4 ms·
People are very good at knowing what their rent is.
by GartzenDeHaes 3y ago
People are very good at knowing what their rent is.
- ceejayoz 3y agoPeople are not very good at knowing what the national average rent increase is, nor are they very good at factoring it into all other expenses to come up with an inflation number. "My rent went up a bunch" is not a particularly useful rebuttal to "the CPI is x". (The CPI, after all, factors these increases in. "Rental prices were by far the 'largest contributor' to the rise in inflation on an annual basis in March, according to data released by the Bureau of Labor Statistics." https://www.usatoday.com/story/money/personalfinance/real-estate/2023/04/12/where-rents-are-going-up/11648843002/ https://www.usatoday.com/story/money/personalfinance/real-es... Note, also, the regional differences; +23% in South Dakota, down 3% in Connecticut. That's a large gap that can easily explain why individual anecdotes don't perfectly match the overall data.)
- treeman79 3y agoYep. Mine is up 1200 (to 2700) in past 3 years. Other friends up a 1000 this year alone.
- LeafItAlone 3y agoWhere do you live?
- subarctic 3y agoI assume your city doesn't have rent control, how do rent increases work there? Are they allowed to just send you a notice saying "hey, just fyi your rent is doubling next year"? If there's a specific tenant they don't like are they allowed to increase their rent by more than others?