Posts Tagged ‘rental prices on the rise’

Even with the real estate market heating back up, rentals are still in high demand, prices rising…another reason to buy a home!

Wednesday, October 17th, 2012

Vacancy rates in rental properties across the Portland metro area are falling and thus the rental rates for properties are increasing; this is in spite of the housing market recovery as typically when home ownership is on the rise, naturally rentals would be on the decline (as those renters become home owners). The thing is with foreclosure and short sale numbers being just astronomically high over the last few years those previous home owners still needed a place to live and thus the rental markets heated up; seems they’re still increasing now and this is inline with current market stats because though we are in recovery mode, we’re still seeing high foreclosure and short sales rates; they are declining, but they’re still high and thus still turning owners into renters.

If however you have not [recently?] owned a home and are renting, it may be time to ditch that idea of flushing money down the toilet every month (sorry, but that is my opinion of renting) and get in on the recovery and become a home owner.

By now, hopefully, you should know who to call for assistance there too!