LA rent is falling, with some big drops in luxury buildings

[Wild self]

covid came and crushed gentrifcations buildings

It was about time!

These landlords think shyt is bad now, wait till the economy doesn't rebound quickly.....those rent prices going to be reduced by 50-70%. Their Golden Era of exploitation is OVER.

 

[Wild self]

The gentrification backfired.

Too late most of them people moved out and moved to a whole other state.

This is what greed gets you.

With the pandemic, a lot of white collar jobs gonna be forced to work from home.

 

[MikelArteta]

People couldn’t afford these places in the first place. The amount of people with roommates is astounding.

I know folks here in my city who were paying like 70% of their income for rent

 

[Wild self]

Ain’t no rent control there you get in for 1700 economy come back rent going right back to 2500 they setting someone up for the kill

Half of those businesses are not coming back. They are gone forever, and those workers are leaving the major cities because no real entertainment going on.

 

[Atlrocafella]

Get rent down to under $1K for a 2 bedroom and sign a 4 year lease

 

[Wild self]

I know folks here in my city who were paying like 70% of their income for rent

That's inhumane. The landlords need to get the guillotone treatment for that.

 

[MikelArteta]

That's inhumane. The landlords need to get the guillotone treatment for that.

The average rent for a one-bedroom in Toronto hit $2,299
while you may be lucky to find a job that pays you a good wage

 

[Wild self]

The average rent for a one-bedroom in Toronto hit $2,299
while you may be lucky to find a job that pays you a good wage

Yeah, and that greed is what ended them.

 

[JLova]

I'm working from home now as my.redeployment with covid ended . If this becomes permanent I'll move to like Guelph or London maybe even Windsor and buy a house

I really don't think this will be permanent for most jobs. If I was your employer and saw you moving to London, I'd cut that pay

 

[King Poetic]

I know folks here in my city who were paying like 70% of their income for rent

That’s what they doing here in LA

that’s why u see 4 people all in they 30s sharing a apartment with each other

I knew people who pay $1500 in rent but they earn $2,000 a month ... after rent , bills and groceries they IN THE RED

but it’s the image of living on they own

 

[hotbeezie]

Y’all can have that shyt


Imma stay my black ass in Louisiana

my mortgage is only 1780 for a 4bed/3bath with a pool.

ill visit tho

 

[philmonroe]

Y’all can have that shyt


Imma stay my black ass in Louisiana

my mortgage is only 1780 for a 4bed/3bath with a pool.

ill visit tho

Louisiana lacking though in most parts. I got family near Grambling and the house prices are nice but the nightlife and other stuff is lacking. I love copping some Johnny's when I'm down there though.

 

[UberEatsDriver]

A $300 price drop on a $3800 apartment is not worth an article
These LA, SF and NY price drops stories lowkey seem like covert advertisements from these luxury buildings
I have yet to read an article and actually think it matches the headline. When rents drop $800+ a month let us know, getting a nice 1 bedroom in one of these cities for $1800-2000 will actually be news worthy

With all the amenities that they put in these buildings these cities would have to turn into complete shyt to be under $2,000.

I was checking out an apartment the other week and the building had its own shuttle bus service, outdoor movie theatre, it’s own high end grocery store and it’s own gym on the beach And a bunch of other top quality




In reality they could have built the same exact building without all these luxury items and could have made the rent a lot more affordable.

 

[UberEatsDriver]

Y’all can have that shyt


Imma stay my black ass in Louisiana

my mortgage is only 1780 for a 4bed/3bath with a pool.

ill visit tho

I imagine that mortgage isn’t easily affordable to a lot of people in Louisiana.

I was expecting you to say something like $700 a month or something.

 

[UberEatsDriver]

People couldn’t afford these places in the first place. The amount of people with roommates is astounding.

The only ones who can afford it are the ones renting out studios and 1 bedrooms or high income families but you are right tho. The 3 bedroom and 4 bedroom apartments are literally all room mates. And the people doing them don’t mind cause they run back to mommy and daddy in Connecticut when they want.


I got black clients who are already back home in Louisiana and Arkansas at mom and dad house waiting for the virus to be over with