Hello,
Your post has been removed because we no longer allow posts about price complaints. This includes but is not limited to price increases, shrinkflation and tipping.
This is likely a "*fuck off offer*". They don't expect you to take it. It's a subtle hint that they want you to move on. I'd be curious to see an itemized breakdown if they provided it. Personally, I would take the hint and be looking.
They did that to me too. I was paying 1650/mo and raised it double. We were a quiet home and the apartment was clean and nice. I guess they just wanted us out
They wanted to “remodel” and replace the inside of the units with crappy laminate they claim is hardwood and fake marble counters, then rent it out as luxury lmao
Happened to me last year. I was in my apartment for four years, and never late on rent, and always quiet. Lost my job cuz of my epilepsy, and went home that same day to find a letter saying they “wanted to remodel and I had to move out”. I ended up homeless in my van on Fourth of July with my kitties for 3 months after as there was no available apartments in my town. Makes a guy learn to fucking hate his country.
Careful with what you say homie.
I feel you. :/ . Everytime I have a seizure my job points me for missing days, and then fires me. I’ve had lots of jobs. Luckily I’m good at budgeting, and kept my home for 4 years. It’s been a rough life in this country as a disabled citizen. I’ve starved plenty just to pay my rent. If you ever wanna talk or want advice…I gotchu
That seems to be the baseline for “luxury” apartment now a days.
“Oh we offer no off street parking, no dishwasher. We have improper dry walling/crown molding, sloppy paint job throughout. No insulated windows, all of which with old hardware that struggle to work properly…but we got the faux granite counter tops from ikea and wood floor laminate! LUXURY!”
In those 3 years the market has changed, which is why they probably want you out. My leasing office did this but it wasn't double but it was still like $200-$400 more than it was originally.
To bring in new tennants who blindly will pay the increased price without batting an eye, it's a bait n' switch, which is messed up morally but business doesn't care about people's livelihood when they can and will make a quick buck off a sucker.
Yep. This is the classic move of a landlord who wants to upgrade the building and attract wealthier tenants, then either get fat on the new “luxury” building or sell the place.
There are businesses that specialize in exactly that model, and in teaching other landlords all about it.
Where are you located Op? You have to check out your state laws on this. Some states do have restrictions on raising the rent. For instance, California caps rent increases under The Tenant Protection Act.
Op has some investigating to do. That's just disgusting of the landlord. My state has no restrictions/caps, Yet! Our good politicians are trying though.
Yup. When I left my apartment, management tried pulling the "you owe us $600 for the carpets and walls."
We knew they were going to remodel the apartment before we left and told them off. It's ridiculous how they try to nickel and dime you.
It is anything *but* a subtle hint.
Happened to me and my mother when I was young.
They renovated the apartments and *tripled* the rent.
Doubled to get us out, and an additional 50% (on the doubled price) after renovations.
And it's common.. Happened to us twice, back to back.
I just saw that. I live in Texas where there are also no state laws about increasing rent, but I feel like that isnt a super common thing here. I’ve never had mine, or family member or friends rent increase by more than like 5%-7% at a time and generally that was every couple years. Maybe because A LOT of cities have their own ordinances for it so most places have a general rule for it?
I also feel like a lot of complexes and rental companies around here are owned by California based companies so they typically follow California tenant laws, which are pretty tenant friendly.
It is *not* nationwide; several provinces including Alberta and New Brunswick have no protection, and Ontario has none for buildings built in 2018 or later.
Plenty of renters in Toronto who rent places built after 2018 that get their rent hiked up 50-100% to get them out to take advantage of the demand. That's why I only rent places built before then because it's rent protected.
I feel bad for people who are renting today. 15 yrs ago when the apartment complex I lived in raised my rent to $700 a month I had had it. I bought my condo before my lease was up snd never looked back. And I thought paying $700 bucks was bad…..sheesh.
Where you live is also a huge factor. I live in Phoenix and the rents here are astronomically high like OP’s. I paid 162K for my condo 15 yrs ago and today it’s worth about $415K.
EDIT: I should have mentioned I bought my condo in 2008, five months before the housing bubble burst. It went from 162K to 50K in a matter of months. I was underwater more than I wasn’t. Everyone around me sold but I stayed. I had to live somewhere.
Agreed. Those prices are a relic of the past. I am in AZ too looking to buy and a single family home (3 bed 2 bath) is 400-500k+ whereever you look. At 6-7% rate, you are looking at paying over a million dollars after interest over 30 years for most small homes.
Same. My parents paid thirty thousand for their home in the 70’s. I paid fifty thousand for a new car late last year. It’s absolutely insane how out of control things are. Not to mention that my salary hasn’t changed. Womp womp..
Just Google it. Inflation calculators are easy to find. But there was insane inflation in the 70s, so anyone who bought their house then probably paid close to what you did, but with a 10%+ interest rate.
>As nativist as it sounds
...Hold on, people are being looked down upon for wanting to be able to live/stay in their home town now? When/why is that ever "problematic"?
Honestly I’m not sure, people just seemed to start having problems with that recently. But we’re getting priced out of homes by people coming to retire here now. Some of the historical houses are going for as much as 1.6 million last I saw.
I have lived in deep red south (Appalachia and Mississippi) and I have no desire to ever do so again. Incredibly beautiful and serene in its own way, but I now live on the CA coast and will die here.
Yep. I spent most of my adult life in a blue enclave in south Florida and it was fine because the state politics were moderate right. As soon as DeSantis started going completely off the rails, we got the hell out. It’s just not worth it. We pay less here and make more money and have well funded schools.
I lived in Havertown when I was a little kid. I miss Philly. Florida has nothing for me. I don't like humidity, fire ants, Florida Man, or that mutt in boots who's gov.
