If a lof of rental vacancy, where did the renters go

[TheBreeze]

It’s likely that many of the illegal immigrants have left:

Classrooms in Orange County, Calif., are suddenly half-empty. Latino day laborers seem to be less thick on the ground at their morning gathering places. Remittances to Mexico and other Latin countries are down, and men are returning to some villages from the United States.

Latinos appear to account for a disproportionate share of mortgage foreclosures. The Census Bureau estimates that net immigration in 2007-08 was 14 percent lower than the average for 2000-07, and those estimates don’t cover the period after June 30, when the recession really started hitting.

http://www.realclearpolitics.com/articles/2009/01/is_a_change_in_migration_patte.html

[patb]

a lot of condo’s bought by flippers are now being rented.

it’s supply explosion

[patb]

a lot of condo’s bought by flippers are now being rented.

it’s supply explosion

[patb]

a lot of condo’s bought by flippers are now being rented.

it’s supply explosion

[patb]

a lot of condo’s bought by flippers are now being rented.

it’s supply explosion

[patb]

a lot of condo’s bought by flippers are now being rented.

it’s supply explosion

[HereWeGo]

This is a real bad time to be a landlord, IMO.

[HereWeGo]

This is a real bad time to be a landlord, IMO.

[HereWeGo]

This is a real bad time to be a landlord, IMO.

[HereWeGo]

This is a real bad time to be a landlord, IMO.

[HereWeGo]

This is a real bad time to be a landlord, IMO.

[peterb]

I’ve noticed many RE investor clubs that have been touting the “buy and rent” scenario as the road to riches. I’ve seen them being very active in the $300K and under sector. This is creating many rentals out of the low end foreclosure market inventory. This may start to make a glut of rentals on the market.
I dont think this is the right time for this strategy as the recession is just getting up to speed. We shall see. I have a feeling these may be the next wave of foreslosures should the cash flow go negative on these homes for too long.

[peterb]

I’ve noticed many RE investor clubs that have been touting the “buy and rent” scenario as the road to riches. I’ve seen them being very active in the $300K and under sector. This is creating many rentals out of the low end foreclosure market inventory. This may start to make a glut of rentals on the market.
I dont think this is the right time for this strategy as the recession is just getting up to speed. We shall see. I have a feeling these may be the next wave of foreslosures should the cash flow go negative on these homes for too long.

[peterb]

I’ve noticed many RE investor clubs that have been touting the “buy and rent” scenario as the road to riches. I’ve seen them being very active in the $300K and under sector. This is creating many rentals out of the low end foreclosure market inventory. This may start to make a glut of rentals on the market.
I dont think this is the right time for this strategy as the recession is just getting up to speed. We shall see. I have a feeling these may be the next wave of foreslosures should the cash flow go negative on these homes for too long.

[peterb]

I’ve noticed many RE investor clubs that have been touting the “buy and rent” scenario as the road to riches. I’ve seen them being very active in the $300K and under sector. This is creating many rentals out of the low end foreclosure market inventory. This may start to make a glut of rentals on the market.
I dont think this is the right time for this strategy as the recession is just getting up to speed. We shall see. I have a feeling these may be the next wave of foreslosures should the cash flow go negative on these homes for too long.

[Author]

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