Seeking Alpha

Rents are surging from New York to L.A., as the average monthly U.S. rent for apartments hit an...

Rents are surging from New York to L.A., as the average monthly U.S. rent for apartments hit an all-time high $1,008 in Q1. It makes sense: Demographics are favorable for rentals as a large cohort moves into the 25-to-35 age group, people who have lost their homes to foreclosure or short sales turn to renting, and some people have probably stopped doubling up.
Comments (1)
  • Joe Eifrid
    , contributor
    Comments (345) | Send Message
     
    Also with younger people taking on more debt in the way of student loans they will be less likely to be out house shopping in the future, delaying a home purchase until later in life.
    7 May 2012, 11:23 AM Reply Like
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