4 ms·
High-density housing has been going up throughout the area because the population is skyrocketing. It's true that single-family homes are in short supply and se
by mratzloff 10y ago
High-density housing has been going up throughout the area because the population is skyrocketing. It's true that single-family homes are in short supply and sell quickly, but they can't build enough single-family homes to keep pace with the demand; there simply isn't space, especially in the city. Wallingford is a desirable neighborhood and rents are going to increase there. That's just reality. These tenants had been insulated from the last decade of market pressures, but there are plenty of apartments available.
I do sympathize with their situation. Being priced out of your home and having to quickly find a new place and move is incredibly stressful and can be personally devastating if you've grown attached to where you live, your neighbors, etc. And I do think legally limiting the rate of rent increase each year (as a percentage of overall rent) is a reasonable compromise. Unfortunately, with Amazon and other tech companies importing thousands and thousands of young men with six-figure salaries, housing prices in general will only continue to increase.
- kazinator 10y ago> Unfortunately, with Amazon and other tech companies importing thousands and thousands of young men with six-figure salaries, housing prices in general will only continue to increase. Indeed. The only problem is that people with six-figure salaries rely on the services of people who don't have six-figure salaries, and those people also require proximity to their own non-six-figure jobs. Oh, like teachers for their kids, police officers, supermarket cashiers, you name it.