Nick Gerli: Rents in hard-hit cities like Austin, Las Vegas, and Phoenix are down 6% in the last year, with taxes, insurance, and interest costs rising. This could lead to forced selling in H2 2023.
Rents are dropping. 📉 Hardest-hit cities include Austin, Las Vegas, and Phoenix, where rental rates are down -6% over the last year. Meanwhile – taxes, insurance, and interest costs are up significantly. Cocktail that could mean forced selling in H2 …