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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: patron_anejo_por_favor who wrote (30390)4/11/2005 8:36:12 PM
From: russwinter  Read Replies (4) of 110194
 
Another Wizard smoke and mirror core CPI trick, housing equivalent rents, is now disappearing:

Report: Lower vacancies lift rents

Study finds slight decrease in 1Q apartment vacancy rate, higher rents in large markets.
April 11, 2005: 7:39 AM EDT

NEW YORK (CNN/Money) - Apartment vacancies nationwide are falling and rents are rising, according to a published report Monday.

The Wall Street Journal reported that the vacancy rate for the top 64 metropolitan apartment markets in the U.S. edged down to an average of 6.6 percent in the first quarter, from 6.7 percent in the fourth quarter. The vacancy rate was at 7.1 percent in the year-earlier period. The rates were compiled by Reis Inc., a New York-based real-estate research firm.

The firm also found effective rents, the rents that landlords actually collect as opposed to what they ask for, rose an average of 0.6 percent to $882 a month in the first quarter, after rising 0.3 percent in the fourth quarter and remaining flat in the year-earlier quarter.

Reis CEO Lloyd Lynford told the paper that while the drop in vacancy rates seems small, it's an important change given that vacancy rates rose in the first quarter of the past few years.

money.cnn.com
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