Why So Many Luxury Apartments Are Popping Up In The U.S.

I am a Certified Apartment Maintenance Technician (CAMT), regulated by the National Apartment Association (NAA). I worked 15 years in the apartment industry and my last eight were in new construction and luxury homes & apartments. I had more problems with the new construction than I did 40 year old properties.

The older properties were built by developers that held on it to for 10+ years. The new properties were built to be sold. I worked for John R. Green Lofts in northern Kentucky, it was bought for a record breaking $62 million. All of the sewage pipes in the parking garage froze, ruptured, and backed up into the 4th floor apartments, which is the first floor for tenants on that side of the building. I was there past 11pm Christmas Eve and showed up Christmas Day after my kids opened their gifts in 2022.

The building was less than 2 years old and was already falling apart. I asked management....Greystar Properties, which is the largest provider of rental homes in America.....for assistance, telling them we needed a property manager in addition to a housing maintenance manager and I was promptly let go as I could not maintain both the rentals and the property itself.

Developers are not incentivized on build quality as the business model now is to fully rent it and sell it to the highest bidder. This leaves the new owner to discover all the issues. I would say it's like Ikea furniture, it looks good but don't touch it, don't move it, and don't get it wet. New construction is built out of MDF and hopes and dreams.

I bet you they sre not willing to discount the rent of the woman whose place got flooded by the dishwasher.

Thank the Democrats for pushing everyone out of the cities and into the suburbs where housing was limited. It just gives me a warm fuzzy feeling losing landmarks that I grew up with because they either were forced to go out of business or the owner got some big offer from a vulture land developer.

I think you’ll find similar in Canada.

Steel appliances and a pool makes things luxury all of a sudden.

Luxury?!?! WHAT LUXURY?!?! Are we in DUBAI

What's missing are condos. If people could buy these apartments instead of renting them, that would be fantastic. The government should push tax incentives so building companies have motivation to build to sell. That would create generational wealth as instead of renting your whole life, you can pass your condo/apartment to your family when you're gone from this world 😊😊😊 ( oh, and eventually you stop paying rent too of course)

stop the regulation on single family homes. Stop short term rentals

They'll never make it affordable as long as private equity owns so many single family homes

You should be allowed to pay your rent with your income before taxed.

You are renting music, movies, shows, vehicles, your home. What next? Your clothes?
You will own nothing, while the old farts (billionaires) own the clothes on your back.

Most of these apartments are just regular apartments they put a gym a pool and a lounge area and they call it a luxury apartment.

I worked a decade building apartments, condos and luxury real estate and the foundation materials used are all the same ( think wood , insulation etc ) and the luxury are the surface level things flooring lighting etc

Perhaps it’s just my friend group or maybe it’s everyone, but none of my friends are interested in renting these “luxury apartments” what we all want and need is more affordable single family homes.

Why not build a luxury apt complex? Everyone wants the best amenities and doesn't want to be homeless so it's a win win. The property owner gets to squeeze as much rent from renters and tenants get to not be on the street. If you actually looked at income and expense ratios you'd see that most people in luxury properties meet the minimum income threshold but aren't being smart with their spending. Rent consumes a massive portion of their take home.

I ve seen the rise in chicago suburbs. After the pandemic office complexs are now apartments. Also dead malls have build apartments in the parking lot space.

Apartment is a waste of money buy a house. I lived in two luxury apartments. I want and need a house. Alot issues with apartments.

Developers grossly overuse the term “luxury” so I’d love to see how housing market analysts actually determine what is luxury housing and what isn’t.

Half of these “luxury” units were normally marketed in the mid-Aughts, but just recently got a new coat of paint and some better cabinets and are thus suddenly “luxury“. In the housing space luxury is a lot like the term hip with people if you’re calling yourself that you probably aren’t… Real luxury units have no need to market themselves as such. Their target clientele don’t need to be reached that way.

I am not too crazy but these houses seem like basic needs for people. Nothing too luxurious

Valued at 230 million, wanting to get 500+ million from renters

Just because 100+ people share a pool and gym. Does that make it luxury lol😅

Crazy how people don’t rent to own anymore. Savage of real estate developers to never let people iwn

Dang these developers are getting tax cuts to build these places and still charge so much 😢

It should be 90% ‘low income ‘and 10% luxury

Then they sit empty cause we broke.

TLDR

Poor people are still getting bent over, developers/landlords are still charging outrageous rent and labelling it as "affordable".

Americans are cooked. Why do they demand such huge units? Smaller units are less expensive.

🎉

The United States has long been a center for scientific discovery

I’m in complete disbelief right now!

I’m struggling to take this in!

I can't believe this is happening!

bunch of bs.

Trump's stance on international agreements led to diplomatic tensions

Definitely not living in DC regardless of what I can afford.

Better start regulating those HOAs

Baltimore is the worst in this area. Luxury is on everything. Thousands of row homes gone and in it's place are over priced apartments with cameras everywhere

The United States has a diverse population with many cultural influences

1 in 10 are actually luxury. Sort of like how every car company thinks they have luxury models now.

People are in debt can't buy houses

i mean who doesnt want a cozyapartment with a beautiful view

Let’s just copy the Europeans. They seem to be getting it right with durable housing, fast public transit, and mixed zones

The lady in the beginning speaks bad English.

The concept of luxury is a joke - it’s a facade of a “lifestyle” that never delivers. How do I know, I’ve lived in lots of these apartment developments and none of them have ever delivered.

High density housing is bad for society. If you can't afford to live in an area, then move to another area.

My stepdaughter lives in one. The rent is high and there are great amenities. However, the apartment is small and not that well built.

I used to work on many buildings that said luxury but the work done inside those apartments were horrible

I would not want to be a young person starting out in this country today

Why does every "modern" apartment in America look like a staged hotel? There is NO CHARM, NO ORIGINALITY, and NO DISTINCTION. Everything in the apartment is tacky, cheaply-made, builder's-grade materials. The inside of apartments today lack warmth and familiarity.Then, the developer has the absolute nerve to charge sky-high prices for them. Renters want to feel like they're at home too! You get the bill and the rent is $3000 and up a month for four plain walls and a box. You pay all of this money just to feel like you're in an all-white insane asylum or the long-forgotten basement of a school.