Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports? meanwhile the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening
indeed the mkt & economy has gone berserk, price of great assets like real estate, dividend paying stocks, or gold never comes down easily, in my humble opinion, buy what you can afford today, and working with a financial advisor certainly helps
@@LionTowercoporation huge gains! most finance youtubers said the housing market would be fine few months back, but its been a major downturn... mind if I look up the advisor guiding you please? in dire need of portfolio allocation
have my portfolio overseen by a US-based wealth advisor ''Colleen Janie Towe'' she's well established, and shows quite a great deal of expertise, you'd most likely find her basic info on the internet.
@@LionTowercoporation Thank you for the assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Janie can provide me with the guidance needed to rectify the situation before it reaches a critical point
I live in Finland and pay 800e rent on a huge apartment with two bedrooms, a garden and Sauna. I pay no energy rates whatsoever- it's all included in my rent. That's electricity, water and Internet as well as any additional services necessary like repairs by the housing agency. All we need is simply focus on our other needs like food. The US has it all wrong
@@cal7121 The United States is not totally capitalist either. It's a blend of all ideologies. Texas live to talk tough but when the grid went down they begged for federal help. When Wall St. f'd up they begged the government for help. When car companies went almost belly up they begged the government for help. The whole capitalism is great theory is pure bullsh*t.
My 675 sq ft apartment with no w/d was 1k Feb 2020.when I moved into my 840 sq ft condo. I purchased my condo 4 weeks before Tampa closed due to the pandemic. My condo was a fixer upper and had been on the market 5 months. I got it for 10k under asking price and 65 percent down on 100k unit. During the last 2 years my HOA fee was raised $10 month. My rent on the old apartment was raised $600 a month. There is not a unit available for purchase today in this 200 unit complex. And what I came in with would have been laughed away because someone else would have paid over asking price - in cash.
Good news, you made a decision and went for it. You did the adult thing and now are a home owner. There is nothing like the peace of mind knowing no one can toss you out of your home or raise your payments. It wasn't luck, YOU made a good decision.
@@blueskygal255 An emotionally prepared adult will have learned skills to make income for mortgage payments. Mortgage payments are usually less than rent and as time goes on WAY less than rent. Take in a roommate and double mortgage payments. I paid off my 30 year loan in 13 years, just have taxes and insurance which is $125. a month..compared to a renter that is paying 8 times that. When you own a home you are motivated to make it work, renters just move on.
The huge hike in rents is probably due in part to the moratorium that the government imposed on landlords which in fact put a lot of small landlords out of business. It’s hard to believe how much some of these increases are.
thank you for seeing the other side of the story. we have not raised our rents more than 3% a month in decades and trust me- our expenses have exceeded that.
Yeah, outrageous rent increase. Correction, tho: "a tiny studio 1beroom" No, bcuz a studio means no bedroom. You sleep in the living room. A small 1 bedroom unit unit is sometimes called a 'jr. 1 bedroom'.
I like those tiny houses but I would need two. Old lady two kids three dogs. My mortgage went up 80 dollar and I wanted to flip. The don’t fix shit and it in a horrible area.
No. Don't look to politicians to solve issues. They only make it worse in the long run in order to please unaware voters (to get reelected) in the short run.
I think some of the increases are so large because of the moratorium that was forced on landlords where they couldn’t raise rents at all so I guess now they’re making up for the lost money and it’s hurting all of us
Rent prices are rising because investment companies are buying up properties and raising the rent on them. The rich are quietly getting into the landlord business. It’s happening all over the country. Look it up.
Wrong the pandemic has nothing to do with it, rent was already out of control long before the pandemic, you weren't paying attention, I was. These prices were going into effect years ago, the pandemic held them at bay for a short period. Once the mandate expired it was off to the races again. The pandemic has exposed the greed of corporations and landlords. Everyone forgot what occurred in 08, it can happen again.
The high rent increase Is the same problem NATIONWIDE. But, anyone retired living on a fixed income must rent affordable or subsidized apartments provided by the State or Federal government, which is economical and the rent does not increase. Additionally, everything else is increasing due to a 7.5% inflation rate. Worst yet, the Social Security Cost of Living (COLA) increased by 5.9% did not help the retirees at all because, at the same time, the Medicare monthly premium went up from $149 to $170 a month. This is the worst economic time we are all suffering!
@@robertjames786 Is correct, but with such an inflation rate, high rent, gas, and groceries costs, there are not many senior citizens that have thousand of dollars saved.
Is easy to say it BUT, the statistics show the average citizen in the United States lives from paycheck to paycheck. The high inflation seen now is not permitting the hard working tax payers to keep a roof over their heads.
I bought a house in 1999 on a 20 year mortgage and 2019 I payed off my mortgage best decision I made in my life now I have found nearly 3 grand a month to save and living on no credit card debt and no loans and no car payment and ready to retire. And now every nickel and dime landlord and two for a penny investors wants to buy it from me but my house is a investment in meeeeeee
Same here, I paid off my house nearly 30 years ago, all that cash went into investments, travel etc rather than worry about increasing rent. Owning your home as early as possible opens up the rest of your life. Beyond having a place to live, you build personal wealth. Anyone old enough to buy property 15 years ago and didn't missed out on the real estate deals of a lifetime.
How many small time landlords that had cheap affordable rent were bankrupted by non-paying tenants due to "covid hardship". 2 years no rental income put a lot of these small-time landlords out of business and guess who bought up the property. You guess it! Big investors renovated the units and doubled the rent!
@I Am Not High those programs would require you to completely forgive the tenant while not collecting the full amount. I say let the small time landlords sell to the mega-corp instead of going through those programs.
