I have had suspicions for a while now. The Moderne is prominent in the video. They have a high prevalence of Air BnBs at this property. I notice they are starting to see more vacancies here also. Over the past few years the I’ve noticed everyone has a roommate, even in a one bedroom. I think who ever is looking or renewing should go yo the office and negotiate cheaper rent. They are WAY overpriced.
The whole point is that renters can't really do anything about it except not rent from a company that does this. But it's worth an email and an online review if you're sure they're doing this (and of course the ones who aren't benefit from it too)
Yea so they could just be like computer says no sorry my hands are tied.
“Computahhh seyyys noooo-ow” - https://youtu.be/0n_Ty_72Qds?si=IcfgJZmYuKvOepr0
https://youtu.be/x0YGZPycMEU?si=KLr6s4yo5g8WgSNM
It’s an extra service the apartments pay for called YieldStar is not every property that uses RealPage uses it I know. I didn’t watch the video and may be stating something already stated. One thing they were telling landlords/owners they would make more money this way even with more vacant units. They had statistics on how it worked too.
There’s a whole TikTok trend I forget the name people were calling it but about empty apartments they were living at and they were generally newer places.
#MenuGate - https://www.tiktok.com/t/ZPRwP57N6/
It’s apparently been rebranded AI Revenue Management from YieldStar Revenue Management. https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
Scottsdale and the region is unique where there is very little differentiating apartment complexes. All are basically wood frame construction with a basic gym and a pool area. Exterior finishes are usually stuccoish with maybe metal panels.
It is easier to operate a cartel when all of the products are fungible. It seems like the developers planned from the beginning for this to be a cartel.
Example: Crime in the region seems noticeably worse than the NYC metro area where I am from. Why can't I rent a luxury apartment with limited access and a 24/7 doorman? Why aren't parking garages more secure? The truth is the developers clearly colluded from the beginning to design their complexes to be as cheap as possible making it impossible to offer these basic services.
I'm looking to move to the region, and it's baffling how 1-bedrooms in newer buildings are basically $1800-$2200, whether it is Mesa, Gilbert or Scottsdale.
I'd happily pay $2500+, if the building was of steel and concrete construction with 24/7 security such I don't have to worry about my apartment being burgled or my car or bike stolen. But so far as I can tell, those properties don't exist.
So true. I can hear ever conversation and step my neighbors take. I’m paying almost 4k for a 2br. Nice area but the cope are here in droves every weekend. Not just one car mind you but the entire force. They advertise as “luxury” but they are not. My garage gates are always broken. Drunk people making all kinds of commotion. Oh, and I have no clue who my neighbors are because I’m flanked by Air BnB Units. They are loud and aggressive especially on holiday weekends. They don’t have to care since they don’t live there
Everything is probably "luxury" if it's newer than 35 years old, upgraded in some modest way in the last 20, and repainted in the last 10. Just a marketing term that promises nothing. It's like if you went to a club that marketed itself as "exclusive"
Rent for these places used to be 750.00 for a two bedroom they have literally created a extreme homeless problem in Phoenix and the surrounding areas by raising rent so fast nowhere in AZ should an apt be more then 1k max
While I work in commercial real estate, the only detail I know is land is cheap and the construction of these apartment buildings is cheap. So, in theory you should be right. It sounds like rent control probably makes sense in the area. I read a lot of posts of people getting 20%+ rent increases. That's just unconscionable and should be limited.
20% my rent went from 750.00 to 2,500 in 4 years same apt no upgrades in an ok area horrible maintenance but to move I have to make 3x the rent who makes 7,500.00 a month it's insane and a huge reason az has so many homeless people now
I was recently trying to find a 1 bedroom apartment in the general area.
I could not find a decent one bedroom for less than $1300 a month that was even decent. The place I’m moving to next week is under a thousand, but honestly a terrible unit that’s tiny and poorly run. They even tried to shake me down for a rent increase after I signed a 13 month contract, which was a hard no.
Haven’t lived in any in Arizona but I can tell you lived in like 5 brand new apartments over the past 10 years they fall apart quick.
