TG – trust me when I say it is so under reported and under the radar of how many people are NOT paying. The realtor friend I have mentioned before who lives in PB is still living in his house w/out paying one red cent and no NOD filed. Has to be going on 3 years now.
Maybe they have already drained the pool in Temecula/Riverside/San Bernardino county. I don’t know. But areas that I watch, there are still plenty of people riding the gravy train of free rent. In fact, my neighbor is an insurance agent and she gets questions from clients who want to know if a house has a NOD if they still have to pay insurance.
For those that are investors, why would you think they are empty? Most likely rented out and owner collecting rent(s) and not paying their mortgage(s). How many people during the bubble have bought multiple properties in their attempt to be real estate tycoons and gather rent from multiple properties, now just collecting rent and not paying the mortgage.
I think some people underestimate this b/c it’s not something that they would do themselves.
