Bay Area Home, Rent Prices on the Rise

libertus_rebelium January 10, 2013 at 04:21 am

Thanks slum lords, house flippers and predatory lenders, you have all now over inflated the market again while income stagnates, you get to make money. There's a special place in hell for you.

EC January 10, 2013 at 11:54 am

No kidding; we were both asked to take a salary break in 2008; haven't seen that come back yet however housing, rents, food, gas keep rising-so much for the American Dream...middle class is going away fast giving way to the haves and have nots. So let's take that 2nd and 3rd job just to make ends meet. Rent increase I really have a problem with as it's just more profit for the landlords at the cost to the people who may have had problems with their home ownership, predatory loans etc. and now have to be subjected to this.

TrueRealist January 10, 2013 at 12:58 pm

People will pay what they think something is worth.
Nothing wrong with people making money. Sorry you didn't plan better in life.

Lisa Duluth January 10, 2013 at 01:25 pm

I can't speak to renting but I can speak to selling. Prices are going up because there is nothing on the market. My neighbors have a house for sale in P-town and it was crazy the days of the open house. They said the realtor told them inventory is very very low... there is nothing to buy... so things that are selling are selling at higher prices.
I don't think this has much to do with greed...it's just economics.

Poor in Palo Alto January 10, 2013 at 01:35 pm

We pay $6000 a month rent for a pretty basic 4 bed house in the bay area, it's simple demand and supply. If we were to lave there would be families lining up to rent it as house prices are insane. We are leaving, even though we have a huge income (by national standards) we have never felt poorer! Every other house in our neighbourhood sells to Asians for cash...money is pouring in from India bur mostly China.

mom2graceb January 10, 2013 at 02:08 pm

Something doesn't ring true. Aahhh, now I see it. I re-read the article. It says, "asking price." Not selling price. We live in a desirable neighborhood and I haven't seen 11% price increases in homes that have sold. I'd love to see my home value increase...only time will tell.

Mike January 10, 2013 at 04:01 pm

Only in America can the American dream be realized by foreign house buyers, who fly in, buy ten houses at once, leave the houses with a property management company to rent out, and then fly back to their home country.

Punxnotdead January 10, 2013 at 05:58 pm

uh, i wouldn't call the current East Bay housing market over-inflated, especially not in Dublin. that's about as smart as believing hell actually exists.

Punxnotdead January 10, 2013 at 06:02 pm

Well said. Understanding the laws of supply & demand goes a long way. I worked hard, smartly, and sacrificed to be able to buy my home in March 2012. Super stoked that my hard work, including DIY fixes and improvements, is being rewarded by an increase in my home's value. Love reading articles like this!

Punxnotdead January 10, 2013 at 06:05 pm

Welcome to America, a truly capitalist society!

TrueRealist January 10, 2013 at 07:02 pm

So you're mad that people are making money on houses because it's not you? If you were the one buying 10 houses would you rent them out for cheaper than market values?

EC January 10, 2013 at 07:17 pm

What a simplistic answer-no there is nothing wrong with anyone making a profit however do not profess to know how I planned my life- You and the PUNXNOTDEAD (wow just to come up with a name like that says it all) are just lucky that the curve balls that life sometimes throws us that can leave our lives upside down have not happened to you. What a cynical, jerkish comment to make-well good for both of you-that you made ALL the right decisions in your life and had a little luck- but some of us who played by all the rules and worked hard and planned well could not see what was coming and everyone's situation is different. You simple minded people making a statement like this- get a clue.

Punxnotdead January 10, 2013 at 09:17 pm

EC... you say get a clue then you blame "luck" as something that makes our situations different. I made my own luck and control my own destiny. Everything I have is because I made good choices and make it happen for myself.

Punxnotdead January 10, 2013 at 09:21 pm

Oh and don't be jealous because my screenname is wittier than yours (what a meaningless thing to comment on, BTW). "EC"...how long did it take you to to come up with that gem, eh? Mine refers to my love of puck rock music, which I happen to think is not dead. If you knew about punk or the DIY movement, you would have understood the reference.

TrueRealist January 14, 2013 at 08:02 pm

I don't believe in luck, karma, or any other rubbish that you want to call it. It's amazing how much "luck" a person can conjure up with hard work.
Ps - If you can't afford Livermore there's always Tracy. If you can't afford Tracy, well, that sucks.

max April 11, 2013 at 12:02 am

First they took our jobs and now our homes.

Rich Buckley April 11, 2013 at 10:38 am

Reform our Federal Reserve and Currency
http://tinyurl.com/cwjuun5

Camaro on Cinderblocks April 11, 2013 at 01:41 pm

Alot of people who are complaning about rents are the people who we're foreclosed on and paid no mortagage for 1 to 2 years while still living in the house. Boo hoo...My mortgage payment is very low because I didn't take equity out of my house to buy a corvette like the neighbor who's underwater.