That’s true. I have clients in the Bay Area, who are retired, and living only off Social Security and depend on rent control. They’ve been in the same place for 20+ years and know what will happen if they move!
I don't disagree, but Arizona law (ARS 33-1329) https://www.azleg.gov/ars/33/01329.htm prohibits cities/towns from enacting most types of rent control by statute- it can only be done at the state level (unless owned/subsidised/financed/insured by the city/town).
It would take a concerted effort by AZ state reps who actually give a damn about people in AZ who aren't organized or can donate tons of money to their campaign.
CA doesn’t need to grow anymore🤣 The more you build the more water you need! My daughter is paying $800 a month to share a room with someone else in a 2 bedroom townhome in Santa Barbara, CA
That’s partially true. everything is more expensive in California from groceries, gas etc. also contributing to this exodus of people from California to Arizona would be the high crime rates in the bigger cities. The people who grow up in the suburban areas can’t afford to purchase homes because the prices are even higher than the bigger cities, especially since Covid. My parents own rental properties on the Central coast of California, and I get calls every so often with people trying to purchase the properties even though they’re not listed.
Rent control would prevent Arizona rent from increasing. California waited too long to enact this law, which is why once beautiful beaches like Venice Beach are now homeless encampments.
I'm sure it has some negatives. One it doesn't stop a landlord from charging 3x more to a new tenant, however it does help existing tenants that are retired, and on fixed incomes.
Yes, what happens is people get locked in to underpaying and other units have to pay more to compensate. It reduces the profits for landlords, and also reduces the overall housing supply. In theory I like the idea but the economics are the facts.
So you think the rent increases have nothing to do with the inflation affecting everything else? Taxes, insurance, repair costs, utilities, etc.? Take a risk. Buy a rental property and see what you’ll need to charge to make ends meet. Insurance alone has gone up like 40% in the last two years. Rent control just creates slums that no one will invest in to repair. Increasing supply of housing will help.
No actually I have a few rental units, and have for many years in Arizona. I’m not rich, and owning the units has never been much more than a break even business. I would say that most “landlords” in Az are just mom & pop owners that bought a second house with a mortgage at some point, and stretched to do it, though most tenants think they’re wealthy. Even playing the long game to sell for equity after 20 or so years, you’re taxed for 1/2 of that gain. Most of my tenants have said I’m one of the best landlords they’ve had. Nobody likes to raise rent, and for years I seldom have. The last time I raised rents was over 5 years ago but I just recently had to with steeply rising expenses. Insurance has gone nuts and it used be you could just shop for a better price. Not so much anymore. Everything has gone up like 30% in the last 2-3 years. If you choose to be a rent lifer (I don’t recommend it) so that your landlord gets the bill for repairs & major expenses which have gone way up, you have to expect that the cost of rent will follow inflation. As for rent control, I could be wrong but I expect it’s usually set lower than 10%. Can you please also force a cap on what my insurance company charges and the ac repair guy? It’s not necessary. For one, it would force rent increases every year where otherwise the owner may not have. Under normal circumstances supply & demand should determine rents. Yes we need to allow more supply, get interest rates under control so people can buy homes. Let the bashing begin! lol
A 10% annual raise cap does not "create slums". If landlording becomes slightly less profitable why would that be bad? It's already too easy to turn capital into income through the vehicle of housing. We want fewer people to be interested in doing that. Let them choose a more productive way to make money, like being a developer.
nobody is repairing the increased rentals now....slapping a coat of paint on, installing a fancy ceiling light or two and some other off the shelf Home Depot fixings is not repair. ....it's lipstick on a pig and then they try to justify a 75 % price increase.
