The Rent Is Too Damn High

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#101

Post by stoppingby » Wed Apr 25, 2018 5:32 pm

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Re: The Rent Is Too Damn High

#102

Post by maydijo » Wed Apr 25, 2018 5:41 pm

Gentrification sucks. We used to live in a gritty red light district. Since the area was established, it had always been a red light district. That gave it a certain vibe, a certain feel - gritty, sure, but also relaxed, accepting. Then gentrification hit - and suddenly all these people who had moved in, knowing exactly where they were moving, wanted to kick out the prostitutes because 'think of our home valuations.' They got the property cheap because of where it was. They knew it was a red light district; everyone in the city knew it. It drove me crazy. I felt like the prostitutes were there first, and their rights were being ignored. You don't move to a neighborhood and change what it is. If you don't like what it is, you choose a different neighborhood.



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Re: The Rent Is Too Damn High

#103

Post by Sunrise » Wed Apr 25, 2018 8:33 pm

Addie wrote:
Wed Apr 25, 2018 3:21 pm
WaPo
HUD Secretary Ben Carson to propose tripling rent for some low-income Americans

U.S. Housing and Urban Development Secretary Ben Carson on Wednesday will propose tripling the amount the poorest households are expected to pay for rent as well as encourage those receiving housing subsidies to work, according to the administration’s legislative proposal obtained by The Washington Post.

The move to overhaul how low-income rental subsidies are calculated would affect more than 4.5 million families relying on federal housing assistance. The proposal legislation would require congressional approval.

Currently, tenants generally pay 30 percent of their adjusted income toward rent or a public housing agency minimum rent -- which is capped at $50 a month for the poorest families. The administration’s legislative proposal sets the family monthly rent contribution at 35 percent of gross income or 35 percent of their earnings working 15 hours a week at the federal minimum wage. Under the proposal, the cap for the poorest families would rise to approximately $150 a month, three times higher than the current minimum.

The Trump administration has long signaled through its budget proposals and leaked draft legislation that it seeks to increase the rents low-income tenants pay to live in federally subsidized housing.
:smokeears: :smokeears: :mad2: :mad2: :twoup: :twoup:


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Re: The Rent Is Too Damn High

#104

Post by TollandRCR » Wed Apr 25, 2018 11:48 pm

Ben Carson would never understand that. Try a less sleepy member of the Cabinet. Are there any?


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Re: The Rent Is Too Damn High

#105

Post by vic » Thu Apr 26, 2018 12:59 am

maydijo wrote:
Wed Apr 25, 2018 5:41 pm
Gentrification sucks. We used to live in a gritty red light district. Since the area was established, it had always been a red light district. That gave it a certain vibe, a certain feel - gritty, sure, but also relaxed, accepting. Then gentrification hit - and suddenly all these people who had moved in, knowing exactly where they were moving, wanted to kick out the prostitutes because 'think of our home valuations.' They got the property cheap because of where it was. They knew it was a red light district; everyone in the city knew it. It drove me crazy. I felt like the prostitutes were there first, and their rights were being ignored. You don't move to a neighborhood and change what it is. If you don't like what it is, you choose a different neighborhood.
Off Topic
I live in a suburban community which is part of the City of Los Angeles. Much of it was agricultural before the postwar housing boom. Portions to the north and west were zoned for agriculture and/or "horse properties". There are some riding paths, and until recently, it wasn't unusual to see a horse being ridden on one of the major roads (https://www.google.com/maps/place/Devon ... 18.5285392)

A few years ago, some of the large horse properties were bought by developers who then had them rezoned to allow condominiums. And then the new residents demanded that the horses be removed from the nearby properties.



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Re: The Rent Is Too Damn High

#106

Post by Chilidog » Thu Apr 26, 2018 4:39 am

Sunrise wrote:
Wed Apr 25, 2018 8:33 pm
Addie wrote:
Wed Apr 25, 2018 3:21 pm
WaPo
Ben Carson. Triple rents
...
:smokeears: :smokeears: :mad2: :mad2: :twoup: :twoup:
That is proposed legislation

I can't see Congress passing that in an election year.



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Re: The Rent Is Too Damn High

#107

Post by Chilidog » Thu Apr 26, 2018 4:43 am

The opposite of gentrification sucks as well.

The house my great grandfather lived in 125 years ago is now a Mexican gang headquarters



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Re: The Rent Is Too Damn High

#108

Post by maydijo » Thu Apr 26, 2018 5:54 am

Chilidog wrote:
Thu Apr 26, 2018 4:43 am
The opposite of gentrification sucks as well.

The house my great grandfather lived in 125 years ago is now a Mexican gang headquarters
Fair point. But there is middle ground.



