Rents for the rich are going down, rents for the poor are going up. Why?
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Rents for the rich are going down, rents for the poor are going up. Why?
1–10 of 257 posts
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#2> Rents for the poor are rising
Because of the economical impact of locking down the economy and giving money to everyone.
> Rents for the rich are plummeting
Because they don't need to live in expensive central hubs to get their high wages and there is less demand for their luxury flats.
Also, this lax definition of rich people is exactly how the richest 1% can stay hidden.
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#3> Rents for the poor are rising Because of the economical impact of locking down the economy and giving money to everyone. > Rents for the rich are plummeting Because they don't need to live in expensive central hubs to get their high wages and there is less demand for their luxury flats. Also, this lax definition of rich people is exactly how the richest 1% can stay hidden.
> get their high wages
Wages? What are you talking about, the working class?
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#4> Rents for the poor are rising Because of the economical impact of locking down the economy and giving money to everyone. > Rents for the rich are plummeting Because they don't need to live in expensive central hubs to get their high wages and there is less demand for their luxury flats. Also, this lax definition of rich people is exactly how the richest 1% can stay hidden.
> get their high wages Wages? What are you talking about, the working class?
Many rich people still earn a paycheck. YOu can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year.
My point is that a large paycheck does not mean you are not paid wages. I get your point though, billionaires probably are not taking a salary.
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#5It is a huge risk right now to take on someone that is poor as a renter because of the moratorium. It is completely unsurprising to me that landlords have priced this risk factor in.
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#6I think affordable-level housing will always be competitive, and super-luxury stuff will be white elephant stuff that's subject to compromises.
It's kind of amazing that they raised the rent. Is it because people stopped paying rent and they tried to get it from other renters?
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#7Earlier quoted context omitted.
> get their high wages Wages? What are you talking about, the working class?
Many rich people still earn a paycheck. YOu can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year. My point is that a large paycheck does not mean you are not paid wages. I get your point though, billionaires probably are not taking a salary.
>You can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year.
What is your definition of "common"? Less than 1% of people have savings of $10M at retirement age, surely more than 1% of people started investing in the 70s and 80s.
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#8Earlier quoted context omitted.
> get their high wages Wages? What are you talking about, the working class?
Many rich people still earn a paycheck. YOu can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year. My point is that a large paycheck does not mean you are not paid wages. I get your point though, billionaires probably are not taking a salary.
> YOu can be on payroll making 500k and have a stock portfolio worth 10mill
Or working on FAANGMULAT type of companies for the past many years.
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#9Because by definition rich means “can buy house”, and poor means “no choice but to rent”.
What sort of rich person rents a house, except whilst between selling old and new?
It’s a strange question to ask .... who doesn’t see this as self evident?
Re: Rents for the rich are going down, rents for the poor are going up. Why?
#10I think affordable-level housing will always be competitive, and super-luxury stuff will be white elephant stuff that's subject to compromises. It's kind of amazing that they raised the rent. Is it because people stopped paying rent and they tried to get it from other renters?
Often this is due to laws that limit annual rent increases. If landlords don't increase the rent by the allowed amount each year, it greatly increases the risk they will be unable to 'catch up' to market rates in the future.
Luxury housing is often not subject to these limitations, so landlords are forced to compete and respond to market dynamics.