The housing rental market is in dire straits, with vacancy rates skyrocketing to the highest levels in half a decade

Cities like Phoenix on the brink of recording all-time high eviction numbers, as a growing number of apartments resort to desperate measures, including offering three months of free rent, amidst an unprecedented construction boom.

The housing rental market is absolutely FUCKED.

We've been reporting cracks in vacancy rates for over 6 months. Its ugly, we're talking highest levels in 5 years ugly.

We're talking so ugly that ApartmentList altered it's measurement methodology to lower the reported vacancy… pic.twitter.com/WEzSj7hcwz

— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) October 24, 2023