Getting Real About Real Estate

The economic crisis is starting to feel like a never-ending series of games of chicken. The stock market plunges until skittish investors simultaneously blink and decide to do some bargain shopping, which sent the Dow Jones soaring yesterday afternoon.

But this game isn’t only being played out on the national stage. Renters in Boston are beginning to feel the squeeze because potential home-buyers are convinced the bottom hasn’t yet fallen out of the real estate market.

We’re delighted we renewed our lease a few months ago, because rents in the Boston area have risen 4.2 percent from the third quarter of last year. Experts say the spike is due to a high number of foreclosures sending homeowners back to apartments.