Home rental prices

[The_Patriot21]

Im not attacking or being judgemental bo-Im just pointing out, especially with being laid off, well, sometimes you have to make the best of a bad situation. Maybe God will provide something else-and maybe, in your situation, you maybe better off finding a trailer house to live in. But going out and renting a really expensive house that you cannot afford-especially with the knowledge that your about to be laid off isnt sound advice, and I can't say it is regardless of the situation-it sounds like a good way to have you and your children living on the streets, and thats a lot worse then having close in neighbors. 

 

In any case, I will be praying for you and your family.

[missmuffet]

Im not attacking or being judgemental bo-Im just pointing out, especially with being laid off, well, sometimes you have to make the best of a bad situation. Maybe God will provide something else-and maybe, in your situation, you maybe better off finding a trailer house to live in. But going out and renting a really expensive house that you cannot afford-especially with the knowledge that your about to be laid off isnt sound advice, and I can't say it is regardless of the situation-it sounds like a good way to have you and your children living on the streets, and thats a lot worse then having close in neighbors. 

 

In any case, I will be praying for you and your family.

Thanks we can use all the prayers we an get.   This situation has been put at the feet of Jesus and in His hands.My son and I both have faith.A trailer house is not a bad idea.We have to live in a remote area.Their are some trailers that are quite nice.But I can imagine you would need money down for a trailer as well.And you would have to purchase the acreage to put the trailer on.

[The_Patriot21]

many people rent trailer houses out in most towns, often for far less then homes some even with land. Most come as a package lot and trailer. The advantages of trailers is that they often provide, at least some space between you and your neighbors, in most cases offer more room then an apartment and a decent amount of privacy. The negatives, is that theyre often in the less then desirable sections of town, with higher crime rates, usually dont have as good insulation as an apartment or house so your utilities are likely to be higher-especially on the outskirts of town, and due to the cheaper construction, in the case of a fire, go up nearly instantaneously making escape diffult. Theres some nice ones out there, but the nicer it is, the higher the price normally is. Just throwing that out there.

 

Another option to look at is perhaps a duplex. Yes, youll have a neighbor next door, but it wont be nearly as crowded in as a apartment complex, but cheaper then renting a full house, while still offering at least some privacy and cheaper utility bills. If you can find one where the neighbor understands special needs kids, it might work. Like you said I dont know your specific situation, but I thought Id throw that out as well.

[missmuffet]

many people rent trailer houses out in most towns, often for far less then homes some even with land. Most come as a package lot and trailer. The advantages of trailers is that they often provide, at least some space between you and your neighbors, in most cases offer more room then an apartment and a decent amount of privacy. The negatives, is that theyre often in the less then desirable sections of town, with higher crime rates, usually dont have as good insulation as an apartment or house so your utilities are likely to be higher-especially on the outskirts of town, and due to the cheaper construction, in the case of a fire, go up nearly instantaneously making escape diffult. Theres some nice ones out there, but the nicer it is, the higher the price normally is. Just throwing that out there.

 

Another option to look at is perhaps a duplex. Yes, youll have a neighbor next door, but it wont be nearly as crowded in as a apartment complex, but cheaper then renting a full house, while still offering at least some privacy and cheaper utility bills. If you can find one where the neighbor understands special needs kids, it might work. Like you said I dont know your specific situation, but I thought Id throw that out as well.

Thanks 

[desi2007]

bopeep, the best advice i can give you is keep showing up to work, no matter how grim things look at work, things can change and you may not be laid off. I have been there, I was facing a lay off awhile back and here i had my house mortgage and thought what am i to do. All I could do is keep showing up and worrying was stressful, was down on my knees many nights. God will take care of you and your family. He saved my job, my home, and He will do it for you, we don't know what God has in store for us but always He has our best interest at hand. I dont know your whole situation but I noticed when i would start looking at other places i would get more stressed more upsit, it was such a long deep valley I was in, I do know about almost losing a job I have been there, and I do know about almost losing my home, so I know how your feeling, it is painful, it was in that time i realized I was using my own strength and I was exhausting myself and I could hear God 'your not trusting me enough'.., praying for you as well.

