'People are fighting for apartments': South Florida housing demand driving up rent

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Published 2022-02-08

All Comments (21)
  • newell2003
    Strange how we can protest about masks and vaccine mandates, but not about the housing issues. This is going to make a lot of people homeless and displaced.
  • Tameka Swan
    The sad part is the apartments don't even look as good as what he just showed but the rent keeps going up its ridiculous
  • DrewRueDoo
    What's crazy is that pretty much everyone is getting paid the exact same wages as before...smh.
  • Jay Phillips
    Sucks because I graduated college and was looking at apartments right at the start of the pandemic (Jan-Feb) and decided to stay home because of the uncertainty of it. Apt I was looking at was $1300 (1br 1ba). Now the same apt is going for $1750. Trying to move out as a single person is challenging
  • Woody Norris
    Affordable housing doesn't exist anymore.😢
  • chantalmarieee
    My rent is going up $800/month. Luckily, I was already moving out of state or else I’d definitely be moving back in with my parents. Almost $3k for a one bedroom is ridiculous (to me), even if you can afford it.
  • G.GomezM
    Same thing is happening in Australia. One bedroom apartments renting for 500 per week or selling for 1.1mil in some areas. It's disgusting. Sad that this is happening all around the world.
  • Jean-Claude LOL
    This is not a Florida problem. This is happening all over. It's just as bad if not worse in WA state area, started in Seattle years ago and quickly expanded to the counties north, south and east of Seattle. Only keeps getting worse with time. It's getting to the point where it's becoming increasingly difficult to find any kind of home or condo below $1 million. Not any better for rents, 1 bedroom rents are well above $1,700 and rising.
  • Smartana Jones
    I keep looking at these stories because they keep popping up in my feed. These stories have compelled me to bite the bullet and pay off my mortgage in full this year. At least then no matter what happens to me financially in the future, at least I’ll have a place to call my very own.
    Edit: For all you that keep ranting about taxes and insurance: Taxes and insurance will never (I do mean never) be as expensive as a 15 or 30 year mortgage (at least not where I live). I’m well off where that’s the least of my worries. If I lost my job today, I would be disappointed because I love what I do, but I could live for years without even thinking about getting another job if I didn’t want to work. I say this not because I’m rich, but because with the exception of my house, I’m debt free and I’ve been this way for sometime now because I live way below my means and I’m not the average consumer driven American. When my salary more than doubled in the last 5 years, I still live on less than 50k per year because I never get too comfortable thinking this will be my financial disposition forever and always. In fact I’d rather think that it won’t, so I stash my cash instead of spending it on depreciating or frivolous things. I’m single and with this daunting dating scene out here, I refuse to settle so I may die that way and I’ve made up mind I’m not waiting for anyone to financially take care of or compliment me. With all that said, it is time for me to pay off my home and these type of shelter fragility stories I see day in and day out validate that fact for me personally. I grew up homeless with my mom and siblings having to couch hop from relative to relative so my life experiences about having a stable home and money is very different from others. I’m a high income earner, super saver and investor so I’m not worried about the nominal cost of taxes and insurance compared to the mortgage nor trying to maximize every single dollar in speculative investments. I’m also not concerned about chunking the money into other investments because I’m pretty diversified with my investments and by paying off my home, I’ll not only actually own the property, I’ll also have a guaranteed (yes guaranteed!!! not speculative) ROI on my money 💴 regarding the years of mortgage interest I’ll instantly recapture once I no longer owe the bank. You best believe a bird in hand always beats 2 in the bush. Also I absolutely do not care if the real estate market plummets. I lived through that in my home in 2008 and it didn’t bother me not one bit because unlike my intangible investments (ie stocks, ETFs and Index funds, REITS), every night and day I had a key to open a door to a nice, warm cozy tangible home to shelter and stabilize me and my family and it has since more than doubled in value since 2008. Even though my stocks were also tanking in 2008, I never worried about my home because I didn’t get a predatory loan, thus I slept well at night because I had a home. I even manage to get a property in 2008 that has since quadrupled in value so it goes to show you real estate is the way to go. So again, it just makes sense to pay off my home.