@I Am Not High I’m just saying; after all these restrictions of what I can or can’t do with my property I’d rather just convert my property to an airbnb instead of continuing a contract with some clauses. Those forgiveness require you forfeit a few rights & depending on the case may not collect the full amount. F$%k that noise, make more money doing airbnb instead of long term tenants. Tenants should just be airbnb guests
@I Am Not High Here in my county in Florida a landlord must agree to accept 80% of what was owed..write off the 20%..write off late fees AND agree to not evict for 3 to 12 additional months even if the deadbeat doesn't pay a cent...Not to mention that less than 20% of renters who fill out the 38 page application can qualify...BECAUSE they have to PROVE they were unable to pay due to the pandemic ...with the extra unemployment and the stimulus few qualify...If the did it can take another 3 to 6 months to receive funds.
@I Am Not High NO a late fee is a penalty for being late...a discount for paying early is an incentive. You can easily check the parameters for funding in each county ( they are not all the same each organization sets the rules for the county they were awarded) less than 10% of landlords in my county ( Pasco) even accept external funding due to the concessions required.
A lot of people on Social Security, move to different countries that got way cheaper living such as Mexico or even the Philippines rent is only $300 in the cost of food is a lot
As a landlord and knowing other landlords here (Oahu)- The point the mainstream media won’t talk about is this: When the federal and state governments showed us the power they have to prevent evictions from private property they also showed landlords that this is a high risk asset class. We were watching. We were paying attention. You taught us well. Thank you. As With all high risk asset classes come high returns. Thus landlords have to raise rents accordingly. Don’t get me wrong, I love providing a service to nice people and touching the lives of people in a positive way,. A few of my former tenants have learned from me and have bought their own home and I’m super thrilled for them. I love what I do, but I’m not doing this for free. Also MANY landlords just said fuck-you and sold units at a time when demand was highest been (ever?) from the second home / vacation home market. Thanks again federal government for forcing WFH. ( sarcasm) You better come with your A-game now I’m afraid. These low income / marginal credit history borrowers are now locked out of purchases of homes so they have a double whammy 1. Less rentals than before ( thanks to the moratorium effect) and 2. Lending requirements are damn strict since 2008. The bar is raised very high now from a financial lending perspective. Even for me it was a royal pain in the ass the amount of verifications I had to jump though and I’m a banks dream customer. The moratorium had as MUCH more of an effect on SFH prices than interst rates yet you’ll never hear the truth. I’m telling it to you here. Free of charge. You’re welcome.
Thank you F. That is why I search the comments and IGNORE the Main Stream Media. As a small landlord, I was blessed with tenants who paid during the pandemic. The question remains: will a moratorium happen again?
@@Goodkidjr43 thanks Sir. My tenants were/are all good people and I also didnt have any issues although I personally know of 2 folks that did over in Honolulu. 3 rental homes in my neighborhood were sold and the buyers were rich California people escaping that state. 3 less possible accommodations for up and coming youngsters.
The grey area everyone is missing is the "shortage" of housing is not because there are not enough physical structures. It is because corporations are snapping up almost everything that hits the market and landlords making it darn near impossible to rent. Even with good credit, private landlords are requiring 3 to 6 months of the amount of the rent to be liquid in an account wanting to have a security net in case there is another shut down or some other factor that would cause a tenant to not be able to pay the rent. So what we are now seeing is more and more empty rentals. We are also seeing properties flipped by small investors back on the market for sale. These people more than likely took loans out and need to sell the properties to break even. This is another 2008 real estate bust waiting to happen.
Until recently I was a small landlord and I kept my tenants rents low. I sold the building due to the eviction moratorium and rent increase moratorium in Los Angeles. Never going to buy an apartment building again. Any landlord with empty units would be better off to keep them empty.
I own 5 rental units in Sedona, I only rent to retired professionals who have Social Security and have a good retirement account. I've not increased rent in over 6 years. As my tenants move off (die off) I'll start selling the properties as I'm getting older, too. I'd NEVER rent to the working class, they don't take care of the properties like elderly people do.
This is what happens when the government let's people live for free and the landlord took a massive hit. Mortgages still had to be paid. Thank your government for this.
You can get a 1 bedroom condo I. Tucson for 85k. With 20% down, a 30 loan is less than $300 a month.... you're never going to get ahead renting. Buy because renting on social security is a recipe for poverty.
The cost are from when tenants didn’t pay their rent during the moratoriums. Landlords have lost millions of dollars during this time. They couldn’t get in to the properties to maintain the unit. Still it it is all about the tenant who didn’t pay their rent for th last year and a half to two years. 😭
I live in a small city in upstate New York. My rent last year was 722 for a one bed. Next year it will be 1022. That’s a 41% increase. Just sharing the story for others to see.oh and I have a corporate landlord
I couldn't get a mortgae loan in 2019, became homeless, moved to Mexico & got my life threaten everyday by a Mexican that looks like Osama bin Laden's son.
@@sergiorobles7169 in 1492 Arabs got kicked out of Spain & sent to the Western Hemisphere. Makes sense that someone named Yahir Meza Figueroa looks Arab.
It's insane to tell a landlord that they can't rent based on how much money someone makes... that is the single basic rule for renting....someone must make a certain amount over the rent. Otherwise, the landlord is not doing due diligence. Would a bank even consider making a loan without checking income? Would a car dealer make a loan without checking income either?
Yes, absolutely! It’s a common practice when purchasing a car, or buying a house, debt to income must be calculated. Buuuut that is not the primary cause of housing insecurity nowadays, I believe the average income in America has risen 4% but the rent has increased 26%. This is due largely to supply and demand from everyday consumers but also corporate America. When a corporation buys an apartment building and doubles the rent, that will cause housing insecurity. Imagine having a rent that is 30% of your take home, but jumps to 60%, that would cause great financial hardship. Look into black stone, and how they are buying up residential homes and renting them out. it’s an incredible rabbit hole to go down if you have the time.
