Forum Replies Created
-
AuthorPosts
-
bsrsharma
ParticipantSD,
I will go with you. That still leaves the question: Who will live in those homes? There will be millions of ex-owners, who are unlikely to become owners. So, if those homes are not going to be owner occupied, to whom will the buyers rent it?
I don’t think there are millions of “Piggingtonians” who will swoop down, buy at a bargain paying 20+% down payment and live there. Just the sheer size of the (home losing) population is going to create its own dynamics. This is like a Southern California forest fire that creates its own weather system. And we have not even considered the political impact of all these. I don’t think the lenders can get away just playing by the rules of the mortgage contract.ParticipantThe "Greatest Generation" was a direct product of surviving the privations…
The 20-somethings and 30-somethings of today may become the "Greatest Generation" of 21st Century.
ParticipantThe "Greatest Generation" was a direct product of surviving the privations…
The 20-somethings and 30-somethings of today may become the "Greatest Generation" of 21st Century.
ParticipantThe "Greatest Generation" was a direct product of surviving the privations…
The 20-somethings and 30-somethings of today may become the "Greatest Generation" of 21st Century.
ParticipantSold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
ParticipantSold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
ParticipantSold for 327K!
Is that $125/sqft ? Good start. Towards the end, this may converge to $100/sqft.
ParticipantSD,
I agree credit will be difficult for investors to buy and rent. I am imagining the situation may force a new kind of business – The REO-Landlord. What choice do they have? There is a carrying cost; Homes may get vandalized/become vice-dens attracting city nuisance laws, further depress neighboring property values that will have a snowballing affect.
This article in NYT puts a human face on the ex-owner now-renter population. As you can see, this is not the traditional politically weak poor/homeless. There is a political consequence to having a million faces like these losing their home.
ParticipantSD,
I agree credit will be difficult for investors to buy and rent. I am imagining the situation may force a new kind of business – The REO-Landlord. What choice do they have? There is a carrying cost; Homes may get vandalized/become vice-dens attracting city nuisance laws, further depress neighboring property values that will have a snowballing affect.
This article in NYT puts a human face on the ex-owner now-renter population. As you can see, this is not the traditional politically weak poor/homeless. There is a political consequence to having a million faces like these losing their home.
ParticipantSD,
I agree credit will be difficult for investors to buy and rent. I am imagining the situation may force a new kind of business – The REO-Landlord. What choice do they have? There is a carrying cost; Homes may get vandalized/become vice-dens attracting city nuisance laws, further depress neighboring property values that will have a snowballing affect.
This article in NYT puts a human face on the ex-owner now-renter population. As you can see, this is not the traditional politically weak poor/homeless. There is a political consequence to having a million faces like these losing their home.
ParticipantStan,
I like you to disagree – and provide another point of view!
Now, I agree credit will be an issue in rental market. But look at the big picture: millions of families have lost their homes. What are they going to do? They can’t all live in cars or cardboard boxes or under the bridges. The social, if not legal, pressure will be too much to refuse them rentals. Also, what will the owners do with millions of empty homes? The threshold of creditworthiness to qualify for rentals will come down enough to keep most of the empty homes occupied. That will provide housing to most.
ParticipantStan,
I like you to disagree – and provide another point of view!
Now, I agree credit will be an issue in rental market. But look at the big picture: millions of families have lost their homes. What are they going to do? They can’t all live in cars or cardboard boxes or under the bridges. The social, if not legal, pressure will be too much to refuse them rentals. Also, what will the owners do with millions of empty homes? The threshold of creditworthiness to qualify for rentals will come down enough to keep most of the empty homes occupied. That will provide housing to most.
ParticipantStan,
I like you to disagree – and provide another point of view!
Now, I agree credit will be an issue in rental market. But look at the big picture: millions of families have lost their homes. What are they going to do? They can’t all live in cars or cardboard boxes or under the bridges. The social, if not legal, pressure will be too much to refuse them rentals. Also, what will the owners do with millions of empty homes? The threshold of creditworthiness to qualify for rentals will come down enough to keep most of the empty homes occupied. That will provide housing to most.
ParticipantWhat will be the next boom
I heard that the ones (investor kind) who made a killing in the housing bubble are looking into speculation in farmland as the next "growth opportunity". Another one is "clean water opportunity" which is basically rights to water source for cities. Just think of Enron and Electricity deregulation.
-
AuthorPosts
