Proxymal t1_izc66sn wrote
Reply to comment by IAmRobertoSanchez in Nearly 1 million immigrants became U.S. citizens in past year, the 3rd highest tally on record by CobaltEmu
It's not landlords per say. If a house sells in a neighborhood for an amount above market value, the houses around it go up to. This is how the market justifies demand of an area. The landlords have every right to ask for more money when the property and that area are in high demand. What doesn't help with this is lack of housing and new housing being built.
TucsonTacos t1_izcbhpf wrote
They’re building plenty of new luxury homes and apartments though! /s
IAmRobertoSanchez t1_izcikox wrote
Is it the new legal immigrants that are buying property above asking price? Or wealthy people / companies planning to rent them out to families like ours that can't afford to buy and can barely afford to rent?
Back to your original comment about new legal immigrants flooding the housing market and pricing you out if your houseing. Do you still feel that way after this exercise?
Proxymal t1_izcwhia wrote
There's a lot more.to it than immigrants. But it's certainly not helping at least in my area. You have a great point though. I simply can't help but feel a little sour when part of the reason demand is so high along with rent is because people keep moving here and are able to move into a 2 bedroom with 8 people. My family of 4 including myself just can't keep up with the rising prices. A big part of it is of course that it's a nice place to live. There's housing out there that's not outrageous. But that's just not the case in my home town where I've resided for 31 years.
Aert_is_Life t1_izel0tn wrote
That house just sold to a leasing company who is going to paint it and rent it out for $2000 or more per month.
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