Average apartment rents jump 8% in year

The secret's out ... now everybody knows it's better to rent than to own.

Here come the bears with stories of 3 months free rent.

RS, you project way too much...

This data is wrong. Rents are going down. They have to go down. Everything says they should go down. Rent simply, emphatically, cannot and will not increase. At least that's what I've learned by readings on the Streeteasy discussions board.

Rents are relatively fl at this month vs. last – up only .40% overall. Yearover-
year comparisons show prices up 8.01% on average. The largest
changes vs. 2010 numbers were in doorman studios, which were up
10.31%.

Asking Rents Stay Flat - Rental prices remained relatively flfl at this month vs. last – up .40% overall. Doorman onebedroom
units saw the largest gains, increasing by 2.11%, while the largest declines were in doorman studio units,
down 1.75%.
Inventories Continue Winter Climb - In keeping with seasonal trends, inventories crept up again this month by 3.68%.
Non-doorman units were up 6.17% while doorman unit inventories rose by 2.41%.

So what's the take here. Kids get jobs, don't have the time to shop and/or parents help out?

The take is NINE MONTHS FREE RENT!

" according to the monthly Manhattan Rental Market Report by brokerage The Real Estate Group NY."

yet another unimpeachable source.