Property prices have gone out the window.
20 years ago, bought a small bungalow house on a pretty 2 acres for ~$50K, property taxes about $1K /year, good schools. A great rental investment.
Today
That house is now ~$450K, property taxes ~$8,000 / year and the school is overrun with troubles.
Owners can’t get a reliable tenant to cover the carry costs and doesn’t want to live in it.
Glad I got out when I did.
Owners can’t get a reliable tenant to cover the carry costs and doesn’t want to live in it.
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This will be a huge story as we move through the decade.
Where did all the renters go?
Answer: They don’t exist, there is a low supply of renters, unless you believe all the migrant and illegal migrant hype.
Numerous homes in my area have been off the market for 10-15 years, just sitting there vacant.