Apparently one news source thinks your rent is going to drop -- but I'm not buying it. Bloomberg, the business news website and TV station, has an article out about rent in different US cities and claims rent will drop in DC by 2% this year.
Of course I'd like this to be true, but I can't imagine it. It's nice enough if landlords don't increase rent, let alone drop it. Plus if anybody has tried to find a place to live lately, it's crazy out there: huge open houses with tons of people, long questionnaires for potential housemates, and snap decisions due to places being filled really quickly.
Of course I'd like this to be true, but I can't imagine it. It's nice enough if landlords don't increase rent, let alone drop it. Plus if anybody has tried to find a place to live lately, it's crazy out there: huge open houses with tons of people, long questionnaires for potential housemates, and snap decisions due to places being filled really quickly.
There are some problems to Bloomberg's analysis though: they include the entire metro area, meaning the numbers are skewed by the burbs. They also say there's too much supply, but this doesn't seem to be the case in our area, where apartments are going for more than $2000 in new buildings. I know some buildings have been converted from condos to apartments, but as far as I can tell, those are being snapped up.
In Real Estate Business Intelligence's latest housing report for the 20010 zip code, there are fewer houses on the market now than 1 year ago, but prices are up 17%, which to me means there's still demand.
So if your rent has really dropped, I'd be shocked -- and good for you!
No comments:
Post a Comment