https://preview.redd.it/fpba6v71au6d1.jpeg?width=3024&format=pjpg&auto=webp&s=300d63fc887415dfad8cab0b814b2d552161fe9a
Not in Tucson yet but currently living through it lol, painting a pig
There is a lawsuit filed by the state of Arizona against multiple corporations who own rental property and colluded to increase rent prices to force tenants to pay exorbitant rates. If you are a renter who was impacted by this you can add your name and maybe even get some money back
https://www.tiktok.com/@coppercourier/video/7351434085618781482?_t=8mz91x7Ko0d&_r=
https://preview.redd.it/gy8iioo9bt6d1.jpeg?width=193&format=pjpg&auto=webp&s=9d53a951a40edeb3020b705004ef51adacad484e
Everyday my hate for landlords gets closer to its limit
Me too. I worked as a server then at a small restaurant, day shift only, like 36 hours a week and I was able to *save money!!* and now I make about 30% more than I did then (hard to say given tips then) and can barely/not afford a rent cost that’s double the 2013 amount. Of course then I didn’t have a car or health insurance but still. It shouldn’t fucking be like this and it makes me furious. Other than dual income households, I don’t know how anyone is getting by unless they make six figures.
Come to the Tucson Mountains area! Not only can you pay way too much for a shoebox in a complex that shuts your water off without notice multiple times a month, but you ALSO have ample opportunity for a snake, wasp OR javelina attack! 🌈 ✨
That is wild to see. Even if it was 10 years ago, the rate that rental prices have skyrocketed in just the past few years seems exponential compared to previous years. I rent a tiny 1br apartment with no yard now for $200 more than I paid for that 2br with a private front and backyard 🥴
The whole rental market just blows. Up here in the Phoenix metro, good luck finding anything for under $1300 that isn’t a shit pile. I can’t afford to rent anywhere decent by myself.
Just looked at a house they're selling for $240,000.
They bought it 3 years ago for $170,000.
Multiple offers the first day it was listed.
It's bananas.
That's just Zillow's estimate, though. Doesn't mean they are actually charging that much. That said, I would not be surprised at all if they were charging that much.
I found this place on Zillow when I rented it the first time around so I assume it's accurate, but you're right, may not be. The property managers were a super-rich pair of brothers who were so disconnected with the lives of the tenants and only cared about those sweet rent checks being delivered to their Foothills compound.
The house next to me is 1750/mo and I pay 1100. Some people from Texas bought it and now rent it out just like basically every other house out here. Something needs to be restricted or regulated somehow.
Part of it is due to 2020/21 being the lowest year for interest on homes loans. That means you could buy more house for less monthly payment. Now rates for those same homes bought today are 6-7% that translates to a much higher monthly payment. Which means rent has to be more for those properties, so naturally rent prices will reflect the new norm because few people are going to leave money on the table even if they have a cheaper payment due to securing a lower interest rate.
that’s just one factor in the market, but a fairly important one to note.
Yep, from 2018-2022 I rented a 2bd place by Anza Park for 595 a month. It's now being rented as a luxury student apartment for 1375 a month with nothing more than a coat of paint and a few stainless steel appliances.
When I moved here from Phoenix area a few years ago, the salary offered at comparable jobs here was wayyyy lower than I was making there. HR kept saying it’s because the cost of living is cheaper here than Phoenix. But I didn’t LIVE in Phoenix, I worked there and lived in a tiny apartment in “the bad part” of Mesa. And I wouldn’t have been able to get an apartment in Tucson for less than I was paying in Mesa.
Yeah, people keep saying "look at other/high-COL cities and it's worse" but I have friends in LA who are paying MAYBE $100-$200 more for apartments just like mine here in Tucson. People in my industry also make waaayyy more there and as far as I can tell everyday costs aren't more expensive than they are here.
I finally had enough, I was paying 1200 a month to live in a trailer park on prince and stone. The owner lives in California, never actually met the dude. The trailer had so much water damage and black mold I could not even get renters insurance. Homicides were a weekly thing, my last straw was the swat team showing up one Sunday evening for one of the neighbors.
Tucson is really the worse place I've ever tried living. Drugs are cheap and available, rent is not affordable.
The biggest fuck you would be letting these sit vacant and rot. The coordination would be the hardest part because people are desperate and bought into the fear of missing out. The food industry broke down and lowered prices there’s gotta be a way to fight back here in tandem with legal challenges
We should all start fasting. I did a five day water fast last summer if everyone could sync their fasting we could
protest together against rising food prices
Rented on 5 points on 2021 for 1100 moves out 2023 because they increase to 1900, did not had any amnmenities and all others utility bills were not included,
Parts of detroit are dangerous. Full of abandoned buildings with gangs and drugs, violence etc. And not to mention fridgid winters and salt on the roads to rust your car....no thanks!🤣 Not to say we don't have a problem with crime here, but its pretty clear where it is in Detroit.
