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legalpretzel t1_jddr5l8 wrote

Reply to comment by Kirbyoto in The Kiln, 111-apartment complex, has opened in Worcester. How much do units cost? by moisheah

Seriously. Our mortgage on our 4BR house (it’s small, ancient and came with tons of issues) is less than a studio apartment.

This is why we left Boston 7 years ago - because rent was out of control ridiculous - but the ridiculous prices have spread everywhere.

It has to stop somewhere, and the newer buildings should be more expensive. But the idea that increasing supply will lower costs is going to hit a barrier because all those overpriced 3-families that sold in the last 3 years aren’t going to magically drop their rent prices because those owners have mortgages to pay on buildings that are probably underwater now.

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NativeMasshole t1_jdevs6e wrote

Builders are also going to pull back if prices really start dropping. The idea that the free market and some zoning ordinances are going to fix this is ridiculous. This has gone on for way, way too long without the government directly investing in low-income housing. Obviously subsidizing rents ain't working.

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dupattaluella t1_jdicll9 wrote

Do we have the same house?! Lol. We also have a 4br/1ba; it will be 1.75 bath once we enclose the laundry room with the random toilet and shower in the basement. But, it's cheaper than the rent for these studio apartments. Even adding in property taxes it's still cheaper than a studio.

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Turbulent_Leg6503 t1_jdimycc wrote

Give yourself credit. I just read about 2 full bathrooms

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dupattaluella t1_jdir7j4 wrote

I like my house for the most part. It's old and needs a lot of work, but we have almost half an acre of land and bought it when prices were lower (2016). It would probably go for $350-400k nowadays.

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