Comments on: “Foreclosures add to tight rental market” http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/ San Francisco Bay Area, Silicon Valley House Price and Mortgage Insanity Blog Wed, 08 Feb 2012 22:43:53 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: burbed http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19094 burbed Mon, 27 Oct 2008 05:20:23 +0000 http://www.burbed.com/?p=2499#comment-19094 test test

]]> By: sonarrat http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19093 sonarrat Mon, 27 Oct 2008 01:22:21 +0000 http://www.burbed.com/?p=2499#comment-19093 I will buy when I can get a place I'd like to call home for $1500 a month, after insurance and taxes, with only the FHA minimum 3.5% down (after Jan 1). That's what I can afford. I don't see that happening soon, but it's getting closer. A place that would fit my criteria would be a two-bedroom cottage or condo in SF or the northern peninsula. Even a quiet block of 94124 wouldn't be too bad, but I drove by 2166 Revere and that was fucking scary. Wrecked and stripped cars double-parked all down the street, trash in every yard, and crackheads wandering aimlessly down the street that runs under the double-decker 280. I couldn't live in a place like that. I will buy when I can get a place I’d like to call home for $1500 a month, after insurance and taxes, with only the FHA minimum 3.5% down (after Jan 1). That’s what I can afford. I don’t see that happening soon, but it’s getting closer. A place that would fit my criteria would be a two-bedroom cottage or condo in SF or the northern peninsula. Even a quiet block of 94124 wouldn’t be too bad, but I drove by 2166 Revere and that was fucking scary. Wrecked and stripped cars double-parked all down the street, trash in every yard, and crackheads wandering aimlessly down the street that runs under the double-decker 280. I couldn’t live in a place like that.

]]> By: Dr. Hiatus http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19092 Dr. Hiatus Sun, 26 Oct 2008 06:27:52 +0000 http://www.burbed.com/?p=2499#comment-19092 "I hope that was an attempt at humor since it ought to be quite obvious." Btw, let's at least give the guy some mercy points for <b>trying</b>. Even if it wasn't funny or clever and didn't make sense... “I hope that was an attempt at humor since it ought to be quite obvious.”

Btw, let’s at least give the guy some mercy points for trying.

Even if it wasn’t funny or clever and didn’t make sense…

]]> By: Hiaticus Maxximus http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19091 Hiaticus Maxximus Sun, 26 Oct 2008 06:15:47 +0000 http://www.burbed.com/?p=2499#comment-19091 No prob. By the way bob....You're right that this is not the dot com era. But, there is a huge difference between now and then. Back then real property was an appreciating asset. Now it is a depreciating one. Even NAR is forecasting a 6% drop in properties over the course of the next year. Let's say they're correct (I'll bet you they're way low). A 6% equity burn on a half million dollar piece of property is $2,500 a month. What is a couple hundred dollars a month more in rent compared to $2,500 a month equity burn? Nothing. Aside from the knife catchers, people are starting to figure this out and less and less people want to buy. For this reason, I believe rent will continue to rise or <b>at least</b> stay the same. It will certainly not drop substantially barring an economic <b>disaster</b> (no - this is not one; its a return of sanity). Such is my belief. Now, where's my kool aid?! No prob.

By the way bob….You’re right that this is not the dot com era. But, there is a huge difference between now and then. Back then real property was an appreciating asset. Now it is a depreciating one. Even NAR is forecasting a 6% drop in properties over the course of the next year. Let’s say they’re correct (I’ll bet you they’re way low). A 6% equity burn on a half million dollar piece of property is $2,500 a month. What is a couple hundred dollars a month more in rent compared to $2,500 a month equity burn? Nothing. Aside from the knife catchers, people are starting to figure this out and less and less people want to buy. For this reason, I believe rent will continue to rise or at least stay the same. It will certainly not drop substantially barring an economic disaster (no – this is not one; its a return of sanity).

Such is my belief.

Now, where’s my kool aid?!

]]> By: nomadic http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19090 nomadic Sun, 26 Oct 2008 05:31:44 +0000 http://www.burbed.com/?p=2499#comment-19090 I hope that was an attempt at humor since it ought to be quite obvious. (Thanks for the clarification, Mr. Hiatus.) I hope that was an attempt at humor since it ought to be quite obvious.

(Thanks for the clarification, Mr. Hiatus.)

]]> By: RealEstater http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19089 RealEstater Sun, 26 Oct 2008 04:44:48 +0000 http://www.burbed.com/?p=2499#comment-19089 Is this the anon that's on hiatus, or the Mr. Hiatus that is anon? Is this the anon that’s on hiatus, or the Mr. Hiatus that is anon?

]]> By: bob http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19088 bob Sat, 25 Oct 2008 23:57:45 +0000 http://www.burbed.com/?p=2499#comment-19088 There's indeed a caveat here, which is that indeed- there might be more competition for rentals, but the rents can only go so high if the economy is bad. Laid-off people can only pay so much. This isn't anything close to a dot-com economy by a long shot. Keep dreaming landlords... There’s indeed a caveat here, which is that indeed- there might be more competition for rentals, but the rents can only go so high if the economy is bad. Laid-off people can only pay so much. This isn’t anything close to a dot-com economy by a long shot. Keep dreaming landlords…

]]> By: Dr. Hiatus http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19087 Dr. Hiatus Sat, 25 Oct 2008 22:49:30 +0000 http://www.burbed.com/?p=2499#comment-19087 Perhaps a new handle is in order. Perhaps a new handle is in order.

]]> By: anon http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19086 anon Sat, 25 Oct 2008 22:47:21 +0000 http://www.burbed.com/?p=2499#comment-19086 LOL that is a different anon, BTW ;) LOL that is a different anon, BTW ;)

]]> By: nomadic http://www.burbed.com/2008/10/25/foreclosures-add-to-tight-rental-market/#comment-19085 nomadic Sat, 25 Oct 2008 21:28:45 +0000 http://www.burbed.com/?p=2499#comment-19085 Sounds like you really <i>did</i> dring the kool-aid. Congratulations and good luck! :-) Sounds like you really did dring the kool-aid. Congratulations and good luck! :-)

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