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Thursday, July 7, 2011

Americans expect falling home prices and higher rental rates: Fannie Mae

Rentals rates are determine by supply and demand.  Currently the job situation is so bad I don't see a huge demand in rents.
The average consumer expects home prices to decline by at least 0.5% in the next 12 months, according to a new monthly consumer survey from Fannie Mae.
That forecast reverses the trend from May when most consumers interviewed by the government-sponsored enterprise said they expect at least a slight home price increase in the next year
And the rental rates....
The survey underscores some of the trends taking hold in the housing market, with most Americans expecting a 3.9% rise in rental prices as fewer consumers take the homeownership route. About 44% of the 1,000 Americans interviewed expect rental prices to rise, compared to 39% last year
Read it all

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