patrick.net

Soon all renters will be paying $100k/mo for a 12th story studio walkup in Stockton and sucking their landlords dicks twice a day in a futile attempt to keep the landlord just distracted enough from doubling the rent.

No reason in the world such a scenario won't happen, no reason at all...

... Except for the lack of 12th story walk ups in Stockton.

Renters are scum anyways. Raise those rents BABY!!!!!!!!!!!!!!!!!!!!

Fluff piece from housing shills.

I live in corporate owned complex. Rent went up a lot last year but "only" about 5% this year. Lots of complexes are now offering a month or more free.

New Renter says

Soon all renters will be paying $100k/mo for a 12th story studio walkup in Stockton and sucking their landlords dicks twice a day in a futile attempt to keep the landlord just distracted enough from doubling the rent.

LOL! the renters/homeowner employer wont be making any salary increases to cover for higher rents... be they in Stockton or Mt View.

the further higher it goes.. they will make other plans to deal with costs... and they

are all to good at it. It will come down on both renter and homeowner...

thomaswong.1986 says

LOL! the renters/homeowner employer wont be making any salary increases to cover for higher rents... be they in Stockton or Mt View.

Really? They got their salary increases last year...

San Francisco-Oakland-Mateo, Calif.
> 1-yr. wage growth: 24.7%
> Average weekly wage: $1,706
> Dec. 2011 unemployment: 7.2%
> Dec. 2012 unemployment: 6.1%
> 1-yr. employment change: +4.1%

http://finance.yahoo.com/news/american-cities-where-wages-are-soaring-172506054.html?page=2

24% pay increase.

Show this to your boss now !

oaky says

Renters are scum anyways. Raise those rents BABY!!!!!!!!!!!!!!!!!!!!

Fuck the middle class!
Fuck the middle class!

tatupu70 says

thomaswong.1986 says

LOL! the renters/homeowner employer wont be making any salary increases to cover for higher rents... be they in Stockton or Mt View.

Really? They got their salary increases last year...

San Francisco-Oakland-Mateo, Calif.
> 1-yr. wage growth: 24.7%
> Average weekly wage: $1,706
> Dec. 2011 unemployment: 7.2%
> Dec. 2012 unemployment: 6.1%
> 1-yr. employment change: +4.1%

http://finance.yahoo.com/news/american-cities-where-wages-are-soaring-172506054.html?page=2

This is skewed by the exercise of stock options which disproportionally benefits the technocrat class.

Renters are low class not middle classHydroCabron says

oaky says

Renters are scum anyways. Raise those rents BABY!!!!!!!!!!!!!!!!!!!!

Fuck the middle class!

Fuck the middle class!

Facebooksux says

Fluff piece from housing shills.

I live in corporate owned complex. Rent went up a lot last year but "only" about 5% this year. Lots of complexes are now offering a month or more free.

Lots? Not in Mountain View or anywhere near it would be my guess. Just did a quick search and only saw one offering a month free and that was on a $2895 1x1 at a lease-up property. That's an effective rent of $2654 - not exactly cheap for a 1x1.

I do think rents are close to peaking with 1000's of new units set to come online over the next two years. But they are still increasing in most areas. Rents at my properties in SV are up about 10% over last year.

My last year renting from approximately mid 2010 to mid 2011, the pad was going for $1575 a month. That same apartment is currently going for $2120. This works out to about a 34% cumulative increase in 3 years since the last lease was signed. $545 a month or $6540 a year. That represents potential 2 vacations for 2 people per year for flight/hotel. Glad I am out of that BS world 4 life god willing.

mdiablo says

Facebooksux says

Fluff piece from housing shills.

I live in corporate owned complex. Rent went up a lot last year but "only" about 5% this year. Lots of complexes are now offering a month or more free.

Lots? Not in Mountain View or anywhere near it would be my guess. Just did a quick search and only saw one offering a month free and that was on a $2895 1x1 at a lease-up property. That's an effective rent of $2654 - not exactly cheap for a 1x1.

