Latest News and Opinion About Real Estate Around The USA.
Saturday, September 15, 2007
Best Market For
Matt Woolsey writes the most interesting and articulate artcles about Real Estate. Read some of his latest artcles, it is in fitting with the time.
When bad news comes out of the housing market, skittish potential buyers opt to wait for the market to bottom out. And since they have to live somewhere, these would-be buyers rent.
If you're looking to rent property--for whatever reason--the best place to try is Atlanta, where rental vacancies are expanding and prices are going up slower than inflation. Not far behind are Denver and Phoenix, where yields and supply problems are giving investors fits, but making life easy for renters.
Whether they're waiting out the housing storm, or smack in the middle of it, an increasing number of Americans are choosing to rent, not own. And that's good news for landlords and investors.
Foreclosures and risky lending have dogged the housing market. As lenders have tightened their standards, attractive mortgages have grown harder to come by. Yet rental fundamentals have remained strong, especially in the 10 areas that made our list of Best Markets for Landlords.
Tops on our list: New York City, where in the last 12 months rents have jumped between 7.4% and 7.9% across the Class A, B and C apartment classifications ("A" being the most luxurious, "C" being the least). In the Big Apple, 80% of the population rents, and the city's unaffordable housing entices few to make the leap to home ownership.