Pittsburgh Landlords - Are you having to decrease rents(02/2016)?

[Ian M.]

For those that invest in Pittsburgh - are you still getting the market rent you were a year or two ago?  Or have you found yourself decreasing them lately?  Granted its the winter and its always tough now, but I'm curious to get a pulse on the market of late as I, and several other landlords I'm aware of, have recently had to drop rents substantially.  If you have, any thoughts on why rental rates are dropping?

[J. Martin]

Originally posted by @Ian M.:

For those that invest in Pittsburgh - are you still getting the market rent you were a year or two ago?  Or have you found yourself decreasing them lately?  Granted its the winter and its always tough now, but I'm curious to get a pulse on the market of late as I, and several other landlords I'm aware of, have recently had to drop rents substantially.  If you have, any thoughts on why rental rates are dropping?

 From a higher-level perspective, job growth is slowing in Pennsylvania, economic conditions seem to be becoming more volatile, and it looks like the rate of home price appreciation may be slowing.. Perhaps the leases signed when job growth peaked last year were a bit of a bump up from other periods.. ?