Renters beware: Double-digit rent hikes may be coming soon amid rental vacancy rates that have dipped below the 10 percent mark, where they had been lodged for most of the past three years.
“Young people are starting to get rid of their roommates and move out of their parent’s basements,” said Peggy Alford, president of Rent.com, predicting the vacancy rate will hover at a mere 5 percent by 2012. With fewer units on the market, prices will explode. Get the full story »
