Rising rent will cause people to become homeless? So says Zillow®. We know how accurate Zillow® data is. LOL.
Homelessness is not a laughing matter, but I don’t see someone that chooses to work to become homeless with a 5% increase in rent. Just as they’ve chosen to work, they’ll simply choose to figure it out and find another way to remain in a rental.
To put 5% into perspective, if your rent is $1500 a month, 5% is $75. Average 30 days in a month and that equals $2.50 per day more. Who will choose to become homeless for a $2.50 cost of living per day? What country do we live in?
The only way to fix the rise in rates is to provide more rentals. Dormant available rentals that are overpriced, cost the owners. Simply lower the price until the property is rented.
The Tampa bay area is building lot’s of new homes and developers are building lot’s of new apartment complexes. They see the opportunities and are capitalizing on them.
Looking for a rental? Buy? Sell?
Not many agents do them all, but I do!
Curtis Rudolph Realtor®
Charles Rutenberg Realty
Source and picture, courtesy of Zillow® and the LA Times.