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Re: The Rent Is Too Damn High

#109

Post by Volkonski » Sat May 12, 2018 1:04 pm

More Houston millennials living at home

https://www.houstonchronicle.com/busine ... 906722.php
About 1 in 5 Houston-area millennials live at home with their moms, up from 1 in 8 of young adults in 2005, a new report shows.

This cohort of 24- to 36-year-olds are choosing to return home (though some have never left) likely because of rising rents, incomes that haven't kept up and a sluggish job market for young adults, according to data released this week from Seattle-based real estate listing and data firm Zillow.

In the Houston metro, 22.3 percent of millennials live with their moms, up from 13 percent of young adults in 2005. Among them, 12 percent are unemployed.

The median apartment rent in Houston is $1,558 per month -- compared with $1,447 nationally -- and renters here typically spend 29 percent of their monthly income on rental housing.


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Re: The Rent Is Too Damn High

#110

Post by Volkonski » Tue May 15, 2018 1:11 pm

Houston post-Harvey is ground-zero for the rental affordability crisis [Opinion]

https://www.houstonchronicle.com/opinio ... ron-result
In fact, no state has an adequate supply of affordable rental housing for the lowest income renters. In Texas, there are 873,417 low-income renter households, and only 30 affordable and available rental homes for every 100 extremely low-income renter households.

In Houston, the situation is even more dire, with 18 homes for every 100 extremely low-income renter households.

Low-income families who struggle with unsustainable rents are often forced to forego other essentials like medical care and nutritious food. These families are likely to endure frequent moves, with lasting consequences to their children’s health and educational achievement.

High rent burdens are also a deterrent to economic growth. If affordable-housing options remain limited, Houston risks the exodus of thousands of young talented adults who help power this growth.
For decades Houston was famous for its affordable housing. That ceased to be true even before Harvey. Then Harvey made things much worse.


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Re: The Rent Is Too Damn High

#111

Post by Jez » Tue May 15, 2018 2:27 pm

It's one of the reasons I moved from the Dallas area. Rents were starting to hit the $2-3/sq ft region. The apartment I lived in runs between 1000-1500/month depending on the building you are in, whether your have a balcony or not, and the floor it's on. If you are lucky enough to get first floor with a small front yard, it's going to run around 1800/month. And that is for 722 sq ft / 1 bedroom. To pay less around 25% of my net income in rent, I would have had to move to one of the worst parts of Dallas, or out to the sticks. Neither was much of an option in my mind.

So, I moved to Ohio. :)


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Re: The Rent Is Too Damn High

#112

Post by Addie » Thu Jun 07, 2018 8:14 am

Associated Press
Analysis: HUD plan would raise rents for poor by 20 percent

CHARLESTON, S.C. (AP) — Housing Secretary Ben Carson says his latest proposal to raise rents would mean a path toward self-sufficiency for millions of low-income households across the United States by pushing more people to find work. For Ebony Morris and her four small children, it could mean homelessness.

Morris lives in Charleston, South Carolina, where most households receiving federal housing assistance would see their rent go up an average 26 percent, according to an analysis done by Center on Budget and Policy Priorities and provided exclusively to The Associated Press. But her increase would be nearly double that.

Overall, the analysis shows that in the nation’s 100 largest metropolitan areas, low-income tenants — many of whom have jobs — would have to pay roughly 20 percent more each year for rent under the plan. That rent increase is about six times greater than the growth in average hourly earnings, putting the poorest workers at an increased risk of homelessness because wages simply haven’t kept pace with housing expenses.

“I saw public housing as an option to get on my feet, to pay 30 percent of my income and get myself out of debt and eventually become a homeowner,” said Morris, whose monthly rent would jump from $403 to $600. “But this would put us in a homeless state.”

Roughly 4 million low-income households receiving HUD assistance would be affected by the proposal. HUD estimates that about 2 million would be affected immediately, while the other 2 million would see rent increases phased in after six years. ...

The analysis shows that families would be disproportionately impacted. Of the 8.3 million people affected by the proposal, more than 3 million are children.


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Re: The Rent Is Too Damn High

#113

Post by RoadScholar » Thu Jun 07, 2018 9:05 am

They obviously just want the poor to hurry up and die, and "decrease the surplus population." :madguy:


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Re: The Rent Is Too Damn High

#114

Post by Tiredretiredlawyer » Thu Jun 07, 2018 9:55 am

RoadScholar wrote:
Thu Jun 07, 2018 9:05 am
They obviously just want the poor to hurry up and die, and "decrease the surplus population." :madguy:
Charles Dickens approves the use of his quote.