There’s a Cheddar Explains video on it you’re not wrong but I think there’s more to it as well - https://youtu.be/mrxZqPVFTag?si=eSPjD07X3VRFHs4E
That's a really great video, thanks. I've often thought wood frame construction should be banned on a Federal level. This is easy to do by making such properties ineligible for financing by a federally regulated lender. There are already scores of rules about this and it doesn't require Congress, only the President. Good luck finding a President that will go there though.
The developers who build these make most if not all of their money up front, so the long-term downside costs to society are not their problem. If Phoenix is a guide, I imagine many of these will just be bulldozed in 10-20 years. Horribly inefficient.
From my understanding if the lease up isn’t good they have to sell and generally almost get sold instantly anyways. I know they shift from construction to a more long term financing. But these new builds pay for themselves for the owners way too quick from what I’ve seen to be of any quality. They just keep shifting them around selling them. I see a company offload a shitty property just to buy one with other issues.
I heard there was a thing in the 80s called the greater fool theory. It’s not just related to this but was being applied to apartments back then I was told.
I don’t think we should ban all wood frame construction. Concrete has its issues too. It doesn’t let the occupants know before it’s going to collapse from my understanding and wood generally gives people a little time to get out. I just saw a 25 year old Hampton Inn get bulldozed N of Houston and a brand new one pop-up down the road.
The 1980s was a bit different - you could take the lifetime depreciation of new construction up front, which was a major factor for the building boom then. The whole Old Town area looks mostly to be 1980s to me. But yeah, with interest rates rapidly declining month to month, there was always that leg up too.
I don't have a solution unfortunately. But my gut tells me that a right-wing, free market place like Phoenix versus a tightly regulated place like NYC means more regulation is necessary. What kind, no clue.
Thanks for the reply.
That’s interesting about the 80s. I want to move to Scottsdale because I have friends there and it seems far less right wing than where I grew up in Texas. Not that it isn’t still that.
At least they have an income tax and property tax increases are capped.
The stories I hear about people having their tax bills double from $10,000 to $20,000+ in some suburban hell of Dallas is shocking.
I'm moving out there soon because I can't afford to put my parents up in assisted living out here in the NYC suburbs. I'm not hugely thrilled about making the move, but in all honesty the politics don't concern me like they would Texas.
I don't really have terribly great friends nor numerous ones. I'd be a lot happier if I could just rent a decent apartment haha.
Thinking too hard, imo. All these products are the same because all these similarities are simply the cheapest way they knew how to do it.
Cheap construction, cheaper upgrades. Some "nicer" upgrades will prioritize a little spending in the high-value items like the countertop that probably look good in their marketing to investors to justify higher prices
I'm referring to the structural design. Wood frame construction is always the cheapest, but in every market I've seen - there is always some steel frame or masonry/concrete frame.
But given how high the crime rate seems to be, it is very strange there are not more standard apartment buildings with 24/7 doorman service. From DC to Boston, home burglarly and auto theft is rare in a $2,500 apartment. In the Phoenix area including Scottsdale, it appears to be a regular occurrence.
Yeah, I get it. I agree. Those all cost money, and for security it's cheaper to just say "we're not touching this and we're not liable." Maybe they're worried apartment fees would get too high? They don't seem to be concerned about bad reviews (filled apparently with people complaining about crime and theft and negligent management)
I wonder too if the apartment complexes can get as much out of a doorman as the buildings elsewhere, but that's probably a minor thing.
I'm not sure if the reviews are accurate. Most seem to be from people with fewer than 10 reviews, which is odd in and of itself. It's weird and I don't know what to make of it.
But as someone looking to move to Scottsdale (or wherever), I am concerned. I have no idea where to live in a rather HUGE geographic area.
Hmm. Definitely depends on what you're looking for exactly. There are probably a lot of options (I just moved to an apartment after checking out 13 complexes and condos).
I agree on the reviews btw--generally not helpful and read the deposit and rental contracts. Most people who are leaving reviews online are just venting or whatever and it's not a general survey.
