Rising rents are frustrating!! (rentals, landlords, real estate, loan)

[FirebirdCamaro1220]

Originally Posted by Potential_Landlord

I remember rent control in Vienna, Austria. Landlords had to offer rent at way below market rates and therefore at any new rental agreement the tenant had to bring a wad of cash, in the thousands of $. That told me right there that rent control is bogus. What a pretense.

Rent control works for existing tenants, which is the point. Unless you're ok with incumbent residents being priced out of their dwellings

[Prickly Pear]

Originally Posted by elcajones

Just paid my rent for my 1 bedroom. It's a really nice 1 bedroom with full size washer/dryer but still too expensive for the damn desert. $1,074.44. I moved here in 2013 because it was cheap. It was the price to pay to live in this hot hell. Now, honestly rents aren't far off from San Diego area anymore. I'll stay for now but, if it gets much higher, I'm going to look for somewhere with nice cooler temps.

I'm not sure what part of town you are in, but that is what I was seeing roughly in central Phoenix back when I was looking to live on my own. But those were all laundromat style too. The ones cheaper had roaches or ridiculously small (450 sq ft or less) which wouldn't work for me.

Now I rent a house a pay a couple hundred less, but I get to be in a nice area with a lot of amenities. It's really tough to live on your own, and it has been for decades. People shouldn't assume everyone is married with dual incomes. Single people need housing and places to live too. You shouldn't need to make 60k in order to do so.

[Potential_Landlord]

Originally Posted by FirebirdCamaro1220

Rent control works for existing tenants, which is the point. Unless you're ok with incumbent residents being priced out of their dwellings

Vienna was even more extreme in legislating below market rents for new contracts, and then rent control for annual increases. Not sure how it works here. The way market prices come through in Vienna is in extra cash payments. Not sure how they come through in rent control areas in the US, but one thing is sure - they always come through. Ask me about how it worked in East Germany where the black market ruled the whole officially "socialist" economy.

[FirebirdCamaro1220]

Originally Posted by Potential_Landlord

Vienna was even more extreme in legislating below market rents for new contracts, and then rent control for annual increases. Not sure how it works here. The way market prices come through in Vienna is in extra cash payments. Not sure how they come through in rent control areas in the US, but one thing is sure - they always come through. Ask me about how it worked in East Germany where the black market ruled the whole officially "socialist" economy.

That's not how it works in the US, the only three major cities that still have rent control and/or rent stabilization (they are different) are NYC, LA and SF. The tenants don't bribe the landlord an extra amount like what you're describing

[Potential_Landlord]

I think we have to keep building like there's no tomorrow and keep building costs as low as possible. After 2008 it was "drill baby drill" to keep crude oil prices low and make the US the world's largest oil producer. Now it's "build baby build" to get a handle on rising housing costs (both rent and own). It's going to be a struggle for a while and the level of immigration also factors in.

[CAHLUV]

Originally Posted by Prickly Pear

I'm not sure what part of town you are in, but that is what I was seeing roughly in central Phoenix back when I was looking to live on my own. But those were all laundromat style too. The ones cheaper had roaches or ridiculously small (450 sq ft or less) which wouldn't work for me.

Now I rent a house a pay a couple hundred less, but I get to be in a nice area with a lot of amenities. It's really tough to live on your own, and it has been for decades. People shouldn't assume everyone is married with dual incomes. Single people need housing and places to live too. You shouldn't need to make 60k in order to do so.

I think the mindset of our country is if you can't afford to live alone...you adapt and get a roommate. Seems that many would say that living on your own is not a privilege. I sacrificed when I was in San Diego living in an undesirable area before I could get a condo and still worked hard to live below my means before I said barely 6 figures just to have an apt/condo wasn't worth it. Trust I've been was So Cal for a while and use to laugh when folks say it's still a middle class in that particular area but its the reality of median working wages not going far in some cities.

[RVFullTimer]

I can't believe the cost to rent a place or to even buy a place and some are just dumps that cost a fortune. The homeless rate here in Washington state is on the rise and seen on the news practically every night. People are being forced out of their apartments and living in their cars. Just the other day on the news a man was forced out by pricing from his apartment and moved to live in on a small boat at a marina just for a place to sleep. An electric heater started a fire and burned down his boat and the neighbors boat. The problem is the rich get richer at the expense of the middle class and the poor. The real estate investors buy properties and jack up the prices for profit. I currently rent a space that I park my RV but the rent for RV space are also going up. So I am looking to buy my own parcel of land to park my RV. Technically living all year in your RV on your own land is not legal here in WA. but is not enforced in rural areas unless there is a "problem" such as not having sewer or septic hooked up (check with county). Owning your own land is the only way to control the rising rent issue.

[bunding761031]

I share your frustration. I moved to Arizona in 2005 (Tempe) and have witnessed the rapid rising costs for housing every year. I rented a Junior One Bedroom at McClintock and Southern for $465 from 2005-2007. Then started to see a solid uptick in rents. Today, that same unit is at least $780. And that's the cheap side! Rents in the East Valley in general have risen so much! Even Mesa isn't cheap anymore. It's way up everywhere! I moved to Central Phoenix, Glendale, North Phoenix and Gilbert and it was the same thing! I have noticed a lot of construction of condos in Tempe and Central Phoenix and wonder if rents will increase anymore, even though supply is rising. I've moved every year since 2007 because I got sick of the rising rents. But I don't care about Arizona anymore. Frustrated with the rising rents, I am having my job transfer me back to the Midwest next week. Rents are too high for a hot, backwards, hellish desert.

[Bondurant]

Originally Posted by bunding761031

But I don't care about Arizona anymore. Frustrated with the rising rents, I am having my job transfer me back to the Midwest next week. Rents are too high for a hot, backwards, hellish desert.

I hear a small violin playing.

[WhoHooo]

Rising rents are always frustrating. I should know this, as I have experienced this first hand.