The 4 months of nice weather doesn’t offset the 3 months of hell and additional 2 months of summer, plus frigid means normal ie 2-3 months with highs below or close to freezing which you can dress for and shouldn’t bother anyone below the age of 70 without nerve damage or circulatory problems. All you have to do is dress appropriately instead of here where you probably shouldn’t be exerting yourself outside between 10am-5/7pm.
Plus in Detroit few people live in the dangerous areas and most of the metro is safe. Whereas here one of the friendly locals will follow you into Menlo Park and shoot you because you upset him on I-10. This is just North Nogales outside of the campus areas and the foothills
2020, 1b1b apartment, rented for $780, fast foward 3 years, they asked for $1200 lol
It was one of the companies that the AZ attorney has sued for illegal rent raise, now their websites doesn't even show the price
It's fucked everywhere unfortunately, not just Tucson
It's fairly well known that housing prices have increased in the USA in recent years. Be happy this isn't a higher cost of living area. Y'all seen prices in Phoenix? San Diego? LA?
I have a few friends that have moved to LA and old friends there from when I lived there in my early 20s. They pay about the same as I do here in Tucson for similar apartments.
H$L did the same. We paid $750 for a 2bd 2ba apartment in 2019. They upped it every year. We moved last year when it was going to be over $1300. During that time, they never upgraded anything. Our apartment was partially flooded twice. One from the roots issue Brittany C. has.
The other time was a water line break under the neighbors foundation. They expected us to take care of the carpet drying. My understanding is most of Az apartments went up due to them. They were evicting people during covid and started raising prices due to their lawsuits
I paid $575 (initially) at 2120 Speedway in West Tucson for the first year, by year three it was $775 a month. A lot of shootings and police activity kept me up at night. I was even assaulted by a schizophrenic Latina on my doorstep one night after work. The cops came to arrest her after she ran away from her lesbian lover.
Hedge funds have been buying up all of the housing in the last 2 years and turning them into rentals. AZ has not kept pace with apartment unit demands for many years. Also people converrting homes into short term rentals have taken many homes off of the market. Combine that with the higher cost in materials for new homes, water restrictions, and demand caused by outsiders flooding to AZ, prices are going to rise. People/companies will charge what the market will bear. Think interest rastes are high? Should have tried buying a house in the 80s and 90s when the rates were up to 10%. https://www.peoplesworld.org/article/wall-street-hedge-funds-are-buying-whole-neighborhoods-driving-up-home-prices/#:\~:text=All%20over%20America%2C%20hedge%20funds,converted%20the%20properties%20to%20rentals.
Ten years ago I had a 2 bed 2 bath on the north west side with in unit washer and dryer and I paid 699/month.
I now pay over 800 for a small studio and that’s considered CHEAP right now.
I personally love sweet rent checks. The absolute best was when I had student housing units, and all the kids paid by Venmo. At that time, whenever I received a payment, the phone would make a cash register sound. I'd be in a meeting, at dinner, whatever, and that sound would go off. Folks looked at me like "What's that?". I said, "It's the sound of money." Never got old......
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The crazy part is who wants to live in the city homeless drug addicts everywhere the streets are dirty weeds growing in median and sidewalks I have seen nicer 3rd world countries. Romerostan is my new name for Tucson oh and don’t forget about the crime and drug problem
Rent control is a bad idea might look good on paper , but incentives are mismatched . Show me a luxurious rent controlled complex . Hell , she me a modest one .
Well, the bio-security-state-induced supply chain disruptions followed by massive corporate welfare (with a pittance of stimmy checks) and re-shoring did really distort things. There is plenty of blame to go around for that though. You have to admit that its clever marketing to try to pin it exclusively on Biden.
I rented a ghetto one bedroom off of Kolb and Broadway in 2018 for $570 a month. They want $1400 now for the same bed bug infested place
Arizona needs rent control laws in place. In CA landlords are limited to how much they can increase rent on an annual basis
I believe that’s only for tenants who choose to stay there. Once you leave they can jack it up however much they want for the next guy
That’s true. I have clients in the Bay Area, who are retired, and living only off Social Security and depend on rent control. They’ve been in the same place for 20+ years and know what will happen if they move!
