With the number of families who have left their homes due to foreclosure, rental properties are continually scarcer. This — if you believe in supply and demand — means higher rents.
Information released by the U.S. Census Bureau on Monday indicated that housing vacancy rates declined in the fourth quarter as more people moved into rented homes. The proportion of families renting has now reached a 15-year high, while homeownership reached a 15-year low.
Families who lost their homes to foreclosure related to financial pressures may be in for another nasty shock. The less rooms for rent, the more they cost.
Read more...Rising rents mean bad news for renters, economy | HousingWire
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