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Malta, Illinois | That is a pretty good assessment of things. It used to be that rental houses were for those who were only going to be in the area for a short time, very young people, or those who were poor and couldn't afford to buy a place of any kind. Now, the rental market is so hot that the cost of rent has priced those people right out of the market. I'm not sure exactly how all of this has happened but I would guess it goes back to people not managing their money well. Now we have those who can afford to own a home, those who can afford to own a home but choose not to for whatever reason, those who cannot afford to own a home but can still make the rent payment on a decent place, and those who cannot afford any of that and rely on public housing. | |
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Rental house market