I don't disagree, but Arizona law (ARS 33-1329) https://www.azleg.gov/ars/33/01329.htm prohibits cities/towns from enacting most types of rent control by statute- it can only be done at the state level (unless owned/subsidised/financed/insured by the city/town).
AZ legislators don't care about the people they govern unless they're active or former military. Or wealthy. Period.
… or up for re-election
It would take a concerted effort by AZ state reps who actually give a damn about people in AZ who aren't organized or can donate tons of money to their campaign.
How is that working out for them?
It’s helping, but probably should’ve started closer to 2000-2005
Its working so well that people move from rent controlled CA in such massive quantities that rent in AZ skyrockets.
CA doesn’t need to grow anymore🤣 The more you build the more water you need! My daughter is paying $800 a month to share a room with someone else in a 2 bedroom townhome in Santa Barbara, CA
That’s partially true. everything is more expensive in California from groceries, gas etc. also contributing to this exodus of people from California to Arizona would be the high crime rates in the bigger cities. The people who grow up in the suburban areas can’t afford to purchase homes because the prices are even higher than the bigger cities, especially since Covid. My parents own rental properties on the Central coast of California, and I get calls every so often with people trying to purchase the properties even though they’re not listed.
No. Arizona does not need to be like California, at all.
Rent control would prevent Arizona rent from increasing. California waited too long to enact this law, which is why once beautiful beaches like Venice Beach are now homeless encampments.
All economic studies show that rent control does not stop rent from increasing. If it worked I would be all for it. It makes things worse.
I'm sure it has some negatives. One it doesn't stop a landlord from charging 3x more to a new tenant, however it does help existing tenants that are retired, and on fixed incomes.
Yes, what happens is people get locked in to underpaying and other units have to pay more to compensate. It reduces the profits for landlords, and also reduces the overall housing supply. In theory I like the idea but the economics are the facts.
So you think the rent increases have nothing to do with the inflation affecting everything else? Taxes, insurance, repair costs, utilities, etc.? Take a risk. Buy a rental property and see what you’ll need to charge to make ends meet. Insurance alone has gone up like 40% in the last two years. Rent control just creates slums that no one will invest in to repair. Increasing supply of housing will help.
Lmao. This dude logging on to defend landlords.
No actually I have a few rental units, and have for many years in Arizona. I’m not rich, and owning the units has never been much more than a break even business. I would say that most “landlords” in Az are just mom & pop owners that bought a second house with a mortgage at some point, and stretched to do it, though most tenants think they’re wealthy. Even playing the long game to sell for equity after 20 or so years, you’re taxed for 1/2 of that gain. Most of my tenants have said I’m one of the best landlords they’ve had. Nobody likes to raise rent, and for years I seldom have. The last time I raised rents was over 5 years ago but I just recently had to with steeply rising expenses. Insurance has gone nuts and it used be you could just shop for a better price. Not so much anymore. Everything has gone up like 30% in the last 2-3 years. If you choose to be a rent lifer (I don’t recommend it) so that your landlord gets the bill for repairs & major expenses which have gone way up, you have to expect that the cost of rent will follow inflation. As for rent control, I could be wrong but I expect it’s usually set lower than 10%. Can you please also force a cap on what my insurance company charges and the ac repair guy? It’s not necessary. For one, it would force rent increases every year where otherwise the owner may not have. Under normal circumstances supply & demand should determine rents. Yes we need to allow more supply, get interest rates under control so people can buy homes. Let the bashing begin! lol
A 10% annual raise cap does not "create slums". If landlording becomes slightly less profitable why would that be bad? It's already too easy to turn capital into income through the vehicle of housing. We want fewer people to be interested in doing that. Let them choose a more productive way to make money, like being a developer.
nobody is repairing the increased rentals now....slapping a coat of paint on, installing a fancy ceiling light or two and some other off the shelf Home Depot fixings is not repair. ....it's lipstick on a pig and then they try to justify a 75 % price increase.
