2012-07-05 — hotair.com
An interesting if not exactly shocking CNN report this morning shows rents rapidly increasing in large urban areas, driving a national average increase of 5% -- at the same time that housing prices continue to fall. Also not exactly shocking, the largest rent increases have occurred where foreclosure rates are higher. The rent increases are a market reaction to heightened demand from people who can no longer afford to buy, either because a foreclosure and/or bankruptcy has ruined their credit rating or through unemployment
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