Part 7/9:
Interest in renting is also seeing varied responses based on geographic locales. In Austin, Texas, rents plummeted by 22% as oversupply from earlier years met the current economic slowdown. While construction boomed post-COVID, the rapid growth in available rental units is not aligning with demand, an imbalance that investors may not have anticipated. Meanwhile, in New Jersey, rent decreases have also been reported, although less dramatically.