Rents are rising across the U.S.
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Tenants hoping to catch a break on their rents may not be successful anytime soon. As Swapna Venugopal Ramaswamy reports, rent prices are up overall but still not as high as last summer . The national median rent price is now $2,029, 1.8% less than in August 2022 when rents reached $2,053. Rent prices declined in the West, moderately increased in the South, while the Northeast and Midwest experienced the highest price gains.
On a monthly basis, rents grew in 57% of markets, and 10 states had the highest year-over-year rent growth, with more than 6% rent increase ? South Dakota, Mississippi, Iowa, North Dakota, New York, Arkansas, Nebraska, New Hampshire, Wisconsin, and Indiana.
Drivers struggling to get car loans
While there are more cars available for purchase, drivers are having a harder time borrowing money to drive off the dealer's lot. Medora Lee reports that lenders are growing cautious of borrowers who have struggled with inflation. Many lenders, including Fifth Third Bancorp, Citizens Financial, U.S. Bank and Capital One Financial, have already either cut out or scaled back auto lending.?
And those car payments are getting expensive for some consumers ??the number of Americans paying?at least $1,000 a month?on new loans reached a record high of just over 17%.
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1 年Wow
Co-Founder at Never Alone Advocacy
1 年Thank to Sleepy Joe! The same guy that the American’s media cheered during the election 2020! You guys deserve it ! Hopefully you Americans don’t make the same mistake in 2024.
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1 年Data Entry & B2B Lead Generation Expert https://www.fiverr.com/syednizam786/do-b2b-lead-generation-and-email-list-building
Creating harmony from a symphony of challenges
1 年From a perspective... ... I have to wonder if the era of "work from home" may be driving the prices upward. If both large office buildings and apartment communities are owned by one holding company for example and it is realized or it has predicted that there may be a loss from either one, perhaps they are making up for such losses by upping the rent on apartments across the board. It could also be due to inflation of goods and or services needed by the apartment owners to keep up with building codes and etc. Another thought came to mind, would higher rents offset high rates of depreciation and lower resale value?
Next Trend Realty LLC./wwwHar.com/Chester-Swanson/agent_cbswan
1 年Thanks for Posting.