Job losses have triggered a rental slowdown as many renters are recruiting roommates or turning to the guest rooms of friends and family. Reduced occupancy has prevented landlords from raising rents, and in many areas rents have fallen or remain stagnant.
Rental markets are slowing in places that weren't particularly impacted by the housing crisis. The most obvious slowdowns are in places that have big job-loss trends like Charlotte, NC and Atlanta, GA. Rents are up in cities where job growth has been steady, like Houston, the number-one city to earn a living.
Calvin Klein
Miriam Ocariz
John Lewis
I wish the rent would stop going up in NYC.
1Same in the bay area. My rent was gonna go up $200/mo. so my hubby and I just decided to buy a house instead. For what they want to charge, a mortgage was only a little bit more!
2its funny - i rent out my house in Florida now that i've moved to NYC and well - i had to search for a new tenant recently and my realtor told me that i should try to reduce my rent since the market was going crazy even for rentals and i told her that i didn't think that it was necessary and that i really needed to keep it as is since i have a mortgage to pay. at least i've managed to keep it flat although it would have been GREAT to raise it a bit. oh well..beggars can't be choosers right?
3I've been looking for another apartment in NYC, and I noticed that the places in Brooklyn that are typically extra costly, are not as high as they used to be.
4I thought I would try looking at different rentals in my area but they are still going for the same. They aren't reducing at all. The only bway I can get a reduction in rent is to downsize and while I would love to, I can't.
And with the housing market the way it is I'm desperately afraid that my landlord may have trouble keeping up his house payments and it could affect me & my family.
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