There should come a time when there won’t be chaotic bidding on lower priced homes, and there will be plenty to choose from.
That will be sign of sanity returning, it’s probably going to take a while (IF the govt allows it to happen)
I remember the late 1980’s very well. Homes in the 90K-100K range rented for $800 a month. There was no chaotic bidding. There were plenty available.
They made sense as investments. Most smart investors didn’t even consider a condo as a rental.
Hard for many people to believe there was a time when:
A house was a place to live and not a road to riches or an ATM machine.
A smaller % of the population owned, people who rented weren’t looked down upon as losers.
For those who did own rentals, nobody in their right mind had anything other than basic bread and butter rentals, 2br-3br basic homes. McManisons hardly existed.
Only a small % of ppl owned stocks or mutual funds.
The NEW American dream for many is wishing that they had no money in the stock market and were tenants with no mortgage debt, property taxes, insurance, HOA fees, sub HOA fees and Mello Roos payments…..
The govt propaganda has worked its magic on millions of sheeple… HLS
