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Good-Expression-4433 t1_ixwhftt wrote

Reply to comment by [deleted] in Is it just me or is Rhode Island as a whole becoming grossly unaffordable? by [deleted]

I moved to Providence during the pandemic and the cost of everything going up so much here kinda baffles me a little. Like don't get me wrong, I love Providence. I do not regret moving here but it often feels like Providence is trying to price itself into being more important and grand of a city than it really is. You could make an argument for cities in CA or like Austin or NYC or Boston but Providence seems dead set on following them when it comes to pricing people back but the only real selling points are "we're small and gay and oh Brown exists and we're a few hours to bigger cities."

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Status_Silver_5114 t1_ixwiu8f wrote

Cost of living increases aren’t unique to PVD or even RI. You’d be hard pressed to find a place you’d want to live that you can afford to move to that isn’t doing something similar.

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Good-Expression-4433 t1_ixwkreq wrote

Oh I know. COL is up everywhere. Mostly looking at the rent increases with places like Black Rock scooping up everything during the late stages of the pandemic. Over on Fed Hill and see their people everywhere as of late. Then every new apartment is overpriced "luxury" apts.

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Status_Silver_5114 t1_ixwlqgj wrote

Yeah the luxury thing I don’t get! ESP with a 1 hour+ commute to Boston who is making enough money in PVD to live there (or want to live there?).

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FunLife64 t1_ixwr0cx wrote

Every apt building advertises themselves as luxury. It doesn’t mean it is. The prices are still rather affordable (especially compared to Boston) and don’t forget many people work remotely.

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Status_Silver_5114 t1_ixws33b wrote

Yeah but pre COVID the difference between a 2 br here and BOS was substantial. BOS still more expensive but the gap is getting bizarrely narrow

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FunLife64 t1_ixwu0no wrote

It is?

A 700sq ft one bedroom downtown in a new building is $2000-2200.

A 700sq ft one bedroom in a new building in the Seaport is $4000-4200.

Not sure I’d describe that as a narrow gap.

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Status_Silver_5114 t1_ixyna2a wrote

Comps would be more appropriate to compare a 2 br in J.P. or rosi v east side. Used to be 2400+ before Covid to about 1600 tops. Now it’s 2400 to 1800-2000 routinely.

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Tortankum t1_ixwlyfg wrote

You understand “providence” doesn’t set prices right?

Prices are going up because people are paying.

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Good-Expression-4433 t1_ixwmit5 wrote

I'm not arguing that Providence the city government itself is doing it. Just pointing at the landlords and real estate investors that control our housing right now.

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Tortankum t1_ixwng28 wrote

You have no conception of how prices work if you think landlords are raising prices in an attempt to make providence feel “grand”

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Radrunner17 t1_ixwosp2 wrote

No, but they are raising prices to get a higher return.

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Tortankum t1_ixwrdzy wrote

Umm yeah that’s how capitalism works

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Radrunner17 t1_ixyb9oz wrote

Don’t try to “that’s how capitalism works” when you just said real estate investors aren’t trying to make Providence feel “grand”. You clearly don’t understand capitalism if you made that statement.

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FunLife64 t1_ixwqqqd wrote

Providence isn’t deciding anything. It’s based on supply and demand. There’s enough people that find those selling points attractive I guess!

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