Posted on 05/30/2011 5:53:15 PM PDT by rabscuttle385
Link only, per FR posting rules
I can’t imagine how much it has to suck for renters these days... with all the demand from people losing their homes... ouch.
job growth?
job growth is fueling rising rent? where the hell is this job growth they are talking about?
At some point, buying a house at ridiculously low distress sale foreclosure prices is going to be serious competition to the rents.
The housing mortgage holders were given unlimited funds at %0.1 interest and lower. The commodities of ‘coarse’ (gold,copper,platinum.etc), are the only purchase.
There is still a big imbalance between the cost to rent and own in Socal.
>>where the hell is this job growth they are talking about?<
Uh, where you been? Walmart, McDonalds, Taco Bell, Burger King, Dominos pizza.
It’s all around you, just think...How may I serve you today sir? Welcome to Walmart...wanna sticker young man?
In the Washington, D.C. metropolitan area.
Your federal tax dollars at work.
And, mind you, the trend is consistent, irrespective of which party is in power.
At some point, buying a house at ridiculously low distress sale foreclosure prices is going to be serious competition to the rents.
***************************************************
The titles are clouded , the previously foreclosed houses are unsalable except for cash only and with a “special warranty deed” meaning once you pay all the title problems are yours except for the few weeks/months when the person you just bought from owned it.
The only buyers are “investors” ,, not regular retail purchases..
doubtful. Too many people with ruined credit.
Some of the foreclosures have title problems, but by no means all.
As if prospective landlords don’t look at credit reports?
Wrong wrong wrong wrong wrong! Increasing the money supply by a whopping $2.6 trillion over the last 28 months is what not only has risked inflation, but has actually caused it.
a poor credit rating can’t shut you out of all rental agreements. But it can shut you out of all mortgages...especially when banks are as protective of their money as they are currently.
i thought so but plenty dont qualify.
First the banks have to foreclose. From what I can tell anecdotally, there are a lot of unforeclosed-upon properties still out there. I don’t understand the banking business well enough to know why. Part of it might be the system is overwhelmed, part of it the issue of poor documentation slowing the process, part of it that when they foreclose, the banks have to take the write-off. Or at least that is my guess.
We know why rents are high, and that it has nothing to do with the Fed.
The banks don’t have to pay property taxes, until the properties are sold again. There aren’t many buyers. The bankers’ local friends in government want revenues. Some who are being foreclosed upon might be willing to continue paying property taxes.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.