According to an October 30 article in The Boston Globe, Boston-area rents jumped 4.2% over the past 12 months, the largest increase in 7 years.
Why are rents rising? Because demand for rental units is increasing, partly due to the new tougher lending standards (which have forced many potential first-time homebuyers to continue renting instead) and partly due to the wave of foreclosures (which has forced many homeowners back into the rental market).
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