We will have to do something about this the greed is getting too much. It’s either the government helps us or we start taking things into our own hands
True rents today are growing faster than incomes. But no longer term. Since 2010 rents are up 82% while individual income is up 111% and home prices up 156%. Context is important.
what am I missing here-?- whats incomes got to do with it.? A New Tundra is 30.000 dollars more than the 2015 model I last purchased. The dealership does not give a happy hiny what my income statis is as long as they get their money.
Sometimes folks just have to face the thought of moving to another area where homes are more reasonable. Hint: Try OLD Bullhead City, Arizona. You can STILL buy a mobile home of your own for only $100,000. That’s right, only one hundred thousand, AND that includes the land it sits on, approx. 50’x100’. Seriously, you have the Colorado River a mere walking distance away, with nine gambling casinos on the river bank across the river in Laughlin, Nevada. And we’re only 90 miles south of Vegas. Water taxi’s move people from one casino to the other, for those who don’t drive. There’s plenty of water sports (fishing, jet skies, etc.) and the best Springtime in the nation.
Landlords, not just in Tucson area, have decided in 2022 it's payback time finally. Hence, the squeeze. Sorry to hear about that senior citizen lady, but considering other tenants have been abusing the situation by shirking their rent responsibility, piling up cash while collecting stimulus checks and other rental assistance since this pandemic started back in January 2020-- seriously, did tenants think they would get away scot-free? Glad to hear the retiree lady was able to get help though. But for others out there, there's an alternative to paying high rent: might want to check out vanlife and cheap nomadic RV living. Has become popular among 65+ retirees and millennials alike, now that that movie with Frances Mcdormad has come out. Heck, Arizona is ground-zero for that lifestyle.
When my rent went up from $18,000/mo to $22,000/mo, I did what any normal thinking person would do. I packed my shht and moved to a ghetto. Now my rent is ony $15,000/mo. No matter WHAT your level of income, there are lots of ghettos out there you can afford. Now if you don't want to live around crime and 👤 people, that's going to be a problem in coastal states
Making it illegal for Landlords to rent to someone who cannot afford the rent? This isn’t socialism folks. If you cannot afford the rental unit look elsewhere. Sorry life is sometimes difficult. Don’t screw the landlord. Who do you think maintains the property, pays water utilities and property taxes?
Move to Queretaro, Mexico, where you can afford rent, and many apartments include utilities, WiFi and maid service. Have La Comer deliver your food, and buy a small compact freezer. I moved out of the USA due to deadly crimes, high rent, utilities. It happen to me, so I moved on 11-2-2021. I am saving $850 per month by moving to Mexico, and I will apply for my temp retirement visa. I was tired of defending myself in the USA at 79.
You need to look at the bill that outlawed rent control and see what elected officials voted for it, and specifically who sponsored the bill originally. Perhaps you should go and vote and vote them out. I will bet it was all Republican.
If so, why don't the Democrats revoke it? Trump had the Alaskan pipeline going, Biden quickly stopped it. Trump warned we should be as self sufficient as possible. Now look at our gas prices.
@@calcrappie8507 we have to spend billions at that border to keep illegals at bay. That's money that could go to low income Americans . IAM not racist. Both my parents are immigrants and came to the US legally.
The market responded to moratorium and other violations of property rights has a consequence. Pass what ever law you dream up. Less rights less deposits lower possible rents. You made landlords die off now your mad
I wonder if the moratorium was the plan for REITs to buy up property from smaller landlords. Millions of homes now owned by REIT companies and all are only for rent.
Landlords were just trying tonsurvive but who cared when they paid four times owner occupied taxes collected no rent and had to still pay utilities in my case and had to sell a low income dsvelkpment to paybtaxes and utilities. Cry both sides a river not just yours or god will givs you what you deserve. God bless you
absolutely correct. Did tenants care if the property owner couldn't pay the mortgage when renters sat for 2 years living for free? Keep government out of housing.
Wow. My landlord said she had 100+ tenants across the city that didn't pay for two years. So has had to double all the rents to make cost. I think she is Indian, has over 100 properties in the city.
There are very few "middle income" households here. This is an abomination and we need laws to prevent corporate greed and assure locals of fair rental prices. Laws for rental increase can and should be changed. this would discourage outsiders from displacing people.
What did people think was going to happen after landlords, many mom and pop landlords were forced to let people live in their properties for 2 damn years without receiving payment? The same people whining about landlords being greedy and not caring about people didn’t have anything to say when the government forced landlords to house a bunch of strangers in their rentals some even losing those rentals or being forced to sell them because of that illegal moratorium. I’m a small landlord and my 3 bd 2.5 bath 2 car garage, 2 gas starter wood burning fireplace brick single family home went from $1000 ( way under market value) to $1400 ( still $395 under market value) but I do care about affordable housing for people in my area so that is why I keep rents low but no, I won’t take section 8 and the household must bring in 3x’s the rent amount . For them to try and force landlords to take section 8 and not have the option to require a certain income level is going to backfire just like the moratorium did with these outrageous rents we’re seeing.
I changed my views on this when I offered my "homeless" coworker to stay at my house for the cost of utilities. She said my house was too small, and she wants to live in an area where the rents are > $2K. It is just unrealistic expectations that caused people to be homeless and in debt. The media would love to manipulate emotions to gain viewership but there is always two sides to every story.
The state should really limit out of state and especially overseas investment agencies from buying up our homes. Keep it local so that money goes back into our economy.
23 years ago my landlord went up on my rent 150 dollars middle way through a 1 year and I had a little money saved and I bought a house with 3500 dollars down payment so they did me a favor
if you make the minimum social security of $861.00 dollars, the rent for a studio apartment will be $735.00 .. forget your utilities, you won't be able to pay them in Tucson
I moved to the PNW about 6 years ago. I rented apartments for 2 years then bought a house. I stayed for 2 years then flipped that to a condo. I'm in that sweet spot right before I become a landlord 😂😂😂
I didn't drive new cars or eat at expensive restaurants or go on vacations I saved my money bought a house and land they didn't now thier at mercy of land lords crying expecting tax payers to bail them out you made your bed now lay in it
People are going to start disappearing and walking away from their own lives, severe ties with everybody they know soon because things are getting so bad and nobody can do anything about it.
