My rent just went up 8%....to $915 for a 1BR

[lamont614]

592 Ohio tho

 

[Phoenix_Knightly23]

I about to pay 830 for a 3 bedroom spot in a "luxury apartment" in NC...

 

[VladTheImpaler]

Man fukk this shyt. I'm not paying the 5.....

915 for a 1Br...sheesh where do you live...you can barely get a decent efficiency apartment for that paltry amount where I am...and that would be in a very very average part of town

 

[newworldafro]

What city?

Houston.

 

[Reginald Noble]

Damn even in NYC the max increase usually like 4-5%.

 

[Adidacs]

studios where i'm at are $1,500+
1 bedrooms $2,200 at the very least

 

[West Coast Avenger]

LOL @ someone from GA complaining about rent. .......it's cheap as fukk to live out there...

 

[beaniemac]

These dudes on the coasts LOST, they're paying out the ass every month to live in shytboxes. $1k/month to live in a closet?
Chicago really is the best bang for your buck big city, even if you're going to piss away money on rent, which is dumb in the first place.

yup. my mortgage is only $1600 and I have 4BR (not including one in the basement) in basically a new crib with a garage. and I am 5 minutes walking distance from the train and 1 minute drive from the closest expressway to get downtown if I want.

 

[unit321]

What is a "fixed" mortgage per se? is that where your payments never rise and stuff like that.

It's a fixed-rate interest mortgage. Your interest does not change through the life of the mortgage. This is great if interest increases, your rate doesn't go up.
If you have an ARM, adjustable rate mortgage, you can benefit when the interest rate is low or goes down, but you get boned if the interest rate is high. ARM is usually lower interest rate than a fixed-rate mortgage, but that's a gamble though. There's usually a cap (maximum interest rate), so your interest rate doesn't balloon to insanity mode. But the cap rate is always higher than a fixed rate mortgage interest rate.

 

[tru_m.a.c]

It's a fixed-rate interest mortgage. Your interest does not change through the life of the mortgage. This is great if interest increases, your rate doesn't go up.
If you have an ARM, adjustable rate mortgage, you can benefit when the interest rate is low or goes down, but you get boned if the interest rate is high. ARM is usually lower interest rate than a fixed-rate mortgage, but that's a gamble though. There's usually a cap (maximum interest rate), so your interest rate doesn't balloon to insanity mode. But the cap rate is always higher than a fixed rate mortgage interest rate.

And those with the ARM were the folks that got absolutely fukked with no vaseline during the recession

 

[BlackEfron]

i pay $0 or rent

MOm & Dad roomates >>>>




- blackieorbinson

 

[Black Magisterialness]

Might as well move to a more happening area with hipsters and shyt...at least you'll have more to do for that money...

 

[Black Magisterialness]

And those with the ARM were the folks that got absolutely fukked with no vaseline during the recession

exactly because ARM didn't change when your house was worth a fraction of what it was and your ass just got laied off.

 

[Jplaya2023]

I pay around 1850 for a 1bedroom

You live in NYC?

 

[beaniemac]

It's a fixed-rate interest mortgage. Your interest does not change through the life of the mortgage. This is great if interest increases, your rate doesn't go up.
If you have an ARM, adjustable rate mortgage, you can benefit when the interest rate is low or goes down, but you get boned if the interest rate is high. ARM is usually lower interest rate than a fixed-rate mortgage, but that's a gamble though. There's usually a cap (maximum interest rate), so your interest rate doesn't balloon to insanity mode. But the cap rate is always higher than a fixed rate mortgage interest rate.

this is true for the most part. but even if the rate stays fixed, of your property taxes or insurance increase, then your mortgage payment can increase that way. for instance, we had a property tax increase this year, and I'm looking at about $20 a month more in payment.

And those with the ARM were the folks that got absolutely fukked with no vaseline during the recession

I have had an adjustable rate mortgage before, and they notify you when the rate is gonna change. I just refinanced it into a fixed rate loan. it was fairly simple to get done.