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Rent Control/Prices


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New Report Claims Blackstone Group is Buying San Diego's Affordable Housing, Hiking Up Rent Prices

Blackstone purchased thousands of San Diego's affordable housing units in 2021, then raised rent for some units between 43-64% in just two years, the report says

https://www.nbcsandiego.com/news/local/new-report-claims-blackstone-group-is-buying-san-diegos-affordable-housing-hiking-up-rent-prices/3195265/?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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YOU LOVE TO SEE IT: Rent Control Lives (For Now)

Good things are happening! The Supreme Court won’t listen to landlords, California incorporates labor rights into their curriculum, touring musicians get a big break, and consumer protection regulators get some much-needed help.

https://www.levernews.com/you-love-to-see-it-rent-control-lives-for-now/

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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A record number of Americans can’t afford their rent. Lawmakers are scrambling to help

DENVER (AP) — Single mom Caitlyn Colbert watched as rent for her two-bedroom apartment doubled, then tripled and then quadrupled over a decade in Denver — from $750 to $3,374 last year.

https://apnews.com/article/affordable-housing-rent-eviction-price-harvard-congress-f5411012e10fa78d0257c137e60c1be3?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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A loophole got him a free New York hotel stay for five years. Then he claimed to own the building

NEW YORK (AP) — For five years, a New York City man managed to live rent-free in a landmark Manhattan hotel by exploiting an obscure local housing law.

https://apnews.com/article/new-yorker-hotel-fraud-free-room-loophole-6505cb6df084002401aab9f6eaecf452?

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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Softer rents for the rich
 
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Data: CoStar; Note: CoStar rates multi-family buildings on architectural design, structure, amenities, site and certifications; Chart: Alice Feng/Axios

Texas renters with the deepest pockets are more likely than others to score a deal.

Why it matters: A flood of new construction is pushing down U.S. rents at the high end, where there are often more apartments than renters who want them.

Zoom in: That's the case in Dallas, Austin and San Antonio, according to real estate firm CoStar Group, which rates buildings based on design, amenities, location and certifications.

  • Rent for middle-tier apartments in Houston and nationally was ticking up at the end of 2023.

State of play: While the country needs more housing, most new apartments are loaded with amenities in prime locations.

Be smart: U.S. rents generally are still above pre-pandemic levels, analysts say.

  • Prices you see in the headlines are asking rents, meaning new leases only.

What's next: It could be a few years before there's enough demand to soak up the excess supply that's overwhelming some metros such as Austin, says Jay Lybik, CoStar's national director of multifamily analytics.

What they're saying: "We've got to get these buildings finished, and start filling them, without having more come online," Lybik tells Axios.

  • The pipeline for new projects is already slowing as developers find it harder to get financing, he says.

The intrigue: It's not just rent deals. Another way to help fill fresh apartments is to hire an influencer.

  • Dallas-based content creator Kenzie Elizabeth recently promoted a local high-rise, and some off-campus apartments near UT-Austin use student ambassadors.

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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🏗️ Postcard from Austin
 
A photo showing two cranes in front of an apartment building that’s under construction next to a taller apartment building that is complete. The sky looks clear and tops of trees are visible in the foreground.
 

The Waterloo (right), a highrise apartment complex across from the Sheraton on 11th Street, shown in this photo from 2022. Photo by George Rose/Getty Images

 

Those Austin rent cuts are no joke.

  • Here's how the metro's major surplus of apartments helped me lock down a lower monthly rate.

Why it matters: Rents usually don't come down for those who aren't moving, Axios' Emily Peck reports.

The big picture: When my agreement came up for renewal last month, I was thrilled to see my rent didn't increase a dime.

  • Context: I live in a studio in Central East Austin near several new, amenity-packed buildings. (Mine was built in 2013.)

Two years ago, my rent for a different apartment in my complex went up a few hundred dollars.

What I did: I checked my building's website and saw another unit with the same specs listed for nearly $60 less per month, across 15 months.

  • The leasing office was quick to match that rate when I asked.

Zoom out: It's expensive for landlords to turn over an apartment — especially now when new tenants pay less than those who just moved out, according to Lybik, with CoStar.

  • I spotted swanky buildings in Dallas and San Antonio offering weeks of free rent.
  • A former colleague in Houston says her apartment complex offered to extend her lease for six months at no extra cost.

The bottom line: Experts tell me Austin is the poster child for over-building.

  • While that's driving down rent for new leases, current apartment residents might gain some bargaining power.

More negotiation tips

phkrause

By the decree enforcing the institution of the papacy in violation of the law of God, our nation will disconnect herself fully from righteousness. When Protestantism shall stretch her hand across the gulf to grasp the hand of the Roman power, when she shall reach over the abyss to clasp hands with spiritualism, when, under the influence of this threefold union, our country shall repudiate every principle of its Constitution as a Protestant and republican government, and shall make provision for the propagation of papal falsehoods and delusions, then we may know that the time has come for the marvelous working of Satan and that the end is near. {5T 451.1}
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