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Do you think rents will go up?

It has become very tough to obtain credit to buy a house right now and, as everyone knows, there are so many foreclosures. Do you think there will be a lot of demand for rentals now and the rents will go up? I remember times when you could not find an apartment.

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Avon_Calling

Asked by Avon_Calling at 7:15 PM on Dec. 11, 2008 in Home & Garden

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Answers (5)
  • I absolutely think they will. Especially if they have utilities included.
    Rebecca7708

    Answer by Rebecca7708 at 7:33 PM on Dec. 11, 2008

  • I think they will also because more people are giving up their homes and moving into apartments because of the cheaper cost compared to a house that they could not afford after getting it. I also think apartments are going to be hard to find in these economic hard times.
    foreverb3

    Answer by foreverb3 at 9:39 AM on Dec. 12, 2008

  • No. I think because of all the forclosures, it will have the opposite effect. Rents will go down because banking institutions and/or property owners will want revues from these empty properties.
    Tetona

    Answer by Tetona at 11:26 PM on Dec. 12, 2008

  • My parents own 17 rental units and they are all full. In fact, it is the first time since owning them that they have all been rented at the same time. So, yeah, I think that there will be a good demand on rental property. As far as the cost of renting going up, I am sure it will. Everything else has gone up. My dad has always said that the weekly cost of daycare runs even with the weekly cost of renting a place. So far, he has always been right about that.

    JeremysMom

    Answer by JeremysMom at 12:24 AM on Dec. 16, 2008

  • Prices will and are going down. I work for a property management company and the markets are flooded with rentals right now. Because of this people have alot of choices and they aren't just gonna settle, so lessors are forced to lower the prices to snag people!
    sidzwif

    Answer by sidzwif at 5:02 PM on Dec. 18, 2008

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