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Epic Economist, 8/7/25
"Rental Market Apocalypse Begins
As Americans Can’t Afford Insane Prices"
"Landlords are panicking. Rent prices just dropped 10% in 12 months but nobody can still afford them. Rental vacancy rates tripled. Properties sit empty for months. I just talked to a property manager who has to cut his rental price by 100 dollars every week until someone takes it. That's how desperate this rental market crisis has gotten. But here's where the housing affordability crisis gets worse. Jacksonville has 18,000 new apartments flooding the market right now. Developers are offering 3 months free rent, no deposits, even throwing in TVs just to get people in the door. This is creating even more competition for regular landlords dealing with rising mortgage rates.
At the same time, all those people who bought houses in 2020-2022 thinking they'd work from home forever? They're getting called back to the office but can't sell their properties due to the housing bubble. So now they're accidentally becoming landlords and losing 800+ dollars per month, adding even more rental inventory to an already oversaturated market.
And it's not just regular rentals. Phoenix went from 5,000 Airbnbs to over 21,000. Most are sitting empty. Insurance costs exploded 300%. Some owners are getting hit with 30,000 dollar fines from cities. Many are now dumping their Airbnb properties into the long-term rental market, making this rent affordability problem even worse. The result? 70% of Americans are financially stressed in this cost of living crisis and nobody wins in this rental market collapse."
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