rents going up

[Steven Taylor]

For those of us that have been doing this for a long time (25) years its crazy to see how much the rents have gone up in the last 5 years. When I started I had a 2 bedroom for $495 a month it took 20 years to get that rent to $575.  Now in the last 5 years have gone to $895 

I have houses that was $500 now $1300 

Will we ever see this kind of inflation again? 

To be honest I dont think the rents have maxed out just yet. 

[Erin Spradlin]

@Steven Taylor - So many thoughts on this. 
I think that the rent prices will continue to go up because, unfortunately, fewer and fewer people have control of the rental market/own investments. In places like NYC, where the rental vacancy rate is below 1%, all the power is with the landlord and this will drive prices up. I think we will see this more and more throughout the United States.

I also believe the nature of renting is changing. Specifically, I think midterm rentals / furnished rentals, are going to become the norm rather than the exception. I think we are already starting to see that shift, and that midterm rentals will grow in popularity not only with travelers but also with local tenants. If I had been more aware of/presented as an option a furnished rental when I was 20-30 years old, I definitely would have taken it.