Rents Are Blowing Out and People are Hurting

I

ipatent

Dear Mr. Fed Chair Powell Sir, Rents Are Blowing Out and People are Hurting

In January, the median asking rent for one-bedroom apartments increased by 10% or more in 56 of the 100 largest cities in the US, compared to a year earlier. In 34 of the 100 largest cities, one-bedroom rents spiked by 15% or more. In 20 of those cities, rents spiked by 20% or more, and in 11 of them, rents spiked by 25% or more. Many of the cities with the largest year-over-year rent spikes are medium-size cities with more modest incomes.
 
ipatent said:
Dear Mr. Fed Chair Powell Sir, Rents Are Blowing Out and People are Hurting

In January, the median asking rent for one-bedroom apartments increased by 10% or more in 56 of the 100 largest cities in the US, compared to a year earlier. In 34 of the 100 largest cities, one-bedroom rents spiked by 15% or more. In 20 of those cities, rents spiked by 20% or more, and in 11 of them, rents spiked by 25% or more. Many of the cities with the largest year-over-year rent spikes are medium-size cities with more modest incomes.
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WHEN has renting ever been a good deal for the renters??????????????????????????????????????. ONLY if a renter is in town briefly or just trying an area like a college kid.........................................................................
 
murray t turtle said:
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WHEN has renting ever been a good deal for the renters??????????????????????????????????????. ONLY if a renter is in town briefly or just trying an area like a college kid.........................................................................
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It's supply/demand like anything else. If there are more houses/apartments for rent than there are people looking for somewhere to stay, then renters can get good deals. Of course that's not the case in many places now....maybe in a few big cities people are fleeing.

I know a few RE investors who rent their own houses. They see owning their own house as more of a liability and would rather use the funds to invest in more properties. To be fair, that was about 5-10 years ago, so I don't know if they're still renting in this environment, though.
 
Up until about 15 years ago I always rented, primarily because I could rent a nicer property than I could buy. Then came the 2008 crash and the situation flipped so we bought a house in 2009, at the bottom of the market, that we sold in 2019 when values had nearly doubled.
Less than a year later, in March 2020, I went all in the market with the profits from the house, mostly in TSLA. By the end of the year I had retired.

If you're super disciplined and have the required disposable income, renting is a better strategy. But for most people, owning a house is building capital. The challenge is that after some time, most people aren't willing to risk that capital in risky ventures.
 
MKTrader said:
Just remember, this is the anonymous online world where anyone can claim anything.

Not everyone can buy boatloads of Apple for $0.30/share in 2003 like I did....
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Funnily enough, I had a similar circumstance in March 2020 but not being super smart, even though I was all cash, I just went in a little like a moron.
 
nooby_mcnoob said:
That's what the respect is for. Two great trades, and now you're set.
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Yeah, now the challenge is not losing it all! 2021 was really tough for me, down consistently all year but managed to break even 3 weeks before the end of year. Except I got greedy and loaded on MSTR and CMG for a multi days trade that turned into a substantial loss that I'm going to spend 2022 trying to recover from...
 
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