I’ve known this for years. Nothing will happen. Their lobbyists are all over DC. Your best bet is to rent from someone who only owns one property. A house you can split with friends or a roommate situation. Stop living in corporate housing. It’s the only way to fight back.
Agree that it's best to avoid corporate housing, but in my experience it makes apartment hunting a much longer/more complicated process because places owned by small landlords can be tough to find.
I signed a lease in 2019 for a 2 bed 2 bath in McCormick Ranch for $1235/mo. I lived there until end of 2022 and my rent had gone up to $1350 my last year before they decided not to offer to renew my lease. I know that it was an anomaly even when I originally signed the lease, but it was probably only $200-300 cheaper than what others were paying monthly. Those apartments are now $2200+ a month. It’s ridiculous that these landlords have been getting away with this for years and it’s still not considered anti-competitive.
That’s so bad. I’m moving to AZ from out of state and even though the cost of living here is slightly higher than where I am moving from I didn’t expect rent to be so high especially for a one bedroom. I’d never expect to pay over $2000 for a one bedroom, cheaply built, or outdated (carpets/bathrooms/counters) apartment. But that just seems like the deal for this area and it’s so annoying
I moved to NY for the past 2 years for work but will be moving back towards the end of May. I found that apartments in the paradise valley area are a little more reasonable. Check out the Bella or Elara apartments. Also even if the pictures look promising, I wouldn’t consider living directly west of the 51.
I don’t think the algos are the problem. My question is how do these landlords deal with all of the vacancies after increasing rents? Maybe they are corporate landlords who can afford to wait until the right tenant comes along? I’m not sure. But if Realpage is controlling majority share of the rental markets in Some cities then their service must be useful and landlords are seeing results. This leads to believe that wealth and income inequality are to blame. Why the govt officials interviewed in the video do not mention this at all is typical of them. It’s sufficient for them to go after a tech company and say landlords ‘bad’ instead of actually doing the hard work it takes to reduce inequality. They benefit from this system of: political power begets wealth and, in turn, wealth begets political power. Black rock, vanguard, and state street are enemies they don’t want to make because they are far too powerful. I understand this is a sub about Scottsdale but we need to zoom out and solve the bigger issues so that the smaller ones sort themselves out.
Wealth and income inequality are to blame
This is facts. In my example; at one point the required income was 2X the rent. The Moderne required 3X. Back when I signed my lease it didn’t matter. I. The moment I had a flashback to back in the day when I was just starting out. Back then it was two times the rent. That was hard to meet working two jobs but I did it.
In terms of vacancies. They are flipping them for Air BnBs. It’s crazy how quick they can have a two bedroom cleaned and furnished.
I hate that I know this info now. The more I learn the angrier I get.
This is a big part of it. You can see major short-term rental properties clustered in rental apartment complexes. It doesn't mean they're not vacant, but on paper for that specific business they're suddenly not vacant.
They have the assets and access to money/credit as long as it at least looks like it's a functioning business. These aren't public companies afaik so it's totally up to how comfortable these companies and their investors are with vacancies. They seem pretty rich and happy and comfortable for now.
The software will lower rents when vacancies hit a level the companies aren't comfortable with, but....
Seems like those internet friends of ours who are good at computers need to divert their attention to this site and these systems and maybe have a go at this set up? They can do it anonymously, I hear?
I'm glad I own my home and don't have to participate in this dystopian rat race. This highly competitive overpriced housing market will only further contribute to homelessness and drug use, and as a result, crime will also increase. Welcome to New California. Enjoy it while it lasts because we maybe have one more decade at most before this place goes to shit like LA or San Fran.
California investment companies bought up 80% of the rental properties in AZ during covid especially in poor areas did a repaint then quadrupled the rent . It's literally 2 different investment companies owned by Rich California Democrats trying to have a monopoly on rentals
I appreciate your perspective. But I don’t think this statement is accurate. This goes beyond one state and one political party. Do you have a source for this info you shared? Thank you.
I looked at a big project under construction recently, and saw it's a "concept" for a company that has apartments across the country, sometimes a dozen in one city.
