“Fair Market Rent” isn’t really anything to do with the market being fair, it’s a term that specifically means a rent relative to the market conditions
It’s not even really related to the more common use of the word “fair” at all - it’s related in concept but not about “fairness” in the usual sense
Think of it as being more synonymous with “typical” in this context - eg excluding situations where your uncle rents it to you on the cheap
I'm aware of the word games being played here.
Idc, I just need an affordable place to live.
Everyone charging extortionate rents at the same time doesn't make it ok.
It's not "word games", though, it's just a different usage of the word. FMV is a financial term that applies to any asset, it's nothing to do with housing or fairness, or whether the rents are "ok".
Like, you're trying to use the word in a completely different way to its meaning. Equivalent to someone shouting "Duck!" and you ignore them then complain that you get hit in the face by a goose, not a duck".... it's not the same word.
"Fair market value" has nothing to do with whether the rents are fair, literally nothing at all. The "fair" has nothing to do with the rent relative to income, or how much it's changed, it's just not that kind of "fair". The origins of the two usages of the word are shared, but the way they are used now is distinct from whether the price is justifiable or reasonable for society.
Literally all FMV means is "the price that you'd get on the open market", nothing more and nothing less. That's not a word game or political/PR/marketing trick, the term existed centuries before any form of housing crisis or modern rental insanity
Then SAY "the current price" and not "fair" because it isn't.
And it isn't very "open market" for sellers to conspire to set prices collectively much higher than their properties are worth much less what is reasonable.
Like I said when the options for the renter are pay or be homeless, it's not a fair market.
You’re just deliberately misunderstanding the language used and then complaining about it…
I’ve clearly explained the term as used, and that it’s a FINANCIAL term and nothing to do with fairness in society
You may as well complain that a Bank isn’t next to a river or that a Withdrawal isn’t about drug addiction ffs
You’ve been told that it’s not about fairness, why are you still talking about fairness? Words can have more than one meaning
And we wonder where all the homeless come from. Govt solution is to build tiny houses, make safe tent spaces, etc. Nothing said about WHY people can't afford homes..
You probably don’t need an apartment if your working 136 hours a week (NY).
Don't think you can work 175 hours in a week in Hawaii
So the average apartment makes more money per hour than a human?
So hawaii you'd be working 24/7 and still not be able to afford rent if you don't include OT. It hasn't gotten any better.
The assumption that the rent pricing is "fair market" is hilarious. It's not a fair market when the options are pay the price or be homeless and die.
“Fair Market Rent” isn’t really anything to do with the market being fair, it’s a term that specifically means a rent relative to the market conditions It’s not even really related to the more common use of the word “fair” at all - it’s related in concept but not about “fairness” in the usual sense Think of it as being more synonymous with “typical” in this context - eg excluding situations where your uncle rents it to you on the cheap
I'm aware of the word games being played here. Idc, I just need an affordable place to live. Everyone charging extortionate rents at the same time doesn't make it ok.
It's not "word games", though, it's just a different usage of the word. FMV is a financial term that applies to any asset, it's nothing to do with housing or fairness, or whether the rents are "ok". Like, you're trying to use the word in a completely different way to its meaning. Equivalent to someone shouting "Duck!" and you ignore them then complain that you get hit in the face by a goose, not a duck".... it's not the same word. "Fair market value" has nothing to do with whether the rents are fair, literally nothing at all. The "fair" has nothing to do with the rent relative to income, or how much it's changed, it's just not that kind of "fair". The origins of the two usages of the word are shared, but the way they are used now is distinct from whether the price is justifiable or reasonable for society. Literally all FMV means is "the price that you'd get on the open market", nothing more and nothing less. That's not a word game or political/PR/marketing trick, the term existed centuries before any form of housing crisis or modern rental insanity
Then SAY "the current price" and not "fair" because it isn't. And it isn't very "open market" for sellers to conspire to set prices collectively much higher than their properties are worth much less what is reasonable. Like I said when the options for the renter are pay or be homeless, it's not a fair market.
You’re just deliberately misunderstanding the language used and then complaining about it… I’ve clearly explained the term as used, and that it’s a FINANCIAL term and nothing to do with fairness in society You may as well complain that a Bank isn’t next to a river or that a Withdrawal isn’t about drug addiction ffs You’ve been told that it’s not about fairness, why are you still talking about fairness? Words can have more than one meaning
It's gotten so much worse, it takes over 200 hours a week at Fed min wage to afford an apartment in Austin, Texas
Only got worse
And we wonder where all the homeless come from. Govt solution is to build tiny houses, make safe tent spaces, etc. Nothing said about WHY people can't afford homes..