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Its almost like America is turning into the very place people left that led to the birth of this nation.
52% of Young Adults (18-29) Live W/ Their Parents: The Highest Rate Ever Surpassing Even the Great Depression
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This is happening in Vegas?! When the Unemployment was close to 35%? FOH with that BS. WTF these landlords thinking?
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- Mar 22, 2003
This is happening in Vegas?! When the Unemployment was close to 35%? FOH with that BS. WTF these landlords thinking?
Sounds like they are getting it
RustyShackleford
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There are many things driving it. If it was just a supply-demand thing with locals, rent would be dropping but we got:This is happening in Vegas?! When the Unemployment was close to 35%? FOH with that BS. WTF these landlords thinking?
-Migration from Cali. Remote workers moving into the state so they can take advantage of the tax code.
-The people do not take up rental units, they are buying up houses. Relative to where they are coming from, even Vegas at its most expensive is cheaper than what they are used to
-Because they are renting, retal occupancy is high. Landlords like that. Second, because they are buying up houses, locals that used to transition from renting to buying homes are stuck in apartments. So all around. tons of demand, not enough supply. The housing stock is at an all-time low in Vegas.
-Then with the eviction ban, a lot of people that got hit hard by the lockdown weren't paying rent, landlord just passed on all that lost money to people who are paying. Even worse, some of these landlords don't want the rental assistance money. I mean the state has been slow to be getting it out, but landlords want to increase rents, be able to kick people out, then they want the state government to reimburse them what they "lost" without them keeping people in housing units of lower rent for others. Some real wicked ****
-There are a ton of institutional buyers. Pension funds, hedge funds, international investors all buying up homes like crazy.
-The usual people buying second homes in Vegas
-Then we have a storage of construction workers. So permits can be issues but some projects take a while because there is so much construction going on in Vegas. This is getting better though.
So yeah, from the outside it might seem like landlords are wildin (and in some ways they). Some of these dudes are ruthless. Kicking out handicapped seniors from places they have lived in for over a decade. But **** is all bad in Vegas from multiple angles.
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NIMBYism is a huge problem in San Francisco since our land-size is limited as hell and the only way to expand and provide adequate housing is to build up. But a **** load of residents and politicians try to 'block' every project meant to mend the housing shortage. They want their views "unblocked," they don't want their neighborhoods crowded, they don't want section 8 people invading, etc, etc.
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Kinda similar to what happened in Queens, NY when Amazon tried to come in and create thousands of jobs. You had all these left-winged liberals blocking it. I keep telling these fools, ****'s expensive because there's a shortage of housing. You build more housing, **** gets cheaper.
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I live in a community of duplexes in OKC, 4 bed 2 bath w 2 car garage, I paid $1400 when i first moved here Aug 2020, the neighbors on the other half just moved out and they had that half listed for 1900. I got to renew and they kept me at 1400 just to keep it simple
But yea I am on the black part of town, literally MLK blvd and Fredderick Douglas High like a block away, used to be somewhat considered undesirable. All of the suddens, "they" realized that tales of the ghetto and crime and black people being this and that were largely exagerrated, and yet due to that perception they can get more propoerty for the price out here and it's close within a mile to downtown, the OU Medical school/ hospital buildings, Downtown/Bricktown/Deep Duece which are the central entertainment/business districts and Deep Duece especially used to literally be an all black part of town where Jazz/Blues musicians used to stay before integration.
So like everywhere else in the country, you seeing Breweries, $10 coffee shops, Ax throwing lounges, boba tea shops, $30 ramen noodle spots, etc. and all these high end type of places for upper middle class mostly yuppie whites to congregate spring up and they're buying up the buildings and with help from the city and now that we are attracting a "different crowd" to this part of town, they want to build a new community center, and fix the roads, etc.
