US - Rents are rising ‘ominously’ fast as tenants see biggest increase in 20 years - October 13, 2021

[sharon sanders]

Rents are rising ‘ominously’ fast as tenants see biggest increase in 20 years

Last Updated: Oct. 13, 2021 at 2:41 p.m. ETFirst Published: Oct. 13, 2021 at 1:00 p.m. ET
By
Elisabeth Buchwald


Owners’ equivalent rent, what homeowners would receive from renting their home, rose by 0.4% — the fastest one-month rise since 2006.

more..

https://www.marketwatch.com/story/r...-to-some-economists-11634144455?mod=home-page

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I personally know someone who has paid $1050.00 monthly base rent for the last year on a lease. The apartment company asked for $1220.00 to renew. This is a 16% increase in one year. The renter declined and is moving out. Now the apartment company is asking for $1603.00 for that unit with new appliances to replace the aged ones. This is a 53% increase in one year!

Wow!

 

[Emily]

https://www.4029tv.com/article/cons...cing-evictions-in-northwest-arkansas/37614103
Consul General says many Marshallese families are facing evictions in Northwest Arkansas
Updated: 5:42 PM CDT Sep 15, 2021
Kendall Ashman
Reporter/Multimedia Journalist

SPRINGDALE, Ark. —
The Consul General for the Republic of the Marshallese Islands said many people in the Marshallese community are facing eviction notices in Northwest Arkansas.

The Marshallese Education Initiative said they are overwhelmed with new rental assistance applicants.

They said this is largely due to the federal moratorium ending in August.

“Now that the moratorium has ended, landlords are doing evictions and there is basically no mercy for these tenants,” Marcina Langrine, Marshallese Education Initiative said.

Marcina Langrine said many people need help filling out the applications.

“A lot of the Marshallese don’t know how to fill out the applications, they don’t have the electronics to help them,” Eldon Alik, Consul General for the Republic of the Marshall Islands said.

Alik said many people have fallen behind on rent due to quarantining throughout the pandemic. He said the majority of Marshallese work in the poultry plants.

“Some of them end up four weeks maybe more in quarantine, so all that income is gone,” Alik said.

He said COVID-19 has rocked the community.

“The worse part was when people were almost dying every day, that was the worse part,” Alik said...