Nuplex t1_j9h1s1y wrote on February 21, 2023 at 10:39 PM

Reply to comment by Miringanes in Just got our lease renewal numbers. For a 12 month lease renewal, our rent will increase over 10%. I don't see how this is sustainable long term. by chazthetic

I guess they are technically correct, there is plenty of housing in the country.... if you just add it all together irrelevant of location and quality. Housing crisis is specifically because there isn't enough housing where the jobs are and where people generally want to live thats a reasonable commuting distance.

Also the day people realize that housing cannot sustainably appreciate forever (for numerous reasons) as an asset there probably will be an enormous crash and cultural shift of housing as an investment to housing as a need (see: Japan). We are nowhere close to that yet sadly. Probably take another 20 or so years.

GoHuskies1984 t1_j9hi5b2 wrote on February 22, 2023 at 12:31 AM

Not trying to fight but anyone buying expensive property in hot neighborhoods already knows not to count on huge appreciation.

People buy in popular neighborhoods because they want to live there + build equity while doing so.

A collapse is not happening unless there are major external factors.

Miringanes t1_j9hmm35 wrote on February 22, 2023 at 1:03 AM

Unless you’re levered to the tits… but yes, my wife and I bought in a pretty hot area and there will be some appreciation, but not like it has been. We bought where we did because of the charming housing stock and gas street lamps, commute time to Manhattan, and like minded people living in the town.