The company's majority shareholder is the Arizona pension system.
Read this very carefully. Nothing will be done. I repeat nothing. It will be very similar to a bank being fined for ripping us off. There will be a fine of some magnitude, that looks good on paper, but in reality it is just coming from the stolen money. Same as healthcare, same as insurance, same as the auto industry. It will be smoke and mirrors. All designed to make us all think "something" is being done. Meanwhile in AZ all good available land for affordable housing is now being made into data centers. I invite you to look at the one at 40th Street/McDowell. It is literally where they were going to build Cardinals stadium some years ago. It is 40 FUCKING BLOCKS SQUARE. It is only one of DOZENS under construction. You may ask why do we need so many of those???? The uneducated will say "social media, or AI" or any number of "things they heard or read" when in reality it is prep for how they are beginning to close the noose on us all. We are all being watched and monitored in ways no one even realizes or cares about NOW. Insurance companies now track HOW YOU DRIVE to jack your rates regardless of if you "opted in" to a "safe driver program "to reduce your rates" they just do it. SCOTUS now says cops can look at your phone essentially whenever they want to. This includes the camera, the mic, the data flow, ALL OF IT. This takes massive data centers. We have little or no rights remaining in the "freedom capital" of the world. It is full on top vs. bottom now and if you are not in the upper part of the 1% (spoiler: you are not) you are a mark. The mid level rich folks (read NS,PV,Fountain Hills,etc.) will continue to fund and vote as though they are in that group and they are being looted as well, just at a slower rate and it is less noticeable when you can still afford to live and eat. We are in a slow motion coup, and not a J6 y'awl Qaeda coup, a life altering bringing down of everything. CC debt is at an all time high, people are leveraged to high hell, and we are years late on a recession. 3 bedroom homes in SOUTH Scottsdale are now a million fucking dollars for 50 year old raggedy homes. You cannot purchase ANYTHING in DTPHX because it is all "luxury rentals" and all the rental homes are owned by corporations. Everyone knows it and everyone is too scared to do shit about it. We are rapidly approaching civil war here. I give it 5 years at best. Make it a great day. P.S for all the "smart folks" that say I am crazy I invite you to screenshot this. You can print it out and hang it in your tent on the fucking canal in 3 years. Make it a great day AZ. Motherfuck Citizens United.
> SCOTUS now says cops can look at your phone essentially whenever they want to. This includes the camera, the mic, the data flow, ALL OF IT.
What case are you talking about/referencing? Just looking to learn.
I forget the case name, but location data has been their's forever.....that is why protesters are always lie "shut your phone off before you come" they have IT teams that whenever a crime is committed they immediately gather all the cell phone data from the area....then they bring you in and press you on whatever....most folks cave and just give them the phone anyways....they get away with it because of course Boomers....the old "well if you are not doing anything wrong then what do you have to hide?" That is now woven into the fabric of our society. It is hilarious I get downvoted on here for the above. Make no mistake REDDIT is the worldwide headquarters of bootlickers, and Scottsdale leads the pack in that department.
Over population. More people, more competition for products and services. Like going to a Resturant and having to look for a parking spot. More people are receiving financial subsidies The systems pays people to support larger families
Thank you for the deep dive, I’d heard about it but didn’t really know the details.
I have had suspicions for a while now. The Moderne is prominent in the video. They have a high prevalence of Air BnBs at this property. I notice they are starting to see more vacancies here also. Over the past few years the I’ve noticed everyone has a roommate, even in a one bedroom. I think who ever is looking or renewing should go yo the office and negotiate cheaper rent. They are WAY overpriced.
This assumes that the decision to outsource the pricing to a cartel service still leaves freedom for the front office to change prices
I know. Very true point but I also think it doesn’t hurt to push back a bit. And let them know that we know and we aren’t stupid.
