Roy Cabrera Home Mortgage Specialist

Happiness is the highest level of success

Coronavirus pandemic cuts rent growth to a decade low: Back in February, just before the coronavirus hit the U.S. economy with a vengeance, rent growth for single-family homes had hit its highest pace in four years. Barely three months later, that growth plummeted to a decade low. ... Single-family rents grew just 1.7% annually in May on a national level, according to CoreLogic. "Some metro areas, especially those that depend on tourism, were hit hardest by job losses. With unemployment rates predicted to remain high through the end of the year, we can expect to see further easing in rent growth as the economy struggles this year." Honolulu, whose economy relies heavily on the tourism market, was the only major city to see rents decline annually, down 0.4%. Rent demand is based on employment, so cities that have lost more jobs are seeing rents slow the most. See more

Happiness is an inside job!