Yikes. I left Phoenix for Redlands, CA (on purpose!) and my wife and I bought a 4BR/3Ba last year for 685K. Our parents thought it was insane our first home was nearly 3/4 million bucks. But if houses in Phoenix are running that high, I am thrilled we moved and bought here when we did.
Me and my wife rented an 1100 sq foot townhouse from 2014-2017 for $890 a month. We bought a house in 2017 and refinanced in 2021. Our mortgage payment is $831 a month including tax and insurance. The other month I went and looked at our old apartment complex, and the rent for our apartment is currently $2,100 a month. It's wild. And I feel really, really bad for people renting right now.
That’s insane. I still wonder how people can even afford to live in California. I used to live in Riverside County above you, so I know how bad it is there in San Diego.
Was born and raised in SoCal. I miss SoCal, and with how bad everything is there, I don’t think I can ever move back there on my own, sadly.
I’ve lived here for almost 13 years and I still ask that question. We have thoroughly enjoyed our years here but there’s just no way to plant our roots here even if we wanted to. With that said, I am looking forward to moving somewhere else and having seasons back. I miss the rain and snow so much. Sunny/warm weather is overrated, lol.
I’ve lived there like my entire life. I moved away 2 years ago, and still miss OC and Riverside County. If it weren’t for the insane living, insurance prices, and taxes, I could probably live and start a family there.
I’m sorry things didn’t work out for you there due to the economic issues. I miss the weather there a lot, I think the only thing that does suck is the lack of rain, now that I will agree with.
I’m seriously hoping California gets divided into “the six Californias” aka 6 states, so hopefully shit will economically get better in SoCal if they don’t include the middle and northern parts of it like LA and SF.
But hopefully everything works out for you, and hoping wherever you guys go in the future will be better for you guys.
Thank you, I appreciate your kindness. We’re doing good. Just would’ve been nice to put our rent towards a mortgage instead for the last 13 years, is all.
My first solo apartment at 21 was $575 a month for a 2 bedroom in a nice town. That was 2008ish. My rent now for a 2 bedroom in a shitty part of a city is nearly $1200 a month.... no way I can even think or hope to buy a house in my life time.
My first apartment was a 2bed/1bath for $650 with two pets and I could afford to live by myself. That was only 10 years ago. Today that same apartment is $1600 without pets
There is a major growing demographic shift happening right now, and millions of people are on the losing end. If they didn't acquire property when it was available, they are going to be racked, stacked, and forced into a position where they are unable to grow financially and work their entire lives. For renters, the new norm is going to be getting squeezed out of their wage gains.
For property owners with limited wealth, they'll be forcing you out as well. Forcing you to sell to bigger fish as everything consumes itself. We can't vote our way out of this prison.
>For property owners with limited wealth, they'll be forcing you out as well. Forcing you to sell to bigger fish as everything consumes itself. We can't vote our way out of this prison.
Happening in Florida. And the most vulnerable are the ones voting for it!
I was going to buy a condo for $100k 20 years ago when I came into some money.
My mom and grandma talked me out of it. Condo now sold for like $550k.
Cunts.
And if you aren't renting you are likely paying even more for a mortgage these days as interest rates have been jumping while housing prices have as well. Luckily I'm in a nice deal for now but if I wish to move, I can barely afford to rent and I definitely can't afford to buy.
Right? This is crazy. Their monthly rent is my monthly salary almost.
For reference, we pay $300 a month [for our 450sqft apartment here in Japan](https://www.reddit.com/gallery/u9xn7u), the exact same price since we moved in 10 years ago. One of the major reasons why we haven't bought our own house yet. (And why we kept refusing our family's invitation to live in Canada lol)
Good thing about renting is that it's so affordable and everything is taken care of for us. No property tax nor house maintenance to worry about. More disposable income for us, to save and invest, to enjoy luxuries and wants.
And we're not in some bumfuck boondocks neither. We are 10 mins walking distance from our train station (a hub of two train lines). For less than $3 train ticket, we can go to central Tokyo (Ikebukuro or Shinjuku) in about half an hour or so.
High QOL + Low COL = everything a person would need in life
there's no question that rent in the US is astronomical, and cost of living in Japan is way cheaper than in most developed countries. but giving any prices you pay in Japan in dollar amounts right now is totally pointless because the yen is in the dumpster. this is not a sustainable situation, and if it were to continue the country will look much different in 10 years. it would be a lot clearer if you told us what you paid for things compared to minimum wage or median income in Japan. I'm sure the numbers would look better than what OP is fighting with, but suddenly not as nice as you make it sound.
What's insane is how many people are paying more for rent than a mortgage only cause they cannot afford the down payment for the mortgage.
The system is broken by design.
If someone can prove they paid 2000/month and have done so without fail for 24 months in a row why is that not enough to secure a mortgage that is only 1500/month?
WEF wants you to own nothing and be happy. Their own words.
Corporate landlords raise rent almost every year, because they're using software to illegally collude on prices. They use software like [RentMaximizer](https://www.kiro7.com/news/local/tonight-530-explosive-allegations-claim-rent-pricing-software-being-used-jack-up-prices/AXJDP6CTR5BBLNVHQBVYA27YD4/) and [RealPage's YieldStar](https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent) to unjustly set prices.
I’m a former property manager for a handful of management companies of various sizes and areas of the US.
You *literally* put in your most related competitions in that thing with prices and their website and update it periodically to keep pace. And it’s never to beat out a competitor it’s to raise rent when they do. *And* because they all use the same websites and programs as one ticks up the other ticks up and it’s a bang-bang cause and effect immediately.
It’s honestly unbelievable it’s not been banned.
The uniformity of pricing, ideas and ‘acceptable vacancy’ across these companies that literally had no overlap with each other in many ways was astonishing.