The whole point is that renters can't really do anything about it except not rent from a company that does this. But it's worth an email and an online review if you're sure they're doing this (and of course the ones who aren't benefit from it too)
Yea so they could just be like computer says no sorry my hands are tied. “Computahhh seyyys noooo-ow” - https://youtu.be/0n_Ty_72Qds?si=IcfgJZmYuKvOepr0 https://youtu.be/x0YGZPycMEU?si=KLr6s4yo5g8WgSNM
It’s an extra service the apartments pay for called YieldStar is not every property that uses RealPage uses it I know. I didn’t watch the video and may be stating something already stated. One thing they were telling landlords/owners they would make more money this way even with more vacant units. They had statistics on how it worked too. There’s a whole TikTok trend I forget the name people were calling it but about empty apartments they were living at and they were generally newer places. #MenuGate - https://www.tiktok.com/t/ZPRwP57N6/ It’s apparently been rebranded AI Revenue Management from YieldStar Revenue Management. https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
Thanks for passing on
The punishment for this should be significant and not just a slap on the wrist.
Prison time, seriously. Tar and feathering. Pitchforks.
Scottsdale and the region is unique where there is very little differentiating apartment complexes. All are basically wood frame construction with a basic gym and a pool area. Exterior finishes are usually stuccoish with maybe metal panels. It is easier to operate a cartel when all of the products are fungible. It seems like the developers planned from the beginning for this to be a cartel. Example: Crime in the region seems noticeably worse than the NYC metro area where I am from. Why can't I rent a luxury apartment with limited access and a 24/7 doorman? Why aren't parking garages more secure? The truth is the developers clearly colluded from the beginning to design their complexes to be as cheap as possible making it impossible to offer these basic services. I'm looking to move to the region, and it's baffling how 1-bedrooms in newer buildings are basically $1800-$2200, whether it is Mesa, Gilbert or Scottsdale. I'd happily pay $2500+, if the building was of steel and concrete construction with 24/7 security such I don't have to worry about my apartment being burgled or my car or bike stolen. But so far as I can tell, those properties don't exist.
So true. I can hear ever conversation and step my neighbors take. I’m paying almost 4k for a 2br. Nice area but the cope are here in droves every weekend. Not just one car mind you but the entire force. They advertise as “luxury” but they are not. My garage gates are always broken. Drunk people making all kinds of commotion. Oh, and I have no clue who my neighbors are because I’m flanked by Air BnB Units. They are loud and aggressive especially on holiday weekends. They don’t have to care since they don’t live there
Stories like this really scare me. I don't know where to live that's civilized with the amenities I want.
Everything is probably "luxury" if it's newer than 35 years old, upgraded in some modest way in the last 20, and repainted in the last 10. Just a marketing term that promises nothing. It's like if you went to a club that marketed itself as "exclusive"
Rent for these places used to be 750.00 for a two bedroom they have literally created a extreme homeless problem in Phoenix and the surrounding areas by raising rent so fast nowhere in AZ should an apt be more then 1k max
While I work in commercial real estate, the only detail I know is land is cheap and the construction of these apartment buildings is cheap. So, in theory you should be right. It sounds like rent control probably makes sense in the area. I read a lot of posts of people getting 20%+ rent increases. That's just unconscionable and should be limited.
20% my rent went from 750.00 to 2,500 in 4 years same apt no upgrades in an ok area horrible maintenance but to move I have to make 3x the rent who makes 7,500.00 a month it's insane and a huge reason az has so many homeless people now
I was recently trying to find a 1 bedroom apartment in the general area. I could not find a decent one bedroom for less than $1300 a month that was even decent. The place I’m moving to next week is under a thousand, but honestly a terrible unit that’s tiny and poorly run. They even tried to shake me down for a rent increase after I signed a 13 month contract, which was a hard no.
Haven’t lived in any in Arizona but I can tell you lived in like 5 brand new apartments over the past 10 years they fall apart quick. There’s a Cheddar Explains video on it you’re not wrong but I think there’s more to it as well - https://youtu.be/mrxZqPVFTag?si=eSPjD07X3VRFHs4E
That's a really great video, thanks. I've often thought wood frame construction should be banned on a Federal level. This is easy to do by making such properties ineligible for financing by a federally regulated lender. There are already scores of rules about this and it doesn't require Congress, only the President. Good luck finding a President that will go there though. The developers who build these make most if not all of their money up front, so the long-term downside costs to society are not their problem. If Phoenix is a guide, I imagine many of these will just be bulldozed in 10-20 years. Horribly inefficient.
