Oh gee, you mean, Landlords are FIXING PRICES on rental properties? Next you'll be telling me Santa Claus is just some fat guy in a red suit.
In Utah (where I am) there are no "tenant's rights." Landlords are all legislators and have passed laws that prohibit tenets from ever taking them to court or having any legal recourse against them.
And now you're telling me they are complete bastards as well. Who would have guessed.
My friend in Los Angeles has a rent controlled apartment. He’s paying $1,100 per month for a 1 bedroom apartment in West Hollywood. Meanwhile my landlord has raised my rent 22% in the last two years.
Between rent increases and student loans kicking back in, my COL has increased $5000 a year, with zero commensurate increase in wages.
I’ve told my family not to get me anything for Christmas because I sure as hell can’t reciprocate it this year. I may not even be able to afford the gas to drive there and back. But the economy is doing great, so I hear.
I had a one bedroom in Salt Lake for years, very nice top floor apartment with a huge porch and view overlooking most of the valley. I was paying $1300 a month at the time, but the rent kept going up astronomically every year. Now it's over $3670 a month and without them making any improvements of any kind - I had to move out but I hated giving up my amazing view.
Most renters in Salt Lake are now homeless, the wages here are ridiculously low but housing prices are among the highest in the world here.
It might be the only way you CAN save any money these days. I was (kinda) lucky in that my only surviving parent is elderly, has a huge home so I was able to move in with her to be her caretaker - now I'm finally able to save money since I no longer have rent payments. It's a trade off but it has helped me get a little bit ahead.
