This is excellent analysisof the rental market paradox. Your point about the CPI data lagging behindreal-time pricing is sharper than most people understand, becuase those manual surveys could be capturing rent commitments from months ago. When Austin saw rents drop 4.7% year over year from heavy construction, it proves what supply-side housing advocates have been saying but the market signal is more subtle than most assume.
Waterville has recently had 70 +_ apartments available for rent. A year ago, when I checked the online listings, there would be fewer than 10 listings. There are many new units for low to moderate incomes coming online in the near future.
I’m surprised that there has been such a dramatic shift when these new units have not yet opened. Perhaps because landlords began to charge both first and last months rent and a deposit? That may have priced out new renters as units became available.
This is excellent analysisof the rental market paradox. Your point about the CPI data lagging behindreal-time pricing is sharper than most people understand, becuase those manual surveys could be capturing rent commitments from months ago. When Austin saw rents drop 4.7% year over year from heavy construction, it proves what supply-side housing advocates have been saying but the market signal is more subtle than most assume.
My landlords had advised of a 10% increase.
Waterville has recently had 70 +_ apartments available for rent. A year ago, when I checked the online listings, there would be fewer than 10 listings. There are many new units for low to moderate incomes coming online in the near future.
I’m surprised that there has been such a dramatic shift when these new units have not yet opened. Perhaps because landlords began to charge both first and last months rent and a deposit? That may have priced out new renters as units became available.