People need to know that Africa is the future. Still super cheap. If you have the brain, you can develop something there, and be your own boss. Housing is cheap, talking less than $1,000 payment a year. There are other non-applealing factors, but housing is cheap.
I think there will be a rise in seniors committing suicide...already it is ast 18% of the people. I know that is my back up plan in 2046. I will be 70 and retiring at 65. I will live off some savings if I can and get into debt to survive my last 5 years. We pay all this money in taxes and no guarantee to have a roof over our heads that doesn't gouge our income. I need 45% of my take home pay to pay lodging but it is getting to be more and more of a percentage just for shelter. I live in Quebec, Canada so no way am I living in a tent in retirement at -30 celsius winters and even living in a vehicle is not an option.
Give allowed renters to rob them every day for over a year we'll congratulations on your new life. How's rent going folks? Why do you think that is? I'm just as sad for you as you were for landlords being robbed.
Yes, rents need to go up as high as possible, many times when those tenants move out, the cost to fix the wear and tear in the property is much more higher than the deposit itself. People just don't care about the property that they rent, they just trash the place when they move out. I don't rent my properties to section 8 at all, 9 out of 10 times they'll trash the place when they move out, even smell like dog feces and urine when pets are not allowed at all.
I understand your reasoning. Renter's don't treat the place like their own. No respect for managers and landlords. I own my own house now. I never want a roommate. You don't know if they would cooking grease down the drain, etc when you're gone. When I travel and rent a car IAM gentle with it. It keeps costs and repairs down for the rental co. Have a good day.
@@janetdavidson8798 Oh yeah, it's so much more scarier when you rent out the rooms in your house in the US, I rent out a room in my house before and never knew that he was gay because in the ad you cannot say "no gays allowed" you'll be sued.
@@janetdavidson8798 Yes, but he secretly brought his boyfriend into his room when I'm not home. I encountered four different gays in the whole room renting history and no more renting out rooms for almost two years already, scary.
yeah buy a house lol learn your lesson !!!!! what a joke they want to pass a law where you can't ask what a person income is lol to see if they can afford the rent lol
Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports? meanwhile the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening
indeed the mkt & economy has gone berserk, price of great assets like real estate, dividend paying stocks, or gold never comes down easily, in my humble opinion, buy what you can afford today, and working with a financial advisor certainly helps
@@LionTowercoporation huge gains! most finance youtubers said the housing market would be fine few months back, but its been a major downturn... mind if I look up the advisor guiding you please? in dire need of portfolio allocation
have my portfolio overseen by a US-based wealth advisor ''Colleen Janie Towe'' she's well established, and shows quite a great deal of expertise, you'd most likely find her basic info on the internet.
@@LionTowercoporation Thank you for the assistance. My finances have been in disarray, and I have experienced multiple losses in my 401k, IRA, and mutual funds. I hope that Janie can provide me with the guidance needed to rectify the situation before it reaches a critical point
Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily.
I live in Finland and pay 800e rent on a huge apartment with two bedrooms, a garden and Sauna. I pay no energy rates whatsoever- it's all included in my rent. That's electricity, water and Internet as well as any additional services necessary like repairs by the housing agency. All we need is simply focus on our other needs like food. The US has it all wrong
America is a business. It operates on profits first and people last.
@@themostsecretscience6409 which shouldn't happen
Billionaires need more money
Capitalism works.
Socialism isn’t sustainable
@@cal7121 The United States is not totally capitalist either. It's a blend of all ideologies. Texas live to talk tough but when the grid went down they begged for federal help. When Wall St. f'd up they begged the government for help. When car companies went almost belly up they begged the government for help. The whole capitalism is great theory is pure bullsh*t.
This country is a day late & a dollar short when it comes to EVERYTHING......🤔
sounds like your brain is a day late and a dollar short
@@royharper2003 sounds like you're an idiot. Or just another moron with his head up every politicians ass🤔
My 675 sq ft apartment with no w/d was 1k Feb 2020.when I moved into my 840 sq ft condo. I purchased my condo 4 weeks before Tampa closed due to the pandemic. My condo was a fixer upper and had been on the market 5 months. I got it for 10k under asking price and 65 percent down on 100k unit. During the last 2 years my HOA fee was raised $10 month. My rent on the old apartment was raised $600 a month. There is not a unit available for purchase today in this 200 unit complex. And what I came in with would have been laughed away because someone else would have paid over asking price - in cash.
Great timing 🤙🏼
Good for you. You got lucky
Good news, you made a decision and went for it. You did the adult thing and now are a home owner. There is nothing like the peace of mind knowing no one can toss you out of your home or raise your payments. It wasn't luck, YOU made a good decision.
@@eckankar7756 beg to differ .. if you can't keep up your mortgage payments you can easily be tossed from your home.
@@blueskygal255 An emotionally prepared adult will have learned skills to make income for mortgage payments. Mortgage payments are usually less than rent and as time goes on WAY less than rent. Take in a roommate and double mortgage payments. I paid off my 30 year loan in 13 years, just have taxes and insurance which is $125. a month..compared to a renter that is paying 8 times that. When you own a home you are motivated to make it work, renters just move on.
The huge hike in rents is probably due in part to the moratorium that the government imposed on landlords which in fact put a lot of small landlords out of business. It’s hard to believe how much some of these increases are.
thank you for seeing the other side of the story. we have not raised our rents more than 3% a month in decades and trust me- our expenses have exceeded that.
Omg that was awhile ago let it go this is greed.
My rent went from $1000/month to $2,000 with a tiny studio 1beroom/1 bath. We are clearly been priced out of the State.....literally.
