How can anyone afford to rent any more?

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How can anyone afford to rent any more?

Post by tector » Tue Apr 03, 2018 2:33 pm

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Re: How can anyone afford to rent any more?

Post by NorincoKid » Tue Apr 03, 2018 2:45 pm

Our mortgage on our house, the whole shebang, here is less than the average rent for a small 1 bedroom apartment where I come from...

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Re: How can anyone afford to rent any more?

Post by Synaptic Misfire » Tue Apr 03, 2018 4:48 pm

Section 8...
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Nobody in DC is using it anyway." -Joe C. Wales

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Re: How can anyone afford to rent any more?

Post by Rentprop1 » Tue Apr 03, 2018 4:56 pm

lots of 3 bedroom homes on 2 acres in Ohio for $ 650 per month

LOCATION, LOCATION, LOCATION

many people would like to live in South FL, but you need to realize you HAVE to live where you can afford it :ham'r
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Re: How can anyone afford to rent any more?

Post by FfNJGTFO » Tue Apr 03, 2018 5:02 pm

If you think SOFL is bad, try downtown (or Upper East Side) of Manhattan... $$$$$$$$$$$$ and for a very small "efficiency" apartment.

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Re: How can anyone afford to rent any more?

Post by Rentprop1 » Tue Apr 03, 2018 6:21 pm

I have a customer who moved here from NYC, ( 59th and Park Ave ) he said his rent was $16,000 per month for a 3 bedroom [smilie=011.gif] , fvck those stupid fvckers anyways [smilie=011.gif]
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Re: How can anyone afford to rent any more?

Post by zeebaron » Tue Apr 03, 2018 6:48 pm

1 bedroom is now about $1000 a month in Oldsmar, plus utilities of course. Our 2br villa property value here went from $90k to $130k within the last year. Could probably get $150k.

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How can anyone afford to rent any more?

Post by dammitgriff » Tue Apr 03, 2018 8:51 pm

Rents here in Melbourne are sky-high too...as much as carrying a mortgage and getting worse.
$1400 on average.
I’m currently living in an RV in a co-worker’s side yard at the house he was renting but he just bought himself a house and I’ll be renting a small room there for $100 a week.
Can’t afford to live with my wife and kids here so she’s living in our small investment property down in the Keys, which still has a mortgage on it. She’s coordinating repairs and maintenance after Irma went right over us down there. It’s just a small single-wide mobile home, but we can get about $2K a month renting it annually, and up to $3K a month short-term.
I can’t afford to fund a retirement account so that’s gonna be the basis for our retirement. Someone please let me know when America is Great Again so I can replace my 22-year-old Chevy truck...
R/Griff

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Re: How can anyone afford to rent any more?

Post by Skeezix » Tue Apr 03, 2018 9:27 pm

That's kind of funny because just a few years ago, I could have bought a
3 bedroom house in Melbourne for $25,000.
Would have made going to visit my kids much cheaper.

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Re: How can anyone afford to rent any more?

Post by P5 guy » Wed Apr 04, 2018 4:51 am

A friend of mine mother passed last year and they offered me her doublewide manufactured home for a nice price, the problem was the lot rent was $630 a month. And additional charge for uses of the golf course.
Of course all utilities NOT included.
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Re: How can anyone afford to rent any more?

Post by BIG JOE » Wed Apr 04, 2018 7:03 am

While I can't confirm the exact figures quoted I can say that most single family residences in Fort Lauderdale constructed or under construction now come very close to those figures. The City of Fort Lauderdale is approving almost all new construction that includes residential. It seems as the way it works is that if you have the funds to complete the project it will be approved to be built. Also this seems to be occurring without much concern for the extra for the burden placed on the existing infrastructure. They are also being occupied very quickly. I don't know how these people can afford these cost's. My mortgage is at least $600.00 less than the average rent stated. Don't forget to add in maintenance, hoa, cc&r, parking, and anything else that they can charge extra for. There are still projects coming in for approval. While it say's they won't be a crash I would have to disagree. They always build until the market is saturated and then stop. This would be a crash. Just my $.02.
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Re: How can anyone afford to rent any more?

Post by flcracker » Wed Apr 04, 2018 8:26 am

I am paying $1500/mo for a nice little 1100 sq ft 2/1 refurb'ed CB bungalow with garage and big backyard right in the edge of downtown Safety Harbor, about as Mayberry R.F.D. as you can get in West Central Florida.

The home prices around here are nuts, though - it's getting to be a very desirable place to be for the active semi-retiree set - lots of art shows, street & waterfront festivals, etc.. A little bungalow like mine with a fancy new facade located five blocks closer to downtown is on the market for $300K. Most homes on the market are $400K & up. The only youngish folks owning around here seem to have inherited their house from a grandparent or they bought here at the bottom of the market 5-6 years ago.

I'm just holding on, working on my post-divorce credit, saving towards a down-payment, and waiting for the next market crash so I can buy on the downslide - but likely east Manatee County where I can still hope to find a decent-sized piece of dirt.
and some rin up hill and down dale, knapping the chucky stanes to pieces wi' hammers, like sae mony road-makers run daft - they say it is to see how the warld was made!

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Re: How can anyone afford to rent any more?

Post by jjk308 » Wed Apr 04, 2018 9:20 am

flcracker wrote:
Wed Apr 04, 2018 8:26 am

I'm just holding on, working on my post-divorce credit, saving towards a down-payment, and waiting for the next market crash so I can buy on the downslide - but likely east Manatee County where I can still hope to find a decent-sized piece of dirt.
Good luck with that. We moved here in 1992, buying during a mini-crash, but have seen only the 2008 crash since then. One big decline in 26 years - and that was an extreme event - means you may have a long time to wait.
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Re: How can anyone afford to rent any more?

