I’ve been saying this about apartment rents for a long time on Piggington’s. A year later the U-T finally figures out the same thing. I guess that means I was wrong before but now I’m right.
Houses and apartments are connected in the rental market, if for no other reason than apartments serve as the lesser alternative. House rents wouldn’t be going up right now if there weren’t so many people sitting out the housing market. Of course, “going up” is a relative term. It’s not like they’ve doubled or even gone up 50%. They’ve just slightly exceed the pace set by the wage and population trendlines. Thy may or may not hold – I rather think they won’t hold but I guess I’ll have to wait for a few years before the U-T gives me my opinion.