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Are Higher Rents Here To Stay?
In economics, what goes up doesn’t always have to come down.
Amidst the intensifying 2024 election cycle, the economy is poised — as usual — to wield significant influence.
Guided by President Joe Biden’s reelection machinery, Democrats are striving to promote Bidenomics, banking on a buildup of favorable economic updates from now until Election Day to offset the preceding three years.
The amalgamation of surging inflation, elevated fuel expenses, and increased living costs has formed a nightmarish economic tempest over the past three years. Given the backdrop of Covid-19, supply chain complications, and the conflict in Ukraine, it’s remarkable that the economic projection isn’t grimmer.
Job figures have showcased positivity. While the employment “creation” leans more towards employment “recovery,” maintaining low unemployment remains heartening.
Still, potential challenges loom on the horizon.
One ominous concern centers around escalating rental prices. The stickiness of heightened rent rates varies based on multifarious factors.
“A Real-Estate Haven Turns Perilous With Roughly $1 Trillion Coming Due,” warned the Wall Street Journal in an ominous headline written by Konrad Putzier and Will Parker on August 7, 2023. “Apartment buildings…