Reply to Bubble pop in rentals too?

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Reply to "Bubble pop in rentals too?"

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[quote=Anonymous]The condos are going to be competing against all of those class-A apartments that are going up. I would imagine that is going to be a buyer's market for a while. Job growth has slowed significantly, and I would assume the pool of new-to-DC renters is also starting to shrink. Since this is happening at exactly the same time that rental inventory is swelling thanks to all of those cranes the last few years, there is going to be some downward pressure on rents and upward pressure on vacancy rates.

http://www.washingtonpost.com/business/capitalbusiness/dc-area-job-market-is-gloomier-in-crucial-government-and-contracting-sectors/2014/04/18/c2cc9f44-c70d-11e3-bf7a-be01a9b69cf1_story.html

[quote=Anonymous]I rented my beautiful condo for years in Ballston for at or above my mortgage no problem. This past year it sat empty unable to be rented for more than 6 months despite numerous decreases in rent to well below my mortgage. Finally put it on the market in February. Still empty. Been told several other units in my building that were regular rentals had the same problems. Don't know what's going on.[/quote][/quote]

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