After 5 Quarters of Decline, Rent Just Went Up

Rents crept up nationally in the first quarter, notching a 0.3% increase that ended five straight quarters of decline in a sector that's been particularly battered by the recession. The vacancy rate—closely linked to unemployment—held steady at 8%, while 60 of the 79 markets surveyed reported higher rents at a time of year that's typically weak, reports the Wall Street Journal. But beware, rejoicing landlords: Recovery looks to be slow. "Rent reductions are not over yet," says one expert.
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