I do think rents are close to peaking with 1000's of new units set to come online over the next two years. But they are still increasing in most areas. Rents at my properties in SV are up about 10% over last year.

Should have been a bit more specific. Not exactly in MV, but just at the northern border with Los Altos/PA.

What I'm seeing personally is a lot of young, skilled professionals and DINKs taking jobs in the city and competing for the limited supply. We finally have some real construction (I walk by that 1190 building almost every day) but it's just not there yet. Meanwhile, folks in rent-controlled units are essentially squatting in a city they can no longer afford.

The wage growth is there, but it seems to be mostly "new" wages. I job-hopped this year for a 22% raise.

Anecdotal, but that's what I see.

I hope our incomes rise as fast. Do they expect people to pay higher and higher percentages of income on housing?

The logical conclusion of some comments here and suggestions is either everyone other than employees with stock benefits in companies with growing stock prices(and those living on interest on investments of course) moves out of San Francisco or a whole lot more apartments get built.

FunTime says

everyone other than employees with stock benefits in companies with growing
stock prices(and those living on interest on investments of course) moves out of
San Francisco or a whole lot more apartments get built.

Or more people start shacking up. There is no reason why a 600sqft 2x1 can't accomodate 6 roommates.

Philistine says

FunTime says

everyone other than employees with stock benefits in companies with growing
stock prices(and those living on interest on investments of course) moves out of
San Francisco or a whole lot more apartments get built.

Or more people start shacking up. There is no reason why a 600sqft 2x1 can't accomodate 6 roommates.

If that happens, the soviets won the cold war without firing a single shot!

dublin hillz says

If that happens, the soviets won the cold war without firing a single shot!

People are free. Adapt. Move to Union City and save big.
Time to gentrify the east bay.

Heraclitusstudent says

dublin hillz says

If that happens, the soviets won the cold war without firing a single shot!

People are free. Adapt. Move to Union City and save big.
Time to gentrify the east bay.

Union city does offer free entertainment of gangbangers being arrested on friday night by century 25 in union landing. A must see for sure!

dublin hillz says

Union city does offer free entertainment of gangbangers being arrested on friday night by century 25 in union landing. A must see for sure!

One has to live within ones means.

Take the jump. And say "Thank you Ben" for the wealth effect.

I was hit with an 8% increase last year in my complex. I just got another letter last week that said they were raising my rent another 8% this year and doubling all other fees like pet rent, garage spaces and stuff. This on top of the month to month premium increasing from 200 to 400 extra per month.

I really gotta get out of this complex but housing is just too fubar'd for me to purchase anything unless I was to eat top ramen every meal to buy a 500k "teardown" property.

Gragorin says

I was hit with an 8% increase last year in my complex. I just got another letter last week that said they were raising my rent another 8% this year and doubling all other fees like pet rent, garage spaces and stuff. This on top of the month to month premium increasing from 200 to 400 extra per month.

I really gotta get out of this complex but housing is just too fubar'd for me to purchase anything unless I was to eat top ramen every meal to buy a 500k "teardown" property.

That does suck. The only option is to relocate to a cheaper area. Is this an option for you?

Gragorin says

I was hit with an 8% increase last year in my complex. I just got another letter last week that said they were raising my rent another 8% this year and doubling all other fees like pet rent, garage spaces and stuff. This on top of the month to month premium increasing from 200 to 400 extra per month.

I really gotta get out of this complex but housing is just too fubar'd for me to purchase anything unless I was to eat top ramen every meal to buy a 500k "teardown" property.

That's one of the main reasons to buy when buy vs rent ratios are reasonable - lock in the housing costs. I received my first substantial raise earlier this year since I bought a house. A raise that felt like it's supposed to vs earlier in my life as a renter where the raise would basically be jacked by the landlord or even worse when a raise in rent could exceed it.

What goes up must come down.

I'm sort of glad I don't live in the bay area though, sounds like it is crazy expensive out there. Sadly explains armies of homeless out there.