Unless my rent drops, this story is bullshit. By friendly, you mean it may not go up this year? Yeah right, rental programs are controlling the market and pushing rent up for no damn reason.
Austin–Round Rock–San Marcos, Texas: −6.6% Denver–Aurora–Centennial, Colorado: −4.8% Birmingham, Alabama: −4.6% Jacksonville, Florida: −4.2% Phoenix–Mesa–Chandler, Arizona: −4.0% San Diego–Chula Vista–Carlsbad, California: −3.5% Las Vegas–Henderson–North Las Vegas, Nevada: −3.0% Houston–Pasadena–The Woodlands, Texas: −2.7% Miami–Fort Lauderdale–West Palm Beach, Florida: −2.7% San Antonio–New Braunfels, Texas: −2.7%They’re like airlines- drop the cost by $1 and add $30 in ridiculous fees.
In 2024, more than 600,000 new multifamily apartment units — typically large, managed apartment buildings — were completed nationwide, the most in a single year since the 1980s, according to Apartment List.
It’s almost as if prices were so high because there was a supply/demand imbalance, and as supply and demand normalizes prices do as well. Hmmm.
What about better representations of housing affordability, like price per squarefoot or a ratio comparing jobs available within x distance that pay 5x the rent price within 15 miles? These numbers don’t matter if no one can afford them still.
