The housing market, to use a highly technical financial term, sucks. But not everyone in the roof-over-your-head game is hurting. People who can't get mortgages rent shifting the whole supply/demand thing in favor of landlords. Seattle had the second highest jump in average rentals for the first three months of 2008, Massachusetts-based Investment Instruments Corporation announced today. The median Emerald City dweller is coughing up $1,211 a month for a place to hang their hat, up more than 10 percent from 2007.
The highest median rent prices were actually not paid in New York, which surprised me, but San Francisco, where those hippies are shelling out $1,810 a month for a place to live. SF also has the fastest rising prices, skyrocketing more than 14 percent in the last year. Though at $1,751 it still ain't cheap to live in the Big Apple.