Live data from Hacker News

Rents are dropping across the US

edition.cnn.com

181–190 of 400 posts

Re: Rents are dropping across the US

#181

Earlier quoted context omitted.

I'm aware. Renewables and electric cars are on a tear. Don't force density when you can use technology instead to lower your impact. It's clear the city is too expensive for many, and folks are going to filter out of urban cores until a density equilibrium is reached. Do you care if I live in the middle of nowhere in the mountains if all of my power is clean solar, our cars are electric, I work from home, and pay for…

We don’t have enough lithium on the planet for everybody to have their own electric car. Just because something is on paper sustainable, doesn’t make it actually sustainable.

[deleted]

Re: Rents are dropping across the US

#182

Earlier quoted context omitted.

Kids change mindset. Kids love yards. They love the little creek that runs past. I love the safety. Small neighborhood, we all know each other and look out for the kids that run around playing.

I bought into this mindset, and regret it. That's what you do when you have kids, move to the 'burbs, right? We moved from a big city to suburban hell a few years after having a kid. In those first years, we took our kid to museums, parks, playgrounds, etc. all over the city. Now there is jack shit to do in the suburb we're in except going to the mall, cannot walk anywhere, have to use the car 100% of the time to eve…

Suburbs suck, mind-numbing pits, I don't know why people with families love them. I think they all secretly hate them, it's just that they want you to share their misery by convincing you to move.

Re: Rents are dropping across the US

#183

Earlier quoted context omitted.

Kids change mindset. Kids love yards. They love the little creek that runs past. I love the safety. Small neighborhood, we all know each other and look out for the kids that run around playing.

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…

The big difference is in other countries schools are not as bad as they are in cities in the US. Not a lot of countries have this huge divide of urban vs suburban culture. In America, you move to the suburbs to die.

Re: Rents are dropping across the US

#184

Earlier quoted context omitted.

It's not just "big" cities, it's all cities at least according to this source [1]. I grew up in RI but I moved to Seattle after graduating college because I didn't want to live in RI anymore but job prospects for tech increase when you're in a city. I wonder what the cycle to expensive rents is? Wages from jobs start to increase in an area, some housing development happens, rents go up on those new developments to co…

> Wages from jobs start to increase in an area, some housing development happens, rents go up on those new developments to cover costs but also because their renters can afford it, repeat? The increased wages (more jobs + better jobs) leads directly to both new housing development AND increased demand for whatever housing currently exists. The latter is more impactful for higher prices than the former. > but also bec…

>>> I can afford to buy milk that costs 10x as it does right now, but I wouldn't actually pay that because I have no reason to when cheap milk still exists.

You can afford to not drink milk but you can't afford to not have a roof over your head.

Becoming homeless is not an option so people get pushed to living in older smaller flat away from the city or sharing with strangers.

Re: Rents are dropping across the US

#185
post #123

If I were a renter right now and in an urban area with a lease renewal coming due, I'd 1000% call the mgmt co's bluff. Context: my firm provides back office services to 50k+ rental units across the nation and unless you're in some oddly hot market, most mgmt companies currently are holding their breath that their renters don't say anything and renew at the same price. If you're reasonable, you can easily negotiate a…

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?

Re: Rents are dropping across the US

#186
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?

Re: Rents are dropping across the US

#187

A lot of engineers in my group as well as a few friends are leaving the SF bay area. Now that working there is no longer a requirement and everything is shut down, why live there? Oregon, Nevada, Colo, (cheaper areas of CA), all are places that they are heading to. Main reasons are cost, crowds(lack thereof) and overall better quality of life. Expect this trend to accelerate once more leases end.

There are a lot of reasons the Bay remains a desirable place to live outside career-related reasons.

Weather, culture, friends/family for some, etc.

Re: Rents are dropping across the US

#188

>At the end of May, Ilana Freund landed a deal on an apartment in New York City where she will be attending graduate school. She and her roommate signed a lease on a two-bedroom apartment in the West Village for $4,995 a month. It was a significant discount: Similar apartments in the building were going for around $5,300 before the pandemic took hold, according to the listing agent. wow a whole 6% reduction. Odds are…

it's primarily a big deal because this is the end of YOY increases that lasted for more than five years

Re: Rents are dropping across the US

#189

Earlier quoted context omitted.

I bought into this mindset, and regret it. That's what you do when you have kids, move to the 'burbs, right? We moved from a big city to suburban hell a few years after having a kid. In those first years, we took our kid to museums, parks, playgrounds, etc. all over the city. Now there is jack shit to do in the suburb we're in except going to the mall, cannot walk anywhere, have to use the car 100% of the time to eve…

Suburbs suck, mind-numbing pits, I don't know why people with families love them. I think they all secretly hate them, it's just that they want you to share their misery by convincing you to move.

I'd point out that there are plenty of areas that are neither urban or classic suburbia. But I'm guessing you don't like more rural areas either.

Re: Rents are dropping across the US

#190
post #36

Earlier quoted context omitted.

Can you expand the acronym HENRYs? Urban dictionary didn't come up with anything for me.

"High earners, not rich yet (HENRYs) are individuals who currently have significant discretionary income and a strong chance of being wealthy in the future." The previous (somewhat derogatory) term was "Yuppie" ("young urban professional" or "young, upwardly-mobile professional") [1]. [1] https://en.wikipedia.org/wiki/Yuppie

I always liked DINK: Double income, no kids.
Post reply on HN