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Re:Finally, no bid on mortgage-backed securities by gedy on Monday June 13, 2022 @01:32AM (#31721565)
I honestly feel like rents are at the breaking point, it's ridiculous in California at least and people I know who rent are leaving the state because of this.
Re:Finally, no bid on mortgage-backed securities by bredren on Monday June 13, 2022 @02:07AM (#31721773)
In 2021, Portland, Oregon saw it’s population decline for the first time since 2010.

This has been attributed to the high cost of housing. [1]

The secretary of HUD was here a month ago taking a tour, talking about affordable housing.

We started a family last year and despite needing to move out of a duplex, we would not seriously consider a purchase.

Prices and terms of sale have been outrageous.

Deciding our best bet was to rent, we found the rental market for single family homes a disaster.

The only way we found something was because we know a postal worker who saw a for rent sign while walking their route.

The place never hit the internet.

The house needs a ton of work and the only way it can be priced the way it is is because the market is so totally busted.

My wife tracked pricing and made a spreadsheet of comparable rentals when we signed the lease. I’d guess our rent was at least $400 under market.

I grew up in Portland. I went to a portland public school and college in Oregon. I had wanted to live here.

However, we need housing to show clear indications it will turn, an unexpected windfall, or we will move away from family here and toward other family in the mid-west.

Regular people are desperate here, valley folks are coming in doing the same thing we would do to wherever we could land in the Midwest.

Housing is broken.

[1] https://www.wweek.com/news/city/2022/05/27/new-census-number...

Re:Finally, no bid on mortgage-backed securities by zbrozek on Monday June 13, 2022 @03:13AM (#31722245)
We need supply side solutions. The market would totally take care of demand if property rights were strong enough to allow folks to build housing.

We need to get a federal level right to build housing on your land. We also need to overturn Euclid v Ambler.

Re:Finally, no bid on mortgage-backed securities by trashtester on Monday June 13, 2022 @09:47AM (#31725494)
This year could possibly the worst time in a lifetime to start bulding a new home.
Re:Finally, no bid on mortgage-backed securities by zbrozek on Monday June 13, 2022 @02:10PM (#31729178)
Until next year! It doesn't get better.
Re:Finally, no bid on mortgage-backed securities by trashtester on Monday June 13, 2022 @03:42PM (#31730720)
Well, consider that if you start building now, you're likely not done until next year, or maybe the year after....
Re:Finally, no bid on mortgage-backed securities by zbrozek on Monday June 13, 2022 @05:43PM (#31732167)
I'm more than 2 years in and no physical progress has been made. "Local control" is a huge problem and it needs to go away.
Re:Finally, no bid on mortgage-backed securities by jjeaff on Monday June 13, 2022 @03:07AM (#31722204)
The real question is how quickly is someone else renting their place after they leave.

I have also known quite a few people have recently left California. And not a single one of them left a vacant house behind.