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landlord_newbie
Posts: 29
Registered: ‎11-17-2012
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When will rent stop rising?

When will rent stop rising?

Is SJ a better location to rent than Fremont/Union City?

Gold Contributor
mediaguru
Posts: 1,765
Registered: ‎03-03-2011
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Re: When will rent stop rising?


landlord_newbie wrote:

When will rent stop rising?

Is SJ a better location to rent than Fremont/Union City?


1) Any day now

2) Depends where you work...

Gold Regular Contributor
sheriff
Posts: 2,050
Registered: ‎06-01-2012

Re: When will rent stop rising?

[ Edited ]

mediaguru wrote:

landlord_newbie wrote:

When will rent stop rising?

Is SJ a better location to rent than Fremont/Union City?


1) Any day now

2) Depends where you work...


1) rents will stop rising when jobs are no longer being created in the bay area and the economy sours.  I see them going up

    for the next few years.  Remember some rents are being held back by leases and rent controls.

 2) mediaguru is right on that count.

Silver Contributor
4rent
Posts: 537
Registered: ‎01-28-2011

Re: When will rent stop rising?

there is a reason why rents keep increasing

 

Santa Clara County economy ranked best performing

 

http://www.mercurynews.com/business/ci_22389575/silicon-valley-economy-ranked-best-performing-san-jo...

Platinum Contributor
elt1
Posts: 4,171
Registered: ‎01-04-2010
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Re: When will rent stop rising?

2017

Platinum Super Contributor
buyinghouse
Posts: 5,877
Registered: ‎04-23-2011
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Re: When will rent stop rising?

   The problem is that rents never decreased. For instance, in our rentals they were increasing them every year, but never decreased no matter what the economy was at the time.

   So, I think we have a misconception of increasing rents as if they were increased just yesterday. The reason people like me saw the need to own is because not only rent equaled to owning, but the fact that landlords won't stop biting the renters with their justified or not increases.

 

   Same as sheriff, once we see an exodus of people leaving the BA for any circumstances, rents and prices will go down hill. Will that happen? I don't know, I don't have a crystal ball. If I had it, I would be renting a home in Las Vegas and hitting every single lottery up there and everywhere!

Gold Trusted Contributor
Jil
Posts: 2,747
Registered: ‎10-24-2011
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Re: When will rent stop rising?

[ Edited ]

buyinghouse wrote:

   The problem is that rents never decreased. For instance, in our rentals they were increasing them every year, but never decreased no matter what the economy was at the time.

   So, I think we have a misconception of increasing rents as if they were increased just yesterday. The reason people like me saw the need to own is because not only rent equaled to owning, but the fact that landlords won't stop biting the renters with their justified or not increases.

 

   Same as sheriff, once we see an exodus of people leaving the BA for any circumstances, rents and prices will go down hill. Will that happen? I don't know, I don't have a crystal ball. If I had it, I would be renting a home in Las Vegas and hitting every single lottery up there and everywhere!


I had seen in 2001-2003. I was in 2BD 1BH sunnyvale. Before 2000, rents were increased from $1250 to $1800. Once economy collapsed due to dot.com boom, it came back from $1800 to $1300, Lot of apartments were vacant as around 500000 people left the bay area. I was also laid off as IT company closed the door after 35 years of operations! I was lucky to get a job in a week! Then bought our home after regaining strength after the lay off! However, the same apartments are charging $2300/$2400 now.

 

Ironically, why do a "landlord_newbie" asking this question? He/she should ask the other way, right?

 

Platinum Super Contributor
buyinghouse
Posts: 5,877
Registered: ‎04-23-2011
0

Re: When will rent stop rising?


Jil wrote:

buyinghouse wrote:

   The problem is that rents never decreased. For instance, in our rentals they were increasing them every year, but never decreased no matter what the economy was at the time.

   So, I think we have a misconception of increasing rents as if they were increased just yesterday. The reason people like me saw the need to own is because not only rent equaled to owning, but the fact that landlords won't stop biting the renters with their justified or not increases.

 

   Same as sheriff, once we see an exodus of people leaving the BA for any circumstances, rents and prices will go down hill. Will that happen? I don't know, I don't have a crystal ball. If I had it, I would be renting a home in Las Vegas and hitting every single lottery up there and everywhere!


I had seen in 2001-2003. I was in 2BD 1BH sunnyvale. Before 2000, rents were increased from $1250 to $1800. Once economy collapsed due to dot.com boom, it came back from $1800 to $1300, Lot of apartments were vacant as around 500000 people left the bay area. I was also laid off as IT company closed the door after 35 years of operations! I was lucky to get a job in a week! Then bought our home after regaining strength after the lay off! However, the same apartments are charging $2300/$2400 now.

 

Ironically, why do a "landlord_newbie" asking this question? He/she should ask the other way, right?

 


  Jil, to receive that decrease, you need to move out and find a cheaper one. That's why I tried to explain. Landlords will never, ever go to their tenants and tell them "here you go, a discount on your rent". They will do it when they see most of their tenants leaving to better or cheaper places.

   On the other hand, the OP? Maybe he is like Mr. scrooge, counting his profit and thinking it won't stop ever?:smileyvery-happy:

Gold Trusted Contributor
Jil
Posts: 2,747
Registered: ‎10-24-2011
0

Re: When will rent stop rising?


buyinghouse wrote:

Jil wrote:

buyinghouse wrote:

   The problem is that rents never decreased. For instance, in our rentals they were increasing them every year, but never decreased no matter what the economy was at the time.

   So, I think we have a misconception of increasing rents as if they were increased just yesterday. The reason people like me saw the need to own is because not only rent equaled to owning, but the fact that landlords won't stop biting the renters with their justified or not increases.

 

   Same as sheriff, once we see an exodus of people leaving the BA for any circumstances, rents and prices will go down hill. Will that happen? I don't know, I don't have a crystal ball. If I had it, I would be renting a home in Las Vegas and hitting every single lottery up there and everywhere!


I had seen in 2001-2003. I was in 2BD 1BH sunnyvale. Before 2000, rents were increased from $1250 to $1800. Once economy collapsed due to dot.com boom, it came back from $1800 to $1300, Lot of apartments were vacant as around 500000 people left the bay area. I was also laid off as IT company closed the door after 35 years of operations! I was lucky to get a job in a week! Then bought our home after regaining strength after the lay off! However, the same apartments are charging $2300/$2400 now.

 

Ironically, why do a "landlord_newbie" asking this question? He/she should ask the other way, right?

 


  Jil, to receive that decrease, you need to move out and find a cheaper one. That's why I tried to explain. Landlords will never, ever go to their tenants and tell them "here you go, a discount on your rent". They will do it when they see most of their tenants leaving to better or cheaper places.

   On the other hand, the OP? Maybe he is like Mr. scrooge, counting his profit and thinking it won't stop ever?:smileyvery-happy:


Landlords will never, ever go to their tenants and tell them "here you go, a discount on your rent" ==>I agree this point, no doubt!

 

It just needs a representation and the market condition. In my case, during that time, we went and told the apartment manager if there is no reduction we will move out soon. Within two days he put a notice of rent reduction. Owner or Managers do not automatically reduce, but upon requests they will reduce when they know market is dropped.

 

 

Super Contributor
BayAreaLifer
Posts: 269
Registered: ‎08-24-2011

Re: When will rent stop rising?

I was just posting about 2001-2003 in another thread.  A tech friend of mine renting in San Jose at a big complex actually WAS given a 20-25% decrease in rent that he didn't even ask for back then.  They were losing tenants left and right.