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January 17, 2009 at 8:35 AM #330827January 17, 2009 at 8:44 AM #330408TheBreezeParticipant
My lease expires next month and I’ve been looking. Since I have a 12-month lease, I was looking at this time last year too.
I did notice that last summer rents were higher than when I renewed in February. Thus, this does seem to be a seasonably soft time of year. However, there seem to be a lot more vacancies now than there were last year at this time and rents are definitely cheaper. My guesstimate is that rents are off between 5% and 10% as compared to this time last year.
It’s hard to say if this trend will continue into the summer. The recession/depression may overwhelm the seasonality and rents could continue to go down from here. I’d like to see that happen, but I’m not holding my breath.
January 17, 2009 at 8:44 AM #330930TheBreezeParticipantMy lease expires next month and I’ve been looking. Since I have a 12-month lease, I was looking at this time last year too.
I did notice that last summer rents were higher than when I renewed in February. Thus, this does seem to be a seasonably soft time of year. However, there seem to be a lot more vacancies now than there were last year at this time and rents are definitely cheaper. My guesstimate is that rents are off between 5% and 10% as compared to this time last year.
It’s hard to say if this trend will continue into the summer. The recession/depression may overwhelm the seasonality and rents could continue to go down from here. I’d like to see that happen, but I’m not holding my breath.
January 17, 2009 at 8:44 AM #330847TheBreezeParticipantMy lease expires next month and I’ve been looking. Since I have a 12-month lease, I was looking at this time last year too.
I did notice that last summer rents were higher than when I renewed in February. Thus, this does seem to be a seasonably soft time of year. However, there seem to be a lot more vacancies now than there were last year at this time and rents are definitely cheaper. My guesstimate is that rents are off between 5% and 10% as compared to this time last year.
It’s hard to say if this trend will continue into the summer. The recession/depression may overwhelm the seasonality and rents could continue to go down from here. I’d like to see that happen, but I’m not holding my breath.
January 17, 2009 at 8:44 AM #330821TheBreezeParticipantMy lease expires next month and I’ve been looking. Since I have a 12-month lease, I was looking at this time last year too.
I did notice that last summer rents were higher than when I renewed in February. Thus, this does seem to be a seasonably soft time of year. However, there seem to be a lot more vacancies now than there were last year at this time and rents are definitely cheaper. My guesstimate is that rents are off between 5% and 10% as compared to this time last year.
It’s hard to say if this trend will continue into the summer. The recession/depression may overwhelm the seasonality and rents could continue to go down from here. I’d like to see that happen, but I’m not holding my breath.
January 17, 2009 at 8:44 AM #330744TheBreezeParticipantMy lease expires next month and I’ve been looking. Since I have a 12-month lease, I was looking at this time last year too.
I did notice that last summer rents were higher than when I renewed in February. Thus, this does seem to be a seasonably soft time of year. However, there seem to be a lot more vacancies now than there were last year at this time and rents are definitely cheaper. My guesstimate is that rents are off between 5% and 10% as compared to this time last year.
It’s hard to say if this trend will continue into the summer. The recession/depression may overwhelm the seasonality and rents could continue to go down from here. I’d like to see that happen, but I’m not holding my breath.
January 17, 2009 at 9:04 AM #330856anParticipantTheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?
January 17, 2009 at 9:04 AM #330882anParticipantTheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?
January 17, 2009 at 9:04 AM #330779anParticipantTheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?
January 17, 2009 at 9:04 AM #330443anParticipantTheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?
January 17, 2009 at 9:04 AM #330966anParticipantTheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?
January 17, 2009 at 9:29 AM #330804TheBreezeParticipant[quote=asianautica]TheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?[/quote]
Yeah, that seems like a reasonable plan. If rent is cheaper this summer than now, it is likely to be cheaper still in the following winter. Plus, setting yourself up to renew every winter (especially if one plans to rent for several years) is likely to save money in the long run as opposed to having to renew during the summer.
January 17, 2009 at 9:29 AM #330468TheBreezeParticipant[quote=asianautica]TheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?[/quote]
Yeah, that seems like a reasonable plan. If rent is cheaper this summer than now, it is likely to be cheaper still in the following winter. Plus, setting yourself up to renew every winter (especially if one plans to rent for several years) is likely to save money in the long run as opposed to having to renew during the summer.
January 17, 2009 at 9:29 AM #330991TheBreezeParticipant[quote=asianautica]TheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?[/quote]
Yeah, that seems like a reasonable plan. If rent is cheaper this summer than now, it is likely to be cheaper still in the following winter. Plus, setting yourself up to renew every winter (especially if one plans to rent for several years) is likely to save money in the long run as opposed to having to renew during the summer.
January 17, 2009 at 9:29 AM #330880TheBreezeParticipant[quote=asianautica]TheBreeze, I concur w/ the 5-10% drop assessment. I wouldn’t be surprise if this summer, you’ll see 5-10% drop compare to last summer too. Since you also saw rent being higher in the summer, Winter 2009 would be an even better time to find a rental. Wouldn’t that mean it’s still better to move now and move again next January, when rent would be cheaper than Summer 09?[/quote]
Yeah, that seems like a reasonable plan. If rent is cheaper this summer than now, it is likely to be cheaper still in the following winter. Plus, setting yourself up to renew every winter (especially if one plans to rent for several years) is likely to save money in the long run as opposed to having to renew during the summer.
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