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Inflation in Housing RENTALS is out of control!!

 
Anonymous Coward
User ID: 13864401
United States
11/27/2012 10:18 AM
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Inflation in Housing RENTALS is out of control!!
My rent has gone up more than 10% in the last few years and now it looks like it is going to keep going up!! WTF

9:28PM EST November 26. 2012 - Apartment rents will go up again next year for the fourth consecutive year as the economy improves — good news for landlords but tough on renters.

Rents for apartments — which make up about half of all rental housing — will jump 4.6% nationally next year after a 4.1% increase this year, the National Association of Realtors predicted Monday in its commercial forecast.

Rents will keep rising, more than 4% a year for 2014 and 2015, says market researcher Reis.

"The pendulum has definitely swung back in favor of landlords, not renters," says Ryan Severino, Reis senior economist.

The stronger economy and lack of new supply continue to drive apartment rents higher.

The number of apartments under construction at the end of September stood at 194,000 units across the nation's 100 largest metro areas, says MPF Research.

That's more than double the level of construction in late 2010 — when it hit a low point — but it's still low by historical standards, says MPF Vice President Greg Willett.

[link to www.usatoday.com]
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:18 AM
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Re: Inflation in Housing RENTALS is out of control!!
My rent has gone up more than 10% in the last few years and now it looks like it is going to keep going up!! WTF

9:28PM EST November 26. 2012 - Apartment rents will go up again next year for the fourth consecutive year as the economy improves — good news for landlords but tough on renters.

Rents for apartments — which make up about half of all rental housing — will jump 4.6% nationally next year after a 4.1% increase this year, the National Association of Realtors predicted Monday in its commercial forecast.

Rents will keep rising, more than 4% a year for 2014 and 2015, says market researcher Reis.

"The pendulum has definitely swung back in favor of landlords, not renters," says Ryan Severino, Reis senior economist.

The stronger economy and lack of new supply continue to drive apartment rents higher.

The number of apartments under construction at the end of September stood at 194,000 units across the nation's 100 largest metro areas, says MPF Research.

That's more than double the level of construction in late 2010 — when it hit a low point — but it's still low by historical standards, says MPF Vice President Greg Willett.

[link to www.usatoday.com]
 Quoting: Anonymous Coward 13864401


Looks like they are going to "squeeze out" the renters
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:20 AM
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Re: Inflation in Housing RENTALS is out of control!!
My rent has gone up more than 10% in the last few years and now it looks like it is going to keep going up!! WTF

9:28PM EST November 26. 2012 - Apartment rents will go up again next year for the fourth consecutive year as the economy improves — good news for landlords but tough on renters.

Rents for apartments — which make up about half of all rental housing — will jump 4.6% nationally next year after a 4.1% increase this year, the National Association of Realtors predicted Monday in its commercial forecast.

Rents will keep rising, more than 4% a year for 2014 and 2015, says market researcher Reis.

"The pendulum has definitely swung back in favor of landlords, not renters," says Ryan Severino, Reis senior economist.

The stronger economy and lack of new supply continue to drive apartment rents higher.

The number of apartments under construction at the end of September stood at 194,000 units across the nation's 100 largest metro areas, says MPF Research.

That's more than double the level of construction in late 2010 — when it hit a low point — but it's still low by historical standards, says MPF Vice President Greg Willett.

[link to www.usatoday.com]
 Quoting: Anonymous Coward 13864401


shameless bump
Anonymous Coward
User ID: 26365184
11/27/2012 10:21 AM
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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
Anonymous Coward
User ID: 28564367
United States
11/27/2012 10:24 AM
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Re: Inflation in Housing RENTALS is out of control!!
Pay in 1 ounce gold bars. Price is always the same.
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:25 AM
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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
 Quoting: Anonymous Coward 26365184


I know.. The pendulum has swung back to the homeowners... Oh well, it may be time to get a place...
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:27 AM
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Re: Inflation in Housing RENTALS is out of control!!
Pay in 1 ounce gold bars. Price is always the same.
 Quoting: Anonymous Coward 28564367


