(09-17-2024, 12:44 PM)Jag149 Wrote:

(09-17-2024, 10:24 AM)mikesez Wrote: If you cared about saving time you wouldn't reply at all.

Suppose someone from the government came into your office and said, "I'm sending all the men away.  From now on only women can do this job." Your department immediately starts recruiting women to replace the men who were just sent away.  There are women willing to do the work but you have to lure them away from their current positions.  So in the short term, did your department just get more productive, or less productive?

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So why did rent go up so much?

Rents are up for a number of reasons. First landlords can onlt raise rents based on their leases so they have to estimate costs in the future. No one is going to lose money.

Just a few influencing factors for you there are more.
First, housing in Jax has historically appreciated on a yearly basis about 3% in town and 5% at the beaches.
The price of gas went up causing a chain event that increased pressure on landlords. ex. Everything from materials for upkeep to the cost to maintain common areas in multi family buildings.
Insurance cost rose as these costs piled on making it more expensive to cover claims 
Interest rates are up, making financing costs higher.
Regulations have been added requiring more capital and alterations to bring up to code.
Increased municipal costs and the rising value of the property have raised property taxes, it also had an effect on insurance costs.

The energy cost portion will abate as the administration moved to lower energy costs pre election. (Diesel is now around $3 now vs $5 in June 21) 
The interest rate portion will lag and take some time as the interest rates come down. The Fed is meeting this week and is projected to cut rates .25% the .50%.
The regulation portion may or may not change.

I bought a house in 1980 for 39k.  Today I can get about 175k, that is a 3.5% annual increase in value over 44 years. The percentages may remain constant but the real dollars become larger as the base increases.

Hope this helps