October 6, 2017 at 12:40 AM #22426gzzParticipant
We are still half the price of SF and way below NY/BOS/DC.October 6, 2017 at 10:52 AM #808061kev374Participant
everything is inflating, the new paradigm in keeping up with increasing costs is either being in stocks or real estate… traditional income is just not keeping up. If you aren’t in stocks or real estate you are losing ground each year.October 6, 2017 at 3:29 PM #808065FlyerInHiGuest
High rents is not good…. see the other thread about the slow economy.
but yeah, rents are up because demand is outstripping supply. That’s happening in all big cities, I believe.
Example, in Vegas the rent on a deplorable old 1 bedroom when from $450 to $650 in the space of 2 years.
In San Diego, 1/1 went from about $1200 in 2013 to $1800 today.October 6, 2017 at 8:44 PM #808072EscoguyParticipant
But there’s a point where even higher rents don’t make sense for a landlord.
If tenants are stressed, or can’t make the payments or are less careful with the property. I don’t know of any landlord who actually raises the rent by 7-8% on a good tenant.
There will always be some natural turnover which allows for the occasional catch up if the market has gone up.
Call me a softie but I’d rather have 2-3 tenants in 10 years, than 7-8 tenants in 10 years. Makes a world of difference.
Given, when a tenant doesn’t communicate well, then that’s another issue.
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