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Seattledude:
as a Victoriadude, surrounded by geriatrics and american tourists instead of chinese and iranian immigrants, I can totally see where you're coming from-my parents are boomers and they both did better than their kids with less education. A common pattern in late 20th century financial outcomes.
My grandparents bought their first house in Kerrisdale for $3000 in the 1930s. Now the same house would be a couple million - in the last ten years something demographic has happened in congruence with financial voodoo like you say and WHAM!.
All I can say is, amen.
Yes, the Fuchs needs to come home now, he is seriously late with his rent.
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Is anyone aware of an inverse correlation between a housing bubble of massive proportions popping and subsequently rising rents?
My thinking goes something like this: after all the suckers who go bankrupt lose their houses and are back in the rental market, they will drive vacancy rates in typical rental properties lower (supply and demand).
*Or* do all those illegal in-law suites all over the place absorb a lot of those ex-property owners, and do all those empty houses now rented after foreclosure or whatever depress the market?
As house prices go down over several years (by not appreciating or actually coming down, whatever), and rent gets more expensive (lower vacancy rates), these same people will start to think about the money they are wasting renting and thinking about buying again, and the cycle begins anew.
My vote - I have a feeling rents will be going up as housing prices go down.
Any thoughts?
by tsusiat
#housing