Like this example here, love the idea to turn that building into something useful it was just wasted potential and an eye sore, but why name some apartments after Elvis Pressley in the black part of town, so much so it's literally across the street from a Black Arts museum? They are throwing up massively overpriced apartments (like $2000 for a 2 bedroom) and then homes for purchase (like this one or this one or this entire row of triplex rowhomes that doesn't seem like the occupancy is matching the demand so Idk what scam is afoot there that they'd build so many 1m+ homes with so many they just built still on the market, but you can see evidence of money moving into town and the same migration of people from higher C.O.L parts of the country.
www.news9.com
History of Deep Deuce
But yea I am on the black part of town, literally MLK blvd and Fredderick Douglas High like a block away, used to be somewhat considered undesirable. All of the suddens, "they" realized that tales of the ghetto and crime and black people being this and that were largely exagerrated, and yet due to that perception they can get more propoerty for the price out here and it's close within a mile to downtown, the OU Medical school/ hospital buildings, Downtown/Bricktown/Deep Duece which are the central entertainment/business districts and Deep Duece especially used to literally be an all black part of town where Jazz/Blues musicians used to stay before integration.
So like everywhere else in the country, you seeing Breweries, $10 coffee shops, Ax throwing lounges, boba tea shops, $30 ramen noodle spots, etc. and all these high end type of places for upper middle class mostly yuppie whites to congregate spring up and they're buying up the buildings and with help from the city and now that we are attracting a "different crowd" to this part of town, they want to build a new community center, and fix the roads, etc.
Like this example here, love the idea to turn that building into something useful it was just wasted potential and an eye sore, but why name some apartments after Elvis Pressley in the black part of town, so much so it's literally across the street from a Black Arts museum? They are throwing up massively overpriced apartments (like $2000 for a 2 bedroom) and then homes for purchase (like this one or this one or this entire row of triplex rowhomes that doesn't seem like the occupancy is matching the demand so Idk what scam is afoot there that they'd build so many 1m+ homes with so many they just built still on the market, but you can see evidence of money moving into town and the same migration of people from higher C.O.L parts of the country.
NE OKC Development Draws Concern After Some Residents Say Project Doesn’t Reflect The Community
While residents welcome development, local activist and rapper Jabee Williams said the eastside community wants to feel included in the future.
History of Deep Deuce
RustyShackleford
Supporter
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- Jul 20, 2009
The issue I had with the Amazon thing is that they were letting them move in without addressing the housing crunch it would cause.
The housing should have been planned along with them coming in, so even the advocates of the move were ignoring the effects Amazon being in town was about to have.
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- May 8, 2012
Yeah, that was the elephant in the room when that was all going down. No one wanted to address the housing for these newly arrived 6-figure earners.
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- Oct 10, 2013
I live in a community of duplexes in OKC, 4 bed 2 bath w 2 car garage, I paid $1400 when i first moved here Aug 2020, the neighbors on the other half just moved out and they had that half listed for 1900. I got to renew and they kept me at 1400 just to keep it simple
But yea I am on the black part of town, literally MLK blvd and Fredderick Douglas High like a block away, used to be somewhat considered undesirable. All of the suddens, "they" realized that tales of the ghetto and crime and black people being this and that were largely exagerrated, and yet due to that perception they can get more propoerty for the price out here and it's close within a mile to downtown, the OU Medical school/ hospital buildings, Downtown/Bricktown/Deep Duece which are the central entertainment/business districts and Deep Duece especially used to literally be an all black part of town where Jazz/Blues musicians used to stay before integration.
So like everywhere else in the country, you seeing Breweries, $10 coffee shops, Ax throwing lounges, boba tea shops, $30 ramen noodle spots, etc. and all these high end type of places for upper middle class mostly yuppie whites to congregate spring up and they're buying up the buildings and with help from the city and now that we are attracting a "different crowd" to this part of town, they want to build a new community center, and fix the roads, etc.
Like this example here, love the idea to turn that building into something useful it was just wasted potential and an eye sore, but why name some apartments after Elvis Pressley in the black part of town, so much so it's literally across the street from a Black Arts museum? They are throwing up massively overpriced apartments (like $2000 for a 2 bedroom) and then homes for purchase (like this one or this one or this entire row of triplex rowhomes that doesn't seem like the occupancy is matching the demand so Idk what scam is afoot there that they'd build so many 1m+ homes with so many they just built still on the market, but you can see evidence of money moving into town and the same migration of people from higher C.O.L parts of the country.
