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Guess who had the 5th biggest DECREASE in rents last year?

WandererWanderer
edited January 2009 in Seattle Real Estate
http://finance.yahoo.com/real-estate/article/106480/Rents-Drop-Nationwide-as-Vacancies-Spike
I am normally a snob about looking at yahoo news stories, but this is provided by Business Week... so I will pass it on. Seattle also was tied for 2nd for the biggest drop in the 4th quarter alone (out of the top 10 annual losers anyway). I take no pleasure in friends losing jobs at MS, Boeing, Starbucks, etc. but those layoffs haven't even hit yet. Might be time for a kind email to my landlord who helpfully passed along local economic data during my last rent increase.

Comments

  • Hugh DominicHugh Dominic
    I saw this as well.

    I was considering forwarding it onto my landlord who "mentioned" raising the rent recently.

    Held off for now, but if they get serious I will.

    One question, the article talks about apartment rents - do we have any data on SFHs?
  • Dave0Dave0
    I saw this in one of the comments a few days ago as well. Right afterwords I searched on craigslist and found places comparable to my house up for rent for 3/4 of my rent. Once it comes time to renew my lease, I'll definitely be sending a nice note to my landlord mentioning this fact.
  • kfhozkfhoz
    Article says:
    Go for a Long Lease "If you've got job, it's a great time to be a renter and to sign the longest lease possible," said Ron Johnsey, president of Axiometrics.com, a Dallas apartment data company.
    Uh, if rents are declining, why would you as a renter want to lock yourself in to today's rate with a long lease? :?

    I know some landlords who would LOVE to talk to those renters today.
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