Sorry, I forgot to check and see if my post made any sense!
This is what I know. Rents in Orange County have increased aproximately 30% over inflation in the last 7-8 years.
This year, they are starting to stabilize. They are rising at the lowest pace in 8 years, but are still increasing.
So many consider a property affordable when monthly rent and a similary property and monthly mortgage costs on their potential purchase are equal. However, rental prices are out of whack with historical norms as well.
So, do you think rents are going to decrease and fall in line with historical rent/income ratios or will median rents continue to increase, albeit at a lower percentage year over year?
