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The really important part of my quote you missed was > But that doesn't matter because the market is so competitive the new landlord wouldn't rent to you anywa

The really important part of my quote you missed was > But that doesn't matter because the market is so competitive the new landlord wouldn't rent to you anyway.

7Figures2Commas 12y ago
As I noted, the rental trend is one seen nationally. In the wake of the Great Recession, which destroyed the finances and credit scores of millions of Americans, many folks have found themselves unable to obtain a mortgage. Even for those who are able to obtain financing to buy a home, in many metropolitan areas, rebounding home prices have pushed many out of the market. Furthermore, in many areas it is exceedingly difficult to find and close on a purchase as a non-cash buyer. Around the country, millions of would-be home buyers have become renters and there is not enough apartment supply. Rents are rising nationally and lots of people are struggling to cope, including in cities where there is no tech boom to blame. In short, the dearth of affordable rentals is not the result of the tech industry. It's the result of a broader supply and demand imbalance.
- fred_durst 12y ago
  Yes, that is absolutely true and valid. Indeed the rental push is national and a great point. That said, to compare the rental increase in Oakland, or the Bay in general, is a far stretch from the national average. And the reason for that is obvious to most who have lived in both situations.
  - 7Figures2Commas 12y ago
    You seem to be assuming that the Bay Area has experienced the greatest increase in rents. Looking at the actual numbers is more useful. Recently, Seattle has experienced the greatest percentage increase in rents[1]. San Francisco and San Jose were up there, but the recent percentage increases in the Bay Area have, for instance, been on par with the increases seen in 2012-2013 in cities like Houston, Miami, San Diego and Boston[2]. It's a tough market out there for lots of people and while it's convenient to think that the Bay Area is always special because of the tech industry, this simply isn't the case. [1] http://online.wsj.com/news/articles/SB10001424052702304887104579304830053269994 http://online.wsj.com/news/articles/SB1000142405270230488710... [2] http://realestate.msn.com/massive-rent-increases-to-continue http://realestate.msn.com/massive-rent-increases-to-continue
    - fred_durst 12y ago
      Considering that I currently live in Seattle, have lived in SF and Oakland recently, grew up around Boston and work with a group out of Miami, I probably have pretty good idea of how warped it is in the Bay Area. Nice charts tho.
      - 7Figures2Commas 12y ago
        So your personal perceptions trump hard numbers from businesses that get paid to track real estate data? Cool beans.
        fred_durst 12y ago
        http://www.census.gov/housing/hvs/ http://www.census.gov/housing/hvs/ soooo many charts

The really important part of my quote you missed was > But that doesn't matter because the market is so competitive the new landlord wouldn't rent to you anyway.

7Figures2Commas 12y ago

As I noted, the rental trend is one seen nationally. In the wake of the Great Recession, which destroyed the finances and credit scores of millions of Americans, many folks have found themselves unable to obtain a mortgage. Even for those who are able to obtain financing to buy a home, in many metropolitan areas, rebounding home prices have pushed many out of the market. Furthermore, in many areas it is exceedingly difficult to find and close on a purchase as a non-cash buyer. Around the country, millions of would-be home buyers have become renters and there is not enough apartment supply. Rents are rising nationally and lots of people are struggling to cope, including in cities where there is no tech boom to blame. In short, the dearth of affordable rentals is not the result of the tech industry. It's the result of a broader supply and demand imbalance.

fred_durst 12y ago
Yes, that is absolutely true and valid. Indeed the rental push is national and a great point. That said, to compare the rental increase in Oakland, or the Bay in general, is a far stretch from the national average. And the reason for that is obvious to most who have lived in both situations.
- 7Figures2Commas 12y ago
  You seem to be assuming that the Bay Area has experienced the greatest increase in rents. Looking at the actual numbers is more useful. Recently, Seattle has experienced the greatest percentage increase in rents[1]. San Francisco and San Jose were up there, but the recent percentage increases in the Bay Area have, for instance, been on par with the increases seen in 2012-2013 in cities like Houston, Miami, San Diego and Boston[2]. It's a tough market out there for lots of people and while it's convenient to think that the Bay Area is always special because of the tech industry, this simply isn't the case. [1] http://online.wsj.com/news/articles/SB10001424052702304887104579304830053269994 http://online.wsj.com/news/articles/SB1000142405270230488710... [2] http://realestate.msn.com/massive-rent-increases-to-continue http://realestate.msn.com/massive-rent-increases-to-continue
  - fred_durst 12y ago
    Considering that I currently live in Seattle, have lived in SF and Oakland recently, grew up around Boston and work with a group out of Miami, I probably have pretty good idea of how warped it is in the Bay Area. Nice charts tho.
    - 7Figures2Commas 12y ago
      So your personal perceptions trump hard numbers from businesses that get paid to track real estate data? Cool beans.
      - fred_durst 12y ago
        http://www.census.gov/housing/hvs/ http://www.census.gov/housing/hvs/ soooo many charts