Yeah, outrageous rent increase. Correction, tho: "a tiny studio 1beroom" No, bcuz a studio means no bedroom. You sleep in the living room. A small 1 bedroom unit unit is sometimes called a 'jr. 1 bedroom'.
Try buying in (Old) Bullhead.
The greed this people have is disgusting. This should not be happening !
👠 this country is going to hell in a hen basket (for the way they treat the elderly & financially challenge)! awful !
Stop illegals and foreign aid and help our seniors and disabled!
@@jjs777fzr .....and make the RICH pay their taxes, and stop helping the 1% from get more, more more perks!!
The Federal Government should open up Tiny Homes and empty land as part of HUD. See rents drop like stones. These greedy Corporations would go broke.
As a landlord I agree.
I like those tiny houses but I would need two. Old lady two kids three dogs. My mortgage went up 80 dollar and I wanted to flip. The don’t fix shit and it in a horrible area.
Government on all levels is in bed with these greedy corporations.
No. Don't look to politicians to solve issues. They only make it worse in the long run in order to please unaware voters (to get reelected) in the short run.
@@azmike3572 No, it's much easier to just complain than to make the taxpayer paid pols do anything.
One thing for sure!
You wont see media interview landlords about why this hapoened with the real answer
Exactly
boy-oh- howdy
I think some of the increases are so large because of the moratorium that was forced on landlords where they couldn’t raise rents at all so I guess now they’re making up for the lost money and it’s hurting all of us
Exactly they are making us who paid rant the whole time pay for the ones who didn’t it’s bullshit
Well it is risky to hand anyone keys so
Rent prices are rising because investment companies are buying up properties and raising the rent on them. The rich are quietly getting into the landlord business. It’s happening all over the country. Look it up.
@@blessyourheart175 well mom and pops are being forced to sell so who do you think they are being forced to sell TO. All as planned.
Wrong the pandemic has nothing to do with it, rent was already out of control long before the pandemic, you weren't paying attention, I was. These prices were going into effect years ago, the pandemic held them at bay for a short period. Once the mandate expired it was off to the races again. The pandemic has exposed the greed of corporations and landlords. Everyone forgot what occurred in 08, it can happen again.
The high rent increase Is the same problem NATIONWIDE. But, anyone retired living on a fixed income must rent affordable or subsidized apartments provided by the State or Federal government, which is economical and the rent does not increase. Additionally, everything else is increasing due to a 7.5% inflation rate. Worst yet, the Social Security Cost of Living (COLA) increased by 5.9% did not help the retirees at all because, at the same time, the Medicare monthly premium went up from $149 to $170 a month. This is the worst economic time we are all suffering!
@@robertjames786 Is correct, but with such an inflation rate, high rent, gas, and groceries costs, there are not many senior citizens that have thousand of dollars saved.
Is easy to say it BUT, the statistics show the average citizen in the United States lives from paycheck to paycheck. The high inflation seen now is not permitting the hard working tax payers to keep a roof over their heads.
It was worse under trump
@@sashamoore9691 you are delusional and a racist
I bought a house in 1999 on a 20 year mortgage and 2019 I payed off my mortgage best decision I made in my life now I have found nearly 3 grand a month to save and living on no credit card debt and no loans and no car payment and ready to retire. And now every nickel and dime landlord and two for a penny investors wants to buy it from me but my house is a investment in meeeeeee
Congratulations 👏
@@TexasMade903 thanks and It did not happen easily I did with out a lot
Same here, I paid off my house nearly 30 years ago, all that cash went into investments, travel etc rather than worry about increasing rent. Owning your home as early as possible opens up the rest of your life. Beyond having a place to live, you build personal wealth. Anyone old enough to buy property 15 years ago and didn't missed out on the real estate deals of a lifetime.
How many small time landlords that had cheap affordable rent were bankrupted by non-paying tenants due to "covid hardship". 2 years no rental income put a lot of these small-time landlords out of business and guess who bought up the property. You guess it! Big investors renovated the units and doubled the rent!
@I Am Not High those programs would require you to completely forgive the tenant while not collecting the full amount. I say let the small time landlords sell to the mega-corp instead of going through those programs.
@I Am Not High I’m just saying; after all these restrictions of what I can or can’t do with my property I’d rather just convert my property to an airbnb instead of continuing a contract with some clauses. Those forgiveness require you forfeit a few rights & depending on the case may not collect the full amount. F$%k that noise, make more money doing airbnb instead of long term tenants. Tenants should just be airbnb guests
All as planned, EFFF BLACKROCK LARRY FINK
@I Am Not High Here in my county in Florida a landlord must agree to accept 80% of what was owed..write off the 20%..write off late fees AND agree to not evict for 3 to 12 additional months even if the deadbeat doesn't pay a cent...Not to mention that less than 20% of renters who fill out the 38 page application can qualify...BECAUSE they have to PROVE they were unable to pay due to the pandemic ...with the extra unemployment and the stimulus few qualify...If the did it can take another 3 to 6 months to receive funds.
@I Am Not High NO a late fee is a penalty for being late...a discount for paying early is an incentive. You can easily check the parameters for funding in each county ( they are not all the same each organization sets the rules for the county they were awarded) less than 10% of landlords in my county ( Pasco) even accept external funding due to the concessions required.
So they buy the whole complex and they doubled the rent to make the people paying rent to pay for them buying the apartment buildings WOW??????
People will have to move to cheaper cities.
A lot of people on Social Security, move to different countries that got way cheaper living such as Mexico or even the Philippines rent is only $300 in the cost of food is a lot
As a landlord and knowing other landlords here (Oahu)- The point the mainstream media won’t talk about is this:
When the federal and state governments showed us the power they have to prevent evictions from private property they also showed landlords that this is a high risk asset class. We were watching. We were paying attention. You taught us well. Thank you.
As With all high risk asset classes come high returns. Thus landlords have to raise rents accordingly.
