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Rents Go Up Across America

Last weekend saw the release of a report that showed rents were rising across the United States, and are set to continue rising as housing costs go up and more people choose to rent instead of buy. It is generally known that renters of apartment have less money, but that hasn?t stopped landlords ? who in past years suffered from a dearth of tenants, often resorting to dispensing with free gifts to get people to rent ? from raising the price of the average monthly rental costs.

Predictions of the bursting of a housing bubble in the U.S. have largely not come to pass, though over-priced homes throughout the country are said to be driving away buyers during what would normally be a brisk home-buying season. Summer is the time when most people have some free time and children have the ability to adjust more easily to a new neighborhood, but instead people aren?t buying ? they are either choosing to rent when they make a move, or simply stay put in the homes they have now.

Even if home sales were to pick up toward the end of the year, it is likely that rental costs will continue to rise. Rents have not only gotten more expensive in one of the most costly real-estate markets in the world, such as New York, but have risen in keeping with regional and national trends across the board. What the rise will mean for new renters ? or those who live in homes where the rent can rise after each year of tenancy ? is that tighter budgets may be the order of the day until the trend stops.