Unfortunately we are in a Land Lord’s Market, but it doesn’t have to be that way!

Rents rise at hottest pace in six years

 

Shades

 

 

Rising Rent

WASHINGTON (MarketWatch) — Landlords have ramped up rents by the fastest pace in six years, with national vacancy rates the lowest in two decades, according to government data.
Annual rent inflation hit 3.5% in November — the hottest growth since November 2008 — up from 3.3% in October, the Bureau of Labor Statistics reported Wednesday. Rents blew past total annual consumer inflation, which rose just 1.3% in November, hit by dropping gas prices.
Rental vacancy rates have fallen to 20-year lows,” Ted Wieseman, an economist at Morgan Stanley, wrote in a research note.
The share of rentals that are vacant fell to 7.4% in the third quarter, the narrowest proportion since early 1995, according to separate data from the U.S. Census Bureau.

Vacancy Rates
Rents are heating up in response to demand from families across the U.S. who either don’t want to buy their own home or can’t afford to do so. Seeing an opportunity, builders have ramped up apartment construction. But a growing supply of rentals may struggle to keep pace with demand, and economists expect rents to continue to climb quickly.
In 2015 the “landlord’s market” will live on as rent growth for U.S. apartment dwellers runs hotter than overall inflation, the National Association of Realtors recently forecast. Markets such as California’s Orange County and Sacramento have particularly low rental vacancy rates, while it’s easier to find a place in Memphis, Tenn. and Raleigh-Durham, N.C.

Solution:

People need to realize the position they are posed to be in the next 5 years. As more and more people believe they are unable to attain a Home Loan puts them out of the possibility of attaining Middle Class Status. I believe this is one of the major factors to the American Loss of Middle Class, which consequently puts most out of attaining The American Dream. We Realtor’s need to educate everyone we come in contact with to explain some of the thousands of programs out there that can put almost anyone who truly wants Home Ownership, into homes of their own. It’s What I Do…!

Contact me and I will show you how.

 

Ronald Davis..

 

1# in Negotiations..   Best Broker for the Job..!

Ronald Davis                                    Professional Broker Services
.
Ronald.Davis@ExpRealty.com
.
WEB BellinghamLocalRealEstate.com

 

 

Bellingham Local Real Estate

 

 

 

 

Published earlier by By Ruth Mantell