    Growing up with unstable housing is very traumatizing, so a home is way more than an investment to me. It is truly my sanctuary from the world. It’s a place where my family’s roots have been planted, precious memories have been made and our lives unfold — and that is simply priceless to me.
    To sum it all up, I live a financially intentional life on purpose to avoid (or at least mitigate) fiscal catastrophes like how I grew up and these stories I keep seeing online about housing instability every day. I also sincerely appreciate all the encouraging and uplifting comments as well as those who have done it. You truly inspire me.
  • Peter Patton
    I am really angry with the greediness of folk in this world! The cost of living has become more and more unaffordable and the laws prevent or make it difficult for citizen's to achieve suitable cost effective living.
  • Chinkere Anderson
    It needs to be some guidelines in place cause these landlords go up on the rent and don't even invest in the property how u want 2022 prices with 1970 cabinets, appliances, tubs and toilets. Thank God my mom has a house I can stay until I find something worth paying for.
  • Rellie
    For everyone that keeps saying “It’s because everyone is moving here it’s driving up rent” I need y’all to understand, it doesn’t have to. It takes nothing for your municipality to put in a halt to increased rent. It’s being done because your town or city chooses to. That’s it! Hikes don’t usually happen unless your cost of living increases. When has that happened, recently? Oh that’s right it hasn’t. The federal gov’t won’t even raise the minimum wage to $15 (which is still NOT enough anyway) So, all things remaining the same, what’s the justification for the increase? Don’t say due to the VID, because this has been happening since WELL before the panorama. This is why inflation is happening! Our economy is saying ‘your people don’t have the discretionary income to pay for these increased costs, yet they’re increasing.’ Oh that’s right, our government gave all the money to corporations who turned around and fired/laid off workers signaling to the economy workers don’t have money. Again, our economy is ringing the alarm saying something’s off. It’s a warning.
  • C.K
    If you’re a prospective first-time homebuyer hoping (or praying) home prices will decline in 2022, don’t count on it. If people are waiting for a price to decline, well, it’s not going to happen. Heading into the spring of 2022, mortgage rates have increased over a full percentage point and while purchase demand has cooled, it remains firm. Supply remains near record lows, so home price growth is expected to remain high through the spring homebuying season before cooling off later this year as mortgage rates continue to rise.
    Investing in REITs will be a right decision as it's also included in a growing number of defined-benefit and defined-contribution investment plans
  • J A
    Rents were determined by demographics years ago. The income of the area population was a pricing factor. Rents were affordable and increases were typically about 5 % year over year.
    There are many outside management companies buying up rental properties and they have no stake in the community. The rent rates are all about the most profit for their company.
  • Jax of Life
    Humans doing this to humans. God help us.
  • TBI828
    I didn't know that 99% of Americans are multimillionares and billionaires who can afford these prices!!!! I just moved to Florida from Missouri and both houses and apartments are for the ultra-rich!!! I live on social security disability and am 61 years of age. There are NO apartments for less than $2000+ per month!!! How did everyone get to be multimillionare overnight???
  • Tymack Way
    I bought my house 15 years ago in a fairly descent subdivision. My mortgage is below $600. It was hard in the first few years because I got caught up in no down payment when they were just giving out mortgage. Everybody was being foreclosed on.But know I’m thanking God for my home. And I no longer pay PMI.
  • BettiRaige
    This is one of the main reasons why I left Southwest Florida. I am sick of living with roommates. Now I live in my own apartment in Arizona and I have enough money to actually LIVE. I will never go back.
  • Ms Gen Xodus
    This happened to SF in the early 2000's. It also happened in my city (Portland, OR) starting in 2011. If you live someplace with a reasonable housing cost, YOU, yes you are about to take on all the high rent refugees.

    Just yesterday, the City of Portland was looking at warehouse-style shelters, housing thousands of individuals, in these mass housing shelters. There are thousands of homeless people living on the streets of Portland, and all of them were able to pay rent in the recent past.