Will Parker
speaker
780 appearances
18 recordings
1 series
first heard May 2019
last heard Nov 2024
Will Parker’s voice in public audio — every appearance, attributed to the second.
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Appearances
So there will be some natural relief at least for a little while.
That can mean, you know, adding roommates, moving back in with family, or simply postponing plans to get an apartment of your own in the first place.
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That especially affects younger people who do make up a large portion of the renter population.
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The biggest change is that rent stops shooting up so much.
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You had two years where rent was breaking records everywhere from Phoenix to Tampa and even in places that didn't have a lot of rent growth in recent years like Riverside, California or Memphis, Tennessee.
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These places had seen double digit growth in rents that hit renters really hard.
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It made a lot of housing markets even more unaffordable.
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This year, that has stopped.
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It hasn't reversed, but rents are generally not rising.
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They're pretty flat in a lot of the country, at least for new listings.
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People who are renewing their apartment may see some increase, but even those people are seeing smaller increases than in the last couple of years.
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So things have cooled off quite a lot in 2023.
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There's a few factors and it varies by where you are.
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The one that is talked about the most is the volume of new construction, new apartments that have been built recently, especially in the Sunbelt and cities where there's been a lot of demand, a lot of migration, places like Dallas or Houston, Phoenix, Nashville.
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As they see more supply come online, you have more buildings that are competing with each other for tenants and you're seeing that competition lead to some drops in price.
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In other places, it's simply there's not as many people moving around as there was earlier in the pandemic where you had people moving all over the country.
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So there's less demand from that.
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And then third, a lot of people were just maxed out.
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I mean, there is a point at which you can only push the renter so far.
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People start making very different life decisions based on, you know, what they're being asked to pay in rent.
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Showing 61–80 of 780 · page 4 of 39
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