Posted on 08/29/2021 10:40:20 AM PDT by bgill
she said she nearly cried when her apartment complex offered her a lease renewal for next year with a nearly 35% increase in price.
“It was up over $400 — just like that,” she said, snapping her fingers. “My income is not going up 400 dollars a month!”
KXAN Investigators have received several tips over the last month, detailing rent hikes as high as 30% and 40%. One viewer said their apartment downtown was asking for $1,200 more a month — a nearly 47% increase from last year.
Experts with the Texas Real Estate Center at the University of Texas said those instances were far above their estimate of a 9% average rent increase in Austin over the last year.
“What is unique is the circumstances that have led to those rent increases,” said executive director Mark Roberts. “Not only just the pandemic, but also the freeze.”
(Excerpt) Read more at kxan.com ...
Another article at the site states one would need 4 full time minimum wage jobs to afford the new rents.
Something happened in April. According to Zillow and Trulia, the sale prices on houses here almost doubled during April. Home prices have shot up in recent years but this is crazy. Sure, just in time for the summer market but double is double crazy.
I live north of Austin. Homes stay on the market for a day or two. My mom’s house appreciated probably $80K in the past 12 months. It’s nutz.
Well Honey, you can thank all your deadbeat neighbors who didn’t pay their rent for the last 18 months.
Begs the question, where do the renters who pay make up the difference?
Well, LW liberals have moved in and brought their Bay Area ideals with them, one of them being high rents. If you want to be a liberal, you must also pay more. And you have no one to blame but yourselves
That’s because the ChiCom biological warfare specialists are buying up U.S. real estate with dollars that will be inflated to oblivion soon.
They are seeing the effect of the inflation tax, caused by the Fed printing money.
Crying? There is no crying in rentball!
Supply and demand, and demand is up. Austin looks pretty cheap if you’re from San Francisco.
Ahhh life in the big city...
Keep Austin weird!
Wonder if landlords can check a applicants rental history for the last 18 months????
Stimulus money coming home to roost.
when you did not have to pay rent, did you save any money?
It’s not just big cities. There are small cities and small towns in Upstate NY with rents that high.
See BlackRock and VanGuard for some insight as to what happened... They are spending Billions buying up single family residences nationwide to cement thier future as the Nations Premier SlumLords.
Somebody has to pay for the freeloaders.
All the Rogan’s that have fled other states, especially California help to drive up prices and traffic in Texas. Texas is being californified in a sped up way. Musk and his tech grew are on the way to destroy south texas and central texas. Well done.
I’ve been to Austin and wouldn’t want to live there. But obviously not everyone agrees with me.
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