Rents Falling in Some Pandemic Hotspots as Economic Uncertainty Keeps Renters in Place
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Rents falling in some pandemic "Zoomtowns" like Augusta, GA (-15.2%), Lincoln, NE (-14.4%), and St. Louis, MO (-13%)
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Economic uncertainty causing renters to stay put and landlords to lower prices
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Median 1-bedroom rent down 0.4% nationwide in October to $1,505
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"Sunbelt slowdown" as rents fall fastest in cities like Miami, Phoenix, and Austin
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Mortgage rates near 8% making homeowners reluctant to give up cheap deals, becoming "accidental landlords"