Stirrings in the Rental Market
/aThere have been a few signs lately that the housing market isn't going to be in the doldrums forever.
Sales contracts for previously owned homes rose in October, for example - still much lower than the same month in 2009, during the first tax-credit-induced buying frenzy, but enough to cheer some economists who previously had little to be cheerful about.
On the other hand, there are still a lot of homes for sale and few buyers. Economists seem to agree that job growth is the key to market recovery, and the latest data show that higher employment is just not happening.
Then again, Philadelphia is slightly ahead of the curve, which appears to be helping one housing segment - rental apartments.
When I contacted John…