Nor could we. I’m so glad we started renting well before rents started rising in 2005. Our long-time landlord never raised our rent after the first year, which was written into our original lease — though I raised our own rent once in order to maintain control over it. Rents went up about about 35% while we were renting, and we would really have had to stretch if we had been paying market rent the whole time.
Rents are crazy, and with interest rates so low, it only makes sense for people to choose buying over renting as long as they intend to stay in their homes for the long term. I really feel sorry for prospective buyers right now.
