It's A Renter's Market

[flip_it_fast]

These days- it's a renter's market. According to an industry report, there haven't been this many rental apartments vacant in more than thirty years! The recession is the main reason for this. People are choosing to move back into their families homes because they cannot afford the rent anymore, even if it is cheaper than normal.

Thats bad news for them but good news for those who are seeking a rental. Right now you can get a pretty good deal on the cost of rent.

With so many apartments sitting empty, landlords have had no choice but to lower the cost of rent.

"Household formation rates slow down during recessions," said Severino. "They may move in with their families or rent larger apartments and partner up with friends. They partner with others much more then they do during more prosperous times."

cnn money

So if you have been considering renting or know someone who is, know that you do have some negotiation room as far as what you are willing to pay for rent.

[luv2flip]

For the area I live in I have not seen rent going down, I have seen it go up more.

[Eyeofngt]

Same here Luv2flip!! I wish the rent would come down here, it would help alot. But I do not see it happening right now. Maybe it is because we are near the beaches and this is a tourist town.