Rent wars: Casualty list grows

There are 5 comments on the The Seattle Times story from Jul 10, 2007, titled Rent wars: Casualty list grows. In it, The Seattle Times reports that:

“Plucking a few examples such as the ones you used makes this story a bit sensationalized, don't you think?”

Danny Westneat's columns via RSS A few weeks back I wrote of a concept that seemed dizzying to me: the 100 percent rent hike. via The Seattle Times

Join the discussion below, or Read more at The Seattle Times.

Darren

United States

#1 Jul 16, 2007
I do not know anybody that can afford a Condo,and people are running out of options. Maybe King County could raise the minmum wage to $25.00 per hour. This way the county could still keep running. Who is supposed to run the cities when everybody is forced to move. These are working people. Their only crime is not having a million dollars cash.

“Cristianity is not the answer”

Since: Mar 07

Seattle, WA

#2 Jul 16, 2007
Darren wrote:
I do not know anybody that can afford a Condo,and people are running out of options. Maybe King County could raise the minmum wage to $25.00 per hour. This way the county could still keep running. Who is supposed to run the cities when everybody is forced to move. These are working people. Their only crime is not having a million dollars cash.
If the minimum wage was hiked up so people could afford to live in the city, the value of the dollar would just plummet.
The only true way to force the cost of living within the city down is to convince the big companies to stop offereing such high wages, primarily to its elite white collars (CEO, CFO, VP, etc.) As long as they are making 400 times what their average employee makes, then there is no way that prime housing rates wont go up, which through the downhill rolling effects of capitalism, cause all housing prices to increase, which in turn cause local cost of living increases.
Eventually our current system of uncontrolled capitalism will collapse in on itself, like it did during the great depression. When that occurs the white collar, no true work skill workers are going to be in the worst of it.
And the government stepping in to socialize everything isn't helping...
Sam

United States

#3 Jul 17, 2007
Sometimes it pays to be an old man. In the 1970's if you made $10.00 per hour , you could easily buy a new car and a new house. New car $4000.00 - new house $20,000.00 or close. Now I notice that all the young people I talk to say that owning a home is out of the question. These are people who hold Masters Degrees or more. They make so much more than our generation, but they get so much less. A million dolars is nothing now. Its like have 20 or 30 thousand back in the 70's. Wages have not kept up with inflation. A million dollars does make you rich these days.

“Cristianity is not the answer”

Since: Mar 07

Seattle, WA

#4 Jul 17, 2007
Sam wrote:
Sometimes it pays to be an old man. In the 1970's if you made $10.00 per hour , you could easily buy a new car and a new house. New car $4000.00 - new house $20,000.00 or close. Now I notice that all the young people I talk to say that owning a home is out of the question. These are people who hold Masters Degrees or more. They make so much more than our generation, but they get so much less. A million dolars is nothing now. Its like have 20 or 30 thousand back in the 70's. Wages have not kept up with inflation. A million dollars does make you rich these days.
Oh but I disagree with this. Prices and wages have increased accordingly. The problem is what was considered a luxery back then is considered a necessity now (I am not too young myself).
Ask these families that say a house is out of the question what kind of car they drive. Ask them what kind of TV they have. Ask them about the many different toys and gadgets they have and have to pay monthly to use. Ask them what they do on their days off. Ask them who takes care of their house when something breaks or needs maintenance.

Most of the people I know that claim they cant afford to buy a house have more than 1 TV (and often at least one of these is huge compared to what we had), have more than just the basic cable service. Each family member has a cell phone. The family has more than one (working) vehicle, and usually a fairly new one. Doesn't do their own vehicle maintenance, or maintenance on other stuff htey own (if it breaks replace it or take it to a mechanic/service). Ask them about their computer and the service they have for that.

People can afford to buy a house now just like they could back then. Not necassarily in the location they want, but they may have to give up on there multitude of gadgets and toys and vehicles.
Whe I bought my first home I didnt have cable. I had a small TV which my children watched videos on. We had a radio and the newspaper to get our news and current events.
The phone, yeah you can still buy it for less than $15.(You dont NEED a cordless phone that will let you talk to you best friend from highschool ten states away while you are down the street at the corner store.)
Our vehicle? Old. Even now the newest vehicle I have ever owned is 5 years old (except for a motorcycle I bought new). I do my own oil changes and minor maintenance.

Its about people's priorities, not the wage.
Tony

Seattle, WA

#5 Jul 20, 2007
Sorry Rev _Dave, but you are wrong. Houses use to be so cheap that people just did not give it much thought.My brother bought his house n Medina in 1972 for 12,000.00. I paid 52,000.00
for my house, but it is supposed to be worth
1.5 million now. In the 1970's a $10.00 per hour job was easy to get with full medical benifits from the union. I paid one dollar for the doc and 2 dollars for the dentist. A $10.00 per job could buy you a new car and a new house with money to burn, and I also raised 3 kids. I have also talked to young peolple with degrees who say they may never own even a trailer house. A condo is out of the question. No hope at all. Thats why some homes now have 2 families living in them.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Renton Discussions

Title Updated Last By Comments
News NAACP Slams Tukwila School District On Minority... Apr 29 Oh No You Di-nt 1
Hey any girls wanna text me i need new texting ... (Nov '10) Apr 28 bubbles 71
News Couple shocked to learn they were babysitting a... Apr '15 truong 1
SeaTac Garage Door Repair (Oct '14) Feb '15 Jamestheduke21 2
looking for gay sex (Dec '12) Feb '15 theasianguy 40
Wendy Parker scammer Jan '15 your bartender 2
Good day Jan '15 Mr Williams 1
More from around the web

Renton People Search

Addresses and phone numbers for FREE

Personal Finance

Mortgages [ See current mortgage rates ]