What does the housing market mean to renters?
If you’re a renter, this blog post is for you.
You’ve grown accustomed to the annual rate hikes, and in the midst of a housing market seeing foreclosures and short sale owners leave their homes for apartment life, landlords are now realizing a higher demand.
MSNBC wrote an article on how the current housing environment has affected the renting community:
No one likes seeing the rent rise — but for renters, increases are often a fact of life. And even with the current rent hikes, rental rates in most markets haven’t even returned to prior highs set in 2007 and 2008, according to Willett.
“I think consumers have been taught to think the rent goes up every year, and generally it does,” says Willett. “But it’s the degree of increase that can bother renters. You look at the increase and you make that decision whether or not to move every time the lease comes up. If you’re renting now and you’ve just renewed for 12 months, you’ve probably got one more round of increases before things stabilize.”
Read the article in its entirety and contact us today to discuss how you can make the jump from renter, to owner.
