The Real Deal Miami

Rental market sees shortage of one-bedrooms

March 03, 2011 05:31PM

More Americans are renting rather than buying these days, Peggy Alford, president of rental listings website Rent.com tells the Dow Jones’ Dawn Wotapka in the video above from the Wall Street Journal. “People still do want that white picket fence, but sometimes it’s OK to rent that fence instead of owning it,” Alford said. She also noted that when times were worse, people shacked up with roommates to save money, but now, “we are starting to see a lot of deconsolidation,” leading to a shortage of one-bedroom rentals on the market, she explained. Though renters can no longer get concessions in most places, areas like Phoenix and Las Vegas are still offering bargains due to high vacancy rates, Alford added.