After 5 Quarters of Decline, Rent Just Went Up

Stabilizing prices might signal ravaged sector has found bottom
By Polly Davis Doig,  Newser Staff
Posted Apr 6, 2010 9:31 AM CDT
After 5 Quarters of Decline, Rent Just Went Up
The good news? Rent just went up. The bad news? Rent just went up. But at least Pearl's not banging down your door.   (Funnyordie.com)

Rents crept up nationally in the first quarter, notching a 0.3% increase that ended five straight quarters of decline in a sector that's been particularly battered by the recession. The vacancy rate—closely linked to unemployment—held steady at 8%, while 60 of the 79 markets surveyed reported higher rents at a time of year that's typically weak, reports the Wall Street Journal. But beware, rejoicing landlords: Recovery looks to be slow. "Rent reductions are not over yet," says one expert.
(More rent stories.)

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