Office and home rent will keep rising and rising
Paying rent is getting more painful for renters across the country in the face of rising demand and tight supply.
Both the commercial and residential real estate markets are seeing increases, and more are expected in the months and years to come. Office construction starts were at the lowest level since 1960, the oldest data available from McGraw-Hill Construction; and that means there will be less space available for companies looking to rent or expand their operations. It’s also bad timing for people who have been spooked by, or pushed out of, the residential housing market and have decided to rent instead of buy. Home ownership in the United States is at historic lows, but at the same time rental prices are on the rise.
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