So what is the state of the rental market in Jacksonville?
We had the fastest rise of interest rates in the last 40 years — and in real estate, of course, and especially in rental properties, that can have a dramatic effect. And prices have risen 15% to 20% for consecutive years here in Jacksonville, and so that really creates a challenge for affordability, which affects demand. But then on the other side, and what doesn't get talked about a lot, is you still have an under supply of housing here.
The answer to affordability is density. And so from a from a policy perspective, from a housing perspective, we can create ways to create more density that solves the affordability crisis. We have a tremendous amount of opportunity here in Jacksonville. We have a lot of land compared to other markets, so if we can work on ways to create more density, that's really the key to making sure that home prices stay affordable.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Source: DallasBizNews - 🏆 525. / 51 Read more »