Posted on 08/03/2015 9:17:46 PM PDT by 2ndDivisionVet
New evidence surfaced last week showing that life is getting worse for America’s renters, two news reports said.
The Associated Press and Wall Street Journal did a mash-up of two economic reports demonstrating that monthly rents are rising faster than incomes.
The online real estate site Zillow.com reported that rents increased 4.3 percent in June from a year earlier in the nation as a whole (and 3 percent in Orange County).
That’s double June’s average hourly wage increase of 2 percent reflected in government data, the news outlets reported.
“Rents are insanely unaffordable on a historical basis in the United States right now,”(continued)
(Excerpt) Read more at ocregister.com ...
Well, just raise all salaries to 15 dollars an hour ... that should fix it.
Agree, raise the salaries, and then raise property taxes. That should fix it, said the politicians.
Why stop at $15? Is that the magic number? I propose raising it to $1,000/hour, that should make everyone rich, all problems solved, even the RATS will be happy and hopefully shut up. Everything is solved, no need for welfare, health insurance, food stamps, WIC, no need for any assistance at all, everyone will be happy and live a perfect life. Utopia has finally arrived.
Anybody who rents is a fool. I’ve lived below my means my entire life. Always lived rent, mortgage free bought with cash and retired young to Texas. Sure I work for myself doing HVAC in Texas but I work when I want and happily not often but when I do it pays good. Plus I do a ton of free work for those I think need it and it brings me a smile when I say don’t worry about it
“Utopia has finally arrived.”
My utopia is when every liberal in America jumps into a volcano, including the First Yeti and Klownie the Kenyan.
Response to the housing bust I’d guess. Rent here has increased 12% in one year... Not warranted either...
Where did you live while you were saving for the cash to buy your home?
A lot of owners and potential owners have been forced to be renters. Of course rents are going to go up. That attracts investors to the real estate market, who compete with potential owner occupants, which exacerbates the problem.
San Fernando valley, CA near Los Angeles.
A studio apt in my building had the rent raised to $1,025 for 350 sq ft. after a new roof was put on. I have been here so many years that the owners want people like me out so they can rent my 1 bedroom out for higher rent. I have some money in stock but I ain’t too old yet to retire but when I do it looks like another state for me. Hoping the stocks go up and up.
In my early years I worked for $1.35 (minimum wage at the time). Along came the government and jumped the minimum wage to $1.50 and everybody was happy.
Unfortunately all the local merchants upped their prices the same percentage and that made it a 0 sum gain for workers.
This 0 sum gain for workers has been going on since the minimum wage came into existence.
The whole process will be reflected with the new $15 an hour government initiative, IMHO
Exactly! I don’t want to wait a half hour for a cake to bake at 325 degrees, so I just slip it into a Chinese oven at 1400 degrees and it’s done in a jiffy.
I think I read about this from the returning vets of WWII,.. and then LBJ solved it (didn’t he?)
Bush spent under 1 trillion and I received $300 that I never asked/applied for.
Barry obama spent 16 TRILLION dollars and you all got HOW MUCH????
I own 5 rentals. I only raise the rents when a unit has been vacated and I am getting new tenants. It really does matter who your rent from.
Exactly. That's how economics works. You make them pay employees more, they raise prices to cover that cost. And the newly raised employees are no better off.
It doesn’t matter. If Captain Midnight has his way we’ll all be sitting in the dark.
“Anybody who rents is a fool”.
That’s an arrogant thing to say. You’re out of touch or were never in touch.
The Essex Skyline apartments in Santa Ana has units that start at $3000 per months. They do not have any vacancies and have had none for months now. The only views they get are of the Hutton Centre office buildings, 55 freeway, and jets landing at John Wayne airport.
http://skylineocrentals.com/index.php
Actually, I’m quite in touch. I’ve always bought my houses with cash and retired early with a nice pension. People need to be trained to save save save like the old days and but with cash.
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