We have now seen tens of thousands of multi-family units constructed in in-demand neighborhoods with rental rates much higher than has been traditional in the "city".
- If you have recently moved out of one of these projects, where have you moved to?
- If you are currently living in one of these projects, what do you see yourself doing in 2-5 years?
- What type of housing are you looking at for the next step?
- What are you willing to give up versus what is still important to you?
- Are you planning on doing "what our forefathers did" and move to the suburbs for the schools?
- Can you even save for a down-payment when you are spending ~$2,000/month on rent?
Im curious to see what developers in this city will need to do to keep up with the next wave of demand to serve this phenomenon they have created. Are these people planning on staying in the rental game long-term? What happens when these folks start a family?
I ask this as a condo owner who is seeing the chance to buy a house in a great school district (right now, I know others are improving as time goes on) or a 3 br condo (these don't exist for the most part for less than 800,000) pass by.
Note: I am referring to all of the recent apartment projects constructed ITP or perimeter as its urban & expensive enough.