 

[Omegaman 3.0]

I can not believe the horrible rental prices for homes.I am looking for a rental home and it is ridiculous.It can be $2,000.00/mo. and it is a dive.Why are people doing this?Are they in horrible debt so they need alot of extra money in their pockets?Are they just starting with really high prices to see if they can get that and then come down?What a RIPOFF 

Well, if you owned a home and for some reason, you were going to sell it and move to another location, would you sell it for what it was worth in the local market? Or would you instead think: "Well, this house cost me half this much 10 years ago, so I think I will sell it for what I paid for it, in fact, since it is used, I should discount it.

Generally, people do not sell and rent out houses for as little as they can, but for as much as they can. It is not really the seller that determines the price, as much as the buyer. Homes go for what the market will pay. In a nice, pricier neighborhood, if you put a home on the market, for let's say, $100,000 dollars. Let's say also, that most homes of equal size and quality are going for $500,000. A person comes along, and offers to pay the $100,000, but 20 minutes later, the buyer receives another offer for $120,000, and later that day, he recieves another offer for $200,000. Is it unreasonable, for that homeowner to wait until the interest in his home, is slowing down and then sell to higher bidders? If he does that, is he ripping the person off who can and iwants the home at a higher price? If the price is too high for one person, why is that a ripoff, instead of it just being out of that person's price range. Would you epect a car dealer, to lower the cost of a new car, to $1000, just so more people can afford it?

I think that a person, needs to look at their income, and figure out what they can afford, whether they are buying or renting. It might be a good idea, for example, to limit that to 30% of their income. If that means one cannot afford to live in a 2000 sq ft home in a nice neighborhood, then that is what that means. Perhaps they should live in a rented trailer, on the edge of a less expensive town. We are not entitled to have whatever we want, at whatever price we want. Live the lifestyle that Jesus and the Apostles did, and I would venture to guess that will be more affordable.

[missmuffet]

Rents have doubled where I live.I was told it was supply and demand and that there were not enough rentals.

[Omegaman 3.0]

Rents have doubled where I live.I was told it was supply and demand and that there were not enough rentals.

simplejeff said: greed.   built in to american society.  built in to mankind.  built in to society everywhere.((even most 'churches'))

I was living in a middle class neighborhood, by the standards of my area. We bought the hose for $260,000 in 1987. To people in most other states (primarily) that seemed like an extremely expensive home at that time. I could have moved to Texas at that time, and had a similar home for about half the price. Price is not everything. To insure the homes costs were similar, because the insurance companies estimated their costs to be about the same. Damage due to weather damage, was more likely were we considered in Texas, that where we were in California. Losses due to property crime, were more likely in that part of Texas, than out part of California. Property tax was the same as well, because the tax rate was higher in Texas as a percentage of property value, plus those taxes were scheduled to go up in Texas, and it was locked in California.

We struggled to make the payments, to be sure, but we were able to stay out of foreclosure. This was the area, where we grew up, were our friends, relatives, and jobs were, so we sacrificed living with nice things (like furniture, cell phone, new cars, new T.V.s, eating out, and expensive meals at home) in order to keep our home. We were for the most part, very thrifty, apart from living in a home that was really out of our price range.

As inflation continued, our home value rose, and to supplement our income, we borrowed on our equity. Our dept was increasing, but no was out net worth, due to the home value rising. Eventually, our equity was high enough, that we sold out home, and moved to a less expensive part of the state. The home we moved into, had sold for $410,000 the year before we bought it. This fall in price of 50% in a year, wa all part of that housing price bubble burst that most if not all of the country experienced. While out previous home fell in value also, we had enough equity in it, that we bought the house I am in now, for cash.

