Return of a pulse to home sales is crimping rents

By tvgnus   follow   Mon, 21 Jan 2013, 1:09pm PST   ↑ Like   ↓ Dislike   895 views   4 comments   Watch (1)   Share   Quote  

http://www.centralvalleybusinesstimes.com/stories/001/?ID=22699

Rent rate increases taper off or even begin to fall •  A damper on the apartment rental market in most parts of the country Rents have stopped growing and one research firm points the finger squarely at a return to life of the housing industry.

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RentingForHalfTheCost   befriend (8)   ignore (6)   Mon, 21 Jan 2013, 1:51pm PST   Like   Dislike     Share   Quote   Comment 1

Yup, this matches what I see in my searches. Rents are cheaper and getting more plentiful. Gotta love it! Rent a 1 million+ house for $3000/mth and live like a king!

Greenhead2   befriend (0)   ignore (0)   Tue, 22 Jan 2013, 5:47am PST   Like (1)   Dislike     Share   Quote   Comment 2

Here in the Coachella Valley, there are now a lot more homes and apartments for rent, and at lower prices, than there were 6 months ago. Around here, it should be the opposite of that because of the snowbirds.

errc   befriend (5)   ignore (3)   Tue, 22 Jan 2013, 6:07am PST   Like   Dislike     Share   Quote   Comment 3

Property managers in my area are having to give hefty concessions to keep occupancy above 95%. There is certainly no shortage of units for those in the market to rent right now, that's for certain.

I'm contemplating selling my place now, or at least putting it on the market with a jacked up price tag, and going back to being a renter.

errc   befriend (5)   ignore (3)   Tue, 22 Jan 2013, 6:30am PST   Like   Dislike     Share   Quote   Comment 4

E-man says

errc says

I'm contemplating selling my place now, or at least putting it on the market with a jacked up price tag, and going back to being a renter.

Sounds like a plan. Lock in your gain b/4 it's all evaporated into thin air. Your taxes would have been lower had you sold it last year. :)

I'm not holding my breath that there's any real gains to realize, its just my primary residence lol. I've run the gamut of borders in the eight years I've lived here, and just feel that I'm at a different point in life. It might cost me more dollars out of pocket to go back to renting, but dollars are of little value to me and I'm wondering if id get more enjoyment out of the time,,,,

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