If nothing changes, I expect rents to skyrocket in the near future.
Interest rates have increased massively. This has meant a collapse in house sales. The last time something like this happened, it drove a lot of people out of ownership entirely. Guess where people who don't own their homes go? They head into the rental market. Meanwhile, housing starts are way down. So there's going to be a growing population, fewer people able to buy, and more people renting.
It's basic economics, rents will go up.
There is precedent for this. After the 2008 housing crash, rents skyrocketed as well for the exact same reasons.
Interest rates have increased massively. This has meant a collapse in house sales. The last time something like this happened, it drove a lot of people out of ownership entirely. Guess where people who don't own their homes go? They head into the rental market. Meanwhile, housing starts are way down. So there's going to be a growing population, fewer people able to buy, and more people renting.
It's basic economics, rents will go up.
There is precedent for this. After the 2008 housing crash, rents skyrocketed as well for the exact same reasons.
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