I recently came across a real estate newsletter that announced the rising costs of rental apartments. My first thought was “seriously?” This was only because the rent that I had to pay while I was in college, which was not that long ago, was constantly rising. I always thought that the reason for this was because Isla Vista (the college town right next to UCSB) was in high demand, so the leasing company was going to get the money, guaranteed; However the article also states that the real estate market has flattened and is expecting to rise, especially in the multi-family housing market, thanks to unemployment and terrible credit.
So, the moral of the story is: keep track of your finances, pay off your bills, and don’t have children until you’re financially stable to take any kind of responsibility. Its much better for kids to be raised in a permanent home instead of in an apartment (unless its big and has room for them to run around).
As for my fellow college kids… work your butt off or start asking for your parents for help because rent is just going to get more expensive (just as you thought it couldn’t increase anymore).
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