While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled.
The latest data from rental search platform Apartment List shows that, nationwide, the rental market may have recovered from COVID-19.
The other is the continued out-performance of cities like Boise, mid-sized cities that have attracted thousands of new residents who became untethered from their offices during the COVID-19 pandemic.
“Our year over year growth rate right now is at 2.3%…that’s actually higher than year over year growth rates in April 2018 and just below those rates from April 2019.
It’s the rapid and sustained growth in markets like Boise, Fresno, Spokane and Toledo that’s making up for losses in the superstar cities and painting a rosier nationwide picture.
He shared some broad takeaways from an upcoming Apartment List survey of employees and found that around half will be working at least partially remotely and a significant number expect to have full geographic flexibility.
Salviati noted, however, that those cities still hold appeal as career launchpads, and have the added bonus of simply being hubs of culture, food, fun and community that are hard to find anywhere in the world.
From a mortgage professional’s perspective, Salviati believes these rental trends are illustrative of where the purchase market will likely turn in the years to come.