Rising rents pushing lifelong renters to buy

The pressure of rising rents is pushing more people to consider homeownership, but not because they’re particularly interested in becoming a property owner. Rather, it’s being seen as a way of reducing their living expenses. The Wall Street Journal reported that average monthly rents rose more than 14% year-over-year in December. Some cities, including Austin,

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Single-family rents grew by double-digits in September

Rental prices are going through the roof. The median rent for a single-family home in the U.S. jumped 10.2% in September compared to one year ago, having previously risen by just 2.6% from 2019 to 2020. That’s according to a new report from the real estate industry analytics firm CoreLogic, which blames the rapid rent

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Americans spent $4.5 trillion on rental costs this decade

Renters in the U.S. spent a cumulative $4.5 trillion on rent during the 2010s, according to a new Zillow analysis. That’s more than the GDP of Germany or the combined market values of Apple, Microsoft, Amazon and Alphabet. In 2019 alone, renters spent more than $512 billion on housing – the most of any year

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Fears of oversupply in student housing sector

Student housing construction is booming with developers adding “tens of thousands” of new units each year, but experts say the market could be in trouble from oversupply as many beds remain vacant. A report in the National Real Estate Investors notes that student housing developers opened 47,000 new beds in or around college campuses in

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Relief for renters as market returns to more ‘normal’ conditions

Some renters may finally see some financial relief, as growth in rental costs showed signs of slowing down in the first quarter following a period of rapid growth.

UK Rental Costs Outpace Gross Income

The UK has seen quite a steep difference of pace between the rate of growth of rental costs for private property tenants , up 60% over the last 10 years, as compared to gross income which has only gone up by 31% over the same decade.

Recent Report Finds Apartment Costs Rising Sky High

According to a recent report by ListFinder, an online mailing list search tool, renting an apartment is at an all-time high, and vacancy rates are less than 5%. ListFinder has found its mailing list data for apartment renters is increasing as less people are buying condominiums and homes, even though the cost of renting is now at its highest rate in more than five years.

London Rental Costs Continue To Rise

Central London rents look set to increase by as much as 8% to 10% by the end of this year, putting huge pressure on their tenant’s finances, says a new report by property consultants in the UK. The latest report from Cluttons’ Residential Property Forecasts says that the growing demand for rental properties in London

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Can’t Afford to Buy – Can’t Afford to Rent

According to a report released at the end of last month, a new record high number of renters are spending over 50% of their income on keeping a roof over their heads, says the Harvard Joint Center for Housing Studies. And it’s not just the working class who are feeling the pinch, for many of those struggling are considered middle class.

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