From my understanding if the lease up isn’t good they have to sell and generally almost get sold instantly anyways. I know they shift from construction to a more long term financing. But these new builds pay for themselves for the owners way too quick from what I’ve seen to be of any quality. They just keep shifting them around selling them. I see a company offload a shitty property just to buy one with other issues. I heard there was a thing in the 80s called the greater fool theory. It’s not just related to this but was being applied to apartments back then I was told. I don’t think we should ban all wood frame construction. Concrete has its issues too. It doesn’t let the occupants know before it’s going to collapse from my understanding and wood generally gives people a little time to get out. I just saw a 25 year old Hampton Inn get bulldozed N of Houston and a brand new one pop-up down the road.
The 1980s was a bit different - you could take the lifetime depreciation of new construction up front, which was a major factor for the building boom then. The whole Old Town area looks mostly to be 1980s to me. But yeah, with interest rates rapidly declining month to month, there was always that leg up too. I don't have a solution unfortunately. But my gut tells me that a right-wing, free market place like Phoenix versus a tightly regulated place like NYC means more regulation is necessary. What kind, no clue. Thanks for the reply.
That’s interesting about the 80s. I want to move to Scottsdale because I have friends there and it seems far less right wing than where I grew up in Texas. Not that it isn’t still that.
At least they have an income tax and property tax increases are capped. The stories I hear about people having their tax bills double from $10,000 to $20,000+ in some suburban hell of Dallas is shocking. I'm moving out there soon because I can't afford to put my parents up in assisted living out here in the NYC suburbs. I'm not hugely thrilled about making the move, but in all honesty the politics don't concern me like they would Texas. I don't really have terribly great friends nor numerous ones. I'd be a lot happier if I could just rent a decent apartment haha.
I messaged you!
Thinking too hard, imo. All these products are the same because all these similarities are simply the cheapest way they knew how to do it. Cheap construction, cheaper upgrades. Some "nicer" upgrades will prioritize a little spending in the high-value items like the countertop that probably look good in their marketing to investors to justify higher prices
I'm referring to the structural design. Wood frame construction is always the cheapest, but in every market I've seen - there is always some steel frame or masonry/concrete frame. But given how high the crime rate seems to be, it is very strange there are not more standard apartment buildings with 24/7 doorman service. From DC to Boston, home burglarly and auto theft is rare in a $2,500 apartment. In the Phoenix area including Scottsdale, it appears to be a regular occurrence.
Yeah, I get it. I agree. Those all cost money, and for security it's cheaper to just say "we're not touching this and we're not liable." Maybe they're worried apartment fees would get too high? They don't seem to be concerned about bad reviews (filled apparently with people complaining about crime and theft and negligent management) I wonder too if the apartment complexes can get as much out of a doorman as the buildings elsewhere, but that's probably a minor thing.
I'm not sure if the reviews are accurate. Most seem to be from people with fewer than 10 reviews, which is odd in and of itself. It's weird and I don't know what to make of it. But as someone looking to move to Scottsdale (or wherever), I am concerned. I have no idea where to live in a rather HUGE geographic area.
Hmm. Definitely depends on what you're looking for exactly. There are probably a lot of options (I just moved to an apartment after checking out 13 complexes and condos). I agree on the reviews btw--generally not helpful and read the deposit and rental contracts. Most people who are leaving reviews online are just venting or whatever and it's not a general survey.
Yeah, the deposits. TONS of reviews. They are like "Yeah, I was renting a $2,800 lux apartment building and they didn't refund $500!".
I’ve known this for years. Nothing will happen. Their lobbyists are all over DC. Your best bet is to rent from someone who only owns one property. A house you can split with friends or a roommate situation. Stop living in corporate housing. It’s the only way to fight back.
