Rental Market Tracker: Rents Drop to Lowest Level in a Year
www.redfin.com
The median U.S. asking rent posted its smallest annual gain since May 2021 as landlords grappled with rising vacancies.

"landlords grapple with vacancies" NOOOOOOO, won't someone think of the heck'in landlordorinos??? :rage-cry:

Before you get your hopes too high, rents are still way up from pre-covid and depending on where you live in the USA your local rents could have actually kept increasing. It might take a full blown recession to see prices go back to a somewhat sane level.

My local median rent is over $2k and I make $15/hr haha. :mao-shining:

  • OgdenTO [he/him]
    ·
    2 years ago

    Is this a reaction to lower house buying prices due to increase in interest rates?

    Increase in interest rates might lower housing costs in the short term, but it ultimately makes ownership more difficult as mortgage payments increase. All it does is entrench ownership to the rich.

    This is going to make more renters, which will start to increase rents again due to increased demand. But I hope not.