Ventura County Star’s Post

Single-family homes have become prohibitively expensive for new buyers, and yet, renting is costly as well. 😒 In Fresno, CA, rent rates have surged by 39% since 2017, with the average one-bedroom apartment now exceeding $1,500. While these rates are only a fraction of those in the Bay Area, they are significant relative to local incomes, leaving many low-income renters in a vulnerable state. The article highlights a distressing situation many low-income renters are facing. Take a look: https://lnkd.in/gMKNp4Ms

Rent rates continue to ease up ... Tampa Bay rents are down 2.5% which is good news for renters and a reality check for landlords /// For all your real estate needs #Realtor #ResidentialRealEstate #CommercialRealEstate #InvestmentProperties #TampaBay #TampaRealEstateAgent

"New" rents are calming, but once everyone understands what "rent stabilization" is, they will soon be raising existing rents very aggressively. Current rents have been ahead of new rents for some months now......the ONS is the one true source on this stuff. New rents is the leading indicator and current rents is the lagging one. https://lnkd.in/egDMzsGZ

Here’s a story that illustrates why I’m opposed to rent caps like the one in the city of St. Paul: Rent caps deter builders. When building stops, housing becomes scarce, which would normally cause an increase in rent. But that doesn’t happen because of the rent cap… As housing becomes scarce, higher-earning individuals move to cities with more availability, leaving lower-income families left to battle it out for the few remaining units left. If inflation increases by a percentage that exceeds the rent cap, property owners can’t afford to fix and maintain the properties and units. The minimal housing that’s available loses its value due to a lack of maintenance and inability to generate income for its owners. The building is foreclosed on. Housing becomes even more scarce, and families who can’t afford to move are left without a home. Rent caps may protect renters in the short run, but they are not a long-term solution to affordable housing issues. #MinnesotaRealEstate #RentCap #TwinCitiesRealEstate

An unaffordable housing market is keeping rental demand high, inspite of two-decade plus record apartment deliveries. "Elevated levels of new supply are weighing on rents in many metros at the moment, but apartment REITs — which set the pace for the rental market in many wealthy and growing metro areas — are seeing some unexpected offsets. The upshot of their commentary suggests that by the time tamer readings of shelter inflation allow the Federal Reserve to consider cutting interest rates, real-time rent increases should actually make them question whether easing policy is the right idea." "The most significant unexpected dynamic supporting apartment demand — and hence occupancy and rents — that executives called out was the sharp drop in the number of people leaving rental apartments to move into homes they have bought. Coastal powerhouse AvalonBay Communities Inc. reported a record-low 7% turnover due to homebuying, compared with their long-term average of 16% to 17%. Essex Property Trust Inc. put the number at 5%, also a record low, versus their longer-term average of 12%." "Continued strong job growth is another dynamic that’s allowing the apartment market to weather the flood of supply hitting some parts of the country such as Phoenix and Austin in the Sun Belt. In the first four months of 2024, the US added almost 250,000 jobs per month, defying economists’ expectations for weaker numbers. And in general, job growth equals apartment demand growth. Coastal markets don’t have nearly as much supply being delivered, and the impact is already apparent. Equity Residential Property Trust, which like AvalonBay has a large coastal presence, noted that Seattle and San Francisco have both been performing better than was expected earlier this year. Executives pointed to the boost from artificial intelligence to the labor market, return-to-office mandates, and a perceived improvement in local governance that has led to more confidence in downtown areas." https://lnkd.in/g9STFK2b

Connecticut's Rental Market: A Step Toward Affordability? As rent growth slows in parts of Connecticut, housing advocates stress that affordability remains out of reach for many. Despite a surge in new apartment construction, the state still needs 98,000+ affordable units to meet demand. A recent article in Hearst Media CT publications highlights the following: - Hartford Area: 29% of rentals now offer landlord concessions, the most since 2021. - Stamford-Bridgeport Corridor: Slight rent decreases have been reported recently, but Fairfield County rents have soared 37%+ in three years. - Statewide Ranking: CT renters pay 34% of their income for a 2-bedroom, tying for 3rd highest in the U.S. alongside MA & CA. What’s Next? State leaders are exploring solutions like tax credits, affordable housing incentives, and innovative policies to address this crisis. In the article, David Rich of the Housing Collective explains, "This is a long game, but changing hearts and minds is key to unlocking solutions. #AffordableHousing #ConnecticutRents #HousingCrisis #RealEstate #CTHousing

Over the last four years, rents in the West have climbed from an average rate of $1,831 in February 2020 to $2,204 in February 2024 – an increase of about 20%, according to data from RealPage Market Analytics. That is by far the slowest rate of growth nationwide. Meanwhile, rents in the South, Midwest and Northeast have climbed approximately 29% since February 2020. Nationwide, apartment rents have climbed 25.5% in the four-year period since February 2020 to stand at an average rate of $1,806 as of February 2024

https://lnkd.in/enzm8FCq many small landlords are selling up due to the new rental act which will cause a huge shortage of properties available to rent and send rents sky high. Of course the huge landlords have encourage the government to do this as it means more profits for them but it is at the expense of those needing to rent somewhere. The consequences of their actions never seem to be considered by Labour. #property #propertyexpert #rents #homesearch #propertyfinder #buyingagent

Connecticut's Rental Market: A Step Toward Affordability? As rent growth slows in parts of Connecticut, housing advocates stress that affordability remains out of reach for many. Despite a surge in new apartment construction, the state still needs 98,000+ affordable units to meet demand. A recent article in Hearst Media CT publications highlights the following: - Hartford Area: 29% of rentals now offer landlord concessions, the most since 2021. - Stamford-Bridgeport Corridor: Slight rent decreases have been reported recently, but Fairfield County rents have soared 37%+ in three years. - Statewide Ranking: CT renters pay 34% of their income for a 2-bedroom, tying for 3rd highest in the U.S. alongside MA & CA. What’s Next? State leaders are exploring solutions like tax credits, affordable housing incentives, and innovative policies to address this crisis. In the article, David Rich of the Housing Collective explains, "This is a long game, but changing hearts and minds is key to unlocking solutions. #AffordableHousing #ConnecticutRents #HousingCrisis #RealEstate #CTHousing

Connecticut's Rental Market: A Step Toward Affordability? As rent growth slows in parts of Connecticut, housing advocates stress that affordability remains out of reach for many. Despite a surge in new apartment construction, the state still needs 98,000+ affordable units to meet demand. A recent article in Hearst Media CT publications highlights the following: - Hartford Area: 29% of rentals now offer landlord concessions, the most since 2021. - Stamford-Bridgeport Corridor: Slight rent decreases have been reported recently, but Fairfield County rents have soared 37%+ in three years. - Statewide Ranking: CT renters pay 34% of their income for a 2-bedroom, tying for 3rd highest in the U.S. alongside MA & CA. What’s Next? State leaders are exploring solutions like tax credits, affordable housing incentives, and innovative policies to address this crisis. In the article, David Rich of the Housing Collective explains, "This is a long game, but changing hearts and minds is key to unlocking solutions. #AffordableHousing #ConnecticutRents #HousingCrisis #RealEstate #CTHousing