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I honestly can't believe that rent has doubled in my city in less than 20 years.

I'm looking to move out of my current shitbox apartment and was searching on Craigslist for a new place when I stumbled upon a listing for a unit in my very first apartment building that I got on my own back in 2003. It was a shitty efficiency in a shitty part of the city and I paid $325 a month. Now apartments in that unit are going for $650 with ZERO upgrades.

$650 for an EFFICIENCY - a single room with a tiny kitchenette, small bathroom and a walk in closet.

In my area, 1 bedrooms and 2 bedrooms are currently priced around a $100 difference, and some within the same neighborhood.

Rents are getting out of control and my landlord just raised mine 4%..

EDIT: Pics for reference:

https://pic8.co/sh/81BrcQ.png

https://pic8.co/sh/1IkKsM.png

https://pic8.co/sh/Px0aZC.png

I honestly can't believe that rent has doubled in my city in less than 20 years. I'm looking to move out of my current shitbox apartment and was searching on Craigslist for a new place when I stumbled upon a listing for a unit in my very first apartment building that I got on my own back in 2003. It was a shitty efficiency in a shitty part of the city and I paid $325 a month. Now apartments in that unit are going for $650 with ZERO upgrades. $650 for an EFFICIENCY - a single room with a tiny kitchenette, small bathroom and a walk in closet. In my area, 1 bedrooms and 2 bedrooms are currently priced around a $100 difference, and some within the same neighborhood. Rents are getting out of control and my landlord just raised mine 4%.. **EDIT:** Pics for reference: https://pic8.co/sh/81BrcQ.png https://pic8.co/sh/1IkKsM.png https://pic8.co/sh/Px0aZC.png

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[–] • 0 pt

value...market value...dude, YOU are the one whose playing semantics games. Not me.

[–] • 0 pt

But it isn't like we even disagree here. You say demand pushes the price up, so yes demand pushed the market price or value or whatever else you want to call it.

Is the house more useful? No. So yeah I get what you're saying on that point too.

[–] • 0 pt

As long as we're agreeing...then we also agree then that when you say "so yes demand pushed the market price" what we're really saying is that it's a BELIEVED demand that caused/causes the prices to go up.

This is really the issue here (imo)

Its not like these beaners/illegals who are scrubbing pans and filling tacos could feasibly afford a home (and actually put new buyers into the area) it's the VOLUME of people within the area that allows the CLAIMS for real-estate agents and County assessors to falsely claim that an actual demand is present.

Home buying to a buyer is very different to a seller, an agent, and those who look to tax based solely on population numbers. Home buying itself is a system of deception built off promises and lies. (same goes for renting and "senior centers") . You wanna see a fucking racket, take a peek into what the elderly are being charged (monthly) for insane amenities that 99,1% of them have no chance of ever using. It'll blow your mind.

[–] • 0 pt

There are greater macro economic factors at play right now. We saw a lot of purchases of real estate as a hedge against inflation. Large management companies like Blackrock have been buying up homes and turning them into rentals. Overall a lot of pressure on the market.

Yeah, that end of life care for seniors is absurd. That partly a biproduct of people not having large families with the expectation that some of the kids will care for them.