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Rent Is Too Damn High! Why Is Rent Soaring
I recall a recent candidate in New York that ran on a platform that "rent was too damn high!"  Well perhaps he is right!  Please read the attached article which is a well written piece by Alejandro Lazo from the L.A. Times on why rent is going up!
 

Jimmy McMillian Candidate for Mayor in New York "Rent is too damn high"
 
Rents Soar!!!!!

From Alejandro Lazo at the LA Times: Rents soar as foreclosure victims, young workers seek housing
The foreclosure mess has pushed millions of former homeowners with tarnished credit into a competitive apartment market across the U.S. Add fresh demand from young workers, few new units and tight standards for home loans, and the result is rental sticker shock not seen in years.Rents are surging from New York to Los Angeles. The average monthly U.S. rent for apartments hit $1,008 in the first quarter, pushing past the all-time high set in the third quarter of 2008, according to the data firm RealFacts. USC's Lusk Center for Real Estate forecasts a 10% jump in Los Angeles County rents over the next two years. In certain markets, it is now cheaper to own a home than rent. ... more

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