Re:Apartment Rents Fall as Crush of New Supply Hits Market
by girvo on Wednesday March 01, 2023 @02:11AM
(#34979593)
Dunno that seems pretty nuts to me. I live in Australia: known to have one of the most unaffordable and bonkers property markets in the world, and I live 1.5km from the centre of Brisbanes CBD, and pay $2800 for a 3/2/2 townhouse with a backyard…
Re:Apartment Rents Fall as Crush of New Supply Hits Market
by cik on Wednesday March 01, 2023 @04:32AM
(#34980410)
Different markets have different realities. People have to compare their relative markets.
I live in Israel near Tel Aviv. Your $2800 (I'm assuming AUD) is 10% more than my mortgage. I live 10 minutes from the beach (and downtown), 2 minutes from a forest, and have a 5+.
If your value was USD then everything I just wrote holds true fro Tel Aviv, one of the most expensive markets in the world. OPs original post would get him a fantastic place here ~15 minutes from the beach and 15 minutes from work.. on foot. But salaries also don't match that.
Re:Apartment Rents Fall as Crush of New Supply Hits Market
by rootusrootus on Wednesday March 01, 2023 @11:03AM
(#34983804)
That sounds perhaps normal for New York or California metros. But even in Portland, which is not renowned for it's affordable housing options, a two bedroom apartment downtown can be had for $1800/mo, and a three bedroom for $2800/mo.
Re:Apartment Rents Fall as Crush of New Supply Hits Market
by hifromLA on Wednesday March 01, 2023 @11:31AM
(#34984236)
I respectfully disagree. LA is one of the least affordable metros when factoring in income. It gets even worse when you start looking for a place with a specific commute, washer/dryer, adequate off street parking, etc.
Re:Apartment Rents Fall as Crush of New Supply Hits Market
by tempsy on Wednesday March 01, 2023 @01:18PM
(#34986146)
It's not. Median rents in NYC is over $4k. LA is nowhere near that.
"Factoring income" is also a non-sensical qualifier for how expensive a metro is. Using that measure then Miami would be considered far and away the most expensive metro in the country.
I see 1 bedroom apartments for $2k-ish everywhere. 2 bedroom apartments for less than $3500. that's just normal if not below average for a major metro.