posted by Ironman92

Here in poor Ohio low wages weee $7.75ish-$8.50 ish about 5 years ago…now it’s $11.50-$13.50 for those same jobs

Rent for 2-3 bedroom 1-2 bath was $650-$750 4-5 years ago, now it’s $1050-$1150

Everything has sky rocketed. Just haunting the rent doesn’t mean groceries and everything else doesn’t go up to pay for the $11.50-$13.50 moving up to $16-$17

As a teacher my raises and increases haven’t remotely kept close to keeping up with the sky rocketing.

I don’t have any answers but those are the numbers here in southern Ohio.

Yeah, I'm not disagreeing. I used to be very much against messing around with the minimum wage. But the gas and oil surge in Ohio happened and then Covid happened. Those two things have irrevocably changed the cost of living. Covid in particular because the supply chain still hasn't completely recovered itself. But even if it did we all know that once prices are allowed to go up and get settled in they will never go back down to where they used to be.

Also when the Rust Belt had its main economy ripped from beneath its feet, people had to settle for waiting tables, checkout clerks, flipping burgers and dressing mannequins. This is a problem because the left won't let industry make a comeback because of climate change and the right doesn't want to make new requirements to make industry more climate friendly because of the upfront costs. The left doesn't want to give tax breaks to any industry for help companies offset the startup costs and the right mucks things up by settling on giving tax breaks to the soft hands industries instead. So the here we are.

The real minimum wage is zero.

companies still seem to be raking in billions while claiming "inflation" so idk if i totally buy all of the price hikes.  Rent is crazy in columbus right now, the house next to ours was being rented by a friend of ours the last few years and the owner raised the rent by 700$, so my friend bought a house and moved out.  The house has now been vacant for a year.  I know others paying over 1500 for 1 br, and 2300 for 2br in dublin and hilliard.  It does seem to be slowing the last couple of months tho.

posted by geeblock

companies still seem to be raking in billions while claiming "inflation" so idk if i totally buy all of the price hikes.  Rent is crazy in columbus right now, the house next to ours was being rented by a friend of ours the last few years and the owner raised the rent by 700$, so my friend bought a house and moved out.  The house has now been vacant for a year.  I know others paying over 1500 for 1 br, and 2300 for 2br in dublin and hilliard.  It does seem to be slowing the last couple of months tho.

I'm not saying $700 hike is valid.

I will say that the last 4 years my home owners insurance and property taxes have raised my escrow so much that my mortgage cost has gone up by 22% even with the obvious principle/interest total staying the exact same.

About $300 increase per month, so if the housing around you is worth 2x mine (probably realistic, mine is $165k) I can easily see the taxes/insurance going up $600 per month over the last 4 or so years. Property tax and home owner's insurance has gone up a crap ton in the last 4 years, mostly due to covid/inflation I'm sure.

All I got from my insurance company, whom I've had zero home owners claims in 16 years, is that "building material cost". I even tried to shop to other well known insurances and they couldn't do any better, so I'm not being gouged.

I can't speak for $700 increase, but if the taxes and insurance have gone up like mine I can see why the rent had to go up as well.

If I was renting my house out, 4 years ago I could have rented it for $1k and made $200 profit per month. Now I would be losing $100/month if I didn't change the rent. I would have to raise rent to nearly $1500 to make same percent profit, that's $500 increase in 4 years.

Now that I do the math, I understand $700 increase, as much as it sucks for the renters. Most land lords I know own just a couple (2 or 3) properties, they can't take a loss now just because life sucks for the renters too.

posted by jmog

I'm not saying $700 hike is valid.

I will say that the last 4 years my home owners insurance and property taxes have raised my escrow so much that my mortgage cost has gone up by 22% even with the obvious principle/interest total staying the exact same.

About $300 increase per month, so if the housing around you is worth 2x mine (probably realistic, mine is $165k) I can easily see the taxes/insurance going up $600 per month over the last 4 or so years. Property tax and home owner's insurance has gone up a crap ton in the last 4 years, mostly due to covid/inflation I'm sure.

All I got from my insurance company, whom I've had zero home owners claims in 16 years, is that "building material cost". I even tried to shop to other well known insurances and they couldn't do any better, so I'm not being gouged.

I can't speak for $700 increase, but if the taxes and insurance have gone up like mine I can see why the rent had to go up as well.

If I was renting my house out, 4 years ago I could have rented it for $1k and made $200 profit per month. Now I would be losing $100/month if I didn't change the rent. I would have to raise rent to nearly $1500 to make same percent profit, that's $500 increase in 4 years.

Now that I do the math, I understand $700 increase, as much as it sucks for the renters. Most land lords I know own just a couple (2 or 3) properties, they can't take a loss now just because life sucks for the renters too.

 

she actually messaged him and was like hey im willing to pay 300 more but 700 is not tenable.  that would have put her rent over 2400$.  These are 3 story "condos" that are worth 300,000ish.  she ended up buy a condo in another neighborhood for 330,000 and is paying less than the rent is there so im happy for her.  As for the homeowner, I wonder everyday if he regrets that because it has been empty for a little over a year now.

posted by queencitybuckeye

The real minimum wage is zero.