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Re: The Rent Is Too Damn High

#115

Post by DejaMoo » Thu Jun 07, 2018 12:32 pm

RoadScholar wrote:
Thu Jun 07, 2018 9:05 am
They obviously just want the poor to hurry up and die, and "decrease the surplus population." :madguy:
And yet the conspiracy-addicted right wing, which believes this conspiracy theory when it is ascribed to the Left/Dems, doesn't believe it at all when it's the obvious consequence of multiple GOP talking points and policies.



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Re: The Rent Is Too Damn High

#116

Post by Addie » Wed Jun 13, 2018 1:00 pm

WaPo
A minimum-wage worker can’t afford a 2-bedroom apartment anywhere in the U.S.

The economy’s booming. Some states have raised minimum wages. But even with recent wage growth for the lowest-paid workers, there is still nowhere in the country where someone working a full-time minimum wage job could afford to rent a modest two-bedroom apartment, according to an annual report released Wednesday by the National Low Income Housing Coalition.

Not even in Arkansas, the state with the cheapest housing in the country. One would need to earn $13.84 an hour — about $29,000 a year — to afford a two-bedroom apartment there. The minimum wage in Arkansas is $8.50 an hour.

Even the $15 living wage championed by Democrats would not make a dent in the vast majority of states.

In Hawaii, the state with the most expensive housing, one would have to make $36.13 — about $75,000 a year — to afford a decent two-bedroom apartment. The minimum wage in Hawaii rose to $10.10 an hour this year.

It gets worse in many metropolitan areas. San Francisco, Marin and San Mateo counties top the list of most expensive jurisdictions, where one would need to make $60.02 an hour to afford a modest two-bedroom apartment.


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Re: The Rent Is Too Damn High

#117

Post by DejaMoo » Wed Jun 13, 2018 2:50 pm

When did the ability to afford the rent of an entire apartment, instead of just a room or two in a boardinghouse or cheap hotel, become the default for the majority of renters? The 1950s? 1960s?

Was that perhaps just a brief, lovely blip in our history? Are we going to have to go back to the idea of just renting rooms?

The cost of buying a home has gone up nearly everywhere, too, so that the old home ownership affordability rule of thumb (average home cost = 2.5 - 3 times average annual income in an area) doesn't even apply most places anymore. Like it or not, you'll either pay more, or settle for less - a fixer-upper, or a townhome/condo, or give up and rent an apartment.



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Re: The Rent Is Too Damn High

#118

Post by Lani » Wed Jun 13, 2018 4:47 pm

In Honolulu, a renter is lucky to get a studio apartment for $1600. The 20 somethings I know are sharing apartments.


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Re: The Rent Is Too Damn High

#119

Post by Jez » Thu Jun 14, 2018 8:21 am

I'm basically renting a room right now for about half of what I was paying in Plano. And we've got another room for rent, and we think we found someone. We've been talking to her on the phone for the last few days. Hopefully will be meeting her tonight in person. She seems nice, is employed, and has a similar sense of humor to us, so that might help.
She would also be bringing a dog and a cat. So, we would be up to two dogs and four cats in the house. Her dog is a Chihuahua, but supposedly nice. Only 7 lbs. I think the cats are bigger than that dog.

She now lives in North Dayton and wants to be in South Dayton, where we are. Her father is in a hospital a few miles from here undergoing cancer treatments. She wants to be closer.

Here's hoping it all works out. We need that other income.


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Re: The Rent Is Too Damn High

#120

Post by Addie » Sun Jun 17, 2018 8:45 pm

LA Times
Californians will make a big decision on rent control in November



California voters will decide in November whether to give cities and counties new freedom to expand the use of rent control after an initiative backed by tenant groups earned a spot Friday on this fall’s ballot.

The initiative would repeal a decades-old state law that prevents local governments from passing most new rent control laws.

Supporters, who collected at least 407,769 signatures to put the measure before voters on Nov. 6, said its success was a reflection of a widespread affordable housing problem. ...

Supporters have also pointed out the Legislature still has an opportunity to act on its own to expand rent control and have the measure withdrawn from the November ballot. But lawmakers have not been able to find an alternative that satisfies both sides in the debate.

The campaign is expected to be one of the highest profile and expensive in California this year. Opponents such as California Apartment Assn., which represents landlords, has estimated it will spend upwards of $60 million to defeat the initiative, and is already running social media campaigns against it.


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Re: The Rent Is Too Damn High

#121

Post by Volkonski » Mon Jun 18, 2018 9:28 am

The problem with rent control as anything but a temporary measure is that you eliminate the incentive for landlords to maintain their properties.

Eventually landlords stop paying their real estate taxes and the municipality takes the poorly maintained properties for back taxes. The municipality is then stuck with occupied properties for which it can't find buyers and for which it must pay for the upkeep.

Californians would do well to study New York City's history with rent control.


