Shadow Tsunami =Shadow Tsunami of renters?

[jpinpb]

If the banks foreclose upon a house and puts it to market for sale, that would transfer a renter looking to buy into that home and the previous homeowner into a rental,

What would set it apart would be the investment properties. During the bubble people bought multiple homes, second homes, vacation homes. Many of these are sitting empty. If the banks foreclose upon these homes and then list it, a renter looking to buy would purchase it and leave a rental unit vacant.

I’m not very familiar w/downtown, but I’ve read somewhere about all the empty units down there. Some owners don’t even live in this state, much less this county. We can’t forget all the speculation. One of the driving forces of the bubble.

[peterb]

It all depends on whether or not the homes are put back on the market and purchased. If they’re kept empty, then there’s more pressure on rental properties. But if they’re sold, then there’s no net change in the available housing market. Assuming the people stay in the area that have been ejected from their homes. The ejected “owners” become renters. Their old house becomes a rental. Or a renter buys their old house and a rental is freed-up. So there’s a balance.

[peterb]

It all depends on whether or not the homes are put back on the market and purchased. If they’re kept empty, then there’s more pressure on rental properties. But if they’re sold, then there’s no net change in the available housing market. Assuming the people stay in the area that have been ejected from their homes. The ejected “owners” become renters. Their old house becomes a rental. Or a renter buys their old house and a rental is freed-up. So there’s a balance.

[peterb]

It all depends on whether or not the homes are put back on the market and purchased. If they’re kept empty, then there’s more pressure on rental properties. But if they’re sold, then there’s no net change in the available housing market. Assuming the people stay in the area that have been ejected from their homes. The ejected “owners” become renters. Their old house becomes a rental. Or a renter buys their old house and a rental is freed-up. So there’s a balance.

[peterb]

It all depends on whether or not the homes are put back on the market and purchased. If they’re kept empty, then there’s more pressure on rental properties. But if they’re sold, then there’s no net change in the available housing market. Assuming the people stay in the area that have been ejected from their homes. The ejected “owners” become renters. Their old house becomes a rental. Or a renter buys their old house and a rental is freed-up. So there’s a balance.

[peterb]

It all depends on whether or not the homes are put back on the market and purchased. If they’re kept empty, then there’s more pressure on rental properties. But if they’re sold, then there’s no net change in the available housing market. Assuming the people stay in the area that have been ejected from their homes. The ejected “owners” become renters. Their old house becomes a rental. Or a renter buys their old house and a rental is freed-up. So there’s a balance.

[Nor-LA-SD-guy]

Here is an Odd one, I just saw this headline and thought it was so out there from what everyone (at least here on this board thinks) that I had to post it somewhere.

The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 32% jump in charter rates by December. The rate for leasing capesizes, boats three times the size of the Statue of Liberty, will average $39,000 a day in the fourth quarter, from $29,649 now.

[Nor-LA-SD-guy]

Here is an Odd one, I just saw this headline and thought it was so out there from what everyone (at least here on this board thinks) that I had to post it somewhere.

The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 32% jump in charter rates by December. The rate for leasing capesizes, boats three times the size of the Statue of Liberty, will average $39,000 a day in the fourth quarter, from $29,649 now.

[Nor-LA-SD-guy]

Here is an Odd one, I just saw this headline and thought it was so out there from what everyone (at least here on this board thinks) that I had to post it somewhere.

The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 32% jump in charter rates by December. The rate for leasing capesizes, boats three times the size of the Statue of Liberty, will average $39,000 a day in the fourth quarter, from $29,649 now.

[Nor-LA-SD-guy]

Here is an Odd one, I just saw this headline and thought it was so out there from what everyone (at least here on this board thinks) that I had to post it somewhere.

The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 32% jump in charter rates by December. The rate for leasing capesizes, boats three times the size of the Statue of Liberty, will average $39,000 a day in the fourth quarter, from $29,649 now.

[Nor-LA-SD-guy]

Here is an Odd one, I just saw this headline and thought it was so out there from what everyone (at least here on this board thinks) that I had to post it somewhere.

The fastest expansion in world trade in three years is clogging up ports from Australia to Brazil, driving a 32% jump in charter rates by December. The rate for leasing capesizes, boats three times the size of the Statue of Liberty, will average $39,000 a day in the fourth quarter, from $29,649 now.

[outtamojo]

It seems like some of you believe we have a large pool of willing and able buyers out there to smooth out the wave of newly listed homes for sale? I would’ve never guessed this from some.True there is an equilibrium here somewhere but it is a dynamic one. Ejected homeowner has to find rental/housing right away,home foreclosure/mls listing/home sold/escrow closed can take many months. As for empty homes, I do not know if proposed Tsunami wave has more empty homes than occupied.

[outtamojo]

It seems like some of you believe we have a large pool of willing and able buyers out there to smooth out the wave of newly listed homes for sale? I would’ve never guessed this from some.True there is an equilibrium here somewhere but it is a dynamic one. Ejected homeowner has to find rental/housing right away,home foreclosure/mls listing/home sold/escrow closed can take many months. As for empty homes, I do not know if proposed Tsunami wave has more empty homes than occupied.

[outtamojo]

It seems like some of you believe we have a large pool of willing and able buyers out there to smooth out the wave of newly listed homes for sale? I would’ve never guessed this from some.True there is an equilibrium here somewhere but it is a dynamic one. Ejected homeowner has to find rental/housing right away,home foreclosure/mls listing/home sold/escrow closed can take many months. As for empty homes, I do not know if proposed Tsunami wave has more empty homes than occupied.

[outtamojo]

It seems like some of you believe we have a large pool of willing and able buyers out there to smooth out the wave of newly listed homes for sale? I would’ve never guessed this from some.True there is an equilibrium here somewhere but it is a dynamic one. Ejected homeowner has to find rental/housing right away,home foreclosure/mls listing/home sold/escrow closed can take many months. As for empty homes, I do not know if proposed Tsunami wave has more empty homes than occupied.

[Author]

Posts