There was a great article in CNN money today about rising rents.
CNN explains that "Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years."
And it made me realize that my previous post about renting vs. buying was flawed, because rents never stay the same for 30 yrs.Â They go up!Â They go up nearly every year, while a 30 yr fixed mortgage stays the same, for 30 years!Â
From the article:Â
"The demand for rental housing has already started to increase," said Peggy Alford, president of Rent.com. "Young people are starting to get rid of their roommates and move out of their parent's basements."
By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer…