Home › Forums › Financial Markets/Economics › Landlords: What are house rents doing?
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The OC Scam.
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October 20, 2008 at 2:51 PM #290617October 20, 2008 at 5:41 PM #290360
peterb
ParticipantThe first step is foreclosure. These people start to look for a place to rent closer to their work or somewhere they want to live, but could not afford to buy. The second step is job loss. Or pay cuts. When this happens, they look for work and if they must move out of the area, they move. Or they look to rent in a less desiralble area. These scenario’s will play out over the next year or two as this recession grows.
October 20, 2008 at 5:41 PM #290671ParticipantThe first step is foreclosure. These people start to look for a place to rent closer to their work or somewhere they want to live, but could not afford to buy. The second step is job loss. Or pay cuts. When this happens, they look for work and if they must move out of the area, they move. Or they look to rent in a less desiralble area. These scenario’s will play out over the next year or two as this recession grows.
October 20, 2008 at 5:41 PM #290675ParticipantThe first step is foreclosure. These people start to look for a place to rent closer to their work or somewhere they want to live, but could not afford to buy. The second step is job loss. Or pay cuts. When this happens, they look for work and if they must move out of the area, they move. Or they look to rent in a less desiralble area. These scenario’s will play out over the next year or two as this recession grows.
October 20, 2008 at 5:41 PM #290708ParticipantThe first step is foreclosure. These people start to look for a place to rent closer to their work or somewhere they want to live, but could not afford to buy. The second step is job loss. Or pay cuts. When this happens, they look for work and if they must move out of the area, they move. Or they look to rent in a less desiralble area. These scenario’s will play out over the next year or two as this recession grows.
October 20, 2008 at 5:41 PM #290712ParticipantThe first step is foreclosure. These people start to look for a place to rent closer to their work or somewhere they want to live, but could not afford to buy. The second step is job loss. Or pay cuts. When this happens, they look for work and if they must move out of the area, they move. Or they look to rent in a less desiralble area. These scenario’s will play out over the next year or two as this recession grows.
October 20, 2008 at 6:16 PM #290370CA renter
ParticipantExactly, peterb.
I used to say rents would rise in the beginning of the bubble burst, but drop as we worked our way through the inventory.
Right now, a lot of inventory is being held off the market — abandoned homes in the foreclosure process or homes that are not being paid for with technical squatters (people who stopped paying their mortgages, but the banks refuse to foreclose for whatever reason).
I’m definitely noticing more “for rent” signs now in the south Carlsbad/Encinitas. Lots of FBs renting out their homes as they “wait for the market to improve.”
Lots of money has disappeared over the past year. Many people are literally on the edge WRT their jobs. There is little chance we’ll see rents rise like they have over the past few years. We are about to see the downside of that “rent bubble” as well, IMHO.
October 20, 2008 at 6:16 PM #290681ParticipantExactly, peterb.
I used to say rents would rise in the beginning of the bubble burst, but drop as we worked our way through the inventory.
Right now, a lot of inventory is being held off the market — abandoned homes in the foreclosure process or homes that are not being paid for with technical squatters (people who stopped paying their mortgages, but the banks refuse to foreclose for whatever reason).
I’m definitely noticing more “for rent” signs now in the south Carlsbad/Encinitas. Lots of FBs renting out their homes as they “wait for the market to improve.”
Lots of money has disappeared over the past year. Many people are literally on the edge WRT their jobs. There is little chance we’ll see rents rise like they have over the past few years. We are about to see the downside of that “rent bubble” as well, IMHO.
October 20, 2008 at 6:16 PM #290685ParticipantExactly, peterb.
I used to say rents would rise in the beginning of the bubble burst, but drop as we worked our way through the inventory.
Right now, a lot of inventory is being held off the market — abandoned homes in the foreclosure process or homes that are not being paid for with technical squatters (people who stopped paying their mortgages, but the banks refuse to foreclose for whatever reason).
I’m definitely noticing more “for rent” signs now in the south Carlsbad/Encinitas. Lots of FBs renting out their homes as they “wait for the market to improve.”
Lots of money has disappeared over the past year. Many people are literally on the edge WRT their jobs. There is little chance we’ll see rents rise like they have over the past few years. We are about to see the downside of that “rent bubble” as well, IMHO.
October 20, 2008 at 6:16 PM #290718ParticipantExactly, peterb.
I used to say rents would rise in the beginning of the bubble burst, but drop as we worked our way through the inventory.
Right now, a lot of inventory is being held off the market — abandoned homes in the foreclosure process or homes that are not being paid for with technical squatters (people who stopped paying their mortgages, but the banks refuse to foreclose for whatever reason).
I’m definitely noticing more “for rent” signs now in the south Carlsbad/Encinitas. Lots of FBs renting out their homes as they “wait for the market to improve.”
Lots of money has disappeared over the past year. Many people are literally on the edge WRT their jobs. There is little chance we’ll see rents rise like they have over the past few years. We are about to see the downside of that “rent bubble” as well, IMHO.
October 20, 2008 at 6:16 PM #290722ParticipantExactly, peterb.
I used to say rents would rise in the beginning of the bubble burst, but drop as we worked our way through the inventory.
Right now, a lot of inventory is being held off the market — abandoned homes in the foreclosure process or homes that are not being paid for with technical squatters (people who stopped paying their mortgages, but the banks refuse to foreclose for whatever reason).
I’m definitely noticing more “for rent” signs now in the south Carlsbad/Encinitas. Lots of FBs renting out their homes as they “wait for the market to improve.”
Lots of money has disappeared over the past year. Many people are literally on the edge WRT their jobs. There is little chance we’ll see rents rise like they have over the past few years. We are about to see the downside of that “rent bubble” as well, IMHO.
October 20, 2008 at 11:06 PM #290506The OC Scam
ParticipantNow that you mentioned it I do lay around naked near the rental after a good surf session!
October 20, 2008 at 11:06 PM #290816ParticipantNow that you mentioned it I do lay around naked near the rental after a good surf session!
October 20, 2008 at 11:06 PM #290819ParticipantNow that you mentioned it I do lay around naked near the rental after a good surf session!
October 20, 2008 at 11:06 PM #290855ParticipantNow that you mentioned it I do lay around naked near the rental after a good surf session!
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