In response to Ms. Lorrie Streifel’s question, “Is this the effect of capitalism?” many of us are aware that because of rampant, continuing inflation, an average citizen has lost about 7.4% in purchasing power in the last two years. (The “hidden tax.” Think of that.)
As costs for landlords go up, as most costs have and continue to do (some dramatically), the need for higher rentals usually goes with it.
Congratulations to any landlord who graciously holds the line, but I suspect most cannot afford to do so for long and still provide the housing.
— Michael Childs Charlotte
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15 thoughts on “Letter: Costs have gone up for landlords, too”
Grant Millin
The answer isn’t throwing up hands, saying “It’s complicated”, and producing more homeless and more housing market dysfunction.
Spurious argument. The mortgage payment for the landlord (if any) is a fixed cost except for the very small percentage that represents property taxes and insurance. Rental increases began prior to high inflation and still vastly outpace it. Supply/demand is the primary driver of this market increase, not inflation.
Michael Childs
Ol’ Mike, when we had a two-unit place to rent, costs for minor and major repairs, minimum maintenance, insurance, materials and TV/WIFI went up continually. At our current apartment home, the landlords deal with increased costs of employees, insurance, pool maintenance, landscaping, replacement items (carpet, plumbing, siding, shingles, etc.), paving, cleaning stairs and landings, pest killing…whoo, it goes on and on. Inflation reigns, as seldom before!
Mike
First I’d appreciate it if you refrained from the ol’ name calling.
Secondly did inflation hit 25% and I missed it? Because that’s how much rent n this area went up last year when inflation was peaking.
I’m not saying inflation is a non-factor, it certainly is. But supply/demand is the primary driver.
Michael Childs
Sure. An inflation rate flaming like this one for two years ain’t hay, and it is a genuine factor. That was my point, and we agree on it, which means it is not a spurious argument, and you may want to re-do your original letter (I just re-read it) which dismissed the many costs affected by soaring inflation.
Mike
Not me different Mike I’m just a responder
Mike
Not me different Mike I’m just a responder unless you mean my original comment- no letter. If so, I agree that inflation is a factor just absolutely not the primary one which is what your letter presents. Thanks.
Michael Childs
Mike, I said that, because of inflation, most people can’t afford to hold the line, and that is true. In your original letter, you said that was a spurious argument, which we agree it is not, and you dismissed rising costs as a factor in rising rentals, which is not true. Out.
Robert
Some (but not all) reasons for higher rental prices:
–Increased tourism has led to more short-term rentals and fewer long-term options.
–More transplants from more wealthy areas have scooped up ‘affordable’ 2nd and 3rd homes that were formerly ‘affordable’ rentals. (Many lured here by the incessant advertising by the BCTDA)
–More corporate landlords in our area than before.
–Some longtime local landlords ride the wave, go along with the masses and raise prices by as much as the market will allow. (Just last week, a young person told me his rent had gone up by 30%, and now this essential worker must move.)
–Inflation (in some cases). It is more costly to do repairs and find great craftspeople to do them.
Just the facts…
Grant Millin
Blue collar people like home repair folks can’t afford Asheville. Just falling for the idea that there is no alternative isn’t good enough. Becoming a Wellbeing Economy like Denmark is at least a long-term vision.
clayton moore
Good to see Grant is still in bizness….did he ever tame the mufferless Harleys on the Bloo Ridge Parkway?
WNC
Anyone who wants to purchase property at market value and rent for below market value is welcome to do so.
I would expect your tenure as a landlord to be short.
Shultz!
Landlordism of single family homes is just plain wrong & should be banned.
1
Prospect Joe
I hope you’re joking. This is a joke right?
1
Reeb Cham
How much does the Fred Seely Overlook Castle on Town Mountian Rd rent for for special events?
It would be a great site for a movie.
Is the place haunted?
The answer isn’t throwing up hands, saying “It’s complicated”, and producing more homeless and more housing market dysfunction.
https://www.spur.org/news/2022-08-31/housing-for-everyone-the-danish-way
Spurious argument. The mortgage payment for the landlord (if any) is a fixed cost except for the very small percentage that represents property taxes and insurance. Rental increases began prior to high inflation and still vastly outpace it. Supply/demand is the primary driver of this market increase, not inflation.
Ol’ Mike, when we had a two-unit place to rent, costs for minor and major repairs, minimum maintenance, insurance, materials and TV/WIFI went up continually. At our current apartment home, the landlords deal with increased costs of employees, insurance, pool maintenance, landscaping, replacement items (carpet, plumbing, siding, shingles, etc.), paving, cleaning stairs and landings, pest killing…whoo, it goes on and on. Inflation reigns, as seldom before!
First I’d appreciate it if you refrained from the ol’ name calling.
Secondly did inflation hit 25% and I missed it? Because that’s how much rent n this area went up last year when inflation was peaking.
https://www.citizen-times.com/story/news/local/2022/01/31/asheville-nc-rents-rise-most-expensive-city-live-north-carolina-apartment-list/9256946002/
I’m not saying inflation is a non-factor, it certainly is. But supply/demand is the primary driver.
Sure. An inflation rate flaming like this one for two years ain’t hay, and it is a genuine factor. That was my point, and we agree on it, which means it is not a spurious argument, and you may want to re-do your original letter (I just re-read it) which dismissed the many costs affected by soaring inflation.
Not me different Mike I’m just a responder
Not me different Mike I’m just a responder unless you mean my original comment- no letter. If so, I agree that inflation is a factor just absolutely not the primary one which is what your letter presents. Thanks.
Mike, I said that, because of inflation, most people can’t afford to hold the line, and that is true. In your original letter, you said that was a spurious argument, which we agree it is not, and you dismissed rising costs as a factor in rising rentals, which is not true. Out.
Some (but not all) reasons for higher rental prices:
–Increased tourism has led to more short-term rentals and fewer long-term options.
–More transplants from more wealthy areas have scooped up ‘affordable’ 2nd and 3rd homes that were formerly ‘affordable’ rentals. (Many lured here by the incessant advertising by the BCTDA)
–More corporate landlords in our area than before.
–Some longtime local landlords ride the wave, go along with the masses and raise prices by as much as the market will allow. (Just last week, a young person told me his rent had gone up by 30%, and now this essential worker must move.)
–Inflation (in some cases). It is more costly to do repairs and find great craftspeople to do them.
Just the facts…
Blue collar people like home repair folks can’t afford Asheville. Just falling for the idea that there is no alternative isn’t good enough. Becoming a Wellbeing Economy like Denmark is at least a long-term vision.
Good to see Grant is still in bizness….did he ever tame the mufferless Harleys on the Bloo Ridge Parkway?
Anyone who wants to purchase property at market value and rent for below market value is welcome to do so.
I would expect your tenure as a landlord to be short.
Landlordism of single family homes is just plain wrong & should be banned.
I hope you’re joking. This is a joke right?
How much does the Fred Seely Overlook Castle on Town Mountian Rd rent for for special events?
It would be a great site for a movie.
Is the place haunted?