I’m so there with you on this, ctr70. I feel if a newly-minted “short-seller” or foreclosure “victim” is having problems paying rent, then they should move to their parent’s back bedroom (IF they’re still welcome) or to a lesser-expensive housing market. In mobile-home parks in America’s heartland, one can still hookup an RV or single-wide trailer long-term for about $200 mo (incl trash pickup) in many locales!
The reason why all these folks now thrown back in the rental market are now complaining about rents is because they’re not used to paying anything (except utils) to live, having successfully “squatted” for (likely) the last 28-38 months. One would think they were able to save up $$ during their long “strategic default” stretch. But this is a bit hard to do when you’re still paying Cox Cable $271 mo and you have once weekly tee times, nail appts, massage appts, personal trainer appts and the household has $1500 mo in collective auto-loan payments (for their gas guzzlers). So these “victims” finally move out of “their” (lol) house broke (or near broke), plunking down their $3K “walking $$” towards a damage/security deposit on a house. These “victims” can’t possibly go back to living the way they were (renting a Spring Valley condo, etc) before easy money flowed in the streets (enabling them to fog a mirror and buy the house they never really “owned” and then use it for their personal ATM) because their housing “expectations” are so much higher now.
I’m sure many of them are finding out that their $3K “walking money” only got them INTO a rental house, what with their security deposits, pet deposits and such. After that, they actually have to pay RENT every month to stay there. RENT is a disruption of their current “lifestyles” but such is life.
This isn’t the problem of the homeowners/tenants/landlords living within their means. It is a “new world” out there now. I’m of the notion that the “rest of humanity” only need to sit back to watch Darwinism in action unfold in the CA coastal housing markets from here on out.
As it should be, lol … I-10, I-40, I-15 and I-70 beckon eastward …
