Real Estate

Why rent is about to go up again

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Sorry to be the bearer of bad news. But if you’re currently renting your place, you might see the price tick up when it’s time to renew your lease.

In fact, rent is forecast to be even higher this year than it would have been if the pandemic had not occurred.

Throughout 2020, many renters were able to benefit from price reductions or even months of free rent as landlords struggled to fill empty units. But those concessions are more or less gone, and landlords are hiking up prices as Covid-19 restrictions end and housing demand spikes.

Housing costs were rising before Covid, but the coronavirus exacerbated the problem:…



Source cnbc.com

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