Tuesday, April 22, 2008
Rising Rents - Just as I Predicted
Here's another side effect to the foreclosure crisis -- the cost of rentals is rising. Check an AOL article here. As more people lose their homes and have to rent, and as more renters wait for home prices to drop, rental unit inventory drops and rental rates rise. The statistics are frightening: a prediction of 5% rise overall, with some markets, like San Francisco, going up much, much more.