5 ms·
"Expensive" and "coastal" are critical caveats. Looking at the full Zumper report (https://www.zumper.com/blog/rental-price-data/ https://www.zumper.com/blog/re
by mortenjorck 6y ago
"Expensive" and "coastal" are critical caveats. Looking at the full Zumper report (https://www.zumper.com/blog/rental-price-data/ https://www.zumper.com/blog/rental-price-data/), there are surprisingly high year-over-year increases in a lot of other metro areas: Arizona sees nearly 8% increases in both Scottsdale and Tucson; Austin, TX is up almost 7% while even California has seen sizable increases in its second-tier cities like Sacramento (7%) and Bakersfield (6%).
The CNN story gives the impression that this is a nationwide trend, but it's really isolated to the housing markets that have been the most unaffordable in recent years.
- wmeredith 6y agoI don't know about rent, but home prices are spiking in the Kansas City metro as people aren't putting their homes on the market because of uncertainty. The demand is far outstripping the supply. People are getting multiple offers at or above list the same day they go to market and with special add-ons like inspection waivers. It's crazy.
- drewnick 6y agoSame thing in SoCal. Same exact house model selling for $200,000 higher than a few months back, under contract in 1 day. Demand high, supply very very low.
- jseliger 6y agoIf we only had some kind of technology that could be used to increase the number of housing units on a given parcel of land, we could increase the supply of housing in a given area until it matched the number of people who wanted to live there.
- blaser-waffle 6y ago> The CNN story gives the impression that this is a nationwide trend, but it's really isolated to the housing markets that have been the most unaffordable in recent years. No surprise. Not all places are equally worth living in. As an American living in Canada I think a 2nd tier California city wouldn't be bad. Maybe not Bakersfield, but Sacramento? Sure.