We hear it and see it everywhere, the radio, the tv, from our frinds co-workers. Truth is our economy is down and we are in a ressesion. Jobs are being lost everyday forcing people to foreclose or do a short sale. This creates deals for us REI's of the world. We buy low, fix and rent. The people who were forced out becuase they could not afford their mortgage payments are now the ones looking to rent...right!? Our rent on these homes is more than likely more than what their mortgage payments were. So I ask, how are these folks going to be able to make the rent payments if they could not make the lesser mortgage payment? If we cant rent it, then we could possibly get forclosed on, creating a vicious circle. This makes me think maybe condos with lower rents might be where REI's should be buying not SFR's.
I would like to hear all your thoughts on this, and solutions/suggestions.
p.s this is not to be a downer, this was just me thinking out loud and wanting some feed back on this Vicious circle.
Don't Wish the Past, Create the Future! - DH