Posted by: union03g | October 9, 2009

So, where did all the renters go?

Williams Tower

Image via Wikipedia

This article does a nice job of breaking down how the renting community has pulled a 180 over the past year. They collectively went from risk taking, over leveraged people who fearlessly moved out on their own to live in River North highrises and Gold Coast walkups, to the humble saving type, living with Mom or taking the spare office at their  friends 3 bedroom in Uptown – effectively disappearing off the grid. The air has been let out and vacancy rates clime ever higher, even in the most prestigious neighborhoods.

Investors beware.

In more words he discribes:

  • Household Formation
  • New Developments/Inventory
  • Rental Prices
  • Migration
  • Unemployment

Article Here:

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