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Rent prices rose 12% in 2010
- brudgers 16y agoRising rents mean that the gap between rents and mortgage payments is narrowing. That will tend to slow the decline of home prices.
- space-monkey 16y ago"Rents hit a national average of $1,319 by December, up from $1,181 in January 2010, according to HotPads.com. The figures were calculated from a sample of one million active rental prices on the website." Someone generated a statistic based on an arbitrary data source and posted it on the internet. It must be true!
- drp 16y agoThe stats were aggregated from every rental listed on hotpads during 2010. At any given time there are half a million rentals listed, some of which have multiple vacancies (large buildings), thus the million prices. original: http://hotpads.com/pages/housing-report-2011-01.htm http://hotpads.com/pages/housing-report-2011-01.htm
- aero142 16y agoThis is very surprising to me. When the home sales market drops, more people rent out their old home instead of selling it at a loss, hoping that the prices will rise soon. This causes the rent prices to drop. This is what I saw a few months ago when I considered renting out my house. Perhaps I need to check the prices again.