The firm’s Sales Director discussed how aspiring South Florida homebuyers are having a tough time competing with cash buyers in a new article from Sentinel reporter Amber Randall. That is leading more people to rent, which in turn is driving up rental rates.
Rents are rising as homebuyers get priced out of the market
Unless you can drop a pile of cash on the table, you may get squeezed into renting in South Florida’s crazy homebuying market
“That might be an apartment, a townhome, a condo, a single-family home or even an AirBnB, said broker Kaley Tuning of Native Realty in Fort Lauderdale.
Some first-time homebuyers, without the cash to buy a house in full, have turned to short-term renting or even yearly leases as they wait for the market to cool down.
“If they are wanting to purchase a home, they would be willing to lose a deposit to make sure they secure a place,” Tuning said.”