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My rent for my cockroach invested, 150 sq ft apartment is larger than my parent's mortgage for their suburban McMansion about 45m-1h away, and my rent is absolu
by ep103 4y ago
My rent for my cockroach invested, 150 sq ft apartment is larger than my parent's mortgage for their suburban McMansion about 45m-1h away, and my rent is absolutely on the cheap side for a 1bd room in the area.
- hinkley 4y agoIn Seattle, 45 minutes away is still within the city limits, unless you're right on the edge of the city limits to start with. And if it's toward Everett even that doesn't save you. In traffic I often thought about how when I was a kid we got uprooted to a new school at a bad time to save my dad 45 minutes of commute each way, and how 2 hours a day doesn't sound that awful.
- ep103 4y agoYeah, its 45 without traffic, 1h-1:10 on a normal day, 1.5h during the morning and evening commutes. So they're solidly outside the city radius. The thing is, before I moved in, I did research on 1bdroom apartments within a large radius of the city. And basically, unless I was willing to move to a very unsafe area or very unsafe or clearly problematic apartment, rents simply do not go beneath my current rent price. There seems to be an agreed upon price floor from all landlords, and the only thing that changes as you get further from the city center is the size and quality of the apartment. But that means literally every apartment in about an hour circle of my location is more than my parent's mortgage. At least the roaches and I don't have major commuting costs as well.
- WalterBright 4y ago> There seems to be an agreed upon price floor from all landlords I doubt there's collusion. Being a landlord is expensive, and they're not going to set rents at loss levels.
- vabavhasb 4y agohttps://news.ycombinator.com/item?id=34926683 https://news.ycombinator.com/item?id=34926683 > Specifically, every morning, RealPage provides participating Lessors with recommended price levels. ... If Lessors wish to diverge from the “approved pricing” they must submit reasoning for doing so and await approval. ... But RealPage emphasizes the need for discipline among participating Lessors and urges them that for its coordinated algorithmic pricing to be the most successful in increasing rents, participating Lessors must adopt RealPage’s pricing at least 80% of the time.
- WalterBright 4y agoNobody is required to follow RealPage.
- vabavhasb 4y agoWho implied they were required to? > In one neighborhood in Seattle, ProPublica found, 70% of apartments were overseen by just 10 property managers, every single one of which used pricing software sold by RealPage.
- WalterBright 4y agoUsing software for information and advice doesn't mean they use it to set prices.
- vabavhasb 4y agoI would politely recommend reading the article, if you would like to comment on it. > As former FTC chairwoman Maureen K. Ohlhausen put it, as quoted in ProPublica: "Is it OK for a guy named Bob to collect confidential price strategy information from all the participants in a market and then tell everybody how they should price?' [Ohlhausen] said. 'If it isn’t OK for a guy named Bob to do it, then it probably isn’t OK for an algorithm to do it either."
- 4y ago
- kgwgk 4y ago> cockroach invested Appropriate typo.
- joejerryronnie 4y agoIf this is not worth it for you (maybe it is because of amenities), couldn’t you just buy a place closer to where your parents live?