Apartment rent prices approach negative territory

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CNBC's Diana Olick joins 'Squawk on the Street' to discuss the state of apartment occupancies, ongoing declines in the apartment rental space, and new units being introduced into the rental supply. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Опубликовано:

7 сен 2023

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Комментарии : 51

@macro1391 9 месяцев назад

Landlords were jacking up rents based on what some RE software program told them, rather than reality. So it is not surprising that they have to retreat. The algo probably cost them money from losing multi-year tenants and having to pay for refreshing the unit and losing a months rent re-renting.

@DontAtMe2k24 9 месяцев назад

We can put up apartments overnight but we can’t build homes for first time home owners.

@weirdshibainu 9 месяцев назад

We can't do either. Also, many home builders are now building new home strictly for rent-not for sale.

@michaelbush1374 9 месяцев назад

I'm getting sick of new construction neighborhoods being 350,000 dollars as a starting price and exclusively hoa.

@MyLifeTheStruggle1 8 месяцев назад

Own nothing and be happy

@Corina-dq2my 2 месяца назад

Because many people can't afford to buy a home in many parts of this country. A million dollars.

@LM33333 8 месяцев назад

Huh? This report makes no sense. Are you seeing what America is seeing?..

@GodbreadGilfredBiago 4 месяца назад

there is a lag

@user-fo2xj7wi4q 4 месяца назад

I just read something saying experts suggest paying 30% of your income towards rent. The most I've ever made is 2k a month. I have 4 kids and myself. I have to rent a 3-bedroom for 5 people. When I look for apartments I'm seeing a lot of 1 bedroom apartments going for anywhere between 1k - $1200 a month. 2-bedrooms are going for between $1600- over 2k. Now I know why there is such a huge f - n homeless problem in the Seattle area.

@asolano 9 месяцев назад

These two need a math refresher. Rent growth, not rents, is what's close to going negative. Negative rents would mean tenants get paid to occupy an apartment.

@free-qe6wx 9 месяцев назад

The professor says you and your charts are lying. A friend of his told him that rent prices went negative 18 months ago.

@JoeOutdoors 4 месяца назад

If they are going negative why is mine going up?

@Corina-dq2my 2 месяца назад

In Southern Oregon it's insane. The minimum wage base cannot compete with lower costs of rent. It's 1500 a month for a small two bdrm and well over a thousand for one bdrm. People don't make enough to afford it. At least a very large percentage of people. There's a huge gap between what a lot of working class people make and the cost of housing.

@buildingbuildercip8292 6 месяцев назад

They’re cooling off but they’re still rising. These new apartments only help us Landlords out. Because these “Luxury Apartments” are so overpriced that it allows us to bring our rents up substantially whenever these “Luxury Apartments get built in our neighborhoods. She also stated how builders have slowed down, which will only sustain higher rents. Not too many people can afford to live in those new buildings. People have no idea what they’re talking about.

@nativestrong7253 2 месяца назад

Increase the price by 40% and offer a 10% discount. Where have we seen this move before?

@deoglemnaco7025 4 месяца назад

I am new to east coast and new to America. So what is usual amount of tip for landlord? My Rent is 2300 dollars but some say there is no tip But we tip everywhere is America so what is customary tip for landlord? I think it is 10 percent

@dons3073 9 месяцев назад

Is that right are you done

@gozimusable1 4 месяца назад

I feel like im the movie 1984. Nothings going down.

@JoeOutdoors 4 месяца назад

Rumor has it the my apartment complex is raising the rent of a 900 sq ft 2 bedroom from $793 to $853. Did their own snow removal this year. Spreading a pallet of salt was their idea of clearing the sidewalk and steps. Any idea what salt does to snow when the temperature is 10? Price goes up, people leave. To get tenants, they allow dogs. Place looks and smells like a kennel now. And no, I am not renewing my lease.

@JoeOutdoors 4 месяца назад

ggggg

@GodbreadGilfredBiago 4 месяца назад

dude you're one of the lucky ones. Rent is significantly higher almost everywhere else.

@JoeOutdoors 4 месяца назад

@@GodbreadGilfredBiago 12 years ago it was $420. Nobody can justify a 100% increase in rent. And if you have seen the lack of upkeep, not to mention turning the place into a kennel for the $$$$$$$

@Corina-dq2my 2 месяца назад

@@GodbreadGilfredBiago It's 1400 a month here in Medford Oregon. Or higher Min. Wage is 14.20/hr.

@dolphin1346 Месяц назад

One bedroom one bathroom on the third floor in Coconut Creek In 2020 was $1,460. 2021, 2022, 2023, 2024 the rent is now $2,100

@DaBigBoo_ 18 часов назад

that level of inflation cant last another decade

@dons3073 9 месяцев назад

Higher end what

@aaaaaaaaaaaaa373 8 дней назад

rent price ~growth~ is going negative. rent going negative would imply that there are enough subsidies for landlords to pay people to live there

@PatamaGomutbutra 8 месяцев назад

Then increase more townhome building and single home

@Jenger420 7 месяцев назад

They've been building a ton of townhouses and condos in my area. They start in the 700s

@dons3073 9 месяцев назад

Apartment rentals should be 3 hundred a month haha

@stvlu733 6 месяцев назад

40 years ago...

@capitalismisdivisionofevil8322 9 месяцев назад

1. We need livable wages of $33/Hour AND up as the foundation of dignity. This must rise by 3% faster than inflation! 2. We need affordable housing of $450/Month for single apartments of no less than 800 SQ FT to live in dignity ( fixed rate for life) 3. We need affordable raw land of $500 to $3,000/Acre ( 1 to 20 acre lots with no HOAs or restrictions ) accessible to the poor to buy! We need affordable tiny structurally durable homes that can be built under $50,000 without bank loans and thier debt traps! NO property taxes 🏗🏘🏗

@SinkLikeStone 8 месяцев назад

Calling China now….

@LM33333 8 месяцев назад

Keep dreaming. We need livable wages and affordable apartments, but that’s a bit of a stretch in your numbers.

@capitalismisdivisionofevil8322 8 месяцев назад

@@LM33333 Then 90% of society will end up homeless like the 1920s and chaos will ensue.

@buildingbuildercip8292 6 месяцев назад

😂😂😂😂…Good luck w that!

@LM33333 6 месяцев назад

@@capitalismisdivisionofevil8322 Again 90% is another stretch. You need to be more reasonable. You are only thinking of yourself. On the other side of that is the person or company you pay. How can they pay their bills with what you pay them. They have mortgages and loans that made it possible for you to have something to buy. Economy is not linear. It’s circular. You can’t do one thing one one side without it affecting the other. It needs to be reasonable on all sides. You clearly want everything for barely anything. Not fair either.

@dons3073 9 месяцев назад

Babble

@NicholasNerios 9 месяцев назад

Yeah me apartment's, less private homes. People don't need all that wasted extra space. If we could ask just live in skyrise apartments that would give me to nature, adhd farming. Kidding, or am i.

@JoeOutdoors 4 месяца назад

What happened to my first comment? Too much truth?

@BirdManUnlimitedLove Месяц назад

This was proven wrong

@dons3073 9 месяцев назад

Funny looking aren’t cha

@drewwcreww4735 4 месяца назад

lol

@durfeecoach1 2 месяца назад

Lol this report is just like the reason Biden will lose. They have no clue. Sure highend might drop a percent but basic apartments are crazy expensive. Now we have to expect rent will be alteast half of take home and leave nothing to save for anything else less a down-payment on a home.