Rents are Rising

Rents are going up, reports the NCTimes.

Surprise!

Renters have had a long period of low rents, as Landlords made their Return on Investment on home appreciation.

Now that the appreciation source is no longer available, Landlords need to make their ROI through rents.

The rule of thumb for most parts of the country calls for rents to be 1% of home value per month — and in San Diego that would mean $3,000 monthly rent for a $300,000 home.

In general, such a home rents today in Hidden Meadows for about $1,500 a month. I doubt we will get to $3,000 a month EVER, but…