I recently heard some interesting statistics and I thought I would share them with you. There is currently a 12% national unemployment rate of people aged 20-34 years old and that is one of the factors that is driving apartment vacancy up. We are currently seeing apartment vacancy rates hover around 6.5 to 7% per Mark D. Barry a Real Estate Appraiser in Portland. Many of the young people that are currently unemployed are either doubling up in a rental unit or moving home to live with Mom and Dad, job growth is critical for the renter population and overall apartment vacancy. We hope to see a stabilization of rents in late 2010.
The complete article related to Portland, Vancouver apartment vacancies was featured in the Oregonian. We hope you enjoy the article.
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