What happens when the rent is unaffordable EVERYWHERE?

[Who Not How]

Just saw an article saying the average rent in America for a 1 bedroom is now almost $2000.

If you only suppose to spend 30% of your monthly salary on rent, you gotta make over $6000 to qualify.

America going down the tubes.

 

[Spectre]

Yea but this is part of the reason why cost of living is rising in these cheaper places. Why can’t the people that level up just own property where they are at?

Also Boston real estate has much more value than a lot of cheaper states so from a wealth perspective not only are you buying in a market you can afford but also investing in more valuable real estate

The real estate is valuable because it's a biotech hub that's surprisingly still developing

So cost of ownership is a big barrier. COL in cheaper states is gonna rise regardless. Black professionals might as well take advantage.

If Boston had more black people like ATL or Texas, I could see myself staying longer but I miss suburbs like LI with beaches nearby and less traffic

 

[Vandelay]

To answer the thread title, if nobody can afford the prices, people won't rent and the rents should go down untill they do. That's the theory, in reality it'll propably take an insane amount of homelessness for it to actually turn out that way

I'd like to think this, but this would involve the government converting for profit properties to government-funded enclaves. Essentially, mass section 8 housing. Which a large part of the population would revolt because that's "socialism".

I think the more likelier scenario is companies start buying housing for their employees. Dormitories for the lower end workers, duplexes or single family homes for middle management. Executives will probably still be able to afford housing.

What I find strange about my scenario is, if you're familiar with horseshoe theory, on the ends of the political spectrums; in this case capitalism and socialism; they start to resemble each other.

 

[Spectre]

I am guessing you live in Revere by Wonderland station?

Who wants to know lol Where u live?

Yea I’m right by Beachmont so 1 stop away from Wonderland.

Just walked down the beach yesterday and saw new restaurants and bars pop up between the new development rises.

If I could own a condo here I’d be eating for years. Flip that to own another one, my kids gonna be good

 

[Vandelay]

Nah bruh
I don't what happened then, I care about now

People only riot when their life is upended enough to make a physical change. I think the only reasons people rioted for George Floyd and ironically January 6th, is because of Covid. Affordable housing believe it or not isn't that game-changer yet, because capitalism has been finding a way to cannibalize the system just enough that society is placated. Renting in perpetuity, roommates, communal living, living in rougher or run down areas, living in the far suburbs, tiny houses, living in your fukking car, has supplanted all of the rioting that probably would've happened 120 years ago. Not so much now.

 

[Mindfield333]

People used to move south and take advantage of the lower cost of living. These days it’s getting expensive in the south too. Saw a 3 bedroom for like $1100 the other day.

I saw a one bedroom in my hometown for 1100. Ain’t alot of job there so I’m confused lol

 

[Bryan Danielson]

nikkas would kill for a 3 bedroom for 1100 in Charlotte

Yea I was about to say….. that’s pretty much low to average. Hell I paid around thar decade ago in Gboro.

I been hearing 3 bdrms been something like $1400-$2300

 

[Mega]

Who wants to know lol Where u live?

Yea I’m right by Beachmont so 1 stop away from Wonderland.

Just walked down the beach yesterday and saw new restaurants and bars pop up between the new development rises.

If I could own a condo here I’d be eating for years. Flip that to own another one, my kids gonna be good

I am from Roxbury/Mattapan. I use to mess a chick that lived on Lynn Shore Drive. Loved hanging out at the beaches around that whole area during the summer.

 

[NotAnFBIagent]

Brehs in here saying $1100 is cheap are reinforcing OPs point about housing costs

 

[ADK]

Yea I was about to say….. that’s pretty much low to average. Hell I paid around thar decade ago in Gboro.

I been hearing 3 bdrms been something like $1400-$2300

More like 1900-3000

 

[Bryan Danielson]

More like 1900-3000

Man that’s why I’m soooo anxious to one day rent my house out.


I’m gonna hit niccas in the head like a sniper!!

 

[MJ Truth]

People used to move south and take advantage of the lower cost of living. These days it’s getting expensive in the south too. Saw a 3 bedroom for like $1100 the other day.

A three bedroom for $1100?? Where is this???? I’ll move there tomorrow lol.

 

[Who Not How]

A three bedroom for $1100?? Where is this???? I’ll move there tomorrow lol.

Town gotta only have $10/hour jobs lmao. You gonna have 2 roommates in that 3 bedroom apartment.

 

[Spectre]

Town gotta only have $10/hour jobs lmao. You gonna have 2 roommates in that 3 bedroom apartment.

This makes sense.

If the COL is cheap it's usually because there's not a lot of high paying jobs there

Went on a ski trip in NH with group of friends. Bought mad groceries for the weekend. Barely cracked 200.

We all thought about moving there till we saw what the job market looked like out there. Meh

 

[Who Not How]

This makes sense.

If the COL is cheap it's usually because there's not a lot of high paying jobs there

Went on a ski trip in NH with group of friends. Bought mad groceries for the weekend. Barely cracked 200.

We all thought about moving there till we saw what the job market looked like out there. Meh

Yeah you not making 80K a year in a town with 3 bedroom apartments for $1100. Only way to do that is work remotely and live in a cheap town but do you really wanna live in a town where most people make less than half of what you make. People usually wanna live around people in the same tax bracket. Not to mention that apartment probably outdated in a sketchy area.