When there are fewer home buyers, there are more renters. When the demand for rental units increases, so does the cost to rent. With increasing rents, decreasing home prices and low interest rates come cash flowing properties for rental property investors.
This year I have seen many entry level single family homes in Salt Lake City and the surrounding suburbs, that will cash flow with 20% down. It’s the first time I’ve seen this scenario in a very long time and it’s due to higher rents, lower home prices and low interest rates.
As this trend continues I”d expect that this will contribute toward an increased demand for Salt Lake City homes.
Kevin Coyle
SLC Homes
M: (801) 243-0699