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0 pointshorsawlarway4y ago0 comments

Are you renting from owner operators, or from a corporate owner?

Because my experience with renting apartments was that rates will go up at every renewal - don't like it? Move.

I could rent a new construction 2 bedroom luxury apartment in midtown Atlanta and pay about 1250/month in 2011 (I did this several times with buddies) - usually between 1200 and 1400 sqft. Now you can only rent much older units (constructed 70s to 90s) usually 1 bedroom or a loft for that price - usually around 900sqft.

I just searched the area I used to live for anything with 2 bedroom for 1250 and below. There is one result, and it's old student housing.

If I wanted a comparable apartment to something I could rent 10 years ago for 1250, most options now start at 2500.

Now - home prices have also spiked in my area, but the population growth doesn't seem to be slowing at all, and if I buy I'm no longer subject to yearly increases, and the perils of the rental market continuing to heat up.

Basically - owning means I get to still live where I am after the gentrification occurs. Because as a renter I'll likely be pushed out of the area (even if renting still is cheaper somewhere else in the city)

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axaxs4y ago

I only rent from individuals who own the home. People should never give money to the likes of BlackRock or Invitation Homes, who are helping destroy the housing market.

Rant aside, there's certainly nothing wrong with owning. I plan to probably settle down and buy this year in fact. I was just trying to show that renting isn't all bad, and certainly has some pros over owning

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