I live in LA where rent is crazy expensive and am currently renting a room, on a month to month lease, for about $700 a month. I'm saving $2-3000/mo. I'd been planning to move into my own apartment ($1600+/mo), but decided to stall and wait out the lockdown. This month, for the first time, I'm starting to see small rents drop. But with over 1/4 of all Los Angelinos unemployed, and the eviction freeze and unemployment benefits ending soon, maybe I should stall another month or two...
I've also got some cash saved up and if the economy really tanks, I might buy a house. So not being locked into a lease sounds cool. But I'm a freelancer, and the big project I'm on will probably only last a couple more months max, and most of the local apartments are insisting on a year's worth of consistent income so even a month gap will drop my qualifying power. I am, however, in an industry that is likely to be busier than usual due to lockdown restrictions, so I'm not that freaked out about finding more work whenever that time comes.
What do you guys think? I know this is all unprecedented chaos.
Submitted June 18, 2020 at 09:02PM by BigCityRaccoon https://ift.tt/2UWYvWM
