Posted on 08/24/2005 9:18:51 PM PDT by Plutarch
Rents are rising again across the country, squeezing tenants who are already coping with high gasoline prices and improving returns to landlords after a deep five-year slump.
The turnaround appears to be another sign that the boom in house prices and sales is finally slowing, as homes have become so expensive in many metropolitan areas that some people have decided to rent instead.
A government report yesterday also offered new evidence that the housing boom could be reaching a peak. The median price of a newly built home fell to $203,800 in July from $219,500 in June, after having risen in the winter and spring, the Commerce Department said.
(Excerpt) Read more at nytimes.com ...
Californians have been going nuts here in Boise buying up property for rental purposes. Now there is a glut. Too bad for them.
Bad read. If prices are accelerating away from rents, home sales are booming, if rents are catching up to prices, the boom is waning. This article is suggesting that the boom is waning, not that it is booming no matter what.
The world is either more complicated than can be expressed in a few graphs or there is no housing bubble.
You pays your money and takes your chance.
ping
Ho hum...
Bad News yesterday: HOUSES UNAFFORDABLE! [rents decline]
Bad News today: "RENTS UNAFFORDABLE! [home prices decline]
The MSM must be hiring teen-agers to write this stuff...
Ho hum...
Bad News yesterday: HOUSES UNAFFORDABLE! [rents decline]
Bad News today: "RENTS UNAFFORDABLE! [home prices decline]
The MSM must be hiring teen-agers to write this stuff...
bumperooonie
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