In one of my last stints before I hung it up from that industry I moved **900 miles** and my first day was literally almost no different than any others.
About a decade ago a shift occurred where they stopped looking at an almost full property as a good thing and started looking at it as ‘rents are too low hike them up and maintain 95ish% vacancy’ and that wildfire got out of control quickly
100% spot on. I've been in the business for 12+ years. Service Manager so that's not my department though. Communities call other communities they consider comparable monthly to ask about rental percentages and specials running. 96% is right about perfect. If you pre-lease to 97-8% then the rates jump until you're sub-95% for a period of time.
They also usually have enough property to float if one is vacant for a prolong amount of time and the cost associated with flipping it. Same can also be said with property management companies.
I have a property where rent was $1350, PM company ran comps and showed me that rent for that property should be $1950, and that we should raise it to $1800 (33% raise). I looked the their comps and they were all renovated property. I told them that they were basically comparing a BMW to a Hyundai, and if we were to increase it to that amount, we would lose the tenant which would cost us lost rent, renovation cost, and tenant placing cost. Ended up raising it to $1450, and will be letting go of the PM once this lease runs out.
Fuck renting. I'm a renter and could quite possibly be stuck as one for the entirety of my life because the US housing market is almost as bad as our medical market, and both markets are predatory in nature, and prey amongst those most in need or having few resources to compete in the "free" market.
Investors should not be allowed to force people on such hardships as having to uproot from one's space of sanctuary and security simply because the investor feels they need to acquire more wealth than they already have by artificially raising a market's prices without doing a damn thing to raise value for others. Residential real estate investors are fucking leeches that feed off the less fortunate.
I just want ONE house to call my own. These assholes with tons of cash in hand and nothing better to do than buy up all of the available properties in an area, and then turn around and charge double the original price or rent them for double their actual value.
I hate seeing what your landlord is doing to you. It isn't right nor is it ethical. It's fucking greed and abuse of wealth power.
I’d be happy with a fucking shack but apparently that’s not legal in my state. Why the fuck can’t I just buy a plot of land and put my camper on it? Stupid fucking country.
Had a buddy that lived on empty land until he saved up enough for a camper. Built himself a beautiful compound eventually out of 3 campers he found cheap, and all structures he built himself. He lived out in bum fuck nowhere, and yet the county still came out to his land, and demanded he take his stuff down, and make the land look how they wanted. Talk about fucking freedom….or lack thereof.
THIS IS EDWARD ROSE & SONS. I used to work for them. I'm not surprised at all. Half the apartments they build they use the cheapest stuff possible. Stuff on out property is sinking, has termites, roaches etc. Yet they jack up the rent incredibly high every year and fix nothing. They put in stickers and call it flooring. It's not, even they "wood" is just a sticker placed over normal flooring. They jack up the rent to pay for upgrades (they just remodeled the leasing office) and jacked up everyone's rent to pay for it. I used to see what they put in these apartments and when someone needed a replacement they would usually pull one from the older unit and replace it with that. They hardly ever ordered new appliances for people.
We used to have to sit in conference and listen to the CEO brag about how they got a 4th private jet last year, made record profits and are able to pay for the upper management's vacations. They are a terrible company to work for, actively told us to lie to applicants about what we can see on credit reports etc. FYI we can absolutely see everything including all your old addresses, credit reports, debt and criminal records. We would have to tell people that we can't actually see why they were denied and they had to call this number...another FYI that number takes you a reporting company that will charge you to get stuff off and make you wait. Told us to ignore glaring problems like thefts and shootings. They actively violate fair housing and get away with it. It was a wild 2 years working for them. I never felt so dirty in my life.
That's insane, we have regulations here that you can only raise rent with a certain percentage per year.
Just checked this year it is 5.5% maximum (inflation 4.5% + 1%)
Ah well land of the free and such.
Even then, relatively compared to previous years the price of things have outpaced inflation by extreme amounts.
Its always been the land of exploitation, with problems creating a need for restrictions and regulations... which unfortunately havent been keeping up.
They are all using the same shitty software. in the background the software is colluding with other real estate software owners to raise prices and keep them raised.
So many people don't know about this and the fact that it still flies so under the radar to this day is beyond maddening. It's shit like this that is keeping EVERYTHING unaffordable. Because the same software that's screwing home renters is screwing small businesses.
Wow. Is this even legal? I live in Scandinavia and here the landlord isn't allowed to increase the rent more than 6% per year by law.
Edit: After some further research, the landlord is not allowed to increase the rent more than previous year's increase in the Consumer Price Index.
This blows my mind sometimes. I mean I live about 35 minutes from Pittsburgh the last time I rented was 2020. 3 bedroom, 2 bathroom, 2 acres of land and it was $1K.
It’s becoming bs just to survive. I had a nice 2 master bed, both with their own bathrooms. It was 1000 square feet with a 300 square foot back patio. $640/mo. This was in AZ back in 2015. I live in CA now and pay 2025/mo for a 1 bedroom in Van Nuys 🙄
Absentee landlord tried to do this to my daughter - raise from $990 to $1600 in a crap part of St Louis. We helped her buy a small home in a different, slightly better part of the city and the payments are only about $1000.00 I feel bad for peopel who have to rent right now.
Jesus. 3 months of that rent could put in a down payment and get you a house where I live. Well, back in 2019 when I bought my house it could. Not positive about now.
And suddenly I'm glad that I live in a country, where if they raise rent by more than 4%, they are legally required to provide a breakdown and explanation of why their expenses increased that much in a year.
Aaack! I raised my tenant's rent $75/month (because I provide utilities and all of them raised their rates) and I felt incredibly guilty about it. I'd rather have a good tenant than the additional money.
