Signs are growing that Airbnb hosts are selling their properties or renting them out in the apartment market.
It's happening a fair bit: great tenants with no intentions of moving are being served N12 forms by their landlords, a legal notice which provides them with 60 days' notice to vacate the premises. And it's entirely lawful for the landlord to do this, as long as they meet some very specific conditions and act in "good faith."
Some renters are going to extremes to snag (and keep) the apartment they want: paying a full year's rent in advance, delivering their application with a bottle of wine, or offering to paint the walls and replace the cruddy carpet on their dime.
Prices are up 8% in the prior 12 months vs historical 6%. Inventories are tighter than last year, especially for small, lower priced homes. In 2016, we expect 8-9% appreciation, flat unit sales volume increases, and continued tight inventories.
The rising cost of housing in U.S. cities like San Francisco and New York is a well-known problem. Flying under the radar: an affordable housing crisis is growing in every state in the union.
The U.S. Census Bureau deems "30 percent rule" a guideline for the portion of income a family can spend for rent and still have enough left over for other nondiscretionary spending.