National REIA - Brad Beckett - 21 December 2017
In their latest America’s Rental Housing report, Harvard University’s Joint Center for Housing Studies says that a decade of unprecedented growth in rental housing may be coming to an end. They report that fewer new renter households are being formed, rental vacancy rates have risen, and rent increases have been slowing; while at the same time, renter demographics are changing and nearly 21 million households continue to pay more than 30 percent of their income for rent. This is good data and certainly something look at, but is by no means the last word on the subject as we have seen on this site.
“…Rental housing markets have seen an unprecedented run-up in demand over the last decade, with growth in renter households averaging just under one million annually since 2010. But the surge in demand now appears to be ending, with the three major government surveys reporting a sharp slowdown in renter household growth…”
Editor’s note; this report was released in December, prior to the recent tax-overhaul legislation passing Congress. Stay tuned….