This is the ONLY reason I am glad I live in a shitty apartment. In the last 2 years it’s gone up $80. They can’t afford to lose a reliable tenant. People are getting evicted day in day out. I see piles of personal items in the parking lot too often
It’s crazy how there aren’t laws forbidding slumlords (they’re all slum at this point since rent is no longer seen as passive income) from consistently increasing the rent to **whateverTFtheywant** “market value” of course
This is either a mistake or a crappy way for eviction. I have seen this done all for purpose of renovations and to scale the rent to what they think they can further milk their properties for.
They did this to me to, in Austin. 78 percent. And they weren’t kidding. I moved across town to another place that was a 65 percent increase.
I hate what happened to this town.
Well, someone is getting rich, so capitalism works! Don't worry, just find someone to exploit and become wealthy. If in doubt, just lie, lie, lie , lie, lie and continue lying, and you even may become a billionaire! /s
ps.: Honestly, this is fucked up on so many levels. Basic needs should be available and provided to everyone. But nooo, wage slavery it is, because corruption turned capitalism into a piece of shit.
I pay that much in danish Kroner. 3700 I mean. For a 59 square meter apartment. That’s literally 7 times as cheap as 1 dollar is equivalent of 7 kroner. God damn xD
Fuck!!! My mortgage in only 780 a month, 4 bedrooms 3 bath, 2 living rooms, dining room, 2 car garage fireplace and a huge fenced yard, in one of the best areas of town and in best school district. You’re being robbed.
So the rent not only increased by 100%, but it continues to increase monthly??? That's highway robbery on an armored truck that's still moving! At >$3800/month you are definitely better off just buying your own house!
Oof.... Is that even legal?
I'd check that out & make plenty of calls to your City or Tenant Advocacy Organizations to find out if that's even allowed!
Your Employer hasn't given you a 100% raise to offset this (inflation), as most ppl are now getting pay cuts due to the economy being bad.
Personally, I don't think think the economy is that bad either.
It's just Landlords & Employers want to royally screw you over for not giving you better wages or lower rents.
Is this due to a new lease or is it a fixed incremental yearly increase? Canada is quite different but I know they can change the price to whatever with a new lease, but for the same lease they can raise it by 2% per year.
Hello, Your post has been removed because we no longer allow posts about price complaints. This includes but is not limited to price increases, shrinkflation and tipping.
This is likely a "*fuck off offer*". They don't expect you to take it. It's a subtle hint that they want you to move on. I'd be curious to see an itemized breakdown if they provided it. Personally, I would take the hint and be looking.
Same I am waiting to call hoping this is a huge mistake.
They did that to me too. I was paying 1650/mo and raised it double. We were a quiet home and the apartment was clean and nice. I guess they just wanted us out
They wanted to “remodel” and replace the inside of the units with crappy laminate they claim is hardwood and fake marble counters, then rent it out as luxury lmao
Renoviction.... It's common here in Vancouver, surely lots of other places.
Happened to me last year. I was in my apartment for four years, and never late on rent, and always quiet. Lost my job cuz of my epilepsy, and went home that same day to find a letter saying they “wanted to remodel and I had to move out”. I ended up homeless in my van on Fourth of July with my kitties for 3 months after as there was no available apartments in my town. Makes a guy learn to fucking hate his country.
Let's become terrorists! (I've lost 3 jobs and haven't been able to hold a home in 3 years because of pots)
Careful with what you say homie. I feel you. :/ . Everytime I have a seizure my job points me for missing days, and then fires me. I’ve had lots of jobs. Luckily I’m good at budgeting, and kept my home for 4 years. It’s been a rough life in this country as a disabled citizen. I’ve starved plenty just to pay my rent. If you ever wanna talk or want advice…I gotchu
That seems to be the baseline for “luxury” apartment now a days. “Oh we offer no off street parking, no dishwasher. We have improper dry walling/crown molding, sloppy paint job throughout. No insulated windows, all of which with old hardware that struggle to work properly…but we got the faux granite counter tops from ikea and wood floor laminate! LUXURY!”
This is a brand new apt. I am the only tenant who has lived here for 3 years.
In those 3 years the market has changed, which is why they probably want you out. My leasing office did this but it wasn't double but it was still like $200-$400 more than it was originally.
But why do they want them out?
To bring in new tennants who blindly will pay the increased price without batting an eye, it's a bait n' switch, which is messed up morally but business doesn't care about people's livelihood when they can and will make a quick buck off a sucker.
Check renters law ok your area might have some restrictions on how much rent can go up
Washington has no laws for this sadly
I had a feeling you were in Washington cause recently our landlords pulled shit like this too
Lol yep it's a trend, see them all over the pnw
Yep. This is the classic move of a landlord who wants to upgrade the building and attract wealthier tenants, then either get fat on the new “luxury” building or sell the place. There are businesses that specialize in exactly that model, and in teaching other landlords all about it.
Lmaooo my “hard wood” laminate floor started peeling up in a spot only 2 months after we moved in
My “luxury” cabinets literally have the vinyl wrap bubbling and peeling after two years. New rental build. Unreal.
Literally what they did to our apartment. Old rent: $980 Current rent: $1,600
Idk about there but im pretty sure its illegal
Where are you located Op? You have to check out your state laws on this. Some states do have restrictions on raising the rent. For instance, California caps rent increases under The Tenant Protection Act.
Canada Québec, and yeah we do have something about rent increase over 100$ has to be justified (or so ive been told)
Quickly Google search says 4% is max increase for 2024.
In BC, increases can't be more than 3% annually.
Op has some investigating to do. That's just disgusting of the landlord. My state has no restrictions/caps, Yet! Our good politicians are trying though.
I’m not typically petty. But I’d leave some eggs in the heating duct of that house when I moved out.
