Why Is Renting A Home In Dallas More Expensive Than An Apartment?
Apartment rent growth stands at 6.7%, according to Realpage. But rents on certain securitized homes are growing at 8.4%, according to Morningstar. These elaborate securities, which were born out of the housing crash, paved the way for a product that allows firms to secure rent from hundreds of homes and pay investors monthly in the form of bonds. When Wall Street created the first of these securities two years ago, many questioned how these firms would operate as landlords, especially relating to upkeep on properties and price gouging. The Dallas Business Journal calls the figures "troubling" as the rise in rent for both apartments and securitized rental homes outpace the increase in salaries projected for 2017 in Dallas. [DBJ]