Man, it’s amazing how competitive it is for rentals. I’ve been looking, and I’ll view a place, finish the app, fax it and be too late. Same day. My wife and I ran home to the websites, turned them in right after, and there are 3 people in line.
I went to a viewing tonight, the guy said that he has had the place on craigslist for 3 months. Yesterday, he had 3 apps in one day.
I was thinking that maybe rent prices would increase due to demand? With condo conversions from apartments that there could be a shortage in rentals, making rent increase. With an increase in rent than the rent/buy equation increases also. I can’t imagine it sustaining due to the sheer unaffordability of it but it seems like it could happen short term.
