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chazthetic OP t1_j9jtr82 wrote

Reply to comment by russokumo 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 regret not buying as well. I agree with you about the trajectory of JC, but the unfortunate truth is the price increases right now feel like price gouging, the same kinds of price gouging we saw with groceries, gas, etc over the last few years.

I doubt the rising costs of an apartment were solely due to the costs of managing a building, and rather the desire to simply squeeze more and more out of the customers.

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russokumo t1_j9jxcp8 wrote

Alas this is how capitalism works. You squeeze and get higher margins anywhere you can.

Interest rates were the other huge driver. Many other portfolio buildings for these owners are commercial properties on floating rate debt that they are deeply underwater on. So they're probably trying to make up for it where they can.

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