Don’t get me wrong, I love providing a service to nice people and touching the lives of people in a positive way,. A few of my former tenants have learned from me and have bought their own home and I’m super thrilled for them. I love what I do, but I’m not doing this for free.
Also MANY landlords just said fuck-you and sold units at a time when demand was highest been (ever?) from the second home / vacation home market. Thanks again federal government for forcing WFH. ( sarcasm)
You better come with your A-game now I’m afraid. These low income / marginal credit history borrowers are now locked out of purchases of homes so they have a double whammy 1. Less rentals than before ( thanks to the moratorium effect) and 2. Lending requirements are damn strict since 2008. The bar is raised very high now from a financial lending perspective. Even for me it was a royal pain in the ass the amount of verifications I had to jump though and I’m a banks dream customer.
The moratorium had as MUCH more of an effect on SFH prices than interst rates yet you’ll never hear the truth.
I’m telling it to you here. Free of charge.
You’re welcome.
Thank you F. That is why I search the comments and IGNORE the Main Stream Media. As a small landlord, I was blessed with tenants who paid during the pandemic. The question remains: will a moratorium happen again?
@@Goodkidjr43 thanks Sir. My tenants were/are all good people and I also didnt have any issues although I personally know of 2 folks that did over in Honolulu. 3 rental homes in my neighborhood were sold and the buyers were rich California people escaping that state. 3 less possible accommodations for up and coming youngsters.
Disagree. I could not evict someone and the govt paid me in full. I lost nothing and it appreciated 30% in value. Soooo zero risk to small investors.
The grey area everyone is missing is the "shortage" of housing is not because there are not enough physical structures. It is because corporations are snapping up almost everything that hits the market and landlords making it darn near impossible to rent. Even with good credit, private landlords are requiring 3 to 6 months of the amount of the rent to be liquid in an account wanting to have a security net in case there is another shut down or some other factor that would cause a tenant to not be able to pay the rent. So what we are now seeing is more and more empty rentals. We are also seeing properties flipped by small investors back on the market for sale. These people more than likely took loans out and need to sell the properties to break even. This is another 2008 real estate bust waiting to happen.
Straight Facts. We were watching and we know better.
Making it impossible for mom and pop landlords to keep their rentals ensures that only corporate landlords will control the market. Good job.
Until recently I was a small landlord and I kept my tenants rents low. I sold the building due to the eviction moratorium and rent increase moratorium in Los Angeles. Never going to buy an apartment building again.
Any landlord with empty units would be better off to keep them empty.
I own 5 rental units in Sedona, I only rent to retired professionals who have Social Security and have a good retirement account. I've not increased rent in over 6 years. As my tenants move off (die off) I'll start selling the properties as I'm getting older, too. I'd NEVER rent to the working class, they don't take care of the properties like elderly people do.
I have 30 rentals in California. Rent to section 8
This is a nationwide problem
And now how is rent situation for renters. It went from decent to free to there is none
This is what happens when the government let's people live for free and the landlord took a massive hit. Mortgages still had to be paid. Thank your government for this.
You can get a 1 bedroom condo I. Tucson for 85k. With 20% down, a 30 loan is less than $300 a month.... you're never going to get ahead renting. Buy because renting on social security is a recipe for poverty.
The cost are from when tenants didn’t pay their rent during the moratoriums. Landlords have lost millions of dollars during this time. They couldn’t get in to the properties to maintain the unit. Still it it is all about the tenant who didn’t pay their rent for th last year and a half to two years. 😭
Where can anyone go! It's crazy these rents!
I live in a small city in upstate New York. My rent last year was 722 for a one bed. Next year it will be 1022. That’s a 41% increase. Just sharing the story for others to see.oh and I have a corporate landlord
I couldn't get a mortgae loan in 2019, became homeless, moved to Mexico & got my life threaten everyday by a Mexican that looks like Osama bin Laden's son.
How are you doing now?
Are u sure u are not in afghanistan?
@@janetdavidson8798 still alive, denounced the Arab colonizer in Mexico but I'm sure nothing will come of it, the colonizer's dad is a police officer.
@@sergiorobles7169 in 1492 Arabs got kicked out of Spain & sent to the Western Hemisphere. Makes sense that someone named Yahir Meza Figueroa looks Arab.
It's insane to tell a landlord that they can't rent based on how much money someone makes... that is the single basic rule for renting....someone must make a certain amount over the rent. Otherwise, the landlord is not doing due diligence. Would a bank even consider making a loan without checking income? Would a car dealer make a loan without checking income either?
Yes, absolutely! It’s a common practice when purchasing a car, or buying a house, debt to income must be calculated. Buuuut that is not the primary cause of housing insecurity nowadays, I believe the average income in America has risen 4% but the rent has increased 26%. This is due largely to supply and demand from everyday consumers but also corporate America.
When a corporation buys an apartment building and doubles the rent, that will cause housing insecurity. Imagine having a rent that is 30% of your take home, but jumps to 60%, that would cause great financial hardship.
Look into black stone, and how they are buying up residential homes and renting them out. it’s an incredible rabbit hole to go down if you have the time.
Laws need to change this is ridiculous
March into work and demand a pay raise!
Wow, rent in Tucson is so cheap. Here in LA most apartments are over $2000 a month.
Many jobs in Arizona pay $10-$12 an hour. Hence the cheap rent. Be interesting to see how this plays out.
Lets see. The City went blue... Rents went up... Your problem.
I'm a landlord of 8 townhouses, and I fucking hate Section 8 tenants.
We will have to do something about this the greed is getting too much. It’s either the government helps us or we start taking things into our own hands
I wish people would have seen this coming. I also told people in 2016 the day after the election. I said I don't have a good feeling about this.
True rents today are growing faster than incomes. But no longer term. Since 2010 rents are up 82% while individual income is up 111% and home prices up 156%. Context is important.
what is the source of this data?
