Obscene rent cost

Traveler said:
ClassicRocker,
That is very near one of my old stompin' grounds. I lived on Bannock St., in Englewood. Do you know it where that is ?
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Actually, no. We lived in an apartment in Englewood on Caley St., a couple of blocks from the old Coors Amphitheater, before buying the house in Parker. We could hear concerts at the Amphitheater. One of them was ZZTop and another was Fleetwood Mac

From what we understand, the entire area has grown enormously.
 

We've been living in the "bungalow" we are in since Jan 2009. We really, really love the 1-story type we have. Almost like living in a lake cottage, but (unfortunately) no lake.

Actually there are those, older folks, that have lived here much longer. One lady has been here for over 20 years.

Problems with moving too much, like many do when living in apartments, is...........getting your mail correctly. Don't want to be late in getting credit card bills. Then, there's the cost of moving. We have to use a moving company. Not cheap, but definitely can't do it ourselves and have no friends or relatives to help us. So, we've simply paid the yearly rent increase and now, finally, getting things together to move out of Florida.....again...........finally.
 

As a landlord with rental properties, I must defend the rents that are going up. I only have raised my rents because the taxes on my properties have skyrocketed! In one year, the taxing authority, here, saw fit to appraise each of my houses at $70K more than the previous year!!! These are seventy year old houses with no major improvements for that tax year. This is insanity! When my taxes go up, I am forced to raise my rents. As it stands, after State Real Estate Taxes and paying the IRS on rent income, I am left with very little. If I didn't raise my rents, I'd have nothing to show for owning these properties.
 
treeguy64 said:
As a landlord with rental properties, I must defend the rents that are going up. I only have raised my rents because the taxes on my properties have skyrocketed! In one year, the taxing authority, here, saw fit to appraise each of my houses at $70K more than the previous year!!! These are seventy year old houses with no major improvements for that tax year. This is insanity! When my taxes go up, I am forced to raise my rents. As it stands, after State Real Estate Taxes and paying the IRS on rent income, I am left with very little. If I didn't raise my rents, I'd have nothing to show for owning these properties.
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I am sure you home insurance has also gone up!!
 
Real estate companies are continually trying to buy up private homes in the area. I get offers several times . a year. I bought my house in 1978 for 41,000. It's now worth over $260,000. I made the final payment on it in 2002. I'm hoping to leave it to my daughter and her son. It is probably the only way they will ever be able to have their own house. Portland, Or - just across the river has become the city of the elites. Rent there is outrageous - mainly due to Californians fleeing the burgeoning housing costs down there. They brought in a fair amount of money and could afford higher housing costs - which ultimately drove up costs there. Many are now coming across. One bedroom costs here are $1500 to 1800/month now. the river to here and driving housing cost up here. In addition water, sewer, and electricity costs have skyrocketed. Real estate taxes have been going up every year. The growth in this area is astronomical. I go in some areas of the city and don't recognize it at all.
 
Toomuchstuff said:
Got $800,000 ? People are clamoring for this "fixer-upper" ..........

http://www.newser.com/story/257776/home-destroyed-by-fire-could-be-yours-for-800k.html
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Certainly. It's not the building; it's the location. Being able to live within a couple of miles of where one works is extremely desirable. And Google Village is a massive project; if it pans out it will be a tremendous advantage to be little more than walking or biking distance from it.

For decades out here in the coastal areas, it's the lot and location of such that determines the worth, not the building on it. The building is considered almost incidental. There are many ways to erect a building.

There's no way to make more land in a geographically restricted coastal region.
 
My life in San Diego began in 1945. I was born in LA in'36. People with money decided to come to California and guys like me could no longer afford to stay where they were born and raised. I still love San Diego but it's outta my reach...
 
single so renting has been less of a problem.... up hereya in backwoods montana rent for my mobile is just under $400 a month which includes the water,garbage,sewer. the landlord has several 2 bd apts also and they are 10 bucks less. all have been here for a good many years and are not in the best of condition but then.....
outlying areas I rented a duplex for $300 with water/garbage/sewer but although the water tested good it tasted off and the sewer was a septic tank. landlord let the property go for back taxes now it sits empty. lived in portland or but most of the cheap sro hotels have been torn down to build newer low income housing which is not very low...
once rented a 20x25 apt in shelton wa for $250 back in the 70's and it now rents for $525 which is under the local avg of $697. old hunting camp turned rv park in lake city fl used to have spaces for $300 included everything....
 
fmdog44 said:
How does anyone save money to buy a home paying super high rent? It's a bottomless pit.
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For sure....Landlords get rich, and all the tenants have to show for it is a stack of rent receipts. But, since new housing construction is becoming a rarity, around most cities, the simple rules of Supply and Demand will continue to drive housing and rental costs higher.
 
Don M. said:
For sure....Landlords get rich, and all the tenants have to show for it is a stack of rent receipts. But, since new housing construction is becoming a rarity, around most cities, the simple rules of Supply and Demand will continue to drive housing and rental costs higher.
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LOL! I wish what you posted was true. I can't get rich off my rents because the real estate taxes go up faster than I can raise rents! Also, in my town, housing construction is the exact opposite of rare. New complexes and houses are constantly being built, here, around the clock! Forested areas become eye sore apartment cities in less than a month's time.
 
treeguy64 said:
LOL! I wish what you posted was true. I can't get rich off my rents because the real estate taxes go up faster than I can raise rents! Also, in my town, housing construction is the exact opposite of rare. New complexes and houses are constantly being built, here, around the clock! Forested areas become eye sore apartment cities in less than a month's time.
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Texas is somewhat unique, in that it is the fastest growing State in the nation....population wise. Much of the growth in Texas is probably due to its favorable attitude towards industry, and its reasonably low tax rates. Plus, the nations ongoing need for oil is a solid foundation for Texas. At least Texas has land to expand on compared to some of the cities like NY and San Francisco which are constantly trying to squeeze more people into ever shrinking square footage.

https://www.census.gov/library/stories/2017/08/texas-population-trends.html
 

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