Posted on 02/16/2022 4:40:57 AM PST by Browns Ultra Fan
Call this a double whammy! Red-hot rents combined with a slowing economy.
According to CoreLogic, single-family annual rent growth finished 2021 at a new record: 11.7% YoY for high tier rental properties and 10.4% YoY for low tier rental properties.
Of course, southern and southwest rental properties are seeing the fastest rent growth. Particularly Miami.
Inflation is really ripping the insides out of America’s working class. Especially with real-time GDP slowing to 0.7%.
Double whammy, indeed!
(Excerpt) Read more at confoundedinterest.net ...
Hitting Seniors hardest.
Very much planned, a managed decline did not work, they have gone for a forced, accelerated decline.
Hi.
I’ve seen this movie before.
Hopefully it has the same ending.
5.56mm
This was caused by government. And government is going to propose a “solution” that makes everything much worse. They will take money from those who earn it and give it to those who wail and moan about being “poor.”
At no point will the “poor,” who rake in 30-40,000 worth of benefits each year, ever be considered as middle class, while the wage earners who make 40,000 and have half of it taken by the government are considered as “well off.”
Rents are up 35% in NYC.
They’re doing this on purpose. Government will have to take over housing. Our banking system will collapse and an international monetary system will be established.
I’ll be surprised if we even have an election in 2022.
Republican politicians have contributed to this mess just as much as Dems.
I worry about my 80 year old parents. I am a geezer in my 60’s who thought about retiring in a few years, but won’t now due to inflation fears.
My cousin lives in a small (15,000ish) city in the Rockies, the last place you would expect to be a destination for refugees from the religion which cannot be criticized.
Her neighbors were such people living on the government dime who took advantage of the rent moratorium not to pay their landlord even though they had no change in their amount and source of income. It actually went up with the WuFlu payments.
Their landlord is an elderly man with MS who built the unit with the idea of generating rental income. So he is not a rich man by any means and FINALLY gets to evict them for well over a year of rent non-payment. His new tenants will be a retired couple that respects the local culture.
And those recently graduated.
(yes, dripping sarcasm)
Good! Embrace the suck.
When you allow people to live rent free for over a year, it does not take a PHd to know the rents will go up.
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