Thursday, December 9, 2010

Paging Paul Krugman: Rent Prices Climbing

U.S.: NAR: Apartment rents set to rise, fueling inflation

VIRGINIA: Rents rise, vacancies drop for apartments in Hampton Roads

COLORADO: Apartment rents continue to rise

WASHINGTON: Seattle apartment vacancy rate drops

NEW JERSEY: Fewer apartments for rent could drive up prices at the Jersey Shore

RENTAL HOUSES: Denver metro vacancies for homes, condos to rent at lowest since 2001

Hi Paul,

I'm sure there is an easy deflationary explanation for this. Paul? Uh, Paul?



  1. Not that I ever would get in between a reality-baton and Krugman, but what does he have to do with this? People are losing/being screwed out of their jobs and homes -> rental property is more in demand -> rents go up.

    Am I missing something?

  2. Nah... in Paul-Krugman's deflationary circumstances prices of rent would go down too. Sure, some folks will have to move from their homes to rental apartments, but that alone doesn't do it. Mostly because all the previous people living in rental apartments are moving out of those (some move back in with their parents, some will look into roommates (2-3 people renting 1 apartment instead of 2-3).

    All in all, prices are going down... at least according to dumbass Krugman.

    Seriously... Paul?? Helloo? What's up Paul?