Well gold doubled from 2009 to present.. Fortunately my rent hasn't quite doubled yet.. in that same time period
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:28 AM
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Re: Inflation in Housing RENTALS is out of control!!
So go fiqure all those banks that were just letting people walk away, knew the inflation was going to start... so they let people just walk away
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:49 AM
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Re: Inflation in Housing RENTALS is out of control!!
Pay in 1 ounce gold bars. Price is always the same.
 Quoting: Anonymous Coward 28564367


Inflation is out of control
Anonymous Coward
User ID: 28151494
Canada
11/27/2012 10:54 AM
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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
 Quoting: Anonymous Coward 26365184


That's sort of the point.........isn't it?!

What's the use of taking out the mortgage, renovating, etc and then charging LESS than the mortgage as rent?????
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 10:59 AM
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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
 Quoting: Anonymous Coward 26365184


That's sort of the point.........isn't it?!

What's the use of taking out the mortgage, renovating, etc and then charging LESS than the mortgage as rent?????
 Quoting: Anonymous Coward 28151494


Well we (here in the states) get a nice tax break as well!
AlcoholicRunner
I abduct humans and drink at the same time.

User ID: 23182389
United States
11/27/2012 11:01 AM

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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 11:03 AM
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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
 Quoting: AlcoholicRunner


And the renters (like me) are trapped... Keep renting or try and get a mortgage
AlcoholicRunner
I abduct humans and drink at the same time.

User ID: 23182389
United States
11/27/2012 11:05 AM

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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
 Quoting: AlcoholicRunner


And the renters (like me) are trapped... Keep renting or try and get a mortgage
 Quoting: Anonymous Coward 13864401


Can you get a mortgage loan now? The interest rate is very low. I got 3.25%. I'm hoping to stay in that house till I die. I hate moving so much...
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 11:07 AM
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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
 Quoting: AlcoholicRunner


And the renters (like me) are trapped... Keep renting or try and get a mortgage
 Quoting: Anonymous Coward 13864401


Can you get a mortgage loan now? The interest rate is very low. I got 3.25%. I'm hoping to stay in that house till I die. I hate moving so much...
 Quoting: AlcoholicRunner


I can.. 30 year at like 3.70..
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 11:09 AM
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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
 Quoting: AlcoholicRunner


And the renters (like me) are trapped... Keep renting or try and get a mortgage
 Quoting: Anonymous Coward 13864401


Can you get a mortgage loan now? The interest rate is very low. I got 3.25%. I'm hoping to stay in that house till I die. I hate moving so much...
 Quoting: AlcoholicRunner


I can.. 30 year at like 3.70..
 Quoting: Anonymous Coward 13864401


Now I just gotta find a house
AlcoholicRunner
I abduct humans and drink at the same time.

User ID: 23182389
United States
11/27/2012 11:13 AM

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Re: Inflation in Housing RENTALS is out of control!!
...


And the renters (like me) are trapped... Keep renting or try and get a mortgage
 Quoting: Anonymous Coward 13864401


Can you get a mortgage loan now? The interest rate is very low. I got 3.25%. I'm hoping to stay in that house till I die. I hate moving so much...
 Quoting: AlcoholicRunner


I can.. 30 year at like 3.70..
 Quoting: Anonymous Coward 13864401


Now I just gotta find a house
 Quoting: Anonymous Coward 13864401


Good luck! cheers
Anonymous Coward (OP)
User ID: 13864401
United States
11/27/2012 11:15 AM
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Re: Inflation in Housing RENTALS is out of control!!
A lot of people lost their jobs and lost their houses as a result so they have crappy credit score and can't get good interest rate for the mortgage loans for a while even if they found a job later on so they have to rent apt or house...