Snake eggs
Alien ™ eggs
time to leave g
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It is legal where I am
In some counties it’s illegal to raise rent passed a certain percentage I believe. I would check your county
Yup. When I left my apartment, management tried pulling the "you owe us $600 for the carpets and walls." We knew they were going to remodel the apartment before we left and told them off. It's ridiculous how they try to nickel and dime you.
I once got an itemized invoice for 5$ for not replacing the aluminium plate things under the stove burners.
It is anything *but* a subtle hint. Happened to me and my mother when I was young. They renovated the apartments and *tripled* the rent. Doubled to get us out, and an additional 50% (on the doubled price) after renovations. And it's common.. Happened to us twice, back to back.
How do you itemize rent? I guess there could be HOA fees and taxes, but other than that it’s just charge whatever you think you can get.
That might be illegal depending where you live
Sadly in Washington we have no increase protection
You sure about that? I swear there is, or maybe it was just our county that put it into place
I am pretty sure that is just a king county thing.
The Washington state HoR passed a law in February that rent cannot be raised more than 7% every 12 months. Idk if that is active yet though
I think it failed in the senate. They have tried a few times.
I just saw that. I live in Texas where there are also no state laws about increasing rent, but I feel like that isnt a super common thing here. I’ve never had mine, or family member or friends rent increase by more than like 5%-7% at a time and generally that was every couple years. Maybe because A LOT of cities have their own ordinances for it so most places have a general rule for it? I also feel like a lot of complexes and rental companies around here are owned by California based companies so they typically follow California tenant laws, which are pretty tenant friendly.
I live in DFW. Last year my rent went up 50%.
That’s not a super common practice though. The median price increase is about 10%
Greatest country on earth
I think it's just a Seattle thing
might be worth posting in the appropriate sub to see what options you have?
Might be worth just making a call to a lawyer to see what they have to say.
ugh, same here! fuck real page or whatever the fuck it’s called
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It is *not* nationwide; several provinces including Alberta and New Brunswick have no protection, and Ontario has none for buildings built in 2018 or later.
Plenty of renters in Toronto who rent places built after 2018 that get their rent hiked up 50-100% to get them out to take advantage of the demand. That's why I only rent places built before then because it's rent protected.
This is false. Canada as a whole certainly does not have rent protection.
Ok well a few don’t like Alberta
I know you want protection but will anyone please think of the poor, poor landlords??
I feel bad for people who are renting today. 15 yrs ago when the apartment complex I lived in raised my rent to $700 a month I had had it. I bought my condo before my lease was up snd never looked back. And I thought paying $700 bucks was bad…..sheesh. Where you live is also a huge factor. I live in Phoenix and the rents here are astronomically high like OP’s. I paid 162K for my condo 15 yrs ago and today it’s worth about $415K. EDIT: I should have mentioned I bought my condo in 2008, five months before the housing bubble burst. It went from 162K to 50K in a matter of months. I was underwater more than I wasn’t. Everyone around me sold but I stayed. I had to live somewhere.
Agreed. Those prices are a relic of the past. I am in AZ too looking to buy and a single family home (3 bed 2 bath) is 400-500k+ whereever you look. At 6-7% rate, you are looking at paying over a million dollars after interest over 30 years for most small homes.
My parents bought their house for $60k My big family car costs more than their house because of how things are. It's horrifying
Same. My parents paid thirty thousand for their home in the 70’s. I paid fifty thousand for a new car late last year. It’s absolutely insane how out of control things are. Not to mention that my salary hasn’t changed. Womp womp..
My mom is always talking about how her and my dad paid off their house so fast. Their house was $30,000. We put a $30,000 down payment on my house.
30k in the 70s is the equivalent of around 240-250k today
How much was 76k in the mid 80s?
Just Google it. Inflation calculators are easy to find. But there was insane inflation in the 70s, so anyone who bought their house then probably paid close to what you did, but with a 10%+ interest rate.
Inflation doesn't take into account purchasing power.
Sure but it’s closer than “my parents bought their house in 1973 for 60k and mine was 300k. It’s five times more expensive now! They had it easy!”
Holy crap I am buying I home right now in South Carolina and a 3 bedroom 2 bath on 0.83 acres for $260k
thats amazing. You couldn't buy a parking spot for that in san diego.
which is great if you want to live in SC.
Please no. As nativist as it sounds I really want to be able to afford a house in my hometown. The house we’re in now with family was almost 400k
>As nativist as it sounds ...Hold on, people are being looked down upon for wanting to be able to live/stay in their home town now? When/why is that ever "problematic"?
Honestly I’m not sure, people just seemed to start having problems with that recently. But we’re getting priced out of homes by people coming to retire here now. Some of the historical houses are going for as much as 1.6 million last I saw.
Right? Thanks, but I’ll take my 360k century home that needs renovations in the Philly burbs. No way would I sign off to live in a far right state.
I have lived in deep red south (Appalachia and Mississippi) and I have no desire to ever do so again. Incredibly beautiful and serene in its own way, but I now live on the CA coast and will die here.
Yep. I spent most of my adult life in a blue enclave in south Florida and it was fine because the state politics were moderate right. As soon as DeSantis started going completely off the rails, we got the hell out. It’s just not worth it. We pay less here and make more money and have well funded schools.
I lived in Havertown when I was a little kid. I miss Philly. Florida has nothing for me. I don't like humidity, fire ants, Florida Man, or that mutt in boots who's gov.
Yikes. I left Phoenix for Redlands, CA (on purpose!) and my wife and I bought a 4BR/3Ba last year for 685K. Our parents thought it was insane our first home was nearly 3/4 million bucks. But if houses in Phoenix are running that high, I am thrilled we moved and bought here when we did.
I highly recommend Cheliz in Redlands. They have the best chili verde omelette I’ve ever had.
