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Why your skyrocketing rent is bad for the economy

By tovarichpeter   2013 Mar 22, 12:53pm   1 link   723 views   1 comment   watch (0)   quote      

http://www.theatlanticcities.com/housing/2013/03/why-your-skyrocketing-rent-bad-economy/5069/

By September, our own Richard Florida noted that it had become cheaper to own a home than to rent one in every one of the country's 100 largest metros. Earlier this year, it appeared as if the average rent for an apartment in San Francisco had finally leveled off...

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1   fedwatcher     2013 Mar 25, 6:12pm  ↑ like   ↓ dislike   quote    

The 1% are becoming rentiers making their capital work for them. That is what happens in an economy where labor loses its bargaining power.

But rents on single family homes are falling as Wall Street 0.01%ers sell to the 1%ers who want to become landlords.

A point of information: in California it is very easy for your deadbeat renter to stay for 18 months without paying any rent, so good luck to you who invested in the funds buying houses in Riverside, San Bernadino, Ventura, or Sacramento counties.

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