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DogeAutist t1_ja5ho3d wrote

Reply to comment by crypt0_sports in What Happens From Here? by B3stAuD1t0rofA11tiME

Supply and demand amigo. Arbitrary numbers mean nothing. Rental increases are sustained until a better option presents itself for the rentors. Three families in a 3 bedroom two bath home, kids sleeping in closets. This shit is normal. I suspect it will continue as I don't see interest rates dropping anytime soon, and talk of the housing crash has spooked alot of new construction.

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crypt0_sports t1_ja5i877 wrote

Well if they lose their jobs all bets are off the table.

Based on your logic then you’ll have 12 people and 3 generations living in a 2 br 1 bath house all while hundreds of thousands of homes sit empty while an investor refuses to take anything less than $2500 a month on a property they overpaid by 2x ?

If so then you’ll have armed security patrolling these neighborhoods trying to run off squatters.

Make it make sense.

P.s. new manufactured homes are now starting at 49k where I am and they were 79k less than a year ago.

So they apparently know something.

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DogeAutist t1_ja5k25u wrote

Everyone in the household works. It's not a theory. I see it daily. And if one or two lose job the family gets replaced or the throw another in the living room.

Nowhere to put a manufactured homes (where I'm at anyways)and even then you have to rent the land and that goes up annually as well.

Also, most these people work in a variation of service industry. They will always have work cleaning houses, taking care of children, fixing cars. And that work at this price point is just not possible if they move 1 hour outside of the city in a manufactured home.

I'm in Cali, so I know this ain't the norm, but it's what I'm seeing here. Think about it, how is it different than 4 college kids renting a 3 bedroom and two splitting the master.

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crypt0_sports t1_ja5lmqy wrote

Oh you’re in Cali I’m in Central Texas, different planets.

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