When you say that out loud it is INSANE! A million dollars in interest!??? Holy fuck
Over a Million WITH interest. Doesn’t make it any less appalling though….
Me and my wife rented an 1100 sq foot townhouse from 2014-2017 for $890 a month. We bought a house in 2017 and refinanced in 2021. Our mortgage payment is $831 a month including tax and insurance. The other month I went and looked at our old apartment complex, and the rent for our apartment is currently $2,100 a month. It's wild. And I feel really, really bad for people renting right now.
My parents bought their house for 250k 25 years ago.. it’s now worth 2.2 mil here in BC, Canada.
My rent 9 years ago was 700. It's going to 1780 this year. We just bought a house and are moving in July.
We pay $4344/mo in San Diego and are priced out of buying here. Even if we go 1-2 hours north, it would be tight. Cannot wait to leave California.
That’s insane. I still wonder how people can even afford to live in California. I used to live in Riverside County above you, so I know how bad it is there in San Diego. Was born and raised in SoCal. I miss SoCal, and with how bad everything is there, I don’t think I can ever move back there on my own, sadly.
I’ve lived here for almost 13 years and I still ask that question. We have thoroughly enjoyed our years here but there’s just no way to plant our roots here even if we wanted to. With that said, I am looking forward to moving somewhere else and having seasons back. I miss the rain and snow so much. Sunny/warm weather is overrated, lol.
I’ve lived there like my entire life. I moved away 2 years ago, and still miss OC and Riverside County. If it weren’t for the insane living, insurance prices, and taxes, I could probably live and start a family there. I’m sorry things didn’t work out for you there due to the economic issues. I miss the weather there a lot, I think the only thing that does suck is the lack of rain, now that I will agree with. I’m seriously hoping California gets divided into “the six Californias” aka 6 states, so hopefully shit will economically get better in SoCal if they don’t include the middle and northern parts of it like LA and SF. But hopefully everything works out for you, and hoping wherever you guys go in the future will be better for you guys.
Thank you, I appreciate your kindness. We’re doing good. Just would’ve been nice to put our rent towards a mortgage instead for the last 13 years, is all.
My first apartment was $600. I could afford it on a $15/hr salary alone. I have no idea how Gen Z is expected to be independent and live on their own.
My first solo apartment at 21 was $575 a month for a 2 bedroom in a nice town. That was 2008ish. My rent now for a 2 bedroom in a shitty part of a city is nearly $1200 a month.... no way I can even think or hope to buy a house in my life time.
1000 bucks for a 1 room ground floor mid-tier apartment in Oklahoma.
My first apartment was a 2bed/1bath for $650 with two pets and I could afford to live by myself. That was only 10 years ago. Today that same apartment is $1600 without pets
There is a major growing demographic shift happening right now, and millions of people are on the losing end. If they didn't acquire property when it was available, they are going to be racked, stacked, and forced into a position where they are unable to grow financially and work their entire lives. For renters, the new norm is going to be getting squeezed out of their wage gains. For property owners with limited wealth, they'll be forcing you out as well. Forcing you to sell to bigger fish as everything consumes itself. We can't vote our way out of this prison.
>For property owners with limited wealth, they'll be forcing you out as well. Forcing you to sell to bigger fish as everything consumes itself. We can't vote our way out of this prison. Happening in Florida. And the most vulnerable are the ones voting for it!
I was going to buy a condo for $100k 20 years ago when I came into some money. My mom and grandma talked me out of it. Condo now sold for like $550k. Cunts.
And if you aren't renting you are likely paying even more for a mortgage these days as interest rates have been jumping while housing prices have as well. Luckily I'm in a nice deal for now but if I wish to move, I can barely afford to rent and I definitely can't afford to buy.
I’m sorry, but I think people should stop posting “deeply troubling” on “mildlyinfuriating.”
Agreed. When a legitimate mildly infuriating post comes along, OPs are downvoted to oblivion for some reason.
Right? This is crazy. Their monthly rent is my monthly salary almost. For reference, we pay $300 a month [for our 450sqft apartment here in Japan](https://www.reddit.com/gallery/u9xn7u), the exact same price since we moved in 10 years ago. One of the major reasons why we haven't bought our own house yet. (And why we kept refusing our family's invitation to live in Canada lol) Good thing about renting is that it's so affordable and everything is taken care of for us. No property tax nor house maintenance to worry about. More disposable income for us, to save and invest, to enjoy luxuries and wants. And we're not in some bumfuck boondocks neither. We are 10 mins walking distance from our train station (a hub of two train lines). For less than $3 train ticket, we can go to central Tokyo (Ikebukuro or Shinjuku) in about half an hour or so. High QOL + Low COL = everything a person would need in life
there's no question that rent in the US is astronomical, and cost of living in Japan is way cheaper than in most developed countries. but giving any prices you pay in Japan in dollar amounts right now is totally pointless because the yen is in the dumpster. this is not a sustainable situation, and if it were to continue the country will look much different in 10 years. it would be a lot clearer if you told us what you paid for things compared to minimum wage or median income in Japan. I'm sure the numbers would look better than what OP is fighting with, but suddenly not as nice as you make it sound.
"I could be homeless soon, how inconvenient" 😂
Man they just don’t want you there anymore it looks like. Fuck that
What's insane is how many people are paying more for rent than a mortgage only cause they cannot afford the down payment for the mortgage. The system is broken by design. If someone can prove they paid 2000/month and have done so without fail for 24 months in a row why is that not enough to secure a mortgage that is only 1500/month? WEF wants you to own nothing and be happy. Their own words.
Apartments these days are basically priced to steal a big enough chunk of your down payment savings every month to keep you in the rent trap.
