metro rental markets at historic vacancy rates
Tom Brown's bankstocks.com has an article about the decline in metropolitan area rents:
SINCE EISENHOWER WAS PRESIDENT: Here's the most compelling sign yet that the housing boom will cool any minute: the vacancy rate for rental units hit 9.9% nationally this past summer.That's the highest rate since the government started keeping records in 1956. Nearly half a century! Rents are now falling in 80% of the metropolitan areas in the country
Not surprising since our population isn't swelling -- all these new home buyers are folks exiting the rental market. This spells trouble for housing P/Es.
[via Jay Solo's Verbosity]
Posted by dapkus at December 9, 2003 10:44 PM
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