Ouch! Rents jump 12%

rental prices up 12%Sometimes the news just gets worse.  First, millions of Americans who were ripped off, lied to, and sweet talked into mortgages they never should have been in, have had their homes foreclosed on. 

The natural consequence of this tragic occurrence is that these families still need a place to live, and that means for the time being renting. 

Well looks like the increased demand for rental properties have pushed the average rent up by 12%.  Unfortunately, this trend is expected to continue as the foreclosure debacle is far from over, and there will be many more families in the same situation in the near future.

Check out the details on the dynamics of how and why home prices have declined, while rents have increased here.

"The cost of renting a place to live rose sharply last year: The average rental price rose almost 12% in 2010 while the average price of homes for sale dropped about 10%"

What does this mean to you?  To qualify for the best rental rates, or even to have the hope of qualifying to purchase a home at the current discounted rates you must do all that you can to improve your credit and raise your credit score.  Lucklly, our attorney's and professionals have been helping tens of thousands of clients for more than 8 years with credit repair.  Please know that if you need assistance, we are standing by to help.

About Anthony Candella

Anthony is the founder and Directing Attorney of YourCreditAttorney.com and has been helping consumers just like you understand and improve your credit and financial situation since 2003.