Rents increased by more than 50% in some US cities

01-02-2022, 09:30 PM

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#61

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every day that passes makes me more confident in my decision to buy a new house last year

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01-02-2022, 09:33 PM

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#62

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My 30 year fixed rate mortgages are the best hedges against inflation I could ever come across.

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Lol at lower middle class people. Enjoy working to retirement age and worrying about whether or not your pay raise will even cover your rent increase.

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01-03-2022, 12:36 AM

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#63

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01-03-2022, 12:42 AM

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#64

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Tfw my mortgage payment hasn’t gone up and never will.

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01-03-2022, 01:54 AM

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#65

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Just sold my house and moving to another city. Decided to rent because housing prices have doubled over the last 5 years in the little city that I'm moving to. Seems like the bubble of 2007 and I don't want to buy at the very top. We shall see.

01-03-2022, 01:59 AM

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#66

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fake news

throw enough chit it sticks opie?

nice try buddie

01-03-2022, 02:13 AM

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#67

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Originally Posted By notthis⏩

Just sold my house and moving to another city. Decided to rent because housing prices have doubled over the last 5 years in the little city that I'm moving to. Seems like the bubble of 2007 and I don't want to buy at the very top. We shall see.

That’s a legit reason to rent. Are you going to buy when the market settles down?

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01-03-2022, 02:23 AM

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#68

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Originally Posted By snailsrus⏩

That’s a legit reason to rent. Are you going to buy when the market settles down?

That's the plan.

The houses that I looked at just seemed way over priced. One house sold for 170k just 5 years ago and now they want 435k.

01-03-2022, 02:26 AM

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#69

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01-03-2022, 02:33 AM

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#70

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Originally Posted By notthis⏩

That's the plan.

The houses that I looked at just seemed way over priced. One house sold for 170k just 5 years ago and now they want 435k.

ya that’s how northern Nevada is right now. I wouldn’t buy here but I am looking at vacation rental in states where property prices aren’t as inflated

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01-03-2022, 02:50 AM

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#71

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2022 of to a great start?

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01-03-2022, 03:48 AM

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#72

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Originally Posted By conics⏩

2022 of to a great start?

First day of the new year, first day of the month boyo

Get after that skrilla

01-03-2022, 06:06 AM

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#73

donblaximus
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Originally Posted By r32gojirra⏩

It’s basically free money?

I’m still not getting the math though

Renting is better financial sense because you take the money you saved by renting (compared to a mortgage) and invest it to get higher returns in the share market

Explain to me why I can’t make the numbers add up

Im not 100% sure I am following you on this one. Perhaps you are being sarcastic and I am not catching it over the interwebz

Free money? Home valuations are going up thus also my tax assessments are going up. Some of it is extra cash flow for me yes, but that is ROI on my property is how I look at it.

01-03-2022, 06:09 AM

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#74

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Originally Posted By SaviorSelfJT⏩

At least in the cities I know of here in the US

Renting a single bedroom apartment costs more than a mortgage on a single family home, ded srs

You can buy a condo or a townhome and the mortgage plus HOA will be way less than equivalent rent

You do forego the opportunity cost of the down payment, but that’s not much of a difference

There are many factors involved to make it black and white.
Does that mortgage payment include insurance and taxes.
Are we talking about exact/equivalent properties?
maintenance cost probably not factored in.

If someone is short term, renting is probably a better bet. If you are looking long term, then in general the numbers work out that you should probably buy.

01-03-2022, 06:15 AM

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#75

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Originally Posted By rectifryer⏩

most purchases aren't from renters.....

2 of my renters in Austin are practically begging me to buy the properties. I tell them "give me an offer I cant refuse and its yours"
Then they try to give me an offer that is a deal for them........LOL

Renters in my other cities just quietly pay year after year. All is good on both sides I guess

01-03-2022, 06:58 AM

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#76

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My home value has gone up at least 50% as well.

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01-03-2022, 07:02 AM

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#77

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Originally Posted By benedetto27⏩

Feels good man, locked in at low rent back in the spring when Landlord leeches were defaulting all over and rent went down by $600/month.

Now they can only increase it one me at 1.5% per year and eviction is virtually impossible if you're a good tenant.

Sure hope they don't raise interest rates lmao.

I have bad news. This basically means they'll be sending you a letter of non-renewal.
Srs, that's whats happening all over the place. My last complex was emptied out and restocked with fresh foreigners.

01-03-2022, 07:03 AM

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#78

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Originally Posted By chaunce54⏩

My home value has gone up at least 50% as well.

How much are you raising the rent?

Originally Posted By FrostF⏩

I have bad news. This basically means they'll be sending you a letter of non-renewal.
Srs, that's whats happening all over the place. My last complex was emptied out and restocked with fresh foreigners.

Lmao rekt

01-03-2022, 07:04 AM

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#79

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Originally Posted By r32gojirra⏩

How much are you raising the rent?

Will have to see what the market bears when the current lease is up.

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01-03-2022, 07:14 AM

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#80

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Originally Posted By GeezersPalace⏩

Homes being built are of poor quality and designed to be knocked down in 10 years. There is no doubt these homes are such garbage especially in that southern corridor there is a def an underground business agreement between stakeholders in that homes are only to last 10 or so years. Many people I know have picked up on this, as example my mate bought a home in Houston, that was only 3 years old and was sinking, when the engineer did the assessment so his offer was withdrawn, you won't see this in Aus.

There is some truth to this, but it isn't a new issue. I think maybe Japan is the only first world country with construction standards lower than the US.

Originally Posted By notthis⏩

Just sold my house and moving to another city. Decided to rent because housing prices have doubled over the last 5 years in the little city that I'm moving to. Seems like the bubble of 2007 and I don't want to buy at the very top. We shall see.

Renting in a new city is usually the right call. Gives you a chance to get a real feel for the area and where you want to be located. We rented for a year first in MI and I was totally happy with the location of the house we bought there.

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01-03-2022, 09:03 AM

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#81

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Originally Posted By adamsz⏩

every day that passes makes me more confident in my decision to buy a new house last year

We had definite buyers remorse because we went just above our price range to buy in the Seattle burbs. 4br house that was less than 20 years old and besides one thing we got the sellers to fix for about 20k it was in good shape. 3 years later our house is up something like 40% so yeah quite happy now. The people fleeing the city for the suburbs have jacked up our houses value and it's fantastic. Want to sell and leave because this county is nuts but tempted to hold on to the house just for the appreciation. Then again this state has ridiculous tenant laws so not sure I want to deal with that. "oh no bad flu season. No rent due for anyone for the next 6 months."