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Rent Smarter, Not Longer
Posted
January 18, 2023
Views
12
January 18, 2023
12
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1:03Now PlayingApartment rents are finally starting to go down, and some say there's gonna be a hard landing for the industry. Apartment rents went down in America in the last quarter of 2022. And new lease demand is down for the first time since the great recession in 2009. vacancies are going up, and the boom in apartment rentals is largely over.
Well, what's happening? Well, rents went up way too fast, and millennials like me are ready to buy homes. We're tired of renting and paying huge amounts of our income for apartments in big cities. We're headed for low-tax states, far-flung suburbs, and wherever we can get a break on housing.
Let's face it: renting forever is not attractive for anyone. What does this mean for 2023? Well, me personally, I'm not signing a full-year lease because I see prices either flatlining or declining. And this is great news for all of us, except those of us who own rental properties. All of you are headed for a rough ride.
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