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santeeman
Participantoops
ParticipantWhy would anyone wanna drive up their mortgage payment, and pocket 300k? That doesn’t make sense to me. If you wanted more money you could take a second, but why do that when you are buying in this market?
ParticipantHistorically rents rise as property markets fall. Sure we all know people who live for years in a place that rent doesn’t increase, and then when landlord’s see the chance they bail out on the property, leaving the tennants high and dry. Well,I know more that the rents increases more often than not..(So that’s the next to go.)Do you think that landlords don’t recognize that people are renting because they are waiting for the market to tank substancially. It’s pushing up the market already. The Fed noted and is poised to raise interest rates (if rents rise too far affecting inflation), but how far will they let it go? With the astronomical home mortgages it will take years for rents to catch up, or will it?
Check this out posted today:
Sunday, October 22, 2006
O.C. rental rates push up 6.1% in third quarter
Orange County’s largest landlords received average rent hikes of 6.1 percent in the year ended in the third quarter, RealFacts reported last week. The typical rent at a large complex is now $1,494 – up $88 in a year.The only good news for renters is that is this past quarter’s rise is the slowest annual rate of rent increases on a percentage point basis since the second quarter of 2005.
Why can landlords continue to ask for – and get – these kinds of rate hikes? Few vacant apartments, a byproduct of a healthy job market, and home shoppers remaining skittish.
RealFacts reports that only 3.3 percent of local apartments at large complexes were empty last quarter. That’s down from 4.6 percent in the second quarter and 4 percent a year ago. Industry experts think any vacancy rate under 5 percent is, theoretically, a “sold out” condition.
ParticipantHaven’t you ever heard, never A-S-S-U-M-E. As a matter of fact there are plenty who agree the rents are going up. The point I am trying to make is this, lot’s of people on this site conclude that there will be over a 50% market correction. I feel that is misleading. People at that point can afford their mortgages. Other factors will of course enter into this whole housing mess,don’t count on aything. If you got screwed one way there is always another way to have it happen, and hype and hysteria sent the market where it is today. By no means do I think I know there will be a soft landing, but then I am not sure what is going to happen next.
ParticipantOh I am sure the herds of bailing Californian’s are moving there. I just meant it might LOOK like 100k but in actuality it’s probably closer to 10k or less. I personally have been watching Reno. Can’t STAND humidity, and would like someplace a little cooler most of the year.
ParticipantWhat the **** 2% is this for real? That is not a lot! But then even if that is true that’s pushing down the market and it not Appreciating and it gives income and rents a chance to catch up.
ParticipantRents are going up. The talk is that some of these landlords can not afford to make the payments on these astronomical loans they’ve taken out for investment property and are going to “pass the savings on to the consumer”.http://www.recordnet.com/apps/pbcs.dll/article?AID=/20061021/MONEY/610210303
Rents don’t come down when the occupancy rates are up to 95%, and climbing higher…….
http://www.realfacts.com/7262006.htmlOh and as for craigslist, I suggest you check this website, they use craigslist to monitor how the rental market is.http://sandiego.rentslicer.com/
ParticipantEveryone is entitled to their opinion so maybe not, but the guy my mom had evicted last year,(she didn’t get a credit check), who has an unlawful detainer( which is supposed to be worse than a bancruptcy-supposed to get you blackballed from renting) rented a house in Santee, from a property agency. right away! Check this site out. I read them from all over the place but this is California. http://www.recordnet.com/apps/pbcs.dll/article?AID=/20061021/MONEY/610210303
October 21, 2006 at 8:50 PM in reply to: What if the glum and doomers are right, but nothng crashes #38187ParticipantOf course it’s pure speculation, but I think 2010 will certainly be a buyers market. That will give rents a lot of time to escalate, check this out…….
.http://www.recordnet.com/apps/pbcs.dll/article?AID=/20061021/MONEY/610210303Participantoops
ParticipantCome here when you have something to say that’s informative.
Grow up and make some sense before you go attacking other folks for their opinions. No one else cares if you think your funny, find another forum for your juvenile nonsense.ParticipantIt’a not acheivable through normal 30 year,loans that require 20% down for median income families unless they buy on the outskirts of town,in a crappy neighborhood, and or a condo, (according to the median income) at this point. That is not what most people want their hard earned money to go for and it is not exactly the american dream. Grow up and make some sense before you go attacking other folks for their opinions. No one else cares if you think your funny, find another forum for your juvenile nonsense.
ParticipantI say you are delusional. But thanks. You have to admit there still is no stats to support your delusions.
ParticipantIt’s my opinion, and it’s your hope. 200 and 300% in the past few years,(more like ten) where did that happen? Show the statics for that. I am a home owner, thinking about moving. I hate the heat, traffic, and the fact my kids won’t be able to afford anything here, decent, not a broker. So you are definitely wrong about at LEAST one idea, I am guessing on a whole lot more……good luck
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