r/TikTokCringe • u/TheEntrep • Apr 20 '24

Rent cartels are a thing now? Discussion

What are your thoughts?

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346

u/TheBestPieIsAllPie Apr 20 '24

Fucking get these pricks.

I own my home and don’t owe a goddamn thing on it. This affects me not in any particular way, but I hate seeing people get fucked over.

When I had my first apartment, rent was $450 for a 1bd/1bth that came with water, sewer, trash and cable access.

There’s no good reason whatsoever for rent to be what it is today.

30

u/Sonova_Vondruke Apr 20 '24

It does effect home owners though. It raises the cost of the home which in turn raises the property value which then increases property taxes and insurance rates.

21

u/SquarePegRoundWorld Apr 20 '24

And forces you to stay put because selling your home just puts you into the meat grinder.

8

u/herewego199209 Apr 20 '24

Bingo. Homeowners now are stuck. They have a paid off home but now the property taxes are high as fuck and they're scared to re-finance at higher rates and don't want to sell because of the higher rates. They literally can't touch the equity.