I understand the simple economics of supply and demand at play in our current housing market. My soapbox is tall and I could go on for days about what it feels like to be a local pushed out in the housing market.
However, to all the slumlords of Durango, let me simply say that the age-old practice of raising rent on locals to unattainable prices is wrong. More specifically, raising rent on people whose incomes are based in the local economy, is wrong.
As more and more wealthy remote workers move here (many from Silicon Valley, for instance) the demand for cheaply made rentals is skyrocketing.
I live in a two-bedroom two-and-a-half-bath duplex. We have a yard and garage. Our rent has hovered around $1,300 a month for going on five years. With each lease renewal we breathe a sigh of relief that rent hasn’t increased significantly for us ... yet.
I am astonished to find that the exact same mirror unit on the other side of my wall will be renting for $2,000 a month. The unit is falling apart, much like our own, which has clearly depreciated significantly with normal wear and tear. My unit is not a temporary stepping stone for my husband and I. It is a home that we have made for ourselves. We make decent money, but a $2,000 a month rent check is not only unreasonable, it is unattainable.
This bubble needs to burst. We see you, slumlords, and we are losing tolerance at a rapid rate.
Grace LandryDurango
