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To be blunt, Venture Capitalists --
Jan. 16th, 2012 09:52 amThis is not a good time for you to be buying up apartment complexes and dumping 1 million dollars per complex into them to "beautify them." Occupancy is already at 96% here -- in theory. I know my lovely complex is scrambling right now because a horde of people gave their 60 day notice when I did.
We gave notice because we can't afford to live here anymore. In my case, it's the apartment or the health insurance that has to go, so I am struggling to hang onto my insurance for a couple more months. We will be adding to the congestion on the highways, living further out in an attempt to live close to a market where there are jobs.
The jobs are not paying enough to cover the rent increases (the average rent increase in Austin in 2011 was 8.1 percent. I'm sure that fit in just fine with your 33% health insurance increase, 25% electricity increase, and proportionate water & trash pickup increase. And no pay raise.)
Then there's the cost of gasoline. Enough said.
No wonder so many friends are taking in renters. Privacy may be a thing of the past for the blue and dwindling middle class.
This Maryland group will continue to buy up properties. Since desperate, hopeful people are moving here and can't get loans to buy houses, they'll keep taking the apartments. But those of us still recovering from whatever the recession dealt us are Not Amused.
We gave notice because we can't afford to live here anymore. In my case, it's the apartment or the health insurance that has to go, so I am struggling to hang onto my insurance for a couple more months. We will be adding to the congestion on the highways, living further out in an attempt to live close to a market where there are jobs.
The jobs are not paying enough to cover the rent increases (the average rent increase in Austin in 2011 was 8.1 percent. I'm sure that fit in just fine with your 33% health insurance increase, 25% electricity increase, and proportionate water & trash pickup increase. And no pay raise.)
Then there's the cost of gasoline. Enough said.
No wonder so many friends are taking in renters. Privacy may be a thing of the past for the blue and dwindling middle class.
This Maryland group will continue to buy up properties. Since desperate, hopeful people are moving here and can't get loans to buy houses, they'll keep taking the apartments. But those of us still recovering from whatever the recession dealt us are Not Amused.
