Yet another harrowing reason I am stuck renting
"If housing prices go up, apartment and other rental prices will go up as well," said Mark Soskin, an economics professor at the University of Central Florida. "When people can't afford to buy a house, they go to the rental market."
With more people looking for rentals and thousands of apartments being converted into condominiums, an already tight rental market -- occupancy rates are virtually full -- will only get tighter. Rents are expected to increase an average of more than 3 percent this year, according to one real-estate-research firm.
Linda Beach, publisher of Apartment Finder, estimates that Central Florida has lost about 10 percent of its apartment communities to the condo craze this year.
"I've been in this industry for 20 years, and I've never seen it like this," Beach said.
Found here at the Orlando Sentinel.
With more people looking for rentals and thousands of apartments being converted into condominiums, an already tight rental market -- occupancy rates are virtually full -- will only get tighter. Rents are expected to increase an average of more than 3 percent this year, according to one real-estate-research firm.
Linda Beach, publisher of Apartment Finder, estimates that Central Florida has lost about 10 percent of its apartment communities to the condo craze this year.
"I've been in this industry for 20 years, and I've never seen it like this," Beach said.
Found here at the Orlando Sentinel.
Midnite Raven said it at 1:56 PM
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