Raises in many companies don't even keep up with the annual increase in the cost of living. 111% increase? lol
Since 2010 my income has increased +170% and housing cost +50%. I'm good.
what am I missing here-?- whats incomes got to do with it.? A New Tundra is 30.000 dollars more than the 2015 model I last purchased. The dealership does not give a happy hiny what my income statis is as long as they get their money.
Not social security. The elderly are being evicted. I don't plan to be alive past my 40s due to this.
Tell me what the benifits of renting are? Outside of being able to move on a whim. Rent will always go up!
Sometimes folks just have to face the thought of moving to another area where homes are more reasonable. Hint: Try OLD Bullhead City, Arizona. You can STILL buy a mobile home of your own for only $100,000. That’s right, only one hundred thousand, AND that includes the land it sits on, approx. 50’x100’. Seriously, you have the Colorado River a mere walking distance away, with nine gambling casinos on the river bank across the river in Laughlin, Nevada. And we’re only 90 miles south of Vegas. Water taxi’s move people from one casino to the other, for those who don’t drive. There’s plenty of water sports (fishing, jet skies, etc.) and the best Springtime in the nation.
Landlords, not just in Tucson area, have decided in 2022 it's payback time finally. Hence, the squeeze. Sorry to hear about that senior citizen lady, but considering other tenants have been abusing the situation by shirking their rent responsibility, piling up cash while collecting stimulus checks and other rental assistance since this pandemic started back in January 2020-- seriously, did tenants think they would get away scot-free?
Glad to hear the retiree lady was able to get help though. But for others out there, there's an alternative to paying high rent: might want to check out vanlife and cheap nomadic RV living. Has become popular among 65+ retirees and millennials alike, now that that movie with Frances Mcdormad has come out. Heck, Arizona is ground-zero for that lifestyle.
Tenants in Scotland have found it's hard to get away with ANYTHING scot-free!
These money hungry monsters will eat crow when the water runs out!
When my rent went up from $18,000/mo to $22,000/mo, I did what any normal thinking person would do. I packed my shht and moved to a ghetto. Now my rent is ony $15,000/mo.
No matter WHAT your level of income, there are lots of ghettos out there you can afford.
Now if you don't want to live around crime and 👤 people, that's going to be a problem in coastal states
Making it illegal for Landlords to rent to someone who cannot afford the rent? This isn’t socialism folks. If you cannot afford the rental unit look elsewhere. Sorry life is sometimes difficult. Don’t screw the landlord. Who do you think maintains the property, pays water utilities and property taxes?
Look up cali housing prices. I'd be happy with 970 rent. I hope her the best
There are tons of places with $970 rent, they just aren't in the richy rich areas where you want to live
Move to Queretaro, Mexico, where you can afford rent, and many apartments include utilities, WiFi and maid service. Have La Comer deliver your food, and buy a small compact
freezer. I moved out of the USA due to deadly crimes, high rent, utilities. It happen to me, so I moved on 11-2-2021. I am saving $850 per month by moving to Mexico, and I will apply for
my temp retirement visa. I was tired of defending myself in the USA at 79.
What happens when you vote 🗳 on emotions for a Potato 🥔 Head! We tried warning you but the tweets… 😂😂😂
FJB
Potato head is about to get us in another world war
You need to look at the bill that outlawed rent control and see what elected officials voted for it, and specifically who sponsored the bill originally. Perhaps you should go and vote and vote them out. I will bet it was all Republican.
All the millions of illegals still pouring across the open Biden Border have nothing to do with the supply/demand equation for rental housing!
It wasn't republicans who got us in the mess we are in today (at blazing speed) and it wasn't republicans who created 2008. it was the dems.
If so, why don't the Democrats revoke it? Trump had the Alaskan pipeline going, Biden quickly stopped it. Trump warned we should be as self sufficient as possible. Now look at our gas prices.
@@calcrappie8507 we have to spend billions at that border to keep illegals at bay. That's money that could go to low income Americans . IAM not racist. Both my parents are immigrants and came to the US legally.
Really good point about that significant raise is Money COMING OUT OF their revenue-- restaurants, etc.
The market responded to moratorium and other violations of property rights has a consequence. Pass what ever law you dream up. Less rights less deposits lower possible rents. You made landlords die off now your mad
Exactly. I quit the business.
I wonder if the moratorium was the plan for REITs to buy up property from smaller landlords. Millions of homes now owned by REIT companies and all are only for rent.
@@eckankar7756 exactly
Bingo.
Landlords were just trying tonsurvive but who cared when they paid four times owner occupied taxes collected no rent and had to still pay utilities in my case and had to sell a low income dsvelkpment to paybtaxes and utilities. Cry both sides a river not just yours or god will givs you what you deserve. God bless you
absolutely correct. Did tenants care if the property owner couldn't pay the mortgage when renters sat for 2 years living for free? Keep government out of housing.
Wow. My landlord said she had 100+ tenants across the city that didn't pay for two years. So has had to double all the rents to make cost.
I think she is Indian, has over 100 properties in the city.
Public Assistance was never intended or designed to be a career choice
I own 3 properties in Hawaii off the grid. I charge $400 a month for a private lot with a small cabin. Covers my mortgage.
Everyone! Buy a home! You lock in the payment amount for 30 yrs. You won’t have to worry about rent increases this way. It’s up to you. You decide.
Who tf has money to buy a home anymore? A 600sq ft house now costs 200,000USD. That's an apartment size basically.
There are very few "middle income" households here. This is an abomination and we need laws to prevent corporate greed and assure locals of fair rental prices. Laws for rental increase can and should be changed. this would discourage outsiders from displacing people.
Welcome to Biden America
How's it Biden fault? Rent prices been going up for years. Isn't Arizona a Red State.
@@TexasMade903 are you kidding how is it Biden‘s fault and true the rant was going up but not like now
This is a worldwide situation. It's not just the United States but everywhere.