I don't know about economy improving. It would depends on where you live. It may change a lot in 2013 or 2014 when ObamaCare fully kicks in plus possible higher income taxes and less deductions...
 Quoting: AlcoholicRunner


And the renters (like me) are trapped... Keep renting or try and get a mortgage
 Quoting: Anonymous Coward 13864401


Can you get a mortgage loan now? The interest rate is very low. I got 3.25%. I'm hoping to stay in that house till I die. I hate moving so much...
 Quoting: AlcoholicRunner


I can.. 30 year at like 3.70..
 Quoting: Anonymous Coward 13864401


I should say, I qualified 3 months ago... So hoping I can still get approved..
UnmannedAerialPilot
I put ~UAP on karma I give, good or bad

User ID: 27573455
United States
11/27/2012 11:16 AM

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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
 Quoting: Anonymous Coward 26365184


That's sort of the point.........isn't it?!

What's the use of taking out the mortgage, renovating, etc and then charging LESS than the mortgage as rent?????
 Quoting: Anonymous Coward 28151494


Well we (here in the states) get a nice tax break as well!
 Quoting: Anonymous Coward 13864401


Not for long, I just saw an article that said "mortgage deductions are on the table, for fiscal cliff talks". That's right, they are going to take every last penny from us before they pull the rug out. No mention of cutting welfare, medicaid, politician expenses, retirement, benefits...it's always the slave's back that the whip of the man comes down upon. God help us...
There is only one kind of freedom and that's individual liberty. Our lives come from our creator and our liberty comes from our creator. It has nothing to do with government granting it.
-Ron Paul

The fool hath said in his heart, There is no God. They are corrupt, they have done abominable works, there is none that doeth good.
2 The Lord looked down from heaven upon the children of men, to see if there were any that did understand, and seek God.3 They are all gone aside, they are all together become filthy: there is none that doeth good, no, not one.
-Pslam 14
Anonymous Coward
User ID: 28544505
United States
11/27/2012 11:40 AM
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Re: Inflation in Housing RENTALS is out of control!!
"as the economy improves —" LOLOLOLOL
Anonymous Coward
User ID: 25660880
United States
11/27/2012 11:54 AM
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Re: Inflation in Housing RENTALS is out of control!!
It's all about supply and demand. So many people lost thier homes that the housing market went down while the rental prices went up. Those people all have to live somewhere. It all sucks!!
Anonymous Coward
User ID: 21201441
United States
11/27/2012 11:59 AM
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Re: Inflation in Housing RENTALS is out of control!!
Here in San Diego even a crappy 2 bedroom apt averages $1200, and it can be hard to find 2 baths, then you get into even higher numbers - we have the highest gas in the nation, too
sunkissed
User ID: 26801296
United States
11/27/2012 12:14 PM
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Re: Inflation in Housing RENTALS is out of control!!
Here in San Diego even a crappy 2 bedroom apt averages $1200, and it can be hard to find 2 baths, then you get into even higher numbers - we have the highest gas in the nation, too
 Quoting: Geo777


....No sympathy from me dood...that's a small price to pay for the absolute best year round' climate in the country...!tounge
AlcoholicRunner
I abduct humans and drink at the same time.

User ID: 23182389
United States
11/27/2012 12:16 PM

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Re: Inflation in Housing RENTALS is out of control!!
OP is right the rental rates are more then a mortgage now.
 Quoting: Anonymous Coward 26365184


That's sort of the point.........isn't it?!

What's the use of taking out the mortgage, renovating, etc and then charging LESS than the mortgage as rent?????
 Quoting: Anonymous Coward 28151494


Well we (here in the states) get a nice tax break as well!
 Quoting: Anonymous Coward 13864401


Not for long, I just saw an article that said "mortgage deductions are on the table, for fiscal cliff talks". That's right, they are going to take every last penny from us before they pull the rug out. No mention of cutting welfare, medicaid, politician expenses, retirement, benefits...it's always the slave's back that the whip of the man comes down upon. God help us...
 Quoting: UnmannedAerialPilot


I thought they wanted to get rid of mortgage deduction for rich people or up to certain house value? Who knows? They really haven't come up with anything definite.

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