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Rants & Gems Real Estate Podcast

Current Rental Affordability

Rants & Gems Real Estate Podcast

EYL Network

Business, Investing

4.91.3K Ratings

🗓️ 25 October 2022

⏱️ 5 minutes

🧾️ Download transcript

Summary

Clip from episode 69 breaking down the current rental climate. Data provided by Zillow 



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Transcript

Click on a timestamp to play from that location

0:00.0

Now, let's talk about one of our favorite topics is rent to income, right?

0:03.8

Ladies and gentlemen, landlords will win in any market.

0:07.6

We've said this all the time, and now rent to affordability.

0:13.0

And this is why real estate is probably one of the best tools that you have to combat inflation

0:21.1

because inflationary times that we have been living in since the pandemic,

0:25.9

aka the pandemic started two years ago, as we see house prices rising,

0:31.1

where owners of real estate are winning, and you see rent to prices are rising,

0:37.0

all at the same time, who's winning.

0:39.6

Rent to arm landlords, homeowners, people who have rental properties.

0:44.2

So guys, although rent growth is moderating, rapid increases throughout the pandemic

0:49.8

have drastically reduced rental affordability.

0:52.5

Zillow and shout out to Zillow for all his data today.

0:55.7

Zillow's rent index pegs typical US rent at $2,084 a month.

1:01.6

That's crazy, with 10% annual growth in September,

1:05.2

down from the record breaking peak of 17.2% in February.

1:09.1

So the month of the month, the growth has declined to a more normal rate of 0.3% from its peak

1:16.2

of 2.2 that we've seen in July 2021.

1:20.0

Now, here we have, Miami is up 51%, down.

1:25.2

Since September of 2019, Miami is up 51%, 49% in Tampa, and 43% in Phoenix, Arizona.

1:36.0

Landlords are winning, ladies and gentlemen, this is why you need to get some rental properties.

1:42.1

They are, and what I'm noticing, and most people talk about the rates,

1:45.1

but we're forgetting that there's a lot of cash buyers or people

...

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