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Apartment Rents?

Posted by Chris Farrell on Sunday, April 15, 2007

There still seems to be an expectation that apartment rent prices will rise this year, but I don't buy it. The supply of housing is simply too big, and there are too many speculative investors out out there with precarious finances. Many homeowners that stretched to buy another home hoping to flip it are now going to have to put it out for rent to limit their losses. This time around, I expect severe price weakness in the housing and condo markets will drive apartment rents lower.

Comments (1)

Meg | Respond
April 25, 2007 3:29 PM

Are you talking about a specific market, or in general? I live in New York City and rents always go up. True, there is price stabilization on some apartments, but it's hard to imagine landlords in this still-hot market not milking the situation for all they can.

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