Are Renters Doubling Up To Prepare For Economic Downturn
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If you are looking for apartments in Florida inventory of unused properties is rising according to a recent University of Florida study. With a weak housing market one would think that rentals would be doing well or people would be moving into the unused homes.
But the survey finds that instead people are doubling up, moving in with a roommate instead of having their own apartment. The fear of a weak economy must be causing renters to be more frugal.
“The biggest surprise is how notable the downturn in the state of the apartment market appears to be,” Archer said. “It could be that people are trying to save money by doubling up and sharing accommodations with roommates, reducing the demand for apartments.” via Axcess News
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Pingback by Where is the Market Really At | Real Estate Success Link on 10 July 2008:
[...] Feds Come out of Comma and Say Mortgage Crisis Worse Than They Thought Are Renters Doubling Up To Prepare For an Economic Down Turn ? [...]
Comment by Leisure City Real Estate on 24 July 2008:
This happening is a clear illustration of how hard times have struck everyone. It’s one way of making the most of the money that we are shelving out especially when it comes to rentals.