Why would renting become cheaper? Most people have told me that there will be less people buying so more are renting, therefore rental prices go up. Right?
The number of households artificially increased as a result of student loan payment deferments and the general COVID free money bonanza. More households = more rental demand = higher rent.
Expect that to revert to the mean (people move back in with their parents, get roommates) if this is a long, deep recession. Less demand = lower prices.
Expect that to revert to the mean (people move back in with their parents, get roommates) if this is a long, deep recession. Less demand = lower prices.