TPN report: Residential rental vacancies at historic lows
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GUEST – Waldo Marcus, Industry Principal at TPN Credit Bureau
Residential rental vacancies are at their lowest level since 2016 as demand for rental property outstrips supply amidst declining home ownership, according to TPN Credit Bureau’s latest Vacancy Survey Report for the first quarter of 2024. A greater number of households are renting as high interest rates continue to make ownership unattainable for many people, says Waldo Marcus, Industry Principal at TPN Credit Bureau, an MRI Software company. He expects that the trend towards renting as opposed to homeownership will remain in place while interest rates remain high.
Residential rental vacancies are at their lowest level since 2016 as demand for rental property outstrips supply amidst declining home ownership, according to TPN Credit Bureau’s latest Vacancy Survey Report for the first quarter of 2024. A greater number of households are renting as high interest rates continue to make ownership unattainable for many people, says Waldo Marcus, Industry Principal at TPN Credit Bureau, an MRI Software company. He expects that the trend towards renting as opposed to homeownership will remain in place while interest rates remain high.