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Rents are dropping across the US

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Re: Rents are dropping across the US

#301

Post by metalforever »

perl4ever wrote: post #219
christiansakai wrote: post #71

Earlier quoted context omitted.

I am a HENRY but my cultural tastes are low for most of my peers standard. McDonalds I'm lovin' it.

I've never lived in NYC, or made enough to have the option, but my lasting impression from every time I've visited is how easily you can find food that's exponentially better than McDonald's for comparably low prices. Of course, anything tends to be better when there's more traffic/volume and more competition.

Yeah I agree with this . In NYC it’s not even that cheap.

Re: Rents are dropping across the US

#302

Post by phendrenad2 »

ryandrake wrote: post #239
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…

> With many tech industry jobs mostly WFH until the end of the year and the future in general uncertain, a lot of people, especially those with leases coming up for renewal, are thinking this is a good time to make a move. I'm not sure I understand this. Tech industry is WFH for now . So you move out to Flyover, USA. Once the COVID-19 crisis is over next year, it's back to business as usual, and your company says, "W…

Some people are long on covid and think it'll go on for more than a year. It's a calculated risk. They could very well be stuck in the middle of nowhere with no one wanting to hire remote workers. Or they could be ahead of the curve.

Re: Rents are dropping across the US

#304

Post by gen220 »

colinmhayes wrote: post #295
gen220 wrote: post #274

Earlier quoted context omitted.

Some things I’ve observed about families I know who seem to have suburban life figured out: - regular (meaning periodic) physical activity is essential, for the adults and kids. Sports leagues, gym classes, whatever. If you’re not into sportsy physical activity, you need a physical hobby like woodworking, gardening, or literally anything to get your blood flowing - your weekly schedule looks totally different as the…

What you've described sounds pretty suffocating to a kid. Growing up in the city my parents didn't have to force me to do a bunch of mundane bullshit, there was so much to do I was able to find cool stuff on my own.

I mean yeah, if you force your kids to do this stuff they’re going to hate it? I think you might be discounting the fact that many kids love to do these kinds of things, and also the role the kids play in deciding what to do.

The idea is to expose your kids to a wide range of activities, and support them doubling down on an evolving handful of them. Avoid setting super specific constraints (you must play a team sport), and instead try setting goals (find a physical activity you enjoy and find motivating). From my perspective, parenting is about exposing children to their options, and making some choice recommendations where you have experience.

Parents can do that anywhere, and fail to do that anywhere. I do agree that if your parents aren’t doing a good job of that in a walkable city, kids are more likely to discover those options on their own.

Re: Rents are dropping across the US

#305

Post by spamizbad »

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…

Here's the thing about suburbs and exurbs: Even if everyone loved them, the problem is few people can afford to move into them. They discourage construction of rental supply and prefer either single family homes or... higher-end condominiums. So if you want to live in these communities you need to be able and willing to buy property.

People aren't typically at this stage until they're secure in their careers and have partnered up. These days that's people well into their 30s (and maybe 40s).

The notion that a bunch of 28 year old single people making $30,000-$50,000/yr while paying down student loans are going to be rushing out to the suburbs to buy homes[1] because of COVID or "social unrest" seems unlikely.

[1] Which, incidentally, tend to be fairly large since municipalities discourage smaller "starter home" construction.

Re: Rents are dropping across the US

#306

Post by pengaru »

chrisseaton wrote: post #296
pengaru wrote: post #227

Earlier quoted context omitted.

I lived in San Mateo for a few years, right off 92 between 101 and 280 on the top of the hill. It was an ideal spot for 92/280 access. But while it was equidistant from everything of interest on a map, traffic was often so impossibly bad that everything was equally prohibitively inconvenient to reach. And forget about parking in SF after you've managed to get there, not on any busy night everyone else is out on too.…

> Maybe via Caltrain+BART@Millbrae? That wasn't easy from my place, our location was very car-optimized. Why isn’t the train a more attractive option? You’re in one of the very few areas in the US with even one train line, and you still don’t sound like you’re very keen on it. Surely the train is a fine option from San Mateo right into central SF? What’s stopping you?

Too many reasons to write here, I already said our location was very car-optimized which alone is enough for me.

Re: Rents are dropping across the US

#307

Post by asveikau »

jackcosgrove wrote: post #267
asveikau wrote: post #114

Earlier quoted context omitted.

Everyone says this, as if none of us who advocate for urban life understand having kids. I have two kids. Also, they raise plenty of kids in other countries where they haven't oriented life around suburbs. Also, this was more true in the United States before white flight, and the US raised plenty of healthy kids then. So I don't think the kid thing makes as much sense as they say. But the state of US school systems d…

Violence and distracting behavior in schools are bad. But school scores, prestige, etc. don't matter as much as most people think. Your home environment matters more than the school. High achieving magnets and wealthy suburban schools are that way because of the selection profile for students, not because the school itself is transformative.

Having exposure to high status schools in my own childhood, I agree 100% with your last sentence, that was one of the most important lessons I learned growing up, to completely ignore pedigree. I was in a well regarded school where pretty much everyone was an idiot. But they were born to successful people and most of them are now successful adults. Firm a proof as any that merit is either not the norm or completely doesn't exist.

Still, I think more of an effort should be made to improve US urban public schools. I don't know what the answer is. It's surely very complex. I am not a specialist.

Re: Rents are dropping across the US

#308

Post by whytaka »

gfxgirl wrote: post #257
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…

What is your images of "hypergentrification" My experience with any gentrification is a place with almost nothing interesting to do or see gets renewed with new restaurants, bar, venues, etc... so a place that was boring with nothing to do suddenly has new an interesting things to do. Attracting new business brings in other things too like festivals, farmers markets, etc.. That's hardly "... tends to have a sterilizi…

I think the critique is simply the homogeneity of the people; mostly in terms of temperament. People with stable jobs, working hard, doing white collar things. Having white collar interests. 401Ks, keeping up with the Joneses, what rate did you get for your mortgage as dinner conversation and all that.

It's really not as colourful as the melange of labourers and aspiring artists in multi-ethnic neighbourhoods with historical communities.

These are gross caricatures, but my impression is that's why people don't like gentrification.

Re: Rents are dropping across the US

#309

Post by cwhiz »

jjice wrote: post #104

> She and her roommate signed a lease on a two-bedroom apartment in the West Village for $4,995 a month Holy cow, I knew NY rent way expensive, but wow I didn't know it was that bad. Growing up in upstate NY, you could be a nice family ready home in my suburban home town for ~100K. Of course there were houses that went up to ~150K or even 200K, but 100K was standard for purchasing a home. I even though that that was…

I pay $2,000 less per month for a two bedroom and a parking spot, in Manhattan. So I would say that $4,995 example is on the extreme end of expensive. Not rent controlled, not rent stabilized. Upper west side.

Re: Rents are dropping across the US

#310

Post by hellisothers »

shostack wrote: post #185
doh wrote: post #123

Earlier quoted context omitted.

We just canceled our lease two weeks ago. We had a large apartment in one of the new high-rises in Downtown LA. The last offer was 3 months free and 2 parking spaces free if we stay for 12 month lease, which comes to 34% discount on the rent including parking. Other buildings are offering by default two months rent-free and they will pay the movers if you decide to move in. DTLA is a special place as it has plenty of…

I'm guessing the freebies are to avoid lowering the actual rent due to Prop 13?

The value of commercial (ie 4 or more units) rental property is calculated directly from the rent it can command and you can find yourself upside down on a loan I’d your rent dips too far. This is also why you’ll find places would rather have vacant apartments than lower rent too far.
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