Hacker News Reader

Hacker News

Comment by kahrl | Hacker News Reader

Parent Full thread

kahrl

Seriously. This is such nonsense. Housing prices have risen 19% year over year.

View on HN

My rent is down hundreds of dollars year over year as is it for most people I know.

What city?

San Francisco?

https://www.zumper.com/rent-research/san-francisco-ca

> My rent is down hundreds of dollars year over year as is it for most people I know.

What static US locations are "the people you know" living in?

OFC you can get cheaper rent moving to more remote and primitive housing, but that's a misrepresentation anyway.

From California, to Seattle, to the midwest, all rents have increased at least every other year. Your statement is literally unbelievable.

Mine in Seattle has not, even if I believe you in the general sense. I think my landlord valued having a renter with stable income from one of their former employers, so that might explain the lack of an increase.

And most people you know? It's exceedingly unusual for someone to drop rent. This is what rental/lease agreements stabilize. If you move or that there might be windfalls from some specific situations, is not the norm.

https://www.zumper.com/rent-research/seattle-wa

https://www.seattletimes.com/business/real-estate/in-seattle...

I just told my landlord I was going to move if they didn't drop rent by a few hundred and they did.

Single state but Florida rents are up 29% for the year.

Can you elaborate? Does this mean that your landlord reduces your rent each year?

It means that you can negotiate rent with your landlord or switch apartments, and all of those have gone down.

I know a lot of people who have recently switched apartments, and I personally negotiated it down.

"In my area of San Francisco"

But houses are capital goods that generally appreciate in value, for the purposes of calculating CPI, treating them like consumption goods or like other consumer durables (e.g. vehicles) that generally depreciate seems odd to me.

My housing costs went down about 15% from 2020-2021.

Mortgage payments for most people have stayed the same.

the purpose of CPI, at least in my mind, is to calculate the change in the price of goods from year to year. Making your monthly mortgage payment isn't the same thing as buying a new house, so the fact that the payment might stay the same over the life of the mortgage contract doesn't seem particularly relevant. What seems relevant is how much it would cost to buy the same house again today.

For instance, if we suppose for the sake of example that the average American buys a new TV every five years, it would be true to say that the cost of TV for most Americans didn't rise this year even if TV prices increased 15%. But saying that seems to provide zero insight about CPI.

> Making your monthly mortgage payment isn't the same thing as buying a new house, so the fact that the payment might stay the same over the life of the mortgage contract doesn't seem particularly relevant.

In a thread about inflation, it's highly relevant. One of the biggest benefits to a mortgage is that you lock yourself into an inflation-resistant housing cost.

Property taxes for most people have gone up.

Housing prices are affected by more factors than just inflation…

Reply on news.ycombinator.com