Why Rent Prices Will Continue to Rise: Rental Shortage at 38 Year High

Rent prices will keep going up as there is a rental shortage. The number of vacant rentals is at a 38 year high means rents will keep going up. Rents have skyrocketed the last two years and are likely to increase in 2022 and 2023. The lack of new homebuilding has also limited the number of homes that can be used for rentals.

It is unlikely that a recession will have a significant impact on rent prices. As long as the landlords cost to acquire a home is still high, those costs will be passed onto tenants in the way of higher rents for tenants. Over 95% of the US has had rent increases in the last two years, most notably in Miami, Las Vegas and Austin Texas.

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