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How Bad Will Peak Be?
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<blockquote data-quote="El Morado Diablo" data-source="post: 5118781" data-attributes="member: 40760"><p>I live in an area where average home prices have gone above $500,000, rental vacancy rates are <1% and rents are $1300+ for 1bd apartments and we are a base level station. If your station has these conditions and you aren't a metro market you're screwed because there is no where you can move to save money and commute. </p><p></p><p>We used to look at the market levels for the closest metro markets and say, "Well, the extra money they get all goes to housing so I guess I understand" the difference in market levels. Now that those prices have come to us we are all hurting - whether it's higher property taxes, home ownership going out of reach or higher rents.</p></blockquote><p></p>
[QUOTE="El Morado Diablo, post: 5118781, member: 40760"] I live in an area where average home prices have gone above $500,000, rental vacancy rates are <1% and rents are $1300+ for 1bd apartments and we are a base level station. If your station has these conditions and you aren't a metro market you're screwed because there is no where you can move to save money and commute. We used to look at the market levels for the closest metro markets and say, "Well, the extra money they get all goes to housing so I guess I understand" the difference in market levels. Now that those prices have come to us we are all hurting - whether it's higher property taxes, home ownership going out of reach or higher rents. [/QUOTE]
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