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Rents are going through the
roof across much of the U.S.

Original Article

Posted By: NorthernDog, 7/16/2021 4:32:24 PM

Ryan David didn't expect the modest one-bedroom apartment he owned in Dupont, Pennsylvania, to set off a bidding war. But when David listed the second-floor unit for rent in February, he got 160 applications in only a few days — about five times what he'd normally expect. One would-be tenant offered to pay an entire year's rent upfront. Another who had recently moved to the area, offered to pay $650 a month — $50 more than David was asking. (Snip) After dipping last spring, rents around the U.S. have not only recovered but are now blasting past their pre-pandemic levels. In 44

Comments:

Flooding the country with hundreds of thousands of unhoused illegal immigrants is only making it worse.

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Reply 1 - Posted by: Come And Take It 7/16/2021 4:36:50 PM (No. 848101)
You may be getting record rents, but good luck finding a renter that is worth a damn to rent TO. Sold my properties years ago because it was bad then. Can't imagine how bad it must be now with government's thumb on the scale preventing evictions.
19 people like this.

Reply 2 - Posted by: Donna M 7/16/2021 5:11:52 PM (No. 848130)
Why does this strike me as the truth for rural areas with gun rights like PA off major higbways like 81 and the Turnpike, and false for NYC and Philadelphia?
3 people like this.

Reply 3 - Posted by: Hermit_Crab 7/16/2021 6:27:49 PM (No. 848170)
Think it is bad now? Just wait until Blackrock and the other giant Hedge Funds, The Government (U.S. AND China) own nearly everything.
7 people like this.

Reply 4 - Posted by: DVC 7/16/2021 7:26:28 PM (No. 848209)
A millennial friend just bought a house because of this.
3 people like this.

Reply 5 - Posted by: stablemoney 7/16/2021 7:58:09 PM (No. 848233)
The new renters are the illegals and those that won't pay, who are always in the market to rent.
3 people like this.

Reply 6 - Posted by: enemyofthestate 7/16/2021 8:28:33 PM (No. 848247)
You want to know the price of voting for Vegetable? There it is, and it is just ONE indicator of the cost. Are you happy with your vote for Vegetable?
3 people like this.

Reply 7 - Posted by: TrueBlueWfan 7/16/2021 8:54:21 PM (No. 848265)
After a year of not being able to evict deadbeats, owners of these properties are probably being supremely careful, along with raising their rent prices to try to make up for lost time.
8 people like this.

Reply 8 - Posted by: ColonialAmerican1623 7/17/2021 12:19:22 AM (No. 848334)
I would have taken the 12 month advance payment. How many of these people will lose their jobs ? A real problem in this area is investors renting to anybody. Another friend is a senior, happy to rent a home for a decade. The owner sold the home and thanks to out of state people moving here, they can't find affordable housing.The wait for senior housing is years.
4 people like this.

Reply 9 - Posted by: ROLFNader 7/17/2021 9:41:54 AM (No. 848581)
Nearly every house that goes on the market in this town ( NW Lower Mi ) is an auction. Seems a lot of folks want to get the heck out of cities south of here. You know, the 'diverse ,liberal and woke' area.
2 people like this.

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Ryan David didn't expect the modest one-bedroom apartment he owned in Dupont, Pennsylvania, to set off a bidding war. But when David listed the second-floor unit for rent in February, he got 160 applications in only a few days — about five times what he'd normally expect. One would-be tenant offered to pay an entire year's rent upfront. Another who had recently moved to the area, offered to pay $650 a month — $50 more than David was asking. (Snip) After dipping last spring, rents around the U.S. have not only recovered but are now blasting past their pre-pandemic levels. In 44
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