Posted on 04/10/2024 7:12:35 AM PDT by ChicagoConservative27
Median rent in the U.S. rose for the third consecutive month in March, up 0.8 percent from a year ago to $1,987, according to a new report from real estate company Redfin.
While rents had decreased nationally during the preceding three-month period, rental prices have started to tick up again, as has inflation.
Redfin pointed to high mortgage rates — driven by high borrowing costs set by a committee of Federal Reserve officials — as a contributing factor. More people are putting off buying a home and opting to rent, driving up demand for rental units.
(Excerpt) Read more at thehill.com ...
Build more housing
LANDLORDS HAD NO RAISES UNDER COVID....
WHAT ARE PEOPLE EXPECTING NOW??????
rents will be going up a TON over the coming year or two. They have to catch up to the prices of purchasing, which is going to take awhile.
Renting has to cost more than buying, otherwise it would be a stupid investment from a landlord perspective. But you can only raise rents so fast with people being locked in on leases, etc. But eventually rents will adjust (in this case upwards)
It is a failed concept that cities can “build” new affordable housing. New always cost MORE.
If you want more affordable housing stop red-tagging old homes, and stop selling homes the city has repossessed to investors and instead limit sales of those old homes to 1st time home buyers.
I had to raise rent on my property due to property taxes
Property taxes
How the hell am I supposed to “own nothing and be happy” when the @#$%^& RENT on everything keeps going up??!?
My shop rent has gone up 20% each of the past two years. If I didn’t have hundreds of thousands of pounds of machinery I would just let it go.
I remember back in the early 80’s renting a place that had a yard and seperate garage and 2 small bedrooms, large living room connected to dining room and a large kitchen and a basement. $275 a month.
Bears roar! :-D
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