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(Business Insider)   And the winner of this year's "Most Expensive Place in the US to Rent an Apartment" award goes to: Not so fast, New York and San Francisco... Williston, North Dakota, step up and claim your prize   ( businessinsider.com) divider line
    More: Amusing, San Francisco, North Dakota, New York, apartments  
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9386 clicks; posted to Main » on 14 Feb 2014 at 5:29 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-02-14 05:44:01 PM  
3 votes:

FilmBELOH20: dletter: This is the "oil boom" town I believe, so, I take it that this is just because there are so few apartments available, and all of a sudden an influx of people desperately needing apartments to live in.

/Supply and demand even works in places you wouldn't expect folks.

Half correct.  It is the oil boom town, but this isn't because of so few apartments available.  There have been several hundred apartments going up all over Williston and the surrounding area.  Housing is way easier to find.  Man-camps are emptying out, and they've catered a lot of the new apartment complexes to wealthy oil execs and well-to-do roughnecks.  They have laundry services, maid service, etc.  Very much like a hotel, except... not.  Newer single family homes in Williston are going for $600k.  It's nuts what people are paying because they will never, ever see their money back.  This isn't about supply and demand, it's about greed and stupidity.


How long until it's a ghost town? 15, 20 years?
2014-02-14 05:36:14 PM  
3 votes:

dletter: This is the "oil boom" town I believe, so, I take it that this is just because there are so few apartments available, and all of a sudden an influx of people desperately needing apartments to live in.

/Supply and demand even works in places you wouldn't expect folks.


Half correct.  It is the oil boom town, but this isn't because of so few apartments available.  There have been several hundred apartments going up all over Williston and the surrounding area.  Housing is way easier to find.  Man-camps are emptying out, and they've catered a lot of the new apartment complexes to wealthy oil execs and well-to-do roughnecks.  They have laundry services, maid service, etc.  Very much like a hotel, except... not.  Newer single family homes in Williston are going for $600k.  It's nuts what people are paying because they will never, ever see their money back.  This isn't about supply and demand, it's about greed and stupidity.
2014-02-14 05:13:29 PM  
3 votes:
This is the "oil boom" town I believe, so, I take it that this is just because there are so few apartments available, and all of a sudden an influx of people desperately needing apartments to live in.

/Supply and demand even works in places you wouldn't expect folks.
2014-02-14 05:47:11 PM  
2 votes:
I should drive up there with two bags of grass, seventy-five pellets of mescaline, five sheets of high powered blotter acid, a salt shaker half full of cocaine, and a whole galaxy of multi-colored uppers, downers, screamers, laughers... and also a quart of tequila, a quart of rum, a case of Budweiser, a pint of raw ether and two dozen amyls.

I'd make a fortune. I bet those dudes are DESPERATE.
2014-02-14 05:46:33 PM  
2 votes:
My brother just got back (we are in Mn)  Said it is like the wild west. Safety take a backseat to profits. people get hurt , no one cares, ten guys are waiting to take your place.  He had to just about kick the crap out of his employer to get paid. 80 hr weeks are the norm   Not usually
a fan of govt regulations but OSHA what the frack?
2014-02-14 05:45:05 PM  
2 votes:
hey, what a second... the article said it looked at every town in the US.  but then, I couldn't find new york city.  Instead:

7. New York-Northern New Jersey-Long Island, NY-NJ-PA  ($1,504)

including apartment prices from northern new jersey will likely bring down the average rent.  it should be New York City.  or better, each borough.  i don't care how many people live in new jersey and commute, new jersey is not new york city.
2014-02-14 05:41:21 PM  
2 votes:
that san francisco number includes surrounding areas which are much cheaper. an 'entry level' apartment in the city itself is on average closer to 2500+.
2014-02-14 05:39:45 PM  
2 votes:

darwinpolice: dletter: This is the "oil boom" town I believe, so, I take it that this is just because there are so few apartments available, and all of a sudden an influx of people desperately needing apartments to live in.

/Supply and demand even works in places you wouldn't expect folks.

That's exactly right.  It's a fracking boom town, and construction companies aren't able to build fast enough to meet oil/gas worker demand.

If I recall correctly, this town is actually having a problem with too little unemployment.  There are so many relatively lucrative jobs with the energy companies that there's practically no one left to work the restaurants and shopping centers.


I come from NEPA, right in the center of that fracking boom, basically. I was in Philly at college at the time, but a lot of my friends that stuck around ended up living with their folks due to the ridiculously high rents and straight up scarcity. The people who did have apartments were forced out when their landlords decided they wanted in on that sweet, sweet gas cash. Now there is a big debate going back and forth about building new low-income housing.

The boom did end up helping my parents out, though. They decided to get out of dodge. Listed their house on a Thursday IIRC, and was sold at their asking price by the following Monday.
2014-02-14 06:06:02 PM  
1 vote:

grinding_journalist: I should drive up there with two bags of grass, seventy-five pellets of mescaline, five sheets of high powered blotter acid, a salt shaker half full of cocaine, and a whole galaxy of multi-colored uppers, downers, screamers, laughers... and also a quart of tequila, a quart of rum, a case of Budweiser, a pint of raw ether and two dozen amyls.

I'd make a fortune. I bet those dudes are DESPERATE.


As your lawyer,
I would advise against it.
2014-02-14 05:44:01 PM  
1 vote:
They bunched up NYC with "New York-Northern New Jersey-Long Island, NY-NJ-PA".

I dare anyone to find a decent apartment in or near Manhattan for $1,504/mo.
2014-02-14 05:43:25 PM  
1 vote:

darwinpolice: dletter: This is the "oil boom" town I believe, so, I take it that this is just because there are so few apartments available, and all of a sudden an influx of people desperately needing apartments to live in.

/Supply and demand even works in places you wouldn't expect folks.

That's exactly right.  It's a fracking boom town, and construction companies aren't able to build fast enough to meet oil/gas worker demand.

If I recall correctly, this town is actually having a problem with too little unemployment.  There are so many relatively lucrative jobs with the energy companies that there's practically no one left to work the restaurants and shopping centers.


Not to mention what the local police and fire departments are all of a sudden having to deal with (massive increases in prostitution, drugs, vandalism, theft, robbery, assault, rape) while being severely under-staffed and under-funded. Think Abilene, KS during the cattle drive boom days, *without* being allowed to simply get away with shooting the miscreants dead in the street or beating them to a bloody pulp to "send the message" that the local lawmen frown on your activities.
2014-02-14 05:36:54 PM  
1 vote:
so stupid.
buy an atco move it there.  they freakin sleep  up to 24 people.
2014-02-14 05:31:20 PM  
1 vote:
To be fair, it's the only apartment in the state of North Dakota
 
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