By one estimate, U.S. landlords were owed about $57 billion in unpaid back rent at the beginning of 2021. The average household that fell behind owed about four months of rent, or $5,600. Altogether, more than 10 million U.S. families were facing the possibility of eviction.1Continue reading “Crisis Averted? Financial Help for Struggling Renters and Landlords”
Attempting to make comparisons between the structures of countries’ housing markets is a difficult task. Numerous elements must be considered, such as geography, government policies, and demographics, while analysis can be further complicated by an overall shortage of comparable data throughout various countries. Continue reading “Renters Under Pressure Globally”
Manhattan has always been notorious for the superbly high rates of rent which tenants of the New York City borough have had to endure. While there is no indication that Manhattan will cease to exist as one of the most expensive places to rent in the country, for the first time in 24 months, average rent rates on a year-over-year basis actually fell in the borough. Based on a recent report by Douglas Elliman Real Estate, the median rental price has declined by nearly 3% to $3,300/month for Manhattan in March 2016 versus the same month last year and about 2.5% on a month-over-month basis.