Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 12/02/2025 6:58:16 AM PST by CFW
Key Points:
The national median rent for apartments fell 1% in November from October, and now stands at $1,367, according to Apartment List.
The national multifamily vacancy rate was 7.2% in November, a record high.
The historic surge in multifamily construction over the past few years is now pulling back, but a good supply of new units is still coming online at a time of much weaker demand.
A slew of new supply is still making its way through the multifamily housing market. That, coupled with weakening demand, especially from the youngest workers, is pushing vacancies up and rents down.
The national median rent for apartments fell 1% in November from October, and now stands at $1,367, according to Apartment List. It was the fourth consecutive month-over-month decline. Apartment rents are down 1.1% from November 2024 and have fallen 5.2% from their 2022 peak.
“Earlier this year, it appeared that annual growth was on track to flip positive for the first time since mid-2023; however, that rebound stalled out and reversed course during a particularly slow summer,” according to Apartment List researchers.
After hitting a record high for this index, which dates back to 2017, in October, the national multifamily vacancy rate remained at 7.2% in November.
The historic surge in multifamily construction over the past few years is now pulling back, but a good supply of new units is still coming online at a time of much weaker demand.
(Excerpt) Read more at cnbc.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Prices drop when there is less demand. There is less demand when you remove illegal aliens, whose rent is paid with our tax dollars, from the equation.
They have way overbuilt apartments in my area. Some property management companies are offering prospective tenants the choice of a free iPad or a Dyson Airwrap (fancy $400 hairdryer) if they pass a credit check for a year’s lease.
Yep. The rats at CNBC will not mention the removing of the illegals
The Taxpayer was probably paying the rent ,LOL
They have overbuilt in my area as well. They are just finishing up a 350 unit complex in an area that doesn’t have much demand (miles from the business and shopping centers). I assume the builders were depending on section 8 clientele, but that demand has dwindled greatly in the past few months.
Who would have thought deporting illegals would have resulted in such good outcomes?
This is interesting. After COVID, there was a massive move in most urban areas to convert office to residential. Regular banks did not fund it; private equity firms did. Now the builders are faced with the twin problems of the overbuilding preventing stabilization of the buildings and private equity firms whose loans are due and who are much more willing to take possession of the buildings and run them (as opposed to regular banks which are much more willing to work out and extend the loans).
1) There is also less demand when young adults live with their parents.
2) There is also less demand when 2 families double up and share the same apartment.
3)There is also less demand when the available units are not convenient to where the jobs are at.
4) And yes, deportation is a factor. In my experience #2 above is a higher than average source of #4.
Thank you President Trump. This will make rents more affordable for Americans.
I’m curious why you think Sec8 clientele has dwindled? Every source I find says that demand far exceeds the 8.n units available.
Surprise, surprise. Apartment rental prices drop when Trump removes 2 million illegals from the USA.
When Trump removes another 10 or 20 million illegals, folks will be complaining that housing is becoming TOO AFFORDABLE!!!!
Good point. Prolly true in many cases.
Wake me up when it gets to the 20-30% range. Only then will rent be affordable again. More and more, people can't afford anything in the $1300 range. Get it below $700-$800 then we'll talk.
Same here. Section 8 housing in my area of Indiana has at least a 2-3 year wait. It’s even longer in many other states.
> I assume the builders were depending on section 8 clientele <
The kiss of death. There’s a very large, older apartment complex near me. It was a great place for young couples just starting out, and for seniors looking to downsize.
Then the owner decided to accept Section 8 to fill the few vacant apartments.
The place is so bad now that the police actually have a substation on the property.
And of course no reasonable person would consider renting there.
I guess we’ll expect a price drop in luxury hotel rates soon as well.
Just wait as more illegals are removed the coming year and Section 8 is cut back. Housing is due a major fall in price.
My daughter lives in one of these “multi family” type buildings - they have a very small “shared” backyard and the people below them are constantly complaining about “stomping around” (my daughter weighs 100lbs., if that) - husband wears socks or slippers at home. And, there is a “home owner association” that is always trying to nickle and dime them.
They’re noq looking for a single family home with a private yard for the kids.
**Not mentioned in the article: “Deportations” or “Illegal Aliens”.**
**Yep. The rats at CNBC will not mention the removing of the illegals**
The good news-CNBC is REPORTING the news.,leaving it to us to interpret.
If there’s a shortage of housing they’ll be hay to interpret it ‘on our behalf’.
It’s never going to get that low. That would be like paying $150 -$200 for an apartment in 1990. My rent at a moderate 2 bedroom apartment in a medium size town was around $780 then.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.