Budget cut loser #4: the renter

The upcoming state and local budget cuts will create more distressed home owners, increase the challenges for home sellers, hurt some real estate brokerages, and extend our buyer’s market.

The budget cuts will also hurt renters.

How? The cuts are reducing the demand for homeownership. Many would be buyers are choosing to remain renters, either out of necessity or fear. This will continue to drive rental vacancy rates lower. As the demand for rental housing continues to increase, apartment owners will raise rents due to a relative scarcity of rental housing in the Madison area.

One person’s loss is another person’s gain. In this case the multifamily investor will benefit greatly from the upcoming cuts.

Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com

www.HowWeHelpYouSell.com

www.HowWeHelpYouBuy.com

www.OurRecentSales.com

www.DaneCountyMarketSnapshot.com

www.SearchDaneCounty.com

www.DaneCountyForeclosureSearch.com

About Dan Miller, RE/MAX Preferred

Madison WI real estate agent with RE/MAX Preferred and the Mad City Dream Homes real estate team. Visit me at MadCityDreamHomes.com.
This entry was posted in Buying real estate, Dane County multifamily real estate, Investing, Real estate trends. Bookmark the permalink.

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