With housing prices soaring, an unlikely person is benefiting: landlords.
Since 2009, rental vacancies have fallen from 11 to 7 percent, a side effect of the rising costs of owning a home, according to Matt Phillips for Quartz. This has essentially eliminated rental vacancy rates in the past couple of years.
With fewer vacant apartments available, the costs of apartments have also skyrocketed in a devastating chain reaction that’s causing problems for the people who originally moved into apartments because they couldn’t afford a home, Phillips reported.
And through it all, landlords are the ones benefiting. Since vacancies fell, rental income has skyrocketed, which doesn’t even include the proprietor's income.
Check out the graph from Quartz below to see just how much landlords are earning from the economic crisis:
Shelby Slade is a writer for Deseret News National. Email: email@example.com, Twitter: shelbygslade.