renters invade

badmomma · #1 02-03-2008, 11:49 PM

The Invasion of the Renters
by Ben Casselman
Wednesday, September 26, 2007
provided by

Housing Slump Spurs Rentals and Complaints; Bikes on the Balcony

Mark Spector was happy with his new neighborhood. Then the renters started moving in.

In 2004, Mr. Spector and his wife, Deanna, paid $350,000 for a six-bedroom house in Bridgewater, a new development in Wesley Chapel, Fla., about 25 miles north of Tampa. They moved into their home and looked forward to meeting their neighbors.

Then Florida's once-feverish housing market started to cool. Investors who'd bought a large percentage of the properties in Bridgewater found they couldn't flip them for a quick profit, and brought in tenants, instead. By last year, Mr. Spector estimates, close to half of the residents in the subdivision of 750-plus homes were renters.

http://finance.yahoo.com/real-estate...of-the-Renters

flippinout · #2 02-04-2008, 02:41 PM

This article is full of advice for potential landlords. But, in neighborhoods such as these, if renters can afford that kind of rent, why cant they buy? Bad credit or what?

thohome · #3 02-04-2008, 05:20 PM

I agree great information in that post for protential landlords.. but come on if you are living in a $350,000 new home the rent has to be in the thousands what are these renters thinking.. BUY YOUR OWN HOME..

hometowngrl53 · #4 02-04-2008, 07:10 PM

The potential for the 350,000 a year to rent is something i cant seem to wrap my mind around i agree if you have that why rent buy a home but then again the problem could be that they just dont want the hassle of the matiance and want some one eles to have to worry about fixing things

flip4u · #5 02-05-2008, 01:13 AM

. Hometowngirl I think you summed it up they probably do not want the hassle of the maintenance to maintain the property.

badmomma · #6 02-05-2008, 10:26 PM

It would or could be an issue if you had to maintain your own home. You are right however if you can afford to pay that much a year for rent you could pay a person to do it for you.

hometowngrl53 · #7 02-05-2008, 11:33 PM

I my self like the idea of owing my own home the the up keep is something that if you keep up with is not costly at all and the pride of the out come is something to be proud of thats just IMO