Have your homeownership costs doubled since 2021? Or, are you speaking on this topic with zero qualifications
If you moved they did.
Wild to me that people think landlords cost increased enough to warrant rent increasing by more than 2x!
Yes but SURELY the landlords made all sorts of upgrades and fixed the place up right?
Best we can do is white or gray paint over everything and lie
https://preview.redd.it/fpba6v71au6d1.jpeg?width=3024&format=pjpg&auto=webp&s=300d63fc887415dfad8cab0b814b2d552161fe9a Not in Tucson yet but currently living through it lol, painting a pig
Or they were part of a huge Santa Rita/South Tucson rebrand?? I miss the days when outsiders were scared of these areas.... Sigh
😂
Haha, it's Tucson. Tf is an upgrade?!
House across the street from me sold to a flipper for $110k. It was then sold for $385k after it was finished in 2021.
"Finished" probably being some paint, quartz counter tops, and maybe new flooring and nothing else for an extra $275k.
They need to stop forcing people to buy these renovated houses. Clearly the flipper controlled the market........
This is so depressing :(
I rented a 1 bedroom in 2010 for $375 lol
There is a lawsuit filed by the state of Arizona against multiple corporations who own rental property and colluded to increase rent prices to force tenants to pay exorbitant rates. If you are a renter who was impacted by this you can add your name and maybe even get some money back https://www.tiktok.com/@coppercourier/video/7351434085618781482?_t=8mz91x7Ko0d&_r=
Yeah but that won't stop the rest of these bastards from continuing the rent hikes
I guess the only hope is that if the returns on extortion subside, the real estate crowd will have to return to development?
https://preview.redd.it/gy8iioo9bt6d1.jpeg?width=193&format=pjpg&auto=webp&s=9d53a951a40edeb3020b705004ef51adacad484e Everyday my hate for landlords gets closer to its limit
LMAO you win Reddit today
Lolol this made me smile😂
Gonna kill the educated and sparrows? edit: oh no! I pissed off the Chinese. How will I ever recover 🤣!
Don't worry you'll be safe
I rented a place on Stone near armory park ending in 2013, for $575/mo. 600sq ft place. Looks like in 2023 it was listed for rent for $1100. Crazy.
This makes me wanna get attacked by a javelina
Me too. I worked as a server then at a small restaurant, day shift only, like 36 hours a week and I was able to *save money!!* and now I make about 30% more than I did then (hard to say given tips then) and can barely/not afford a rent cost that’s double the 2013 amount. Of course then I didn’t have a car or health insurance but still. It shouldn’t fucking be like this and it makes me furious. Other than dual income households, I don’t know how anyone is getting by unless they make six figures.
Come to the Tucson Mountains area! Not only can you pay way too much for a shoebox in a complex that shuts your water off without notice multiple times a month, but you ALSO have ample opportunity for a snake, wasp OR javelina attack! 🌈 ✨
I lived out past the Tucson mountains as a very young kid! In retrospect that area (the rural kinda one) reminds me of Apache Junction up here. Blech.
That is wild to see. Even if it was 10 years ago, the rate that rental prices have skyrocketed in just the past few years seems exponential compared to previous years. I rent a tiny 1br apartment with no yard now for $200 more than I paid for that 2br with a private front and backyard 🥴
The whole rental market just blows. Up here in the Phoenix metro, good luck finding anything for under $1300 that isn’t a shit pile. I can’t afford to rent anywhere decent by myself.
Just looked at a house they're selling for $240,000. They bought it 3 years ago for $170,000. Multiple offers the first day it was listed. It's bananas.
AZ loves its profiteers. Hates people without a home.
That's just Zillow's estimate, though. Doesn't mean they are actually charging that much. That said, I would not be surprised at all if they were charging that much.
I found this place on Zillow when I rented it the first time around so I assume it's accurate, but you're right, may not be. The property managers were a super-rich pair of brothers who were so disconnected with the lives of the tenants and only cared about those sweet rent checks being delivered to their Foothills compound.
Yup. Definitely sounds like the type to squeeze every cent they can out of there :/
Sounds like a certain property management company whose name rhymes with "Benton."
