My Rent Will Increase By 10% September First.

Yes, I get many fires here as well. One came so close to my home. It burned 47,000 acres.
Most people around here can't afford Homeowner's insurance either.
I could see the flames from my yard. I know, it's scary.
That must be terrifying! It's scary just watching it on the news. I hope you and your home will remain safe Gaer!
 

No Knight. Jersey City went through a revitalization period, expanded it's luxury rental market and is trying to lure sophisticated, career people as renters. Their luxury buildings offer many desireable amenities. They tout an active lifestyle, easy access public transportation, including to NYC as well and some have water views which helps justify the high prices. One of my (some might say weird) hobbies is looking through apartment listings in various cities from time to time. I have to admit, even with the ridiculously high prices, some of those apartments are gorgeous and I'd love to have those amenities.

Here is a sampling of Jersey City listings: 1 BR 1 BA $4,451 (675 sq ft) 2 BR 1 BA $6,617 and 2 BR 2 BA $11,414!! Ridiculous, right?! Several months ago I posted a thread about a young couple living in Jersey City who were paying $4,000 a month, but I can't find it now. I believe they stated that they had a lot more space for the money than if they lived in NYC. JC rents are rivaling the infamous Bergen County rents. In fact, recently Hudson County, where JC is located, was named the most expensive county to live in.
There's also many areas of J.C. that are 1 step above slums.
My son & his wife lived in 1 such area.
I often wonder how that works,renting in a beautiful, rehabbed building but the bad spots are less than a mile away.
 
Terrible, for many people. I researched rental prices and availability across Canada. In most places (even "nothing" towns), a bachelor or 1-bedroom apartment costs 60%-100% of my income.

In cities like Toronto and Vancouver, rents are even higher. In many places across the country, there are no vacancies, and waiting lists are long.

I ended up moving to an isolated boom town that went bust. There are lots of vacant apartments, and rents are low. Living here is not ideal, and sometimes people advise me to leave. But I really can't move anywhere else in this country. Not if I want to eat.

Moving to a "depressed area" is something to consider.
NorthernLight:
Doesn't Canada have any low income helpers - govt. programs to subsidize lower income people?
 

Around this burg, new subdivisions are being built "to rent" not to buy. Builders organizations are building brand new houses for the rental market only! As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also. He says "too many people in the world".
 
There's also many areas of J.C. that are 1 step above slums.
My son & his wife lived in 1 such area.
I often wonder how that works,renting in a beautiful, rehabbed building but the bad spots are less than a mile away.
Well after all Jersey City is a city. We see this in other urban areas as well. I don't know how that works... I guess people just become adept at avoiding those areas, especially if they own cars and/or where they need to be is in another direction away from the ghetto areas.
 
Around this burg, new subdivisions are being built "to rent" not to buy. Builders organizations are building brand new houses for the rental market only! As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also. He says "too many people in the world".

I didn't know that.
I'm surprised that they feel they will make out better renting, rather than selling ... always seemed like the 2nd choice in the past. ??
 
Around this burg, new subdivisions are being built "to rent" not to buy. Builders organizations are building brand new houses for the rental market only! As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also. He says "too many people in the world".
That's an outrage! This is why I say again, our legislatures care not one bit about the poor working person. They allow this to happen. There is no damn American Dream. Just money!!!

And again, as I learned from posters on this sub, building is done for profit, not the needs of the community.
 
NorthernLight:
Doesn't Canada have any low income helpers - govt. programs to subsidize lower income people?
There is a rent subsidy program for seniors (provincial I think). I did the calculations, and the most I could get would be CAD 250. Not much help if rent is $1000 more than I can afford.

And that's assuming I could get the subsidy. The federal government messed up my retirement pensions for more than a year. Very stressful. I don't want to go through anything like that again.
 
I didn't know that.
I'm surprised that they feel they will make out better renting, rather than selling ... always seemed like the 2nd choice in the past. ??
New money is always coming in this area - mainly from California and New York I think. These new subdivisions have retention ponds and present growth issues for our fire dept which is rural. Hub donates his time to give back, and as a previous project engineer he is now engaged on various new fire stations, in order to offer timely response to all these new residents.

It seems like a circle...people sell and move out of states where their home equity grew in staggering amounts. They can sell out and come to areas like this that are offering the nearness of metro shopping and the beauty of nature and country. Seems to be an unlimited stream of "ready renters" I call them - paying 3 and 4 grand a month for a new home in a new subdivision. This also messes up the local rental pricing structure, of course. Our rents have always been moderate for what people have received for same.
 
It’s depressing. Our rental vacancy rate for the whole valley is less than one %. What is available is high priced. It’s also a tourist Mecca so many places are built for seasonal living.

Building new structures is expensive. No private company is going to do it without making a profit.
 
It’s depressing. Our rental vacancy rate for the whole valley is less than one %. What is available is high priced. It’s also a tourist Mecca so many places are built for seasonal living.

Building new structures is expensive. No private company is going to do it without making a profit.
You are absolutely right. They will build for max profit. It's really getting out of hand though and hurting people.
 
New money is always coming in this area - mainly from California and New York I think. These new subdivisions have retention ponds and present growth issues for our fire dept which is rural. Hub donates his time to give back, and as a previous project engineer he is now engaged on various new fire stations, in order to offer timely response to all these new residents.

It seems like a circle...people sell and move out of states where their home equity grew in staggering amounts. They can sell out and come to areas like this that are offering the nearness of metro shopping and the beauty of nature and country. Seems to be an unlimited stream of "ready renters" I call them - paying 3 and 4 grand a month for a new home in a new subdivision. This also messes up the local rental pricing structure, of course. Our rents have always been moderate for what people have received for same.
When I lived in Washington state they mainly blamed California for the increase in rental and property prices.

My area used to be rather affordable especially compared to much of the state. And while it's not like the San Francisco bay area or southern California, it's getting out of hand here also.
 


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