to worry about money and paying mortgage or rent at these much higher prices...let alone the fact that their specific, very specific and very special, food costs even more than the higher prices on regular groceries.
So, that's who is making the costs go up - these people, with all the money to be picky about every last detail, because they come in, build huge houses, make 4 times the amount than you do, annually. The landlords see that, they start rubbing their hands together like Mr. Burns, and jack up everyone's rent, declaring 'it's what the market will bear'.
Eventually, Raleigh, Cary, and Morrisville, among other outlying areas, will be more concrete jungle than beautiful wooded areas, more people and less enjoyable wildlife, which so many tell me, when I get excited at seeing a deer while dropping off someone's groceries, that was why they moved where they did. We'll see how long that lasts. They've already ripped up so many areas around Holly Springs and Farquay Varina...it's going to get worse. It will eventually become one giant non stop city - where you can't tell where one ends and one begins. The forests? Say good bye to those, as the prices continue to soar for more congestion, and more destruction.
I know exactly where that is. I use the road around that complex to get to certain stores, avoiding all of the lights and traffic. Unfortunately, more are learning about that road.
That day, obviously, I was unable to use that road due to the ridiculous amount of cop cars blocking everything. There must have been at least 50 of them, plus other law enforcement vehicles, medics, etc. And then, the helicopters circling around in the sky. I asked one of the cops that was at the entrance of that complex if it was an exercise. He said no, it wasn't.
That rental price is just a little bit lower than most of the others in that part of Cary. Not by much, but hey, even $100 is nice to save. Where I live, it's gone beyond that.
So.....do you not see the irony in the first bolded paragraph and then the lower two bolded paragraphs? Regardless of ones ideology....it is pretty obvious that those concerns (whether based in realty not) are definitely from...opposite sides of the ideological spectrum.
I understand the internet is a convenient place to vent frustrations and it is definitely frustrating that the COL in the Triangle has risen SIGNIFICANTLY in the past decade; but this rant gets a little silly with that contradiction. Especially considering that the voting patterns and legislature of NC as a whole has actually shifted in the opposite direction of the one to which you allude in the the first bolded paragraph....
My question is how can anybody keep up with the cost of living? $1800 - $2000 for a 1-2bd apartment. 500k-800k for a modest home. I understand that a lot of these immigrants (especially the south asians) are working in high salaried professions but this is as crazy as NYC.
There is a reason for joke about Cary standing for Containment Area for Relocated Yankees. The old tax law was that you could defer paying Capital Gains on the sale of house, as long as the next house you bought was more expensive.
Back in the 80s, things were beginning to explode. People were moving here from the north, where the average house may cost $200k, while the same thing were was $80k. The need for the transplants to spend at least $200k on a new house helped to start to drive an exploding housing market. There were reports of the Cary inspectors doing "drive-by" inspections since there were so many to inspect.
There is a reason for joke about Cary standing for Containment Area for Relocated Yankees. The old tax law was that you could defer paying Capital Gains on the sale of house, as long as the next house you bought was more expensive.
Back in the 80s, things were beginning to explode. People were moving here from the north, where the average house may cost $200k, while the same thing were was $80k. The need for the transplants to spend at least $200k on a new house helped to start to drive an exploding housing market. There were reports of the Cary inspectors doing "drive-by" inspections since there were so many to inspect.
Or, as one contractor explained it:
"You want a sign off, you'd best carry that permit card to my truck."
There's a lot of pretty rough stuff in Cary from the 1980's.
Location: River's Edge Inn, Todd NC, and Lorgues France
1,738 posts, read 2,576,135 times
Reputation: 2780
Quote:
Originally Posted by LordHelmit
There are 1bd apartments in all those cities for less than $1800, and it's not nearly as crazy as NYC. I can afford living here by working hard. I don't even have a college degree but I make six figures (and no I don't work construction or in a trade or anything) and am in a nice house near North Hills. For someone who has drive and ambition, it's actually easy. Dual income households make it even easier.
When I got here, this was before lockdowns, this place was extremely affordable. The gas was $1.75 a gallon. I actually went into the store before pumping gas here the first time to inquire if that was accurate, I was so shocked. They looked at me like I was an alien.
The rents were very reasonable. The place I live now, I've lived in since I got here. I could not believe that I would get such a nice location, with lake and trees everywhere, a trail around the lake, etc, a complex that has been here for over 30 years, and it looked like you were living in the Shire, for such a low rent.
Quote:
Originally Posted by TarHeelNick
So.....do you not see the irony in the first bolded paragraph and then the lower two bolded paragraphs? Regardless of ones ideology....it is pretty obvious that those concerns (whether based in realty not) are definitely from...opposite sides of the ideological spectrum.
I understand the internet is a convenient place to vent frustrations and it is definitely frustrating that the COL in the Triangle has risen SIGNIFICANTLY in the past decade; but this rant gets a little silly with that contradiction. Especially considering that the voting patterns and legislature of NC as a whole has actually shifted in the opposite direction of the one to which you allude in the the first bolded paragraph....
"You are not stuck in traffic - you are the traffic!"
The average college graduate making $55k/yr out the door living on their own will struggle to pay rent while living near RTP, so they'll likely live with roommates or parents for a few years. The smart ones will live like college students for a few years til they save up for a down payment and buy a home (easier said than done nowadays) to hedge against skyrocketing rent costs.
Single income first time home buyers will probably end up buying on the outskirts of Wake County rather than in Cary or the nicer parts of Raleigh/Durham/Chapel Hill. Those lucky enough to be in a dual income no kids or high income situation as well as those moving from more expensive areas can still very easily afford to buy a home in the more desirable areas in the triangle.
Location: Chapel Hill, NC, formerly NoVA and Phila
9,781 posts, read 15,798,761 times
Reputation: 10894
Quote:
Originally Posted by Universe93B
I used to complain about the same prices when I was thinking about a possible move to NOVA (northern virginia). Now those same numbers are down here!
And NoVA is now much more than that! I moved away in 2012. I recently looked at prices of homes in my former town (Vienna), and wow! 3-bedroom 1950s split levels for the $900Ks. 1950s ranches in the $800Ks. Absolutely crazy!
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