Rents are dropping across the US

Post by gowld » Wed, Jun 17, 2020, 11:37 PM UTC

asveikau wrote: post #88

spamizbad wrote: post #27

Earlier 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…

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…

Post by wmeredith » Wed, Jun 17, 2020, 11:42 PM UTC

mortenjorck wrote: post #115

ghaff wrote: post #3

"across the US" as in "in expensive coastal cities." I don't know the broader trend but, anecdotally, I know people who have/are in the process of moving out of cities for more rural locations. One couple I know just moved out of a major Northeast city to the coast of Maine. Others are seriously considering vacating NYC etc. With many tech industry jobs mostly WFH until the end of the year and the future in general u…

"Expensive" and "coastal" are critical caveats. Looking at the full Zumper report ( https://www.zumper.com/blog/rental-price-data/ ), there are surprisingly high year-over-year increases in a lot of other metro areas: Arizona sees nearly 8% increases in both Scottsdale and Tucson; Austin, TX is up almost 7% while even California has seen sizable increases in its second-tier cities like Sacramento (7%) and Bakersfield…

Post by baby » Wed, Jun 17, 2020, 11:57 PM UTC

chrisseaton wrote: post #186

leg100 wrote: post #15

That doesn't sound like much of a discount, what, 5%? Without moving, I got 40% off my rent for six months in the middle of London. I'd encourage tenants who haven't asked for a discount yet to do so.

What do you say? 'Give me a discount or...' or what? You'll move out? Sounds like moving would out be an absolute nightmare at the moment. Are you going to go flat-hunting in the middle of a pandemic?

Post by [deleted] » Wed, Jun 17, 2020, 11:58 PM UTC

baby wrote: post #245

chrisseaton wrote: post #186

Earlier quoted context omitted.

What do you say? 'Give me a discount or...' or what? You'll move out? Sounds like moving would out be an absolute nightmare at the moment. Are you going to go flat-hunting in the middle of a pandemic?

I've thought about reaching out to my landlords and ask if they would "consider aligning with the current market". I haven't done it because they've been good landlord, but at the same time I'm paying an insane rent (I live in SF) for a pretty average 1 bedroom... But what if rent continues to decrease, can't ask twice.

Post by phamilton » Thu, Jun 18, 2020, 12:06 AM UTC

claudeganon wrote: post #116

_bxg1 wrote: post #39

Earlier quoted context omitted.

Personally I miss the dives, the open mic nights, the hole-in-the-wall restaurants that have been slowly getting replaced with gleaming Ikea-fever-dream "fast-casual artisan eateries" and the like. (If I'm being honest the latter have a certain appeal to me too, but I think it's a travesty when they supplant things that are irreplaceably more human)

LA is actually good for this, because despite a few rich neighborhoods, it’s primarily an immigrant and working class city. I grew up in the Midwest, which people romanticize as the real America, small town life, etc. But now it’s mostly strip malls, chain stores, and deranged, adversarial politics. In LA, by contrast, I could find a small, locally-owned business for just about any service or need and people were fri…