Hahaha fuck Steve Fenton and Fenton Investment Company
Sold a condo for 100k 5 years ago... it's 270k now lmao
Landlords are just doing their part in keeping good hard working Americans down. Unless we do something these ticks of society will keep feeding.
The house next to me is 1750/mo and I pay 1100. Some people from Texas bought it and now rent it out just like basically every other house out here. Something needs to be restricted or regulated somehow.
Part of it is due to 2020/21 being the lowest year for interest on homes loans. That means you could buy more house for less monthly payment. Now rates for those same homes bought today are 6-7% that translates to a much higher monthly payment. Which means rent has to be more for those properties, so naturally rent prices will reflect the new norm because few people are going to leave money on the table even if they have a cheaper payment due to securing a lower interest rate. that’s just one factor in the market, but a fairly important one to note.
[lawsuit against rental properties in Arizona](https://www.instagram.com/reel/C5yvHMfNPuB/?igsh=MWNyOWlhMTFuaGFteQ==)
Yep. I rented for $1200 when I moved here 7 years ago. The same rentals now go for $2000+. It’s completely depressing.
Yep, from 2018-2022 I rented a 2bd place by Anza Park for 595 a month. It's now being rented as a luxury student apartment for 1375 a month with nothing more than a coat of paint and a few stainless steel appliances.
When I moved here from Phoenix area a few years ago, the salary offered at comparable jobs here was wayyyy lower than I was making there. HR kept saying it’s because the cost of living is cheaper here than Phoenix. But I didn’t LIVE in Phoenix, I worked there and lived in a tiny apartment in “the bad part” of Mesa. And I wouldn’t have been able to get an apartment in Tucson for less than I was paying in Mesa.
Yeah, people keep saying "look at other/high-COL cities and it's worse" but I have friends in LA who are paying MAYBE $100-$200 more for apartments just like mine here in Tucson. People in my industry also make waaayyy more there and as far as I can tell everyday costs aren't more expensive than they are here.
This is why my adult kids had to move home
I finally had enough, I was paying 1200 a month to live in a trailer park on prince and stone. The owner lives in California, never actually met the dude. The trailer had so much water damage and black mold I could not even get renters insurance. Homicides were a weekly thing, my last straw was the swat team showing up one Sunday evening for one of the neighbors. Tucson is really the worse place I've ever tried living. Drugs are cheap and available, rent is not affordable.
Price gouging at its finest
The biggest fuck you would be letting these sit vacant and rot. The coordination would be the hardest part because people are desperate and bought into the fear of missing out. The food industry broke down and lowered prices there’s gotta be a way to fight back here in tandem with legal challenges
We should all start fasting. I did a five day water fast last summer if everyone could sync their fasting we could protest together against rising food prices
Things are getting crazy inflation and also minimum wages goes up everything goes up even if you make more money now its not enough
Rent control creates shortages.
Rented on 5 points on 2021 for 1100 moves out 2023 because they increase to 1900, did not had any amnmenities and all others utility bills were not included,
My happy ass is moving back north where there’s fewer there’s decent weather, safer roads, and fewer psychos… like Detroit
Parts of detroit are dangerous. Full of abandoned buildings with gangs and drugs, violence etc. And not to mention fridgid winters and salt on the roads to rust your car....no thanks!🤣 Not to say we don't have a problem with crime here, but its pretty clear where it is in Detroit.
The 4 months of nice weather doesn’t offset the 3 months of hell and additional 2 months of summer, plus frigid means normal ie 2-3 months with highs below or close to freezing which you can dress for and shouldn’t bother anyone below the age of 70 without nerve damage or circulatory problems. All you have to do is dress appropriately instead of here where you probably shouldn’t be exerting yourself outside between 10am-5/7pm. Plus in Detroit few people live in the dangerous areas and most of the metro is safe. Whereas here one of the friendly locals will follow you into Menlo Park and shoot you because you upset him on I-10. This is just North Nogales outside of the campus areas and the foothills
My last rental was $315/month Midtown in 1999.
