Looking Back at 2022 Predictions
Posted by Michael Perna on
In December of 2021, Michael Perna released a video giving his predictions on what we would see take place in the real estate and financial markets of 2022, but how close was he after all was said and done? In this article we’ll take a look back at 8 predictions versus what the actual outcome was.
Rent Prices
Prediction: Rent costs will continue to rise in 2022.
Actual: True. Rent costs increased dramatically across Metro Detroit and the United States as a whole throughout 2022 before beginning to slightly decrease in Q4 in some areas.
There are several factors that can cause rent prices to increase with the largest contributors to increasing rent prices seen in 2022 being skyrocketing home values, high inflation and low inventory…
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