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April 28, 2008 at 12:58 PM in reply to: Stat’s showing nationwide rental vacancy rates are actually RISING #195701
kev374
Participantnumber of rental units on the market has increased as those that need to sell but can’t are forced to rent the place out.
Just checking Craigslist for South OC the number of listings and deals is amazing! Many properties are offering 1st month free and also generally the rent price level is down. The supply seems to far exceed demand at this point.
April 28, 2008 at 12:58 PM in reply to: Stat’s showing nationwide rental vacancy rates are actually RISING #195732Participantnumber of rental units on the market has increased as those that need to sell but can’t are forced to rent the place out.
Just checking Craigslist for South OC the number of listings and deals is amazing! Many properties are offering 1st month free and also generally the rent price level is down. The supply seems to far exceed demand at this point.
April 28, 2008 at 12:58 PM in reply to: Stat’s showing nationwide rental vacancy rates are actually RISING #195758Participantnumber of rental units on the market has increased as those that need to sell but can’t are forced to rent the place out.
Just checking Craigslist for South OC the number of listings and deals is amazing! Many properties are offering 1st month free and also generally the rent price level is down. The supply seems to far exceed demand at this point.
April 28, 2008 at 12:58 PM in reply to: Stat’s showing nationwide rental vacancy rates are actually RISING #195779Participantnumber of rental units on the market has increased as those that need to sell but can’t are forced to rent the place out.
Just checking Craigslist for South OC the number of listings and deals is amazing! Many properties are offering 1st month free and also generally the rent price level is down. The supply seems to far exceed demand at this point.
April 28, 2008 at 12:58 PM in reply to: Stat’s showing nationwide rental vacancy rates are actually RISING #195820Participantnumber of rental units on the market has increased as those that need to sell but can’t are forced to rent the place out.
Just checking Craigslist for South OC the number of listings and deals is amazing! Many properties are offering 1st month free and also generally the rent price level is down. The supply seems to far exceed demand at this point.
ParticipantBTW, what is the percentage of population in high paying professions like Medicine, Law and Engineering that are also new first time homebuyers? I doubt it is a large enough percentage to consider that the norm. I would say they are a minority and insufficient. A large percentage of professionals who are experienced enough to earn such a salary are already homeowners and not in the pool to create new demand.
Remember that higher earners also have bigger liabilities like their BMW/Lexus/Mercedes lease, vacations, partying out etc. They are not about to give up their entire lifestyle and live on Ramen noodles to buy one of these overvalued houses even if they would qualify. And yes, their expectations of a house are also that much higher than average so they are not likely to be content buying some small matchbox size crappy condo for half a million dollars.
ParticipantBTW, what is the percentage of population in high paying professions like Medicine, Law and Engineering that are also new first time homebuyers? I doubt it is a large enough percentage to consider that the norm. I would say they are a minority and insufficient. A large percentage of professionals who are experienced enough to earn such a salary are already homeowners and not in the pool to create new demand.
Remember that higher earners also have bigger liabilities like their BMW/Lexus/Mercedes lease, vacations, partying out etc. They are not about to give up their entire lifestyle and live on Ramen noodles to buy one of these overvalued houses even if they would qualify. And yes, their expectations of a house are also that much higher than average so they are not likely to be content buying some small matchbox size crappy condo for half a million dollars.
ParticipantBTW, what is the percentage of population in high paying professions like Medicine, Law and Engineering that are also new first time homebuyers? I doubt it is a large enough percentage to consider that the norm. I would say they are a minority and insufficient. A large percentage of professionals who are experienced enough to earn such a salary are already homeowners and not in the pool to create new demand.
Remember that higher earners also have bigger liabilities like their BMW/Lexus/Mercedes lease, vacations, partying out etc. They are not about to give up their entire lifestyle and live on Ramen noodles to buy one of these overvalued houses even if they would qualify. And yes, their expectations of a house are also that much higher than average so they are not likely to be content buying some small matchbox size crappy condo for half a million dollars.
ParticipantBTW, what is the percentage of population in high paying professions like Medicine, Law and Engineering that are also new first time homebuyers? I doubt it is a large enough percentage to consider that the norm. I would say they are a minority and insufficient. A large percentage of professionals who are experienced enough to earn such a salary are already homeowners and not in the pool to create new demand.
Remember that higher earners also have bigger liabilities like their BMW/Lexus/Mercedes lease, vacations, partying out etc. They are not about to give up their entire lifestyle and live on Ramen noodles to buy one of these overvalued houses even if they would qualify. And yes, their expectations of a house are also that much higher than average so they are not likely to be content buying some small matchbox size crappy condo for half a million dollars.
ParticipantBTW, what is the percentage of population in high paying professions like Medicine, Law and Engineering that are also new first time homebuyers? I doubt it is a large enough percentage to consider that the norm. I would say they are a minority and insufficient. A large percentage of professionals who are experienced enough to earn such a salary are already homeowners and not in the pool to create new demand.
Remember that higher earners also have bigger liabilities like their BMW/Lexus/Mercedes lease, vacations, partying out etc. They are not about to give up their entire lifestyle and live on Ramen noodles to buy one of these overvalued houses even if they would qualify. And yes, their expectations of a house are also that much higher than average so they are not likely to be content buying some small matchbox size crappy condo for half a million dollars.
ParticipantIT salaries are all over the place. I have 10yrs experience as a Sr. Java EE Engineer and also have some architecture experience. The median for my position according to salary.com is around $115k/yr plus a 5-15% bonus.
But I’ve seen salaries as low as 80k and as high as 120k for the same position. This accounts for the quality of the person being hired of course, years of experience really means nothing. I know people who have 10 yrs experience who are not so good at their job and people with 3yrs experience who were whizzes.
ParticipantIT salaries are all over the place. I have 10yrs experience as a Sr. Java EE Engineer and also have some architecture experience. The median for my position according to salary.com is around $115k/yr plus a 5-15% bonus.
But I’ve seen salaries as low as 80k and as high as 120k for the same position. This accounts for the quality of the person being hired of course, years of experience really means nothing. I know people who have 10 yrs experience who are not so good at their job and people with 3yrs experience who were whizzes.
ParticipantIT salaries are all over the place. I have 10yrs experience as a Sr. Java EE Engineer and also have some architecture experience. The median for my position according to salary.com is around $115k/yr plus a 5-15% bonus.
But I’ve seen salaries as low as 80k and as high as 120k for the same position. This accounts for the quality of the person being hired of course, years of experience really means nothing. I know people who have 10 yrs experience who are not so good at their job and people with 3yrs experience who were whizzes.
ParticipantIT salaries are all over the place. I have 10yrs experience as a Sr. Java EE Engineer and also have some architecture experience. The median for my position according to salary.com is around $115k/yr plus a 5-15% bonus.
But I’ve seen salaries as low as 80k and as high as 120k for the same position. This accounts for the quality of the person being hired of course, years of experience really means nothing. I know people who have 10 yrs experience who are not so good at their job and people with 3yrs experience who were whizzes.
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