Posted on 08/29/2021 10:40:20 AM PDT by bgill
Imagine what her house would have brought if the original giant new Apple HQ had picked Austin.
As an apartment owner in that area, I can tell you that the inflow of people to TX keeps demand higher than we’ve every seen it.
Also, preventing eviction keeps units from turning over... and fewer are available to rent, so higher prices.
And with the crazy home prices in that area, renting is the only option for many, which pushes rent up higher.
If she is priced out, she will need roommates or to move further out...
“This is what happens when people don’t pay their rent. Those who do pay, have to make up the difference.:”
They.Just.Don’t.Get.It. TINSTAAFL
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.
One quarter of my clients have told me to sell their properties as they are getting out.
So far not a single property has been sold to an investor.
This means that in the future you are going to be renting from a corporation, often international, who will give you NO leeway. You will need to stick to the contract terms exactly and they will be draconian. They keep lawyers on retainer to deal with any violation and one empty unit is not a problem as they have a line of people waiting to rent.
Enjoy your experience with Big Rental.
You asked for it.
This always happens where Libtard Californians metastasize ...
The same thing happened with the bubble in DC in 2005. I was departing but had I renewed my lease, the cost shot up from $1600 a month to something like $2300 a month.
That cartoon summarizes every democrat taliban voter.
I remember my last visit to san fransicko and a young woman was talking about everyone in her circle had to work several jobs to be able to afford to live there. But they loved it and it was worth it.
They don't call austin san fran east for nothing.
Had a very interesting discussion with a gent in Salina, CO about rents and housing prices in Colorado, he said you can’t afford to live in CO unless your pulling down 6 figures and buying a starter home used to be a way for young folks to build equity and credit but no more as housing prices are far beyond entry and mid level incomes.
Not just the US. Here in Canada, the real estate market is still red-hot with no signs of slowing any time soon, and over the past year, there are thousands of low-income Canadians, myself included, who have found ourselves suddenly (and rudely) shoved back out into the marketplace, when our landlords have decided to get while the getting’s good, and get max returns on their investment. Yes, I know, they have every right to do so, etc. etc. etc... So, I am not looking for sympathy. Right now, I am trying to find something that I can actually afford on my current income, and at least here in Ontario, if you want a one bedroom or bachelor unit anywhere in the province, you’d better be prepared to pay $1,500/month (or upwards) for even a rat-trap roach-motel.
At the moment, I’m afraid I simply don’t own a set of bootstraps *that* long, and those sixty days are *tick tick ticking* down.
And I know I’m far from the only one in that sort of position...
Salida, not Salina
They can also thank all of those people moving from Cali to find lower taxes, lower housing costs and lower rent. In fact, they are just making it worse.
Oh well, glad I don’t live in that shithole anymore.
Yup, plus higher property taxes and insurance as well.
Californicators have consequences.
Yup - or taken out of the rental stock altogether as well, driving up rents.
Down the street from my mother’s house in Oregon sold 200k above asking in a day. Something is going on and it ain’t pretty. All those trillions given away is going in to something real.
Perhaps a result of all those California liberals selling their homes for big $ and migrating to Texas?
I suspect that the rent is going up to pay for the people who aren’t paying at all because the landlords cannot absorb the losses forever.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.