The Vicious Circle That Is Sending Rents Spiraling Higher

jones_supa writes: Skyrocketing rents and multiple roommates — these are the kinds of war stories you expect to hear in space-constrained cities such as New York and San Francisco. But the rental crunch has been steadily creeping inland from coastal cities and up the economic ladder. Bloomberg takes a look at the vicious cycle that keeps rents spiraling higher. People paying high rents have a harder time saving for a down payment, preventing tenants from exiting the rental market. Low vacancy rates let landlords raise rents still higher. Developers who know they can command high rents (and sales prices) are spurred to spend more to acquire developable land. Finally, higher land costs can force builders to target the higher end of the market. The interesting question is how long can this last before we reach a level that is not affordable to the majority of the demographic that is being serviced.

Comments

Re:sigh...

[drinkypoo]

Sorry, but when you make a claim, it's on you to provide either a source for it or your evidence for making it.

Sorry, but if this is common knowledge to anyone who cares, and any asshole can find out with google, then you're just a big fucking asshole if you don't google and find out for yourself before asking like a goddamned two year old that has to have their dick held for them while they piss so that they don't get it all over the bathroom.

I've never seen the claim made before either, and there are probably a lot of other people who haven't either.

Right, that's because you don't fucking care about this. If you did, you'd have done some google searches and you'd know something about the subject at hand — and you would already know. It's common knowledge among people who have been following this issue — the ones qualified to comment. And nobody who doesn't know how to use a search engine should be allowed to use Slashdot... or the internets. Just put them in a barge and sail them to the triangle.