Rents heading up in '06

[Judi Lynn]

Rents heading up in '06
Apartments may get significantly more expensive to rent this year.
By Les Christie, CNNMoney.com staff writer
April 21, 2006: 12:36 PM EDT

NEW YORK (CNNMoney.com) - Apartment rents are headed up in 2006.

After a few years of little movement, residential rents are expected to climb substantially, even as home prices may finally be plateauing.

"This will be a good year for landlords," says Greg Willett, vice president for research and analysis at M/PF YieldStar, a consulting firm serving the multi-housing industry. "There will be rent growth as vacancy rates come down. Landlords feel comfortable enough now to start raising rents again."

According to Willett, whose firm tracks 57 markets, rents will likely rise between 5 percent and 6 percent in 2006.

Several factors are contributing to landlord optimism, but what they all boil down to is that more Americans are being driven into the apartment market due to the increased expense of home ownership.
(snip/...)

http://money.cnn.com/2006/04/18/real_estate/apartment_rents_head_higher/index.htm?cnn=yes

[babylonsister]

1. Gas up-check. Rents up-check.

Minimum wage up-errr, not. What a pitiful picture this is. Who's building the food kitchens and poor houses?

[ixion]

2. who's building the concentration camps? why, KBR and Haliburton

of course. :grr:

[dysfunctional press]

3. we're raising the rent on our unit.

heat's included, and the price of natural gas is killing us.

[cantstandbush]

4. Going to hit the poor, elderly, and working poor the hardest!

Republicans believe in no kinds of controls...no rent controls, no utilities controls...etc.

[catmandu57]

5. I'd add foreclosure to the list

People who will be caught between a rock and a hard place this year, forced out of their homes and into the rental market.

[noonwitch]

6. My interest rates are dropping, though

only because of the timing. It's been five years since I bought the house. I didn't have the greatest credit then, but the deal was if I made all my payments for the first 5 years, my interest rate would get lowered. I got the notice over the weekend that it's going down on 7-1-06!

I have great credit, now, too. Buying a house was the best thing I ever did for my finances. It made me be responsible about my money.

[jmm]

7. Locked

Per the Late Breaking News posting rules please do not post news that is more than 12 hours old. This article is five days old.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x87249

-jmm
LBN moderator