00:00:00
well the Midwest we see a 5% growth and
00:00:03
rents and that's Market rents and that's
00:00:06
because it's affordable so what's
00:00:08
happening right now is that the markets
00:00:11
that we saw the biggest run-ups in the
00:00:14
south Florida Texas are now not
00:00:17
affordable anymore and we're seeing
00:00:19
declines in those markets is also a
00:00:22
surge in Supply in those markets in part
00:00:25
response to the increase in demand which
00:00:27
drove prices up and that Surge and
00:00:29
Supply is also holding rents down so we
00:00:32
will see some relief in the South but as
00:00:35
we can see the Midwest not and overall
00:00:37
prices are rising at a significant rate
00:00:40
which feeds into inflation which feeds
00:00:43
into interest rates which feeds into
00:00:45
mortgage rates the higher the mortgage
00:00:48
rates the more likely that supply and
00:00:50
housing will be constrained as
00:00:52
homeowners are locked in
