That hasn't been my experience. My lease expires mid August, and I already got the lease renewal. The same level as the current one, not a dollar less. We started looking around. Everywhere the same, same level as the current one. I didn't get to ask about free months yet, maybe management companies will offer one-two months. But the actual rent per month is not going down, despite a significant number of vacancies.
Rents are dropping across the US
161–170 of 400 posts
Re: Rents are dropping across the US
#162Earlier quoted context omitted.
> Maybe not so good for those who were especially attached to either the vibrant city life or busy office life. I don't understand this reasoning. Was city life not vibrant when rents were 1/3rd the price? If anything, "hypergentrification" tends to have a sterilizing effect on city life. To be honest I'm kinda looking forward to it. Nothing against HENRYs (High earners, not rich yet)... but their "cultural tastes" a…
I am a HENRY but my cultural tastes are low for most of my peers standard. McDonalds I'm lovin' it.
Re: Rents are dropping across the US
#163Earlier quoted context omitted.
That's the thing with unsustainability, dude. No individual cares. It's about the aggregate.
I'm aware. Renewables and electric cars are on a tear. Don't force density when you can use technology instead to lower your impact. It's clear the city is too expensive for many, and folks are going to filter out of urban cores until a density equilibrium is reached. Do you care if I live in the middle of nowhere in the mountains if all of my power is clean solar, our cars are electric, I work from home, and pay for…
Re: Rents are dropping across the US
#164Earlier quoted context omitted.
Maybe this sounds strange, but I think there is also a category of people who prefer suburbs or exurbs and are really bitter that the pendulum has swung back to cities in the last ~20 years. They are really eager to see a trend out of small amounts of data. Or proclaim urban life dead, now and forever. I personally feel strongly in the other direction. We had the infamous "white flight" and car-centric communities an…
Kids change mindset. Kids love yards. They love the little creek that runs past. I love the safety. Small neighborhood, we all know each other and look out for the kids that run around playing.
Re: Rents are dropping across the US
#165Earlier quoted context omitted.
People are doing more than that. A former colleague caught folks working remote overseas as well.
What do you mean “caught”? Is there a stipulation on time zone or country? Truly don’t see the problem of bopping off to another country as long as you’re still doing your work and active in the team?
Re: Rents are dropping across the US
#166Seems silly to discuss the falling rental prices in prestigious cities without even a nod to AirBNB. AirBNB rentals have collapsed , and so a lot of owners have moved their properties into conventional long-term rental. This has created a glut in the rental market, and is driving prices down. https://www.straight.com/news/some-vancouver-airbnb-units-ar...
"1% increase in Airbnb listings is causally associated with a 0.018% increase in rental rates and a 0.026%"
This is about a fifth of the overall increase. We're talking about a $9-10 a month difference in rent in most urban areas. Not great, but clearly Airbnb is a small part of the problem.
Re: Rents are dropping across the US
#167Earlier quoted context omitted.
> Maybe not so good for those who were especially attached to...the vibrant city life I think it's good for those people too, because urban housing prices will also go down as people move away. It could become more affordable to have that vibrant city life alongside the others who actually want to be there and don't just have to be there. I'd personally be really excited to see Austin's skyrocketing growth and gentri…
Just a word of caution as someone who has went from D.C. to small town: It can also be not so good if you come with your previous political beliefs. Big coastal city politics are _very_ unpopular in smaller towns (not here to discuss the merits, just stating the reality). You won't make very many friends. Smaller towns don't have the same issues big cities do, so naturally it will require a different approach and way…
What makes sense in a city context doesn't always make sense in a town context. And what makes sense in a town doesn't always make sense in a city. The difference is huge, to the point that the best approach can be the opposite.
I think this is at the crux of a lot of the country's polarization and inability to understand the other side.
Re: Rents are dropping across the US
#168Earlier quoted context omitted.
Yes, I've been thinking of this the same way. As someone who plans to stay in NYC, I'm looking forward to a time when WFH is more normalized and people who live in cities are people who want to live in cities, not people who need to live in cities. It could be win-win for both types.
> people who live in cities are people who want to live in cities, not people who need to live in cities I'm not under the impression that the droves of techies riding free company shuttle buses from SF to Silicon Valley want to live outside of the city. Maybe that's a uniquely SF thing, as I believe Silicon Valley still employs more tech people than SF, despite SF becoming a tech hub itself post-mobile. People don't…
Maybe downtown SF is just the lesser of two evils between SF and SV because of job location. Maybe they really want to be with their extended family in a suburb of Cleveland.
Re: Rents are dropping across the US
#169Earlier quoted context omitted.
Maybe just don't lead with "I'm from the big city, hate guns, and love abortion" when introducing yourself to your new neighbors.
Well, no one would actually lead with that, but I've met people in the Bay that have lead with "What are your pronouns?" and "How do you identify?", either of which may make for an awkward (or worse) first impression in a lot of other places.
Re: Rents are dropping across the US
#170Earlier quoted context omitted.
Maybe just don't lead with "I'm from the big city, hate guns, and love abortion" when introducing yourself to your new neighbors.
Well, no one would actually lead with that, but I've met people in the Bay that have lead with "What are your pronouns?" and "How do you identify?", either of which may make for an awkward (or worse) first impression in a lot of other places.