I have you beat, I was paying $240/month in Sam Hughes that year for about 8 years - that place passed from friend to friend
2020, 1b1b apartment, rented for $780, fast foward 3 years, they asked for $1200 lol It was one of the companies that the AZ attorney has sued for illegal rent raise, now their websites doesn't even show the price It's fucked everywhere unfortunately, not just Tucson
It's fairly well known that housing prices have increased in the USA in recent years. Be happy this isn't a higher cost of living area. Y'all seen prices in Phoenix? San Diego? LA?
I have a few friends that have moved to LA and old friends there from when I lived there in my early 20s. They pay about the same as I do here in Tucson for similar apartments.
H$L did the same. We paid $750 for a 2bd 2ba apartment in 2019. They upped it every year. We moved last year when it was going to be over $1300. During that time, they never upgraded anything. Our apartment was partially flooded twice. One from the roots issue Brittany C. has. The other time was a water line break under the neighbors foundation. They expected us to take care of the carpet drying. My understanding is most of Az apartments went up due to them. They were evicting people during covid and started raising prices due to their lawsuits
I paid $575 (initially) at 2120 Speedway in West Tucson for the first year, by year three it was $775 a month. A lot of shootings and police activity kept me up at night. I was even assaulted by a schizophrenic Latina on my doorstep one night after work. The cops came to arrest her after she ran away from her lesbian lover.
Hedge funds have been buying up all of the housing in the last 2 years and turning them into rentals. AZ has not kept pace with apartment unit demands for many years. Also people converrting homes into short term rentals have taken many homes off of the market. Combine that with the higher cost in materials for new homes, water restrictions, and demand caused by outsiders flooding to AZ, prices are going to rise. People/companies will charge what the market will bear. Think interest rastes are high? Should have tried buying a house in the 80s and 90s when the rates were up to 10%. https://www.peoplesworld.org/article/wall-street-hedge-funds-are-buying-whole-neighborhoods-driving-up-home-prices/#:\~:text=All%20over%20America%2C%20hedge%20funds,converted%20the%20properties%20to%20rentals.
Yes but the prices were asymmetrically lower than they are today. I’d take 10-12% on 60-80k over 7% on 500k any time
Ten years ago I had a 2 bed 2 bath on the north west side with in unit washer and dryer and I paid 699/month. I now pay over 800 for a small studio and that’s considered CHEAP right now.
God, no wonder it's so hard for my partner and i to find a place out here
Califaction
Ok? Prices are increasing, obviously. $675 was realllly cheap even for 2021
$675 was not really cheap for the area, it was average. "Increasing" is different from literally DOUBLING
I personally love sweet rent checks. The absolute best was when I had student housing units, and all the kids paid by Venmo. At that time, whenever I received a payment, the phone would make a cash register sound. I'd be in a meeting, at dinner, whatever, and that sound would go off. Folks looked at me like "What's that?". I said, "It's the sound of money." Never got old......
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The crazy part is who wants to live in the city homeless drug addicts everywhere the streets are dirty weeds growing in median and sidewalks I have seen nicer 3rd world countries. Romerostan is my new name for Tucson oh and don’t forget about the crime and drug problem
That's Bidnomics, jack.
Rent control is a bad idea might look good on paper , but incentives are mismatched . Show me a luxurious rent controlled complex . Hell , she me a modest one .
Vote for Biden, then it'll be $3500 next year!
You think the president controls the price of your rent? Are you ok?
According to username, no, he has a TBI, which explains things *perfectly*
Well, the bio-security-state-induced supply chain disruptions followed by massive corporate welfare (with a pittance of stimmy checks) and re-shoring did really distort things. There is plenty of blame to go around for that though. You have to admit that its clever marketing to try to pin it exclusively on Biden.
Oof my guy. That’s not how that works.
Whether it's Biden or Trump wins, the rest of us lose.
How much was RENT under Trump? How much was gas? How much were eggs? I think you are wrong about that.
How much did wealth transfer under Trump? How much did the tax burden shift because of his tax policy? Trillions of dollars? Oh, that's not good.
Yeah, he’s in here just trying to piss people off, don’t feed the troll.
Want me to really really piss you off? I own my house…
Not sure how that's supposed to piss me off, especially considering I own mine
Who ran up an $8T deficit? Hint: Rhymes with VonShitzenpants.