May 12, 2008 at 6:44 am
#624385
Alki
Participant
Well, I own a rental and I can speak from the OTHER side. The housing prices are so high that just to meet our mortgage payment, we have to charge $1000 per month. And renters are willing to pay it because it’s a great place. So, it doesn’t stop with us, it goes back to housing prices. Housing prices drive up rentals, too, especially in desirable areas like West Seattle. There are a lot of factors when you look at it. Supplies, shopping for new fixtuers, etc is all more expensive. So, all around, it costs us a lot more now than it would have if we had owned a rental back then.