A year ago, rents were posting 11% annual growth. Now they look like they’re about to go negative year over year.
As always, YIMBY.
As always, fuck NIMBY.
Building new housing is good for everyone.
In 2020, we had plans to move out of a place that is getting a bit cramped for our growing family. The place we were looking at was only a couple hundred more then our current place. Nearly 2x the size, extra bedroom, private 2 car garage, a pool, on site gym, and a club house for gatherings etc. They more than doubled the rent before our current lease ran out, so we just decided to stay here. Now our landlord is talking about raising our rent $300 next year, which is more then the new place would have been without any of those amenities. So I really hope that rents do come down.
@CoffeeAddict hopefully trend can continue even in face of supply issues, labor shortages, and inflation.
