Rents Soar in Biden’s America
Once again, Democratic policies hammer the middle and working classes.
Rent data for the past two months show no sign yet of the usual seasonal dip at this time of year, following peaks early in the summer, when many lease renewals come due.
A Zillow Group Inc. index based on the mean of listed rents rose 11.5% in August from a year earlier, with some cities in Florida, Georgia and Washington state seeing increases of more than 25%.
“To have double digit rent growth over the course of a year and a half is a shocking level of growth, especially considering the vast majority of it has come in the last 9 months,” according to the Zumper National Rent report.
Since the start of the pandemic, the median rent for a two-bedroom apartment has soared 13.1% to $1,663, Zumper data show.
This is solely caused by the allowance of dead beat renters to not be evicted. Any landlord still owning multifamily property is going to claw that lost money back somehow.
Sorry, Jason, but your “solely caused” assertion is not true. Without details, I can tell you that rents are being increased in at least SOME cases just because the landlord wants more money for the place–and gets it.