Submitted by moisheah t3_11zqwg5 in WorcesterMA
Kirbyoto t1_jddo38g wrote
I moved from a $900/mo 1br apartment to a $2000/mo 3br house. Sometimes I worry it was the wrong choice, but then I see that people are being asked to pay the same amount just to rent a studio apartment. It's ridiculous. Who are these for?
legalpretzel t1_jddr5l8 wrote
Seriously. Our mortgage on our 4BR house (it’s small, ancient and came with tons of issues) is less than a studio apartment.
This is why we left Boston 7 years ago - because rent was out of control ridiculous - but the ridiculous prices have spread everywhere.
It has to stop somewhere, and the newer buildings should be more expensive. But the idea that increasing supply will lower costs is going to hit a barrier because all those overpriced 3-families that sold in the last 3 years aren’t going to magically drop their rent prices because those owners have mortgages to pay on buildings that are probably underwater now.
Edited words
NativeMasshole t1_jdevs6e wrote
Builders are also going to pull back if prices really start dropping. The idea that the free market and some zoning ordinances are going to fix this is ridiculous. This has gone on for way, way too long without the government directly investing in low-income housing. Obviously subsidizing rents ain't working.
dupattaluella t1_jdicll9 wrote
Do we have the same house?! Lol. We also have a 4br/1ba; it will be 1.75 bath once we enclose the laundry room with the random toilet and shower in the basement. But, it's cheaper than the rent for these studio apartments. Even adding in property taxes it's still cheaper than a studio.
Turbulent_Leg6503 t1_jdimycc wrote
Give yourself credit. I just read about 2 full bathrooms
dupattaluella t1_jdir7j4 wrote
I like my house for the most part. It's old and needs a lot of work, but we have almost half an acre of land and bought it when prices were lower (2016). It would probably go for $350-400k nowadays.
A_Man_Who_Writes t1_jddsr1r wrote
Moved from a $1000 1 bedroom to a $1,500 3 bedroom and regretted the choice for a while. Now every 3 bedroom in my area starts at $1,800 and my apartment is now the bargain deal
1upnate t1_jdegcjw wrote
I would venture to say these are probably targeted at people who are either single, making 6 figures (IT, maybe healthcare). or the DINK crowd. What they dont realize is that those same types of people wouldn't give worcester a second look when places like *insert any town inside of 495* exist and the rent is probably comparable.
my uneducated opinion anyway...
operator_1337 t1_jdeocae wrote
It is exactly for that.
I guess everyone is forgetting that the bulk of "critical infrastructure" jobs all make under 70k a year(not counting overtime and such). Force them all to move elsewhere causes shortages in critical positions. The biggest recent example is snow plow drivers, that's only going to get worse and worse every season. We will see shortages across the board soon and already are. I mean a Worcester firefighter or police officer couldnt even afford to live there.
Lolsmileyface13 t1_jdff8y3 wrote
it's pretty much this. I'm at another similar place in the region and for me it is worth the peace/quiet and nice apt (can never hear neighbors, very calm area) to pay a premium for my 1 bed + den after coming home from the hospital. Many of the people I see in the complex are either other healthcare workers like me or retired. It is definitely a temporary place though, no one would ever stay in a place like this - at least not a young person.
AceOfTheSwords t1_jdgufma wrote
Are they actually out of overpriced downtown apartment units? Because most of those seem like they'd be more appealing to that audience than this, if a closer town to Boston isn't available.
dupattaluella t1_jdicy94 wrote
And let's not forget that many IT related jobs, coding jobs, data analyst jobs, etc have become remote. More people can move wherever they want now. And I don't see someone who has that flexibility choosing Worcester.
CoolAbdul t1_jdenc4h wrote
Pharmacy students
delaneydeer t1_jdhcqmf wrote
also medical students, wealthy college students, early career pharmacists/physicians
CoolAbdul t1_jdhw20z wrote
Yup. Anyone with wealthy parents who is in Worcester for school.
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