Imagine my shock to learn that my rent, should I renew my lease, would be going up by $600 a month. My daughter's rent is going up by $500 a month. Two years ago, North Carolina ended a law that capped the amount a person's rent could increase at lease renewal time and landlords - most of them corporate - are taking full advantage of it. Rents around my area are escalating dramatically as large technology companies move to the vicinity.

People from New York or from Silicone Valley will see the inflated prices and find them a bargain. Meanwhile, people who have lived in this area for a decade are suddenly priced completely out of the market. When their leases come due, they'll have to house hunt further away. This will still cost them more because of the cost of their commute. More cars will be on the road, making that commute take longer and even more miserable.

My daughter and her boyfriend have no option - he's getting his Ph.D. and must stay local to do so. There are lots of people in that position, and things are going to be very difficult for them, particularly if their budgets were already tight. I'm absolutely not renewing my lease and will be taking this opportunity to put things in storage and do some traveling. Why would I possibly pay that much more for the same place I've lived for 2 years, with no improvements to make it worth more?

This kind of thing is just going to pile on to the economic crisis, and those who are hardest hit are the people who are already living paycheck to paycheck. Given that Google, Twitter, Facebook, and Amazon are all laying people off, I'd be really concerned about relocating and signing a lease for an outrageously expensive apartment to take a job in technology. Because what happens if you move to North Carolina, grab a $2500-a-month place, and then get canned? They'll be in the same situation as those people who are having to move out of the area currently.

It's a perfect example of one thing completely changing a local economy. Anyone catering to these Big Tech companies will do well - at least for a time. Anyone not involved in that business will get painfully screwed by the situation. I foresee a lot of empty apartments soon and a lot more economic strife.

This is just a glimpse into a small, local issue, but I'm sure similar things are occurring everywhere. Lifestyles will change, and probably not for the better. If you're a renter, be prepared for potential changes.