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Reply to "When did apartment prices increase so dramatically? "
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[quote=Anonymous]Things that have changed since the days when most of us got our first apartments: 1. AirBnB - lower priced apartments have been snatched up by investors who make more from short-term rentals than long-term ones. 2. Private equity also bought up millions of apartments, including 10% of the total U.S. apartment stock. Of course, these investments aren't evenly distributed; they now own 25% of the apartments in cities like Atlanta. 3. Foreign investors -- roughly half of them paying in cash-- have also bought a significant portion of our housing stock. In 2017 alone, foreign investors spent $153 billion on U.S. real estate. Last year it was "just" $56 billion, but year over year, these investments add up. So, sure, young people can get roommates, as we did. Even then, it's a totally different real estate landscape than it was "back in the day" -- and it is much, much harder for young adults. [/quote]
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