NE OKC Development Draws Concern After Some Residents Say Project Doesn’t Reflect The Community
While residents welcome development, local activist and rapper Jabee Williams said the eastside community wants to feel included in the future.
History of Deep Deuce
OKC / Edmond / places outside the OKC boarder are weird. The demographics sometimes don’t fit. You got people with money that want to live like trailer trash or city people that want to look country making their house look like trash. Droves prices all over the place yet still look run down. The nicer places are almost set in stone because it’s near a lake or down town. Everywhere else is a dice roll with what you pay vs what you actually get. Really have to do the research on the house too. Lots of old crappy houses just repainted and refloored
RustyShackleford
Supporter
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If anyone is interested in learning about how bad America's housing policy is, without getting in the weeds of Urban Economics, I suggest reading this writer's work...
www.vox.com
Jerusalem Demsas Profile and Activity - Vox
Vox is a general interest news site for the 21st century. Its mission: to help everyone understand our complicated world, so that we can all help shape it. In text, video and audio, our reporters explain politics, policy, world affairs, technology, culture, science, the climate crisis, money...
www.vox.com
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- Jul 18, 2013
Amazon's plans were undoubtedly going to make things in LIC worse, not better
They never even properly addressed the criticisms. Their answer to everything was "jobs".
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- Sep 12, 2014
I think real estate as a vehicle for investment has contributed to this.
Buy a condo, airbnb it, payoff the mortgage, rinse and repeat.
Drives up the price of rentals, stagnant wages, student loans, how is anybody gonna afford a home?
Buy a condo, airbnb it, payoff the mortgage, rinse and repeat.
Drives up the price of rentals, stagnant wages, student loans, how is anybody gonna afford a home?
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- Mar 5, 2005
Are things any better in Canada?
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I live in the JFK district like 2 blocks East of OU Med. Love it. I did live in Bricktown/Deep Deuce before this, right across the alley from Crabtown. They had some loft condos carved upstairs of this real estate building across from the Bricktown Police station. But this is much better because while I am not dead center downtown (used to be able to open my julienne windows on weekends and hear all the city noise), I am literally a mile away so like 3 minutes away at best and dont have to massively overpay like I was, plus I had to pay $60 a month for parking.
RustyShackleford
Supporter
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I don't live in Canada but from what I have read, it is just as bad if not worse.
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- Sep 12, 2014
**** no, it’s worse.
Half a milli for a 1 bdrm easy
20% down
who has $100k just chilling in their bank account?
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That's too bad, I thought Canada might have been more sensible in this regard. I do overhear about how expensive housing is in Vancouver, I'm guessing it's probably the same in Toronto, Montreal, and Calgary too.
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- Sep 12, 2014
Not as bad in Calgary and Montreal. But since the pandemic and WFH people are flocking to the far out places like Nova Scotia, Winnipeg etc.
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- Mar 5, 2005
With working remotely becoming a regularity with some companies, I could imagine a number of people moving to cheaper, more rural(suburb) states and provinces.
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- Jan 20, 2002
if you're contributing and taking care of your parents that's one thing
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- May 15, 2003
Kids would rather live with their parents than get together as roommates?
That's interesting how things have changed. I had roommates until I could afford to live alone.
That's interesting how things have changed. I had roommates until I could afford to live alone.
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- Aug 31, 2012
If living at home is cheaper than with roommates? I don't see why not unless their parents and/or household are impacting their mental health.
My first roommate was arguably just as bad as me living in the same house as my parents. In retrospect I probably would've had a better time living with my parents rent free than spending $950/month to live with an irresponsible basket case.
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- Mar 14, 2010
ANYTHING is better than living with parents... maybe because I don’t get along with my mother or father. I know it can be different for others.
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- Aug 31, 2012
It's definitely dependent upon the situation, but if you get along with your parents then I don't see a great reason to move out until you're good and ready.
I'm unfortunately in the same camp as you, but I've found a solid middle-ground until my girl graduates from PA school and we can get a house together.
