As the housing market improves, rental demand wanes. Where does that leave investors?
Since the housing market collapsed, rental demand has increased, along with prices. But how much would you pay to live in a premier property? The owners of the tallest residential building in the Western hemisphere, in Lower Manhattan, are betting renters will pay up to $60,000 per month. That’s right: per month. The 76-story building,
Part of the fallout of the housing crisis means that rental demand is up – and so are prices. As home prices have been dropping and supply increasing, it’s a cruel twist for renters who are blocked from getting a mortgage because of bad credit to see their monthly payments go up. It’s also frustrating
One promising piece of news in the housing crisis for developers and investors is rental property, which has seen a surge as homeownership rates have fallen off. As builders seek ways to tailor rental units to the needs of renters, the Wall Street Journal reports that they are increasingly looking at single mothers. Census data
Mortgage rates hit a new record low in last week’s Bankrate survey, but homeowners still aren’t biting, as proven by a drop in applications for new mortgages and refinance loans. Homebuyers are holding back, for sure, as home prices keep falling and lenders continue their reluctance to extend a mortgage to anyone without stellar credit
Normally it’s the renter who needs to prove their creditworthiness to the landlord. But with the current state of the housing market, it may be time for the landlord to prove to the renter that their credit is not in the toilet. With so many homeowners going into foreclosure each and every month at outstanding