100% correct in the technicals!

posted by geeblock

she actually messaged him and was like hey im willing to pay 300 more but 700 is not tenable.  that would have put her rent over 2400$.  These are 3 story "condos" that are worth 300,000ish.  she ended up buy a condo in another neighborhood for 330,000 and is paying less than the rent is there so im happy for her.  As for the homeowner, I wonder everyday if he regrets that because it has been empty for a little over a year now.

Let's say his mortgage now with escrow is $2500, same situation as my hypothetical earlier, he would be losing $100/month. However, he is currently losing $2500/month.

At some point, if a house won't rent for what you need, as long as you have equity it has to be better to sell it and take the equity.

But what do I know, I own zero rentals, just have a few co-workers who have 2 or 3.

Yeah the house prices are insane.

The crappy, needed great attention nothing houses around here that people would buy crazy cheap, fix up inside and sell for a nice profit. Those  bad homes were $35,000-$50,000….now these same places, really not livable without great work are $80,000

The traditional 4 BR, 2 bath houses, small yard and 1 car garage (hundreds of those around here) were all $109,000-$179,000 depending on how nice…..4-5 years later you couldn’t touch those 109’s for less than 199 and that same range now is much more like $229-$289

The $240,000-$275,000 houses are now $379,000-$479,000

The $400,000+ houses are all $650,000+

Building prices are outrageous…$200,000 per 1000 Square foot I believe I was told

My friend from HS her husband sells real estate in California…lol. He’s trying to sell those 4 bedroom 2 bath houses for $850,000

Fortunately mine will be paid for in 3.5-4 years

Housing costs, this is my favorite current topic to bitch about.

Check out the Denver burbs. It’s disgusting. It’s always been high, but now downright absurd, especially considering the interest rates. Just gotta stack and wait it out. Rate drops are coming. 

posted by Automatik

Housing costs, this is my favorite current topic to bitch about.

Check out the Denver burbs. It’s disgusting. It’s always been high, but now downright absurd, especially considering the interest rates. Just gotta stack and wait it out. Rate drops are coming. 

A few of my buddies in the business were expecting things to fall out by 2023-2024….doesn’t seem anytime soon. Everyone seems to be flowing in money, or insane debt

posted by jmog

Let's say his mortgage now with escrow is $2500, same situation as my hypothetical earlier, he would be losing $100/month. However, he is currently losing $2500/month.

At some point, if a house won't rent for what you need, as long as you have equity it has to be better to sell it and take the equity.

But what do I know, I own zero rentals, just have a few co-workers who have 2 or 3.

My guess is his mortgage is 200,000 or less with a 300 hoa fee. I think he looked at what other new build apartments were getting in the area and  got greedy, but I don’t personally know him I’ve only seen him twice in 8 years 

Round of applause to jmog and geeblock to actually converse about something rather than the constant needling and bickering that we usually see from them. Everybody was sick of that shit!

Let’s not get too serious about this but I lol’d 

https://x.com/highbrow_nobrow/status/1813013986465427501?s=46&t=xrxfs6mLIefacKYITrkV2A

posted by Ironman92

A few of my buddies in the business were expecting things to fall out by 2023-2024….doesn’t seem anytime soon. Everyone seems to be flowing in money, or insane debt

.25% drop in Septemberish w/ 2 more by Q1-Q2 of 2025. Maybe down to 5.8%. I'll take that.

Of course the sources could all just be clickbait bullshit, but you gotta think a drop is coming. I'm aiming to get SOMETHING by late spring next year. If not, I may just fuck off to Mexico again.

Of course Biden has Covid 🙄

posted by friendfromlowry

Of course Biden has Covid 🙄

I was in Athens for my foot Dr appt and wasn’t sure where to park at this facility and as I drive around back there was a Covid testing section/wing and parking spots.

Inside Athens and .2 miles out of Athens is night and day

posted by friendfromlowry

Of course Biden has Covid 🙄

Didn't he just test negative for that two weeks ago?

posted by friendfromlowry

Of course Biden has Covid 🙄

posted by friendfromlowry

Of course Biden has Covid 🙄

Have to have some excuse for the debate.

posted by friendfromlowry

Of course Biden has Covid 🙄

God wanted him to survive he’s a hero! 

How involved can a president be with this? Any?

posted by geeblock

God wanted him to survive he’s a hero! 

I laughed

posted by geeblock

God wanted him to survive he’s a hero! 

Lol I know you were joking. But boy do I have a clip for you!

https://x.com/nickfondacaro/status/1813710312366854432?s=46&t=6w2XbPMrNrOkLnwSSn4TOQ

Oh ffslol

posted by jmog

Have to have some excuse for the debate.

If they waited this long after the debate to use the 'rona as an excuse, well, that reaction was so delayed that I could believe it was Joe himself that came up with the plan.