"Make no mistake: Despite this recent slowdown in rental appreciation, the rental affordability crisis we've been enduring for the past few years shows no signs of easing, especially as income growth remains weak. It will take a lot more supply, and a lot more renters-turned-homeowners, to fully reverse this.”
“Rents and home prices are expected to exceed income growth into next year because of the insufficient creation of new home construction and the detrimental impact its inadequacy continues to have on housing costs in several markets.”
"We know rents are rising faster than incomes, and now we have data to show that many renters don't have enough to pay all their debts each month, which is forcing them to make tradeoffs, such as cutting spending on other items.”
“The primary reasons cited for the latest rises were increasing demand and low inventory. Vacancy rates for rental housing nationally dropped to a 20-year low of 6.8 percent in the second quarter…Rents and occupancies are currently hovering at historic highs as supply isn't keeping up with demand.”
"If you are one of the many renters debating a Lake Norman regional home purchase reach out to me. I would be happy to explain your options, before your rent goes up! " - Bill Schohr, cell/text 704-464-2199, email WBSchohr@gmail.com Please like my Inside Lake Norman Real Estate on Facebook
Author:Kelly Meyer Phone: 704-819-2774 Dated: December 2nd 2015 Views: 240 About Kelly: ...
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