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I'm not necessarily disputing, but I just got a lease signed in a Florida beach town in a week of listing in APRIL for an entire year at $400/month over last year's Snowbird Fall-Winter Rent Rate
What's happening is that people who are "investors" in rental property often have adjustable rate mortgages. As rates go up, they are forced to raise rents to keep up with their own payments. I suspect this time we're going to get massive interest rates but it won't matter, we'll end up in hyperinflation.
What a coincidence, that's when everybody is supposed to own nothing, but still be happy.
I paid cash for it, and was advised by the property manager to do so.
Maybe.
Or maybe since the COVID restrictions have loosened, they took flights to places like Cancun instead.
Yes, agreed, this is how they will claw back Boomer Wealth.richwicks says
In the Great Depression, property wasn't an asset, it was a liability. It's so hard to see what they are doing, but I suspect they are going to pull the same shit again. I thought they were going to pull this shit 15 years ago though, and they didn't. History really does rhyme, it doesn't quite repeat, but there are only so many rabbits in their bag of tricks.
So, failing in that, the new plot is to stop Boomer Soc Sec payouts by money printing and keeping the SS Adjustment CPI with hedonics, ludicrous substitute goods, and crass manipulation far below the real rate of inflation.
I wonder how Blackrock and others finance SFHs.
Rates on the Jersey Shore are higher this year compared to previous years. If Panama City Beach Florida isn't booked up, yet, it might be because of gas prices. September Atlantic City rates look expensive by September standards. I mean even after Labor Day still expensive compared to the usual where it gets cheap after Labor Day.
A few things that make Panama City Beach attractive is that it can be reached by car within 12 hours such as from as far as Ohio.
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