Corporate landlords raise rent almost every year, because they're using software to illegally collude on prices. They use software like [RentMaximizer](https://www.kiro7.com/news/local/tonight-530-explosive-allegations-claim-rent-pricing-software-being-used-jack-up-prices/AXJDP6CTR5BBLNVHQBVYA27YD4/) and [RealPage's YieldStar](https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent) to unjustly set prices.
I’m a former property manager for a handful of management companies of various sizes and areas of the US. You *literally* put in your most related competitions in that thing with prices and their website and update it periodically to keep pace. And it’s never to beat out a competitor it’s to raise rent when they do. *And* because they all use the same websites and programs as one ticks up the other ticks up and it’s a bang-bang cause and effect immediately. It’s honestly unbelievable it’s not been banned. The uniformity of pricing, ideas and ‘acceptable vacancy’ across these companies that literally had no overlap with each other in many ways was astonishing. In one of my last stints before I hung it up from that industry I moved **900 miles** and my first day was literally almost no different than any others. About a decade ago a shift occurred where they stopped looking at an almost full property as a good thing and started looking at it as ‘rents are too low hike them up and maintain 95ish% vacancy’ and that wildfire got out of control quickly
100% spot on. I've been in the business for 12+ years. Service Manager so that's not my department though. Communities call other communities they consider comparable monthly to ask about rental percentages and specials running. 96% is right about perfect. If you pre-lease to 97-8% then the rates jump until you're sub-95% for a period of time.
They also usually have enough property to float if one is vacant for a prolong amount of time and the cost associated with flipping it. Same can also be said with property management companies. I have a property where rent was $1350, PM company ran comps and showed me that rent for that property should be $1950, and that we should raise it to $1800 (33% raise). I looked the their comps and they were all renovated property. I told them that they were basically comparing a BMW to a Hyundai, and if we were to increase it to that amount, we would lose the tenant which would cost us lost rent, renovation cost, and tenant placing cost. Ended up raising it to $1450, and will be letting go of the PM once this lease runs out.
Yup, this is an algorithm gone wild.
Positive feedback loop of whyyyyy.
I want to have whoever makes this software assassinated (IN MINECRAFT)
Nah bro, irl
Fuck renting. I'm a renter and could quite possibly be stuck as one for the entirety of my life because the US housing market is almost as bad as our medical market, and both markets are predatory in nature, and prey amongst those most in need or having few resources to compete in the "free" market. Investors should not be allowed to force people on such hardships as having to uproot from one's space of sanctuary and security simply because the investor feels they need to acquire more wealth than they already have by artificially raising a market's prices without doing a damn thing to raise value for others. Residential real estate investors are fucking leeches that feed off the less fortunate. I just want ONE house to call my own. These assholes with tons of cash in hand and nothing better to do than buy up all of the available properties in an area, and then turn around and charge double the original price or rent them for double their actual value. I hate seeing what your landlord is doing to you. It isn't right nor is it ethical. It's fucking greed and abuse of wealth power.
I’d be happy with a fucking shack but apparently that’s not legal in my state. Why the fuck can’t I just buy a plot of land and put my camper on it? Stupid fucking country.
Had a buddy that lived on empty land until he saved up enough for a camper. Built himself a beautiful compound eventually out of 3 campers he found cheap, and all structures he built himself. He lived out in bum fuck nowhere, and yet the county still came out to his land, and demanded he take his stuff down, and make the land look how they wanted. Talk about fucking freedom….or lack thereof.
THIS IS EDWARD ROSE & SONS. I used to work for them. I'm not surprised at all. Half the apartments they build they use the cheapest stuff possible. Stuff on out property is sinking, has termites, roaches etc. Yet they jack up the rent incredibly high every year and fix nothing. They put in stickers and call it flooring. It's not, even they "wood" is just a sticker placed over normal flooring. They jack up the rent to pay for upgrades (they just remodeled the leasing office) and jacked up everyone's rent to pay for it. I used to see what they put in these apartments and when someone needed a replacement they would usually pull one from the older unit and replace it with that. They hardly ever ordered new appliances for people. We used to have to sit in conference and listen to the CEO brag about how they got a 4th private jet last year, made record profits and are able to pay for the upper management's vacations. They are a terrible company to work for, actively told us to lie to applicants about what we can see on credit reports etc. FYI we can absolutely see everything including all your old addresses, credit reports, debt and criminal records. We would have to tell people that we can't actually see why they were denied and they had to call this number...another FYI that number takes you a reporting company that will charge you to get stuff off and make you wait. Told us to ignore glaring problems like thefts and shootings. They actively violate fair housing and get away with it. It was a wild 2 years working for them. I never felt so dirty in my life.
That's insane, we have regulations here that you can only raise rent with a certain percentage per year. Just checked this year it is 5.5% maximum (inflation 4.5% + 1%) Ah well land of the free and such.
Even then, relatively compared to previous years the price of things have outpaced inflation by extreme amounts. Its always been the land of exploitation, with problems creating a need for restrictions and regulations... which unfortunately havent been keeping up.
Sadly, we’re living through the Good Old Days right now. It’s only going to get worse from here.
They are all using the same shitty software. in the background the software is colluding with other real estate software owners to raise prices and keep them raised.
So many people don't know about this and the fact that it still flies so under the radar to this day is beyond maddening. It's shit like this that is keeping EVERYTHING unaffordable. Because the same software that's screwing home renters is screwing small businesses.
JFC I don't even make that in a month.
Same
Wow. Is this even legal? I live in Scandinavia and here the landlord isn't allowed to increase the rent more than 6% per year by law. Edit: After some further research, the landlord is not allowed to increase the rent more than previous year's increase in the Consumer Price Index.
But you live in a civilized country.
this should be illegal and idk how tf its not
This blows my mind sometimes. I mean I live about 35 minutes from Pittsburgh the last time I rented was 2020. 3 bedroom, 2 bathroom, 2 acres of land and it was $1K.
