Rising rents and the real estate recovery | Inman News
Rising rents and the real estate recovery | Inman News.
“Those who can buy, and want to buy, have been waiting for this moment. These are the renters who are qualified to purchase — the ones who never considered renting for the rest of their lives.” Read more… By David Fletcher, Wednesday, May 25, 2011. Inman News™
Categories: Newsletter Article
Rhathcock
With Phoenix having the worst market in the US (second only to Detroit) and heading for a a double (probably a triple) dip, this is hilarious.
Sometimes I find that saying a specific real estate market is bad depends on who you talk to, where you get information, and what side of the real estate coin your talking about. One person’s bad market is anothers good market… if I were selling a primary residence and could only short sale with a $90K gap between the market rate and my payoff amount, my credit is in ruined, and now have a hard time finding a high priced rental, then the market is bad. However, an investor who has cash will find this to be a golden market with plenty of newly created tenants who lost their homes to short-sale / foreclosure, who will not qualify for a home purchase for 3+ years, and need to rent. Being part of a property management I can only speak to what I see on the ground and that is; our rental homes are renting quickly, for premium prices, and get many calls from investors who are buying up cheap houses and want to rent them to all of the people who are now tenants. To me, the market is good.