Recession or not, rents will continue to rise!
Don’t believe me? Then check out this chart from the Federal Reserve that shows YOY% change in rent since 1950.
The worst market for rent prices was from 2009 to August 2010 (during the Great Recession).
The only time in the last 70 years that rent prices marked negative YOY growth was in 2010.
And only 3 months actually had negative growth that barely reached -0.1%
While rent grow in excess of 10% like has been recorded for most of the last 7 years will not continue forever, landlords can count on YOY increases ranging from 3 – 5%.