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Apartment rent growth is declining, shifting the market to the tenant’s favor

wsj.com

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Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#11

Post by rcpt »

sergiotapia wrote: post #5

I wish the government would do more to control this terrible situation. If you can't afford a home with a 40 hour job, something is sick in this country. Even an apartment is beyond reach. Blackrock and Vanguard are blights on this planet.

1031 exchange

Capital gains exemption

Mortgage interest deduction

30 year fixed rate mortgages

Depreciation deduction

Opportunity zones

The list seems to go on forever. The government uses tax cuts to juice real estate investment at everyone else's expense.

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#12

Post by throwawaysleep »

pcurve wrote: post #3

https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.

Why would you live in NY without an income like that?

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#13

Post by hnburnsy »

sergiotapia wrote: post #5

I wish the government would do more to control this terrible situation. If you can't afford a home with a 40 hour job, something is sick in this country. Even an apartment is beyond reach. Blackrock and Vanguard are blights on this planet.

What is the recent hit on Vanguard I have seen going around? Aren't they mostly investing in indexs which would necessitate blindly buying stock in companies and of course they do it on a massive scale due to their size? Is Vanguard in some way encouraging companies to do evil things?

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#14

Post by wyclif »

throwawaysleep wrote: post #12
pcurve wrote: post #3

https://archive.is/y28IG I've been looking for a decent 1BR in Manhattan. For something clean and decent, the floor is $4,500. The 40x rent annual income requirement by many landlords, one needs to be making $180,000. sigh.

Why would you live in NY without an income like that?

A reasonable question. What are the non-negotiables that compel people to live in Manhattan? Is it being able to walk to noodles 24/7, or something else?

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#15

Post by rcme »

wyclif wrote: post #14
throwawaysleep wrote: post #12

Earlier quoted context omitted.

Why would you live in NY without an income like that?

A reasonable question. What are the non-negotiables that compel people to live in Manhattan? Is it being able to walk to noodles 24/7, or something else?

Being close to work is the biggest benefit. Especially for young professionals who don’t need a lot of space and are looking to grind in their careers. Also, when they’re not working, being able to have fun is a plus.

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#17

Post by mitthrowaway2 »

pcthrowaway wrote: post #7

Could someone please forward the memo to Vancouver? https://www.zumper.com/rent-research/vancouver-bc

Perhaps unlike in the US, Canadian renters are still quite far from getting the upper hand. Canadian rent gains are what you'd expect amidst rising mortgage rates and stable housing prices.

US rents slowing suggest to me that US housing prices might fall.

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#18

Post by nomel »

sergiotapia wrote: post #5

I wish the government would do more to control this terrible situation. If you can't afford a home with a 40 hour job, something is sick in this country. Even an apartment is beyond reach. Blackrock and Vanguard are blights on this planet.

> If you can't afford a home with a 40 hour job

I think this has always been the difference between a "job" and a "career". My first full time job was making pizzas. I worked 40 hours a week, dropping sauce and toppings onto squished bread. Nobody would have been able to afford a pizza if I would have been able to afford a home, in my state.

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#19

Post by sublinear »

dehrmann wrote: post #6
sergiotapia wrote: post #5

I wish the government would do more to control this terrible situation. If you can't afford a home with a 40 hour job, something is sick in this country. Even an apartment is beyond reach. Blackrock and Vanguard are blights on this planet.

> Blackrock and Vanguard are blights on this planet. Corporate landlords weren't the ones saying "you can't build here because it ruins the neighborhood's 'character.'"

So much this. It's illegal to build higher density housing in so many residential zones.

Re: Apartment rent growth is declining, shifting the market to the tenant’s favor

#20

Post by pcurve »

wyclif wrote: post #14
throwawaysleep wrote: post #12

Earlier quoted context omitted.

Why would you live in NY without an income like that?

A reasonable question. What are the non-negotiables that compel people to live in Manhattan? Is it being able to walk to noodles 24/7, or something else?

I think some of that for sure.

I can't speak for others, but for me, I actually like big cities. Watching people. Don't need to own cars to get around. Food variety. Interesting buildings. Cultural stuff.

I guess that's why people in NY pay almost 45% of their after tax income towards housing related expenses, which is the highest in the U.S.

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