Furthermore, with the recent federally mandated switch from using R-410A to R-454B AC units, HVAC prices are likely to rise dramatically.
Meanwhile, asking rents only increased 0.4% year over year as of February.
And this could get even worse with the potential fallout of the new tariffs or further instability in the Middle East.
All this is happening in a market where home prices are still, at least nominally, higher than they’ve ever been, and interest rates are as high as they’ve been since the late ‘90s. And refinancing is usually cost-prohibitive.
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