What’s more scary, rising rent or rising interest?

What’s more scary, rising rent or rising interest?

What is the real concern right now? Is it the rising interest rate or rising rent? I know there is a lot of debate going on, a lot of conversation going on about rising interest rates because in the last one month it went up a lot. So right now in April 2022, the interest rate is 5%. And it is a concern for a lot of sellers, also a lot of buyers, especially a lot of investors. Now, I think more than that, a major concern is rising rent. 

In Southeast Florida right now, you don't get it even in a decent small apartment for less than $2,000. Yeah, there are some other properties that are cheaper, but those tenants are living there for a long time. What happened if this landlord sells the property or the way the rent is going up, they may discontinue the lease and then get a new tenant for more money. My concern is to see for a lot of families, the may have to downgrade. Maybe two family will go to live in one home to share the rent. because of the way the rent is going up.

A few years back a two bedroom, two bathroom condo used to rent for like $1000 or $1100. Now they're going for $1800, $1900 or $2000. And it's a huge change in the rent price. I'm worried to see a lot of people as homeless or of course, downgrading. Maybe they're living in a smaller home with the kids and family. So that's a major concern about South Florida right now.

What do you think about this interest rate vs the rent? Both are rising. Which one is scaring you to looking at the community, looking at the families out there? Give me some comments. Let's share your thoughts about it. Rising rent, or rising interest rate, what scares all of us more? Thanks for making that comment. And any question you have, you can put it also I'll be glad to make another video on that. Thanks for reading. Thanks for having that concern for the South Florida residents. See you guys guys in another video. My name is Shawn Bhakta from Remax Presidential. Glad to help.

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