Economists were pleasantly surprised Friday when a report showed the U.S. added more than 370,000 new jobs. That’s despite high inflation and increased interest rates.
The director of MTSU’s Business and Economic Research Center says that when interest rates go up, so does demand for rental homes and apartments. He says that could be lucrative for landlords and further increase already high rents.
Some people will be edged out of the housing market, especially since home prices are still high. The median for a single family home in Middle Tennessee is nearly half a million dollars.