Comment by flag_fagger
Comment by flag_fagger a day ago
I’m really curious about the 08 recession. I definitely remember some of the fallout, but I was young and insulated from much of what it meant. My parents were also lucky enough to be employed with a mortgage.
The one thing killing me in the economy is housing. Rent is up like crazy, but even more so rental criteria is ridiculous and competition is insane.
And this is in a dilapidated rust belt city with maybe one industry propping up the entire economy. It’s a bit cheaper than when I was in Florida a few years back, but not by a ton.
If I could figure out housing, all other problems would solve themselves, but it’s the one problem I can’t solve. My credit score took a battering during a long period of unemployment, and now I’m about as much of a pariah as a three time felon with two evictions, and I don’t even have an eviction.
But how was in after the 2008 crisis. How hard was it to find rent them. If you had a job, and income were the rents still ridiculous? Or was it easy enough to find a place if you had money?
> Rent is up like crazy, but even more so rental criteria is ridiculous and competition is insane.
Yes. People with solid jobs and money in the bank - people who've lived responsibly by saving before buying, almost no one will rent to them because of a zero credit score.
And we know a bit about competition too. We got our current rental in 2021. It was a FB ad, with a crayon drawing of the layout. It was up for less than 2hrs and had 50 applicants. We got it by offering 6 mos in advance + heavy security deposit.