Search This Blog

Thursday, March 17, 2011

The New American 'Dream'-- renting

So, what happens when people aren't buying homes because they are too expensive, they are unable to get approved for mortgages and/or the banks are Too greedy in their fees, hidden costs and loan terms to make getting a mortgage possible?

Why, they rent of course...

And what happens when the need and demand for rentals increase?

Yep.. the cost to rent goes up, Up, UP...

Double-digit rent rise is coming to the housing market (CNN-Money) -- "Expect rent to spike 7% or so in each of the next two years -- to a national average that will top $800 per month. In the hottest rental markets, the increases will likely top the 10% mark annually for the next couple of years, according to Lesley Deutch of John Burns Real Estate Consulting. In San Diego, she anticipates rents will rise more than 31% by 2015. In Seattle rents will climb 29% over that period; and in Boston, they may jump between 25% and 30%."

Gotta love capitalism.. 

Looks like the newest trend of the 2010's will be to either keep living with parents until you turns 45, or live on the streets

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.