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Sunday, June 12, 2022

Climbing Rents

The following chart is interesting. It was posted on Twitter by Frog Capital. It doesn't say what are the number of bedrooms are involved. 

Rent increases are climbing everywhere and there's no relief in sight. I am glad that I am no longer a renter. My last rent in Tarzana, California (until February 2018) was a hair under $1,100/month. Others in the same building were considerably higher. My rent was lower since I lived there for almost 20 years.

Rent cost was another consideration for moving out of Commiefornia. Instead of pissing away money on rent, I bought a house on two acres (called a ranchette) in New Mexico. My Social Security was not enough for rent and living expenses, so I would have to dip into savings to make ends meet. Now, since I don't have to pay rent or house payments (I paid cash for the property), I can comfortably live on my Social Security each month and leave my savings and investments alone. And, New Mexico's property tax on my home is far less than one month's rent in Tarzana.

Here's the chart:

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