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Monroe County housing rentals explode in 2011

18.05.12

Rentals of homes in Monroe County increased dramatically in 2011 as owners, unable to keep up with rising taxes and community fees, abandoned them for a cheaper alternative.

In 2011, 705 residential leases were written in the county, a 42.5 percent increase over 2010, according to Pocono Mountains Association of Realtor data.

"It's the person who walked away, couldn't afford the taxes and association dues," said Tom Wilkins of Better Homes and Gardens Real Estate Wilkins & Associates.

"People have lost their homes through short sale and foreclosure. It hurts their credit rating, so they can't buy another house. They go from homeowner to renter," said Vickie Brockelman with CommonWealth Real Estate Your Way in Mount Pocono.


Ownership obstacles

Pocono taxes are a real barrier to home ownership, helping to fuel the increase in rentals.

Take for example, one foreclosed home for sale in A Pocono Country Place that is listed at $54,900.

Source: Pocono Record

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