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news
Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston
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JCK
Joined: 15 Feb 2007
Posts: 559
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 Posted: Thu Aug 14, 2008 3:52 pm GMT Post subject: |
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| Quote: | | The increase in Greater Boston was "largely attributable" to increases in the housing costs and higher prices for gas and utilities, the bureau said. |
Does this imply that rents going up now? |
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admin
Site Admin
Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
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| Posted: Thu Aug 14, 2008 4:15 pm GMT Post subject: |
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| JCK wrote: |
Does this imply that rents going up now? |
Surprisingly, no. I thought you were probably right, but I went and looked up the numbers to see how much actual rents had gone up versus owner equivalent imputed rents and was surprised at the results. Actual rent was only up 1.27% over the period covered. Owners' equivalent rent of primary residence is actually down 1.15%.
Wondering what was going on, I dug a little more and discovered that "Housing" includes three subcategories: shelter, fuels and utilities, and household furnishings and operations. Rent is listed as part of the shelter sub-category. I then took at look at the next sub-category, fuels and utilities, and it was up 36.78%! I think that is the likely culprit. The Globe article made it sound as if housing and utilities are separate whereas utilities are actually a subset of housing.
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Renting in Mass
Joined: 26 Jun 2008
Posts: 381
Location: In a house I bought in December 2011
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| Posted: Thu Aug 14, 2008 6:09 pm GMT Post subject: |
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| Quote: | | The increase in Greater Boston was "largely attributable" to increases in the housing costs and higher prices for gas and utilities, the bureau said. |
And it's the middle of the summer! This number could get really ugly when people have to start heating their houses. |
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admin
Site Admin
Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
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| Posted: Thu Aug 14, 2008 6:20 pm GMT Post subject: |
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Just to clarify, the percentage changes that I posted above were for the time period July 2007 through July 2008 (i.e., it was the year-over-year change, not month-over-month).
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prokeds
Joined: 18 Oct 2007
Posts: 5
Location: near Boston
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| Posted: Thu Aug 14, 2008 6:34 pm GMT Post subject: Energy costs vis a vis rent |
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| Along these lines, our landlord has informed us that he will be raising the rent to reflect the fact that heating costs have doubled since last year (he lives below us and pays the heating bill for the whole house). I did a little digging at nstar and found that in fact it was up, but "only" about 50%. |
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