That is something that is possible to do, when inflation is going crazy, you can make money if you are a home owner. If you are a renter, your money just disappears. If I wanted to own a home as quickly as I could, knowing what I know now, I would wish for inflation, out of control inflation. In those conditions, you could act as your own general contractor, and build a home, live in it for a couple of years and sell it. Do that three times or so, and 6 years later, you have your first home that you own 100% with no mortgage. Want more? At that point, instead of building single family home, build a small multi-family home, like a quadraplex. Live in one unit, and collect rent from four units. That is how some people make a decent living and build economic security. My father-in-law managed to retire at the age of 43, in spite of the fact that he was just a regular working stiff, raising a family, and he was not even doing the self-contracting aspect. I imagine that in the condition where housing costs are rising like crazy and continue to do so, that a person could continue this sort of practice, and manage to retire and an even younger age than my father=in-law did.

Now, question: Is that greed? Or, is that just being willing to work hard, take some risks and work for one's self, instead of working for a boss? The local grocer, buys a food and sells it at a profit, is it wrong to buy houses and sell them for a profit, if real estate is your business? I do not see the difference. To me, it is nice, that some people have the opportunity to buy a product and sell it for a profit. The grocer does it, the real estate focused person does it too, he/she just gets to live in the product he/she sells. 

In a county like the U.S., there are still some opportunities to get ahead, but there will always be those who struggle, especially those just starting out in there adult lives. Much of the time, older folk struggle too, some of the time though, that is because they failed to plan for their futures. 

I hesitate to say that people who want to get ahead, are greedy. Self interested, of course, and we all are that, if we are "normal". Few are the people who can manage to live totally selflssly. If we feel sorry for ourselves because prices are high, and life is difficult to live the way we wish we could, that is just as self interested as those who want to make more money. Selling things at profit, or wanting a discount, are flip sides of the same coin.

 

P.S. Oh, and about the supply and demand aspect - yes, that is how it works in a society that allows so free market principles to prevail. If $2000 for rent was making a big profit, then guess what, people with money will be there, making more rentals available, to take advantage of that opportunity. Reasons why that would not be the case, is if there are better opportunities for rental builders elsewhere. If your areas is out of unbuilt lands, then land cost will be high, and builders might shop elsewhere. Sometimes local governments make getting permits difficult or costly. Some places impose rent control, with the idea that that will make rentals more affordable for renters. That rarely, if ever works. When a municipality restricts rent hikes, that discourages new building, because it restricts future profits of the owners. With not new buildings become available, shortages occur. That leaves more people competing for fewer properties, and once a vacancy occurs, the owner will hike the price on the next tenant, knowing that there are plenty of people waiting in line for a place to rent.

I read here on the forums, recently, something about a annual pass for Disney parks, was like $1000 or something, If no one was waiting in line to get in, Disney would lower their rates - that is supply and demand - works on these things, food prices, gasoline, medical costs, and diamond rings.

Edited October 14, 2015 by Omegaman 3.0
added the p.s.

[missmuffet]

I have lived in some really big homes in my life that we owned but now I am renting.Quite a change from my past but that is what God has planned for us so I am ok with that.If He wants us to own a home He will provide.

[Ezra]

 

This is how free market works.  Market dictate what rental price it would be.  This isn't greed.  If it is greed to charge as much as what people would be willing to pay, then it is also greed to find to cheapest rental house you can afford (demand the highest wage for a job).  Just the flip side of the coin from the owner's perspective.

I believe that the free market concept is good. However there is no denying that for many landlords greed is a major factor when the demand exceeds the supply.  That is exactly why I said sometime back that mortgage debt is using debt for the right reasons.  If any person can save enough for a down payment and has a steady income to cover the monthly payments and necessities, then that is the only way to avoid becoming enslaved to a landlord. With the current level of interest rates, the monthly payments will often be equal to or less than rent.  And there are cities in the USA where a house can be purchased at a very reasonable price. Please do a search and see for yourself. Everyone does not have to live in New York.