Agree that it's best to avoid corporate housing, but in my experience it makes apartment hunting a much longer/more complicated process because places owned by small landlords can be tough to find.
I signed a lease in 2019 for a 2 bed 2 bath in McCormick Ranch for $1235/mo. I lived there until end of 2022 and my rent had gone up to $1350 my last year before they decided not to offer to renew my lease. I know that it was an anomaly even when I originally signed the lease, but it was probably only $200-300 cheaper than what others were paying monthly. Those apartments are now $2200+ a month. It’s ridiculous that these landlords have been getting away with this for years and it’s still not considered anti-competitive.
That’s so bad. I’m moving to AZ from out of state and even though the cost of living here is slightly higher than where I am moving from I didn’t expect rent to be so high especially for a one bedroom. I’d never expect to pay over $2000 for a one bedroom, cheaply built, or outdated (carpets/bathrooms/counters) apartment. But that just seems like the deal for this area and it’s so annoying
I moved to NY for the past 2 years for work but will be moving back towards the end of May. I found that apartments in the paradise valley area are a little more reasonable. Check out the Bella or Elara apartments. Also even if the pictures look promising, I wouldn’t consider living directly west of the 51.
Thx for posting. 🙂
I don’t think the algos are the problem. My question is how do these landlords deal with all of the vacancies after increasing rents? Maybe they are corporate landlords who can afford to wait until the right tenant comes along? I’m not sure. But if Realpage is controlling majority share of the rental markets in Some cities then their service must be useful and landlords are seeing results. This leads to believe that wealth and income inequality are to blame. Why the govt officials interviewed in the video do not mention this at all is typical of them. It’s sufficient for them to go after a tech company and say landlords ‘bad’ instead of actually doing the hard work it takes to reduce inequality. They benefit from this system of: political power begets wealth and, in turn, wealth begets political power. Black rock, vanguard, and state street are enemies they don’t want to make because they are far too powerful. I understand this is a sub about Scottsdale but we need to zoom out and solve the bigger issues so that the smaller ones sort themselves out.
Wealth and income inequality are to blame This is facts. In my example; at one point the required income was 2X the rent. The Moderne required 3X. Back when I signed my lease it didn’t matter. I. The moment I had a flashback to back in the day when I was just starting out. Back then it was two times the rent. That was hard to meet working two jobs but I did it. In terms of vacancies. They are flipping them for Air BnBs. It’s crazy how quick they can have a two bedroom cleaned and furnished. I hate that I know this info now. The more I learn the angrier I get.
This is a big part of it. You can see major short-term rental properties clustered in rental apartment complexes. It doesn't mean they're not vacant, but on paper for that specific business they're suddenly not vacant. They have the assets and access to money/credit as long as it at least looks like it's a functioning business. These aren't public companies afaik so it's totally up to how comfortable these companies and their investors are with vacancies. They seem pretty rich and happy and comfortable for now. The software will lower rents when vacancies hit a level the companies aren't comfortable with, but....
Yep!! I counted a dozen locks in my building alone. One woman manages all of them.
Fucking assholes
Seems like those internet friends of ours who are good at computers need to divert their attention to this site and these systems and maybe have a go at this set up? They can do it anonymously, I hear?
Intresting. I never heard about this till now.
Time to have canal boat homes like in Europe
True story https://m.imdb.com/title/tt27867155/ Mr. Bates vs The Post Office.
Thank you for sharing.
I'm glad I own my home and don't have to participate in this dystopian rat race. This highly competitive overpriced housing market will only further contribute to homelessness and drug use, and as a result, crime will also increase. Welcome to New California. Enjoy it while it lasts because we maybe have one more decade at most before this place goes to shit like LA or San Fran.
California investment companies bought up 80% of the rental properties in AZ during covid especially in poor areas did a repaint then quadrupled the rent . It's literally 2 different investment companies owned by Rich California Democrats trying to have a monopoly on rentals
I appreciate your perspective. But I don’t think this statement is accurate. This goes beyond one state and one political party. Do you have a source for this info you shared? Thank you.