What did people think was going to happen after landlords, many mom and pop landlords were forced to let people live in their properties for 2 damn years without receiving payment? The same people whining about landlords being greedy and not caring about people didn’t have anything to say when the government forced landlords to house a bunch of strangers in their rentals some even losing those rentals or being forced to sell them because of that illegal moratorium.
I’m a small landlord and my 3 bd 2.5 bath 2 car garage, 2 gas starter wood burning fireplace brick single family home went from $1000 ( way under market value) to $1400 ( still $395 under market value) but I do care about affordable housing for people in my area so that is why I keep rents low but no, I won’t take section 8 and the household must bring in 3x’s the rent amount . For them to try and force landlords to take section 8 and not have the option to require a certain income level is going to backfire just like the moratorium did with these outrageous rents we’re seeing.
Yeah because eviction moratorium
I changed my views on this when I offered my "homeless" coworker to stay at my house for the cost of utilities. She said my house was too small, and she wants to live in an area where the rents are > $2K. It is just unrealistic expectations that caused people to be homeless and in debt. The media would love to manipulate emotions to gain viewership but there is always two sides to every story.
Disgusting.
The state should really limit out of state and especially overseas investment agencies from buying up our homes. Keep it local so that money goes back into our economy.
23 years ago my landlord went up on my rent 150 dollars middle way through a 1 year and I had a little money saved and I bought a house with 3500 dollars down payment so they did me a favor
At 79 years of age she should have been charged a sliding scale for her monthly rent.
People all across the country are catching it and can't afford to live anywhere
You'll own nothing and be happy.
We all need shelter
if you make the minimum social security of $861.00 dollars, the rent for a studio apartment will be $735.00 .. forget your utilities, you won't be able to pay them in Tucson
This is evil. No other way to describe it.
what does your financial issue means to a tax appraisor
You can't get water from a rock. These companies eventually will wind up with properties they can't rent.
Ducey needs to address this housing issue instead of fixating on abortion. Abortion isn't Arizona citizens main concern!!!
I moved to the PNW about 6 years ago. I rented apartments for 2 years then bought a house. I stayed for 2 years then flipped that to a condo. I'm in that sweet spot right before I become a landlord 😂😂😂
I didn't drive new cars or eat at expensive restaurants or go on vacations I saved my money bought a house and land they didn't now thier at mercy of land lords crying expecting tax payers to bail them out you made your bed now lay in it
How are these housing investors gonna make money if the rent is unaffordable
Well I guess you'll see many more homeless people.
The rents cheap in Tucson, if you get a tent 😂
People are going to start disappearing and walking away from their own lives, severe ties with everybody they know soon because things are getting so bad and nobody can do anything about it.
Greed is our American trait.... sad...
I stayed in my suv and got mad stacks
Rent control now!!
Government work for corporation...not people
I’m sure the GOP will get right on help out then little guy.
to many people coming to the US not enough housing
People need to know that Africa is the future. Still super cheap. If you have the brain, you can develop something there, and be your own boss. Housing is cheap, talking less than $1,000 payment a year. There are other non-applealing factors, but housing is cheap.
I think there will be a rise in seniors committing suicide...already it is ast 18% of the people. I know that is my back up plan in 2046. I will be 70 and retiring at 65. I will live off some savings if I can and get into debt to survive my last 5 years. We pay all this money in taxes and no guarantee to have a roof over our heads that doesn't gouge our income. I need 45% of my take home pay to pay lodging but it is getting to be more and more of a percentage just for shelter. I live in Quebec, Canada so no way am I living in a tent in retirement at -30 celsius winters and even living in a vehicle is not an option.
Organize. *Change the laws.* Your power is in your numbers. *There are more renters than landlords.* You need rent control.
Rent control equals rental property shortage. Price controls always worsen the problem long-term
Give allowed renters to rob them every day for over a year we'll congratulations on your new life. How's rent going folks? Why do you think that is? I'm just as sad for you as you were for landlords being robbed.
Yeah just buy a house like the anchor did....
Throw the bums out.
But they don't raise our wages.
Who said life was fair?
California: you're welcome
Thank your awesome Democrats in charge today and yall thought the Republicans were for the rich 🤣
they both only serve the interests of the capitalist class, never the workers. wake up and organize.
omg- personal drama.
"their homes"
There are solutions. Good effectivs solutions dont cost one cent
What’s the point of raising rent and evict people? Do they expect people with more money to rent from them?
Don't rent in usa!
Been there in 2021
Yes, rents need to go up as high as possible, many times when those tenants move out, the cost to fix the wear and tear in the property is much more higher than the deposit itself. People just don't care about the property that they rent, they just trash the place when they move out. I don't rent my properties to section 8 at all, 9 out of 10 times they'll trash the place when they move out, even smell like dog feces and urine when pets are not allowed at all.
I understand your reasoning. Renter's don't treat the place like their own. No respect for managers and landlords. I own my own house now. I never want a roommate. You don't know if they would cooking grease down the drain, etc when you're gone. When I travel and rent a car IAM gentle with it. It keeps costs and repairs down for the rental co. Have a good day.
@@janetdavidson8798
Oh yeah, it's so much more scarier when you rent out the rooms in your house in the US, I rent out a room in my house before and never knew that he was gay because in the ad you cannot say "no gays allowed" you'll be sued.
Did he mind his own business and pay you rent on time ?
@@janetdavidson8798
Yes, but he secretly brought his boyfriend into his room when I'm not home. I encountered four different gays in the whole room renting history and no more renting out rooms for almost two years already, scary.
@@kyoung5600 I wouldn't like that either. Did he leave the place clean when he left ?
yeah buy a house lol learn your lesson !!!!! what a joke they want to pass a law where you can't ask what a person income is lol to see if they can afford the rent lol
Okay... at least this lady has a son. Interview someone who has no one...