Our rental contract is expiring this year and we’re wishing so hard that we can still afford to stay in this unit we are renting. Unfortunately, current market rates for our unit has more than doubled. Which brought me to thinking… one of the podcasts I subscribe to explained that one of the reasons the US is having the subprime problems is that property rates were going up so fast but people’s salaries weren’t going up with it. Isn’t that the same thing that’s happening here? Or is that a stupid question? Pardon me, but I can’t seem to grasp how people cope with doubling rents when salaries hardly go up with it. I would think that at some point property rates would just stabilize. And with the global recession and all, who can afford these rates?
3 responses so far ↓
1 Calvin // Oct 5, 2008 at 7:05 pm
so most likely lilipat nga kayo? sayang yung place.
ganda pa naman.
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2 Claudine // Oct 24, 2008 at 5:12 pm
Dito sa Beijing, rental prices went up big time before the Olympics. Post-Olympics, it’s up but not as much. However, year on year, the rental rate goes up by more than 10%.
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3 Ms. Tsiken // Oct 27, 2008 at 6:51 pm
I’m crossing my fingers that the global recession will pull down rental rates at sana abutan ang renta namin. We don’t want to get pegged at a high rental rate tapos biglang bababa pala because of the recession.
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