One of the largest cities in the Bay Area is facing a sharp rent increase and some local leaders are fighting back, saying the timing is terrible.
But property owners here say their costs are going up, too.
"You also have a housing stock that's older, that really needs a lot of maintenance," said Derek Barnes, CEO of the East Bay Rental Housing Association. He added that the owners his group represents are also being hit by inflation, but on different goods and services. "There has also been an extraordinary increase in everything: water, gas, electric, sewer, repair services, equipment, appliances, plumbing,” said Barnes.
NBC Bay Area’s Business and Tech Reporter Scott Budman follows the housing market closely and has the breakdown.
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