Tag: rent

Impact Lab > rent
Coronavirus, Economy, Employment, Science & Technology News, Trending

San Francisco rents plunge as tech employees abandon high-priced city to work remotely

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Twitter, Facebook among companies that will allow employees to work remotely moving forward

 Coronavirus causes ‘big movement’ out of New York City: Moving company president

Roadway Moving President Ross Sapir says more people are leaving New York City for nearby states or southern states, like Florida and Texas.

Coronavirus-related work-from-home policies at the country’s biggest technology companies appear to have caused an exodus from Silicon Valley, which has sent rent prices in San Francisco plummeting.

Rents for a one-bedroom apartment in the major metro area were down 9.2 percent in June when compared with the same period last year, according to data from rental site Zumper. That is the largest decline since at least 2015 and brings the price point ($3,360) down to where it was three years ago.

In the U.S. overall, one-bedroom rents fell by just 0.2 percent. No other major metro city’s data came close to the decrease in San Francisco.

Continue reading… “San Francisco rents plunge as tech employees abandon high-priced city to work remotely”

Big Problems, Breakthrough Thinking, Housing, Science & Technology News

This startup wants to put a free tiny house in your backyard

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Rent the Backyard will get a tiny house into your backyard in a matter of weeks—and hopes it can add some cheaper apartments in cities to help alleviate the housing crisis.

In cities with housing shortages, little room to build, and opposition to new construction, building small cottages in backyards can be one way to add new apartments quickly. One new startup wants to help it happen even faster: The company handles the cost and construction process for homeowners in exchange for a cut of the rent when a tenant moves in.

“Right now, to build an accessory dwelling unit is a huge process,” says Spencer Burleigh, cofounder of Rent the Backyard, a Bay Area-based startup in the current cohort at the tech accelerator Y Combinator. “You have to talk with the city and deal with the permits. And even if you can find a great builder that is able to do a lot of those steps for you, you’re still fronting a whole lot of money.”

Continue reading… “This startup wants to put a free tiny house in your backyard”

Analysis, Business, Economy, Latest Trend

Is it better to rent or buy a home? Comparing the monthly costs

rent vs buy

Renting vs. owning

Ever since the financial crisis left many Americans in dire financial straits, the debate over renting versus buying a home has heated up. American households’ spending on housing is on average 33% of their annual expenses, but until recently we didn’t have data to show the differences in costs between monthly mortgage payments versus rent.

 

 

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Analysis, Architecture, Business, Latest Trend

Why rent is so expensive in cities: Parking spaces

underground parking

Underground parking is extremely expensive to build.

Many factors contribute to drive up the price of rents, but parking is among the most significant, according to University of California Los Angeles professor and renowned parking guru Donald Shoup. During the CityLab 2014 conference in Los Angeles last week BuzzFeed News sat down with Shoup to talk about how parking makes housing more expensive. His point: “It’s unfair to have cities where parking is free for cars and housing is expensive for people.”

 

 

Continue reading… “Why rent is so expensive in cities: Parking spaces”

Analysis, Latest Trend, Report

What you need to earn in every county in the U.S. to afford a decent one-bedroom apartment

san francisco

San Francisco is in the top 10 of most expensive counties.

A report from the National Low Income Housing Coalition shows how much a worker would have to earn to afford what the Department of Housing and Urban Development considers “fair market rent” in local communities across the country. The government sets these housing rates, which include rent plus utilities, based on the local market for decent-quality apartments of different sizes — neither dumps nor luxury flats. These are also the rates that HUD uses to establish local housing subsidies.

 

 

Continue reading… “What you need to earn in every county in the U.S. to afford a decent one-bedroom apartment”

Analysis, Business, Economy, Latest Trend

More Americans renting homes since financial crisis

foreclosure

There will be more repossessions next year and tougher criteria banks are now imposing on potential borrowers.

The development of multi-family units – a category made up of apartments and townhouses – jumped 25.3 percent last month to an annual rate of 238,000, the Commerce Department said on Tuesday. That helped drive overall construction on new homes up 9.3 percent to an annual pace of 685,000, the strongest since the spring of 2010.

Economy, Latest Trend

Owning a Home in the U.S. Loses It’s Luster

For-Rent

Economic uncertainty, unstable prices and simple math have given Americans less incentive to buy.

Meredith Carr and Vince Melamed of Brentwood are just the sort of couple real estate agents have always counted on to buy a home.  Melamed is a successful keyboardist and songwriter who wrote hits including Trisha Yearwood’s “Walkaway Joe,” and Carr is a freelance editor. They owned a home in Nashville, but when they moved to Los Angeles last year they decided they did not want to tie up their money in real estate, or be on the hook for home repairs and upkeep.

 

Continue reading… “Owning a Home in the U.S. Loses It’s Luster”

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