Rent Prices Continue to Rise Faster than Asking Prices

Each year, rent prices, as well as asking prices, increase. This year specifically, rent prices rose faster than asking prices at 5.1%. Houston had the top rental market increase at 16.5%. Other metro cities such as Miami and Oakland are close behind.  A few cities, such as Chicago, did see a decrease in asking prices but still experienced higher rent prices in the same year. 69% of metro markets saw an increase in asking prices.  The problem with both of these numbers increasing is that not only can renters barely afford to pay rent, they almost assuredly cannot afford a down payment on a home.  Although there is concern regarding the U.S. housing market, it was not a hot topic of the 2012 presidential election because the costs are rising on their own without any forced regulation by legislation. Read the full article here:  http://www.dsnews.com/articles/rent-prices-continue-to-rise-faster-than-asking-2012-11-05