Crazy Year-over-Year Housing increases

[SunDevil]

So I got the quote today from lady that manages the same place we've stayed at the last 2 years. They want literally double what we paid only 2 years ago (2010) and 50% more than what we paid last year (2011).

Out of curiosity, has anyone else experienced this? This will be my 6th Coachella and it seems every new year the housing rental market just skyrockets from the past year.

What's going on here, any theories? Is it attributable to the increased ticket sales or have local homeowners wised-up to what the true demand is?

Also, has anyone else noticed the associated fees and deposits have skyrocketed as well? The place we normally stay wants a $1000 deposit upon booking to secure the room. Two years ago we paid $250. Cleaning fees have also tripled from 3 years ago. I wonder if Coachella goers are getting a reputation around town for being flaky and dirty....

[Courtney]

Yes, I have noticed this. I would assume that it's just the market finding its new equilibrium. Home owners are going to charge as much as they can, and clearly there are people out there who are willing to pay it.

[Stickjohn]

They get another weekend this year too.

[baily]

supply and demand

[WhyTheLongFace]

Well in 2010 they didn't expect it to sell out.
In 2011 they didn't expect it to sell out so fast and have car camping sell out in 5 minutes leaving so many people abandoned.
Now they think the same thing plus an extra weekend $$$ people need a place to stay man. No one wants that 2 hour drive everyday

[Drinkey McDrinkerstein]

Is it attributable to the increased ticket sales or have local homeowners wised-up to what the true demand is?

This sounds like the same thing.

It's just people realizing that they could pretty much charge whatever they want. If it gets closer to the fest and they can't get their advertised price, they'll lower it. If they all rent for what they want, they'll try raising it again next year.

[JustSteve]

crazy to think you could possibly pay 6 months mortgage on your house by renting it out for 2 -3 weeks/weekends for the fests.

[Goatchella]

thats why five years ago you rent or stay in hotels...now adays ya gotta wook it.

pros of camping -non stop party

cons of camping -horse doo doo powder in your lines

[flowbee]

I've charged a flat $150/room for the entire weekend since 08', keeping it the same this year. I do it for the positive vibes, cover some basic expenses, not much for profit obviously