Post by fish » Wed Apr 04, 2018 9:21 am

Thanks for the article link!
Our married daughter lives in an Orlando apartment, they are saving up to buy a house.
I have no idea what young people, first time home buyers, have to do to buy a house these days.

Can recall after the last economic crash, rules were changed to make it harder to buy a house on credit.
So I’m guessing that means a larger down payment.

Those of us that have V.A. loan guarantees are lucky.
Wife and I paid off this house years ago, it’s a POS, but no debt!

Patiently waiting for the next economic crash so I can get the pool resurfaced for reasonable $$$
(last quote to resurface, put in new pumps=$12k)
Quote to put a screen over it= $25k
Quote to replace this tiny house’s paper soffits w/ aluminum=$6k

Me= F.U.!!!!!
Last edited by fish on Wed Apr 04, 2018 11:19 am, edited 1 time in total.
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Re: How can anyone afford to rent any more?

Post by REDinFL » Wed Apr 04, 2018 9:40 am

Florida rentals, at least in coastal areas, not even talking beach itself, have been high in proportion ever since I moved here 21 years ago. I was surprised by the levels in relation to everything else. I think the current rent surge, fundamentally just supply and demand, is taking place for two reasons: leftover from the last crash, people lost their homes and had to rent, and have continued to do so, whether because of credit or desire; there has been a major paradigm shift among the younger generations. Younger people would rather not own when they can rent. I can't really say if they are revisiting Jack Kerouac, or are not interested in the multiple shakedowns that take place when one owns a place (as in fish's comments above), plus the insurance, and the government renting "your" property to you.

In my situation, I "own" thanks to a VA mortgage. However, if I have to pull the plug on my domestic situation, I will only be interested in renting, so I'll be adding to that demand. With no children, no need to leave an estate. I'll pre-arrange my cremation and the VA can put them where they want, or toss them, I don't care. I want peace, not work and responsibility for whatever time I have left on this earth, which likely isn't a whole lot. I recognize I'll have to pay at least $1,200 per month, and more like $1,500 for a rental in a decent area - no interest in whoopie areas or some people's idea of luxury. I've asked around, and people on here living in my target areas have been especially helpful. WHile the rents may be 40% more than they "should" be, I'll manage. I can do with less as long as I have peace. I think a lot of people have made that same decision.
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Re: How can anyone afford to rent any more?

Post by 23Preacher » Wed Apr 04, 2018 10:56 am

$640.00 a month pays the lot rent, elec. ,water an sewer included..however I'm livivng in a 43' fifthwheel with a 15' garage. RV is paid for,so me an the dog are happy,plus I help them around here so that pretty much pays the rent. Yea,I'm retired an diggin' life right now =:bye

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Re: How can anyone afford to rent any more?

Post by Flame Red » Wed Apr 04, 2018 11:17 am

My son pays over $1k plus all utilities for the privilege of renting a 1 bedroom apartment in Crime Hills in Mosquito County. High because it is close to his work and even close it is a nightmare for him to drive in The City Ugly with all the congestion. Not a lot in the way of housing he could afford since only recently did he start making more than minimum wage. I think he would buy a house if he could find one he could afford since his job seems stable for now. It is not just the 20% down, but the taxes and Nazi HOA crap and all the closing costs the state collects if you get a mortgage. Everyone seems to want top dollar for termite riddled fixer-uppers that are not fit for animal habitation that have not been repaired since they were built in the 60's or 70's.

Recently got smacked by no habla illegal aliens with fake ID and fake insurance but they got the worse of it. He is one car repair from disaster driving my 15 year old beater truck. At least he does not have to go far.
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Re: How can anyone afford to rent any more?

Post by flcracker » Wed Apr 04, 2018 1:56 pm

jjk308 wrote:
Wed Apr 04, 2018 9:20 am
flcracker wrote:
Wed Apr 04, 2018 8:26 am

I'm just holding on, working on my post-divorce credit, saving towards a down-payment, and waiting for the next market crash so I can buy on the downslide - but likely east Manatee County where I can still hope to find a decent-sized piece of dirt.
Good luck with that. We moved here in 1992, buying during a mini-crash, but have seen only the 2008 crash since then. One big decline in 26 years - and that was an extreme event - means you may have a long time to wait.
In 2007 I married a woman who owned a home worth $310K, according to the property appraiser. Between then and the time we divorced in 2017, the value dropped to $145K then climbed back to $315K. I got virtually nothing for my 50% share of 10 years of mortgage payments. Due to her timely refinancing 9 months before asking for a divorce, there was essentially no increase in equity over the ten years of the marriage.
and some rin up hill and down dale, knapping the chucky stanes to pieces wi' hammers, like sae mony road-makers run daft - they say it is to see how the warld was made!

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Re: How can anyone afford to rent any more?

Post by flashooter22 » Wed Apr 04, 2018 7:07 pm

My rent is 2100 a month for a single family in a nice gated community in central Palm Beach County. I found this fairly average for the area. Will finish off my lease this summer and I am closing on new construction in the northwest part of the county. With the way home prices are, it ended up being a better deal for me to build then buy something thats on the market right now.
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Re: How can anyone afford to rent any more?

Post by TC6969 » Wed Apr 04, 2018 7:51 pm

23Preacher wrote:
Wed Apr 04, 2018 10:56 am
Yea,I'm retired an diggin' life right now =:bye
Its a wonderful thing isn't it?

Last month, I read about a state park that sounded interesting, so I unplugged the main power, switched the refrigerator to solar, laid my monitor down on a pillow, took my guitar out of the drivers seat and drove away!

Camping fees were only $11.00 per night.

I might find 4 or 5 parks around central Florida and do a rotating camp out for a few years!
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