- 13 Apr 2021 14:43
#15166390
That's an interesting idea.
24k a year is a pretty large burden for the type of people that have to rent in Austin. Couple this with massive student debt, or the fact that there are entire family's that make less than say 30k a year. How can they support this rent? How can say, a local school teacher support this if they only make 35-40k/yr?
Couple that with all the other expenses in life, like healthcare and trying to save for retirement. $2000 is a lot. Cost of living is relatively higher in Austin. What's jacking up the rent is basically all the Californians moving here and bidding things up.
Basically housing is sucking up all extra income, this is a global problem by the way. Many large cities around the world with the exception of Chinese cities are seeing issues like this.
Rugoz wrote:In Switzerland there's a reference interest rate for mortgages. If it goes down, landlords have to lower rents. It basically puts on limit on how much profit they can make on their investment. There are also lots of building cooperatives, which are non-profit. It has a lot to do with political power. With more tenants than house owners, you get more tenant-friendly legislation.
That's an interesting idea.
Rugoz wrote:I just looked, for $2000/month you get a ~1000sqft apartment in Austin. That doesn't seem excessively expensive.
24k a year is a pretty large burden for the type of people that have to rent in Austin. Couple this with massive student debt, or the fact that there are entire family's that make less than say 30k a year. How can they support this rent? How can say, a local school teacher support this if they only make 35-40k/yr?
Couple that with all the other expenses in life, like healthcare and trying to save for retirement. $2000 is a lot. Cost of living is relatively higher in Austin. What's jacking up the rent is basically all the Californians moving here and bidding things up.
Basically housing is sucking up all extra income, this is a global problem by the way. Many large cities around the world with the exception of Chinese cities are seeing issues like this.
I can think of 11780 reasons Trump shouldn't be president ever again.