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[Discussion] Rental Markets Across The States

What are rents looking like in your local cities? Is it going up? Is it going down? Staying the same?

What are everyone's prediction (yes, I know it's hard to predict because the situation we find ourselves in is unprecedented) on where the rental market will go moving forward?

What is everyone's guesses on what that rental market will mean for RE?

Personal anecdote for me - rental markets in the Bay Area have taken huge beatings. I know friends who have leveraged the current situation to get themselves into cheaper leases (often times 10-25% discounts on what they normally would find, and 1-2 months off). I know friends who have left the Bay Area, and are unsure whether or not they want to come back. I know friends who have been trying to find subletters/subleasers/renters who have had to put out their listings for 1-2+ months constantly, and are having a hard time finding someone to come in. Having to make major concessions compared to what it was like before.

My guess is that this will definitely trickle and impact RE prices, specifically in SF, as leases tend to get signed right around now to around September traditionally (peak times). As people exit their leases and don't sign, and we get an influx of rentals with no one to occupy them, landlords/investors will start getting antsy. It might take time, but my personal market forecast (everyone keeps saying sale volume is up MoM! Real estate market is saved!) is that SF real estate is looking at a gloomy downturn.

submitted by /u/BayAreaExpress
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source https://www.reddit.com/r/RealEstate/comments/hiflcu/discussion_rental_markets_across_the_states/
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