Do we think rents will start to come down in the next 6-8 months? I noticed a lot of newer full-amenity buildings in LP / RN / WL are asking 2.5k for convertibles, 3k+ for 1ba/1ba (700sq ft) and 5k+ for 2br/2ba apartments. Like who is renting these at those prices?! 😩

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I wonder the same, not sure how folks
afford these places. I am assuming room mates and DINKS. Either that or I need to do what they do.

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And they keep building them too, and prices just go up… :(

I don’t see rents decreasing anytime soon - but likely will not go up. Rental prices tend to mirror housing prices. Right now housing is stabilizing and prices are not continuing to skyrocket. It is still unlikely that it’ll go down as the demand for housing will still outpace the supply.

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that may be the high end (full amenity buildings) - but there is definitely more affordable inventory.

Honestly a lot of ppl were trying to buy and got priced out. They are the ones messing up the rental market and paying these absurd prices. And by they, I mean me 😅

I Was lined up to buy and some shady stuff happened with seller. I had told landlord I wasn’t gonna renew, so was stuck with market pricing on a different unit in the same building. Just a cluster overall.

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