Rents Set to Rise as Demand for U S Apartments Grows
United States apartment demand is pushing rents higher for a fifth straight year. Construction gains are unlikely to ease the squeeze soon, benefiting landlords while pressuring renters, especially those already spending over a third of income on housing.
MENTIONED IN THIS ARTICLE
U.S
Apartment List
John Kobs
Michael Strane
Pasadena
Calif
Whittier Rent Jump Hits New Apartment Tenant Hard
Aiken Standard readers note rising rents in Whittier California where a geology student pays 1045 dollars monthly, up 200 from prior rent as Zillow reports nearly 14 percent average increases. Demand rose nationwide after the 2007 housing collapse with foreclosures pushing people into rental units. Builders faced loan gaps during the credit crisis stalling apartment construction until recently.
MENTIONED IN THIS ARTICLE
L.A
Whittier
Strane
Zillow
United States
U S housing market shows shortage of sellers and buyers
The 2014 spring housing outlook notes few homes for sale as mortgage costs rise and prices climb. Even with job growth and easing lending for some buyers, supply remains tight and sales may stay flat or fall. Redfin CEO Glenn Kelman says sellers are scarce and many wait into spring.
MENTIONED IN THIS ARTICLE
Washington, D.C
U.S
Glenn Kelman
Redfin
Standard & Poor
Seattle
Austin
Texas
Tate
Kelman
Jobless aid applications rise to 326000 amid steady hiring
The Labor Department reports a seasonally adjusted 326000 people sought unemployment benefits last week, up 16000 from the prior period. The four week average edged higher to 319500, signaling resilient job growth and fewer layoffs as the economy moves toward prerecession levels.
MENTIONED IN THIS ARTICLE
Washington
D.C
U.S
Labor Department
Service firms show pickup as hiring rises in March
US service sector expanded in March with ISM index at 53.1, up from 51.6, signaling faster growth as hiring rose 6.1 points to 53.4. New orders climbed to 53.4 while weather disruptions fade, suggesting further improvement into April and a pickup amid a lagging economy.
MENTIONED IN THIS ARTICLE
Washington, D.C
Institute For Supply Management
Paul Dales
Capital Economics
ISM
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