A Stunning $500 Billion Paid in Rent 2017
Boston luxury condos for sale
A recently released study revealed that a whopping $500 Billion was spent on rents in the U.S. in 2017. This represents an increase of over $20 Billion from the year before.
Why such a jump?
Many Millennials have postponed the purchase of their first home while waiting for the economy to recover. This has increased demand and dramatically lowered vacancy rates. In a recent article on the MarketWatch, economics reporter Ruth Mantell explains:
“Landlords have ramped up rents by the fastest pace in six years, with national vacancy rates the lowest in two decades.”
Zillow Chief Economist :
“Another increase in total rent paid similar to that seen this year isn’t out of the question. In fact, it’s probable.”
Find out how you can become a condo owner, call Robert Veek 617-720-5454.