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<\/a>Photo via Josh Gutmaker<\/p>\n\nFinancial Crisis to Today<\/h2>\n
Financial Crisis to Today<\/h2>\nEver since the financial crisis and recession<\/a> began over four years ago, our country has increasingly become a nation of renters. Home ownership peaked at 69% during the housing boom only to decline rapidly to a now 15-year low in 2012. Will 2013 turn the tides back, as interest rates<\/a> stay low and the job market improves? Or have the volatile markets this past decade turned an entire generation away from real estate investments? What new surprises will 2013 bring?<\/div>\n<\/div>\nHere at RentHop<\/a>, we see a broad cross section of the rental inventory and what real estate professionals are doing to price and market their listings. With that, we are happy to present RentHop’s Eight Predictions for the rental market in 2013:<\/div>\n<\/div>\nRentHop’s Eight Predictions for 2013<\/h2>\n\n1.) Rents will continue to rise as the economy improves and demand increases.<\/h3>\n— Current tenants will see large rent increases this year in most cities.<\/div>\n— A stabilizing job market will push up demand for housing.<\/div>\n— More younger adults will find jobs and leave home to acquire their own housing.<\/div>\n2.) Inventory will be much tighter than the last few years.<\/h3>\n— Finding great deals in desirable locations will be harder than ever.<\/div>\n— Most advertised apartments will be very bad deals in competitive cities and renters will have a difficult time wading through low quality supply.<\/div>\n3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n— The record low interest rates from the last several years pushed many people into purchasing homes for residence or investment.<\/div>\n— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
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Here at RentHop<\/a>, we see a broad cross section of the rental inventory and what real estate professionals are doing to price and market their listings. With that, we are happy to present RentHop’s Eight Predictions for the rental market in 2013:<\/div>\n<\/div>\nRentHop’s Eight Predictions for 2013<\/h2>\n
RentHop’s Eight Predictions for 2013<\/h2>\n\n1.) Rents will continue to rise as the economy improves and demand increases.<\/h3>\n— Current tenants will see large rent increases this year in most cities.<\/div>\n— A stabilizing job market will push up demand for housing.<\/div>\n— More younger adults will find jobs and leave home to acquire their own housing.<\/div>\n2.) Inventory will be much tighter than the last few years.<\/h3>\n— Finding great deals in desirable locations will be harder than ever.<\/div>\n— Most advertised apartments will be very bad deals in competitive cities and renters will have a difficult time wading through low quality supply.<\/div>\n3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n— The record low interest rates from the last several years pushed many people into purchasing homes for residence or investment.<\/div>\n— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
1.) Rents will continue to rise as the economy improves and demand increases.<\/h3>\n— Current tenants will see large rent increases this year in most cities.<\/div>\n— A stabilizing job market will push up demand for housing.<\/div>\n— More younger adults will find jobs and leave home to acquire their own housing.<\/div>\n2.) Inventory will be much tighter than the last few years.<\/h3>\n— Finding great deals in desirable locations will be harder than ever.<\/div>\n— Most advertised apartments will be very bad deals in competitive cities and renters will have a difficult time wading through low quality supply.<\/div>\n3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n— The record low interest rates from the last several years pushed many people into purchasing homes for residence or investment.<\/div>\n— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
— A stabilizing job market will push up demand for housing.<\/div>\n
— More younger adults will find jobs and leave home to acquire their own housing.<\/div>\n2.) Inventory will be much tighter than the last few years.<\/h3>\n
2.) Inventory will be much tighter than the last few years.<\/h3>\n— Finding great deals in desirable locations will be harder than ever.<\/div>\n— Most advertised apartments will be very bad deals in competitive cities and renters will have a difficult time wading through low quality supply.<\/div>\n3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n— The record low interest rates from the last several years pushed many people into purchasing homes for residence or investment.<\/div>\n— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
— Most advertised apartments will be very bad deals in competitive cities and renters will have a difficult time wading through low quality supply.<\/div>\n3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n
3.) More rental supply will come from individual owners of condos, houses, and co-ops.<\/h3>\n— The record low interest rates from the last several years pushed many people into purchasing homes for residence or investment.<\/div>\n— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
— Many individual real estate investors now hope to sublet the apartments to fund their holding costs while they wait for the housing recovery.<\/div>\n4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n
4.) Urban areas such as New York City and Boston will become much more reliant on brokers.<\/h3>\n— Lower supply, more competitive apartment hunting, and more small-time mom & pop landlords are all conditions that favor professional real estate brokers.<\/div>\n— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n— We are shifting into a new paradigm for apartment searching, leveraging mobile apps<\/a>, map-based searching, and social media<\/a>.<\/div>\n
— Attempting to find an apartment without a broker will be increasingly more frustrating in New York City<\/a> and Boston<\/a>.<\/div>\n5.) Generic classified columns such as Craigslist and newspapers will be less relevant compared to richer, more locally specialized search engines.<\/h3>\n