I read that 1000 in rent things and thought “shit,,,, if I could rent a place for 1G,,,,,, SWEET!!” Then I though, nah, wed have to watch population plummet like, well like housing last fall/winter to get anywhere near that. Damn. Then I kinda said, well, it makes a nice multiple. for every 1g in rent…….. ok that makes sense.
I know I could swing a G/month in rent, alone. And in the wonderful world of piggington, where everyone is in the top few percentages, I am a total nobody. I doubt you will ever see that again without either nucular war or 1929-30 replaying.
But I do like the multiple side of it. It makes it really easy to multiple out to specific areas.
Rents have me so confused I dont know what to think. Houses that easily rented in MM for 1750 6 months ago now get 2000. 14% in 6 months? 2/2’s could easily be found for about 1350, and now are going for 1550. Again, about 14% in six months? Where the hell did that come from? But they get it. (I am guessing gas prices are doing unnormal things with regional demand).
I lived through a rental contraction like this once before. People camping out over weekends to get the chance to rent a place. Vacancy rates somewhere below 1%. Rental offices with signs saying “TOTALLY RENTED, please do not ask about vacancy”. It was insain. I got the very last Apt in my complex because I got lucky, and was able to drop everything and drive over there and cut a 2g deposit on the spot (in JANUARY, for September move in). Not many college kids can do that. It ended about 3 years later. Apt buildings offering 9 month leases, rents falling, flyers pleading with people to come visit the very same offices that 3 years earlier couldnt be bothered. Free months of rent, or furnishing’s provided. Anything and everything. Vacancy rate was ~10% and they knew it. It was weird.
Rents have been trending higher than wages, but nothing like housing, so I have no idea what will happen. All I know is if things keep on the path they are on, someday not too far off I’ll be making Uhaul just alittle bit richer too.
