Rents on the Rise, Home Prices on the Fence

CNNMoney says Trulia reports rents in the U.S. rose an average of 5.4 percent June 2011 to this past June, as foreclosed former homeowners and would-be homebuyers turned away by lenders drive up demand. Asking prices on for sale homes only increased 0.3 percent for the same period. In metropolitan areas, San Francisco registered the steepest rent hike in the last 12 months: Rents rose 14.7 percent, while home prices edged up 2.5 percent. Oakland, Denver, Miami and Boston also experienced significant rent increases, from 10.3 percent to 11.2 percent. The rise in rents in those cities makes buying more affordable, but as has learned, home buyers still have to get by the credit squeeze.

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