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Re: The Rent Is Too Damn High

#122

Post by Addie » Sat Jul 28, 2018 9:20 am

The Week
How social housing can save the American city ...

And even that scenario wouldn't work everywhere. In really high demand locations, there is probably no physically possible level of housing supply that could bring down rents to a tolerable level. In Manhattan, for instance, density is over 72,000 residents per square mile, already one of the highest figures in the world. But you could almost certainly double that and not even satiate all the luxury demand. A high-end building boom on the island over the last few years has brought down rents by 3.8 percent this year — to an eye-watering median of $3,168.

Rent control plus social housing is a far superior option for such places. Here's how it works.

Rent control, obviously, places rents mostly outside the market. Contrary to the witless dogmatism in every Econ 101 textbook, it's a perfectly reasonable policy for places with extreme rent demand. As Sarah Jones explains, it allows people to stay in their homes long-term, allowing for stable and healthy communities to develop, insulated from the wild swings in market prices and concomitant constant moving from place to place. The main problems with rent and vacancy regulations in New York is that they are full of loopholes and rarely enforced in any case. ...

But what rent control does not do is provide a supply of new units. That's where social housing comes in. This refers to government-owned housing that is open to all residents (contrary to American-style public housing, which is restricted to the poor). This provides the needed housing supply, and in all market segments simultaneously — not just the luxury market. Without the need for profit, overall rents could be lower — but with broad socioeconomic diversity among tenants, governments could still use "social rents" to pay for upkeep (no huge subsidies required) and cross-subsidize their tenants. For example, one-third could be reserved for the poor and working class, charged a very low rent; another third with higher rents but still below market; and the final third charged prevailing market rates (all of which would then be folded into the rent control scheme). Even the richer tenants would be no worse off than they would be in the private market — which would receive some downward price pressure as well. Similar programs work well in Vienna and Finland.

Furthermore, social housing is strictly superior to market-rate housing in supply efficiency terms. Governments have a lower cost of capital than private developers, so they can stretch their construction dollar further and make better use of scarce resources. They also generally own a lot of land, making for zero acquisition costs in many cases (the land under crumbling city-wrecking highways are one good option). Apartments would be modest, both smaller than luxury apartments and without space-gobbling lobbies or concierge service — making for greater unit density.


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Re: The Rent Is Too Damn High

#123

Post by mmmirele » Sat Jul 28, 2018 1:31 pm

I don't know about rents in Phoenix, which is 20+ miles away, but out here in Mesa, they're still "somewhat" affordable, as in a two-bedroom is still under $1000. The flip side is that those of us with houses are still having to deal with the fact that our home values are depressed as well. My home is currently 54 percent of its note value (yes, I stupidly bought at the top of the bubble). It's affordable in that I didn't buy more house than I though I could afford and is about the same per month as an apartment, plus there is the mortgage interest deduction. But I would end up in the hole by tens of thousands of dollars if I had to "sell" it. On the one hand, I'm hoping that the arrival of light rail a mile-ish from my house in the next two years will improve home values, but on the other hand, it will likely price local apartment stock much higher as ASU students move in to be further from campus (or, conversely, closer to the proposed downtown Mesa campus).

Our biggest problem is that wages have not kept up with prices and people are being priced out of lots of things, not just rentals. Look at the cost of a car--yikes!



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Re: The Rent Is Too Damn High

#124

Post by RVInit » Sat Jul 28, 2018 1:44 pm

mmmirele wrote:
Sat Jul 28, 2018 1:31 pm
:snippity:

Our biggest problem is that wages have not kept up with prices and people are being priced out of lots of things, not just rentals. Look at the cost of a car--yikes!
Off Topic
Yes. I refuse to buy a new car for that reason. Some cars now cost what my parents paid for a house in Florida in the early 1970's. And, that was a decent ranch house in a nice neighborhood. My dad and mom both had good jobs and my dad also was pulling a retirement income from his 28 years in the military. We were not poor.


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Re: The Rent Is Too Damn High

#125

Post by Jez » Sat Jul 28, 2018 2:38 pm

It's one reason I'm living with my friend, Dawn. When she bought her house a couple of years ago, she didn't buy more than she could afford. Then she ended up losing her nice higher paying job and had to take one that paid quite a bit less. I'm helping her, she's helping me.

In Plano, my 702 sq ft apartment currently has a rent special of $1072/mo. For a one bedroom. Two bedrooms that aren't much larger (934 sq ft) are renting around $1489/mo.

And those are the specials.

That is one reason I had to find a less expensive place. Now granted, rents shot up because Toyota HQ moved in down the street, along with a new FedEx corporate office, so that didn't help at all. The rents are still scary high in that area.

I like Dayton so far. The same apartment here is about 1/3 less.


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