A look at home rental payments
The FT writes about some new data on the US home rental market. Some interesting tidbits:
- 79.3% of US households made a full or partial rent payment as of Aug 6 vs 81.2% a year ago
- Executives say the proportion of renters paying with credit cards is increasing
- Luxury apartment payment rentals are struggling worse than the overall market
- Las Vegas rental payments down to 76.8% vs 84.5% a year ago
- LA payments down to 82.9% from 90.4% a year ago
- Only 64.5% of New York and surrounding areas were paying rent through Aug 6
The kicker in all this is that $600/week emergency unemployment payments expired at the end of July so August rent is where the rubber truly meets the road.
