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07-21-2007, 07:02 AM
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Member
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Join Date: May 2006
Location: Philadelphia
44 posts, read 52,044 times
Reputation: 20
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Will rents in the DC area decline?
In the next year does anyone think that the average rent in the DC metro area will decline now that housing market is bottoming out? I sure hope it does.
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07-21-2007, 07:59 AM
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Keep the Illegals, Deport the Republicans
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Join Date: Jan 2007
14,663 posts, read 6,299,176 times
Reputation: 2459
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There is very little chance of that. The number of jobs, people, and dollars is increasing. The same cannot be said to the same degree with respect to the number of rental units conveniently located to transportation, shopping, and employment hubs.
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07-21-2007, 11:45 AM
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Member
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Join Date: May 2006
Location: Philadelphia
44 posts, read 52,044 times
Reputation: 20
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Quote:
Originally Posted by saganista
There is very little chance of that. The number of jobs, people, and dollars is increasing. The same cannot be said to the same degree with respect to the number of rental units conveniently located to transportation, shopping, and employment hubs.
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Your probably right I keep hoping for some releif but I doubt I'll get it anytime soon. |
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07-21-2007, 05:54 PM
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Senior Member
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Join Date: Jan 2007
857 posts, read 1,063,533 times
Reputation: 254
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Well with housing becoming unaffordable and banks tightening up credit lines, will only make the matter worse I suspect...
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07-22-2007, 12:26 AM
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Junior Member
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Join Date: Jul 2007
Location: Bloomingdale, DC
9 posts, read 21,263 times
Reputation: 15
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Since loans are getting more expensive and banks are less willing to give them out that will drive rents higher as more people continue to rent that would have bought. Also as somebody looking for a rental this past week, I heard twice from owners of basement apartments talk about how they had to raise the rent to cover the increase in the variable rate mortgage they got convinced was a good idea a few years back.
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