ANSWERS: 5
  • I don't think a recession makes things good for anyone, but this could be a big problem. Taxes will go up and thus so will rent.
  • First of all, we are not officially in a recession, however it is my beleif it is around the corner. Should that be the case, it should not have any effect on renters / tenants at all. The lease agreement one signs is a legal document that states 'x' dollars will be paid each month for occupancy. To the contrary thought, I also feel that the usual annual increases in rent will decrease as owners of these properties will not want to risk having open spaces in which they dont have money coming in. Tough times for all of us, but let's hang in there and we will come back ok.
  • I can only tell you about our situation, Sak. Last year we moved because our rent had increased from $660/month..then to $810 a month..then when the lease was up they jacked it up to $1138/month for only 6 months. We got out of Dodge and moved to Hemet. We rent a two-bedroom, two-bath house. In our lease, the landlord (he lives in Arizona) put in the following: "The rent will never increase..the only increase will be any increase in Homeowner's Fees". This was his idea. We pay $795/month. Of that, the homeowner's fee is $65..it just had gone up last year. It goes up about $20 every 4 years! We lucked out big time! Happy Saturday! :) ((hugs))
  • Indeed. Recession hurts the nation as a whole, stronger at some levels than others but it still hurts :)
  • Technically it's not a recession. But this will be no different than any other financially challenging times. You may have to give up one thing to afford another. Give up cell phone to buy gasoline. Give up cable TV to buy groceries. Like any time, you have to put priorities first. Just something we all have to deal with. Hard times could hit anyone even in economically strong times, like the past quite a few years. Oh, and I'm not complaining, but though we live over 1,200 miles from Galviston, we were hit hard by the storm. My wife's place of work got destroyed and she'll not be employed their until the place gets fixed -- estimated time: six months. We're still going over things, but should turn out just fine.

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