Rents skyrocketed in 2014 and many analysts did not think those escalating costs would be sustainable. But they have yet to slow in 2015 – and in fact, rents have gotten higher — and the increases likely will continue into next year.
Annual rent growth in September was 5.2 percent – the highest since 2011, according to Axiometrics, an apartment research firm. That also marks the eighth consecutive month the rate has been 5 percent or higher. A year ago, annual rent growth was 4.1 percent.
“The eight months the rate has been above 5 percent is the longest sustained period of strength we have seen,” says Stephanie McCleskey, vice president of research at Axiometrics. “The last growth cycle was only four years, and this cycle is already five years long — with no sign of stopping.”
Owners of real estate have a much greater net worth then renters which is expected to get even wider in the coming years. http://wp.me/p2TTC3-rP The sooner renters buy, the better it will be for them.
