Rents are Rising…a lot!

Many of the first time buyers I work with, especially recently, express their frustration for the high cost of renting these days. For many it has pushed them to take the necessary steps into purchasing, especially because the rent they are paying now is equal to what they would pay for a mortgage! Rents are rising at a 5.17 percent annual rate — up from last year’s 4.72 percent rate. There are 1.4 million new renters this year and with that, more investors looking for properties to buy and rent. Read more here.

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