As a broker, the applicant always suspects that we are in the business of price gauging to improve our commissions… Well, it just ain’t so! This is the Real report from market experts Marcus & Millichap and the Wall Street Journal confirms it!!!
As we’ve written, the rental market is thriving as millions of Americans — many of them burned by the housing crash — opt to rent homes instead of buy them. This comes as little new supply has been added the market, creating a sweet spot for landlords who are raising rents
*With so few apartments up for grabs, rents could grow by a 4.8%.
Should it weaken further, renters could double up with roommates or move in with mom and dad. And if landlords raise rents too much, they risk pushing the tenants to buy low-priced homes.
Dawn Wotapka.
I have seen many high end buyers turn to renting in some of the NEW luxury condos that didn’t sell. Now they can enjoy the good lifestyle with a MUCH lower ticket price!!!
mswanson@bondnewyork.com
