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New renters a paying more than ever

Today on the Southern California Real Estate Report we talk about a new study from the Bureau of Labor Statistics that shows a growing gap between new renters and existing renters.

In current market conditions new renters are paying a lot more to rent that same units compared to renters that have been have lived in the same place for a period of time.

There appears to be more movement in the market as things shift from pandemic days.

"data show gap among new and existing renters." Union Tribune. Somesh JHA, July 12, 2022. Online