rent rates these days

[MonkeyMama]

Most of the people that I assume are doing the interest only thing in the Bay actually intend to only own a couple of years and then move. I Am not sure what their plan is if the market crashes or if they have even considered that possibility. IT is kind of like the dot com era in the bay - people are making tons of equity by doin the ARM thing, and so they are taking a big gamble.

My SIL made 300k off her condo, which they paid little on, and now they have an 800k fixxer upper that they intend to only own a couple of years. I have no idea if they have a backup plan if things go bad, we really worry about them. In their eyes they have no other option, and it has fared them well thus far. But we all really worry about them - no one else in our family was willing to take such financial risk. In the end they may be millionaires before they are 30 - who knows - and thinking all of us careful were suckers - hehe. A gamble for sure.

In the city I live in now - yeah people use interest loans to buy what they can not afford. After coming from such an expensive area it amazes me how entitled people feel around here. If they need an interest only to afford that mansion they want - they will do it. I don't know how many 20-year-olds I See who feel entitled to a mansion and have no concept of waiting to affrord to make big purchases - it's sad.

[Ima saver]

I wonder how much a new mobile home is selling for? There are a lot of older mobile homes for rent around here.

[amberbamber]

When my husband and I were in college, we rented a one bedroom apt for 560 a month. That was in 2000. Now we will be renting a 2700 sq ft house for 800 a month. Plus a yard with 2+ acres. Good deal if you ask me

[Bookie]

Originally Posted by Ima saver

I wonder how much a new mobile home is selling for? There are a lot of older mobile homes for rent around here.

A couple I know bought a very nice moble home about two years ago for $35,000. They owned a homesite and seem pleased with the arrangement.

[abowers]

In upstate NY 2 years ago, I was paying $200 as one of 3 people in a 3 BR apartment, no utilities included.

We moved to central NJ last year, in grad student apartments, subsidized by the university, we were paying $829 for a 1 BR including everything but electricity, just renovated.

This year we are still in grad student apartments subsidized by the university, this one's older but has an extra 170 sq feet, and we are paying $758 for a 2BR, only incl. hot water.