Updated 09/27/22 This newsletter is updated as the economy and situations change.
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“When people can no longer afford to buy a home, the price of rent goes up.” It is likely rents will increase in the coming year because high interest rates have driven mortgage payments up which drives rents up. Though there are government restrictions with regards to increasing rent in many properties, it won’t help much, and in many cases actually provoke landlords to raise rent as much as legally possible every chance possible so they don’t miss the opportunity tomorrow.
The only situation that can lower rents is an abundance of vacancies that can be caused by either a declining population or exceptionally high unemployment.
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