Rents are plunging in the most expensive U.S. markets
businessinsider.com
Rents are plunging in the most expensive U.S. markets
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Re: Rents are plunging in the most expensive U.S. markets
#2Not LA though!
Re: Rents are plunging in the most expensive U.S. markets
#3Can this please be re-titled as a US study? First blush of the article title made me go "What? Seriously?"; the two markets I look at first are London and Sydney.
Re: Rents are plunging in the most expensive U.S. markets
#4Clicked on that list hoping to see good news in Seattle... turns out we're up more than any other city in the top 10. Sigh. There actually is a decent amount of housing construction in progress but it seems like it's not nearly enough.
Re: Rents are plunging in the most expensive U.S. markets
#5The past 2 years for me have been about the enormous exposure of how rent has been going up and house affordability has become a real problem world-wide.
As legislation started to get promoted in different countries (Vancouver's foreign tax, Berlin's Airbnb ban, Argentina rent-caps) I always thought that the origin of this entire problem is the low rates for lending, and that these laws would only be a hinderance to recovery.
This is still early to take for granted, but my suspicion is getting more likely. I feel sympathy for the people that told me that houses are the safest investment, and that renting is always worse than buying.
Re: Rents are plunging in the most expensive U.S. markets
#6adblocked. bye!
Re: Rents are plunging in the most expensive U.S. markets
#7A friend used to rent out a spare room in SF on a regular basis. Two years ago, he could get $1850 for a single room with it's own bath room, furnished. We're talking 6-10 replies from a Craiglist post within 24 hours. Stopped renting it out about a year ago.
He just posted it again. Zero takers at $1850. Finally got someone for $1600 (-13% decrease in rent) after a month. A dramatic change.
The rental market in SF is definitely turning towards the buyer.
Re: Rents are plunging in the most expensive U.S. markets
#8A friend used to rent out a spare room in SF on a regular basis. Two years ago, he could get $1850 for a single room with it's own bath room, furnished. We're talking 6-10 replies from a Craiglist post within 24 hours. Stopped renting it out about a year ago. He just posted it again. Zero takers at $1850. Finally got someone for $1600 (-13% decrease in rent) after a month. A dramatic change. The rental market in SF i…
>The rental market in SF is definitely turning towards the buyer.
Am I misunderstanding something? If rents are going down (like you suggest in your story) wouldn't that mean that the rental market in SF is turning toward the renter?
Edit: Thanks for the clarification. Terminology can be confusing since there can be buyers/sellers for the renting homes market and buyers/sellers for the buying homes market.
Re: Rents are plunging in the most expensive U.S. markets
#9Apartments have been the last frontier of expensive mass-produced products. Hopefully this is the end, and not just a temporary blip.
Re: Rents are plunging in the most expensive U.S. markets
#10A friend used to rent out a spare room in SF on a regular basis. Two years ago, he could get $1850 for a single room with it's own bath room, furnished. We're talking 6-10 replies from a Craiglist post within 24 hours. Stopped renting it out about a year ago. He just posted it again. Zero takers at $1850. Finally got someone for $1600 (-13% decrease in rent) after a month. A dramatic change. The rental market in SF i…
>The rental market in SF is definitely turning towards the buyer. Am I misunderstanding something? If rents are going down (like you suggest in your story) wouldn't that mean that the rental market in SF is turning toward the renter? Edit: Thanks for the clarification. Terminology can be confusing since there can be buyers/sellers for the renting homes market and buyers/sellers for the buying homes market.
He's classifying the landlord and renter in this transaction as seller and buyer (of the lease), respectively.