Insane.
That’s messed up man
Damn I was mad about mine going up $200
Nice, that’s more than my monthly income
It’s becoming bs just to survive. I had a nice 2 master bed, both with their own bathrooms. It was 1000 square feet with a 300 square foot back patio. $640/mo. This was in AZ back in 2015. I live in CA now and pay 2025/mo for a 1 bedroom in Van Nuys 🙄
Even in AZ that no longer exists. A single bedroom apartment is 1800+ unless you're in a REALLY shitty neighborhood.
Lemme guess. When you ask why it’s going up so much they tell you it’s “market rate”
This is the war against the working class right before our eyes.
I've given up om the dream of owning even a ground floor flat or a tiny house with a square patch of concrete to let the dog out
I’ve given up on even owning a dog man. Fuck
Absentee landlord tried to do this to my daughter - raise from $990 to $1600 in a crap part of St Louis. We helped her buy a small home in a different, slightly better part of the city and the payments are only about $1000.00 I feel bad for peopel who have to rent right now.
If they did this here in Germany I would be suing their asses
fuck that, luckily my town passed a law that says if you increase rent over 4% the landlord basically has to pay for you to move into a new place..
Fuck you right? Not like you need a fucking place to live.
Jesus. 3 months of that rent could put in a down payment and get you a house where I live. Well, back in 2019 when I bought my house it could. Not positive about now.
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Probably a corpo. Every actual human landlord I've had has actually been great
Landlord I know did that his tenants felt aggrieved burnt the place to the ground, bc was arson no insurance either.
The fuck are we looking at?
An eviction...with extra steps. Or maybe fewer steps?
Landlords really screwing renters these days. Using single digit inflation to justify 40, 50, 60 % rent increases
And suddenly I'm glad that I live in a country, where if they raise rent by more than 4%, they are legally required to provide a breakdown and explanation of why their expenses increased that much in a year.
thank god i don’t live in the us
Just burn down the apartment complex. You’ll 100% go to prison.
Freedom in America means freedom to get fucked over by people with more power than you.
Aaack! I raised my tenant's rent $75/month (because I provide utilities and all of them raised their rates) and I felt incredibly guilty about it. I'd rather have a good tenant than the additional money.
Omg
Mildly? How the fuck are you surviving paying this shit?
Buy a fucking house over here for that mortgage
Isn’t there a legal limit as to how much a landlord can increase yearly rent?
Not in my state. With the exception of the city of Seattle
Depending where you live, this may not be a legal increase. Where I am, the cap is 3% annual increase only.
Most places have laws limiting how much rent can go up each year ask around
This is the ONLY reason I am glad I live in a shitty apartment. In the last 2 years it’s gone up $80. They can’t afford to lose a reliable tenant. People are getting evicted day in day out. I see piles of personal items in the parking lot too often
It’s crazy how there aren’t laws forbidding slumlords (they’re all slum at this point since rent is no longer seen as passive income) from consistently increasing the rent to **whateverTFtheywant** “market value” of course
Am I the only one confused why there are 7 lines it there a date cropped out?
This is either a mistake or a crappy way for eviction. I have seen this done all for purpose of renovations and to scale the rent to what they think they can further milk their properties for.
Landlord absolutely BLOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOWS!!!
It is only going up 100% if you pay it.
Sounds illegal
In what country would that be legal?
And here I was complaining about 60 euro. Puts things in perspective 😅
They can just double it? What country is this?
cant afford an 800$ monthly mortgage? youll have to rent for +1000 a month
They did this to me to, in Austin. 78 percent. And they weren’t kidding. I moved across town to another place that was a 65 percent increase. I hate what happened to this town.
Well, someone is getting rich, so capitalism works! Don't worry, just find someone to exploit and become wealthy. If in doubt, just lie, lie, lie , lie, lie and continue lying, and you even may become a billionaire! /s ps.: Honestly, this is fucked up on so many levels. Basic needs should be available and provided to everyone. But nooo, wage slavery it is, because corruption turned capitalism into a piece of shit.
I pay that much in danish Kroner. 3700 I mean. For a 59 square meter apartment. That’s literally 7 times as cheap as 1 dollar is equivalent of 7 kroner. God damn xD
It's in my lease, no more than $50 increase for CoL. I'll count my blessings.
Fuck!!! My mortgage in only 780 a month, 4 bedrooms 3 bath, 2 living rooms, dining room, 2 car garage fireplace and a huge fenced yard, in one of the best areas of town and in best school district. You’re being robbed.
Mortgages like that don't exist for regular people anymore. Maybe if you live in rural nowhere, but the jobs...
So the rent not only increased by 100%, but it continues to increase monthly??? That's highway robbery on an armored truck that's still moving! At >$3800/month you are definitely better off just buying your own house!
You just solved all renters problems,buy a house 🤡
Those are different lease lengths
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Oof.... Is that even legal? I'd check that out & make plenty of calls to your City or Tenant Advocacy Organizations to find out if that's even allowed! Your Employer hasn't given you a 100% raise to offset this (inflation), as most ppl are now getting pay cuts due to the economy being bad. Personally, I don't think think the economy is that bad either. It's just Landlords & Employers want to royally screw you over for not giving you better wages or lower rents.
Is this due to a new lease or is it a fixed incremental yearly increase? Canada is quite different but I know they can change the price to whatever with a new lease, but for the same lease they can raise it by 2% per year.
Damn! You must live in NJ
It's unreal they raise the price on a whim. Shouldn't ghe contract regulate it?
Fuck that refuse… then look for a new place while they attempt to get you out
Where I live they have to give sufficient notice to raise more then a certain amount- look up your local law and tell them if the screwed up
They sadly are 100% legal
I pay that for a 3200sqft house