What happens when the rent is unaffordable EVERYWHERE?

mannyrs13

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They would find new areas to live or become expats. Private owner landlords may start lowering their rent to at least make a profit, but large corporations may still be ok with charging high rent. There would always be a demand for housing. Just so happens that some spots are in now demand than others. I can't speak for the entire country but Florida for example. The major cities already have ridiculously high rent and home prices. Now it's starting to affect the smaller cities and then the smaller towns. People gonna move to those small towns especially if they can get much cheaper prices and have enough people coming in to make the town grow. The government doesn't want a bunch of people out on the streets. Would be dangerous for them.
 

jerzboy

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LA... you’re paying at the minimum $1800 for a studio. This is a building with probably window AC, no doorman, no amenities and would be in the valley... and this would be a deal, where the homelessness isn’t too crazy... Americans got to put their foot down, but....
 

Spectre

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$1100 is amazing damn near a robbery for a 1 bed apt.

My spot is just under 2 racks for a 1 bd condo near Boston

It's renovated and next to the beach tho with public transit into the city close by.

Honestly leveling up in your city to settle down in a cheaper state is the move for young black professionals at this point
 

Red

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Welcome to inflation, where the goal is to stave off hyperinflation. They keep increasing interest rates around the world to try and curb spending and encourage saving but :beli:

Can't keep printing dollars like toilet paper and not expect any consequences.

The dollar is at risk of dying and the world getting closer to decoupling from the petrodollar.

It's going to get worse, imo.
 

Spence

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Our tenant just moved in yesterday on a 2 year lease for $1700 per month, 3bd/2.5 bath in an area that is on a gentrification rebound of sorts. We can get more rent after it’s up in 2024.
 
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