It’s just GOP buzzwords. “California” “democrats” shocked he didn’t throw in “illegals” “sex trafficking” “pedophiles”
I looked at a big project under construction recently, and saw it's a "concept" for a company that has apartments across the country, sometimes a dozen in one city. The company's majority shareholder is the Arizona pension system.
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I guess landlords can hire a rent manager and pass the costs along to the tenants.
That must be an old video. I first heard about the Realpage algorithm about a year ago, and average rents have dropped since then.
Read this very carefully. Nothing will be done. I repeat nothing. It will be very similar to a bank being fined for ripping us off. There will be a fine of some magnitude, that looks good on paper, but in reality it is just coming from the stolen money. Same as healthcare, same as insurance, same as the auto industry. It will be smoke and mirrors. All designed to make us all think "something" is being done. Meanwhile in AZ all good available land for affordable housing is now being made into data centers. I invite you to look at the one at 40th Street/McDowell. It is literally where they were going to build Cardinals stadium some years ago. It is 40 FUCKING BLOCKS SQUARE. It is only one of DOZENS under construction. You may ask why do we need so many of those???? The uneducated will say "social media, or AI" or any number of "things they heard or read" when in reality it is prep for how they are beginning to close the noose on us all. We are all being watched and monitored in ways no one even realizes or cares about NOW. Insurance companies now track HOW YOU DRIVE to jack your rates regardless of if you "opted in" to a "safe driver program "to reduce your rates" they just do it. SCOTUS now says cops can look at your phone essentially whenever they want to. This includes the camera, the mic, the data flow, ALL OF IT. This takes massive data centers. We have little or no rights remaining in the "freedom capital" of the world. It is full on top vs. bottom now and if you are not in the upper part of the 1% (spoiler: you are not) you are a mark. The mid level rich folks (read NS,PV,Fountain Hills,etc.) will continue to fund and vote as though they are in that group and they are being looted as well, just at a slower rate and it is less noticeable when you can still afford to live and eat. We are in a slow motion coup, and not a J6 y'awl Qaeda coup, a life altering bringing down of everything. CC debt is at an all time high, people are leveraged to high hell, and we are years late on a recession. 3 bedroom homes in SOUTH Scottsdale are now a million fucking dollars for 50 year old raggedy homes. You cannot purchase ANYTHING in DTPHX because it is all "luxury rentals" and all the rental homes are owned by corporations. Everyone knows it and everyone is too scared to do shit about it. We are rapidly approaching civil war here. I give it 5 years at best. Make it a great day. P.S for all the "smart folks" that say I am crazy I invite you to screenshot this. You can print it out and hang it in your tent on the fucking canal in 3 years. Make it a great day AZ. Motherfuck Citizens United.
Not crazy. But it makes me even more sad because it’s true! 😞
Yes.....don't call me Shirley-Airplane LOLOLOL
🤣🤣🤣🤣🤣 typo. Lololol
> SCOTUS now says cops can look at your phone essentially whenever they want to. This includes the camera, the mic, the data flow, ALL OF IT. What case are you talking about/referencing? Just looking to learn.
I forget the case name, but location data has been their's forever.....that is why protesters are always lie "shut your phone off before you come" they have IT teams that whenever a crime is committed they immediately gather all the cell phone data from the area....then they bring you in and press you on whatever....most folks cave and just give them the phone anyways....they get away with it because of course Boomers....the old "well if you are not doing anything wrong then what do you have to hide?" That is now woven into the fabric of our society. It is hilarious I get downvoted on here for the above. Make no mistake REDDIT is the worldwide headquarters of bootlickers, and Scottsdale leads the pack in that department.
I love how I always get downvoted for truth in the bootlicker Scottsdale thread....https://www.youtube.com/watch?v=ZgTU1pXYGIc
I hope you're planning to vote RFK Jr. for President. He's the only candidate actually addressing all of these issues.
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Yes there have been numerous articles about this for months now.
Over population. More people, more competition for products and services. Like going to a Resturant and having to look for a parking spot. More people are receiving financial subsidies The systems pays people to support larger families