Home Seller's Pain Is My Gain As A Renter - Taking Advantage Of The Mortgage Crisis
Published 1/20/08 (Modified 3/8/11)
The housing and credit markets are a mess right now. Several major banks that engaged in questionable subprime mortgage lending are smoldering in ruins. The housing market that had been stellar until last year finally collapsed, leaving behind a wake of steadily depreciating homes. The number of home foreclosures continue to spike as many home owners who took advantage of interest only adjustable mortgages are now faced with the daunting task of dealing with mortgage rates that are resetting at higher levels. The U.S. economy has sputtered and is now possibly sinking into the initial stages of a recession, further sapping consumer confidence in the economy and the housing market. If you are a home owner, the situation certainly looks grim and valuation prospects don't look good. But if you are a renter and aren't looking to buy anytime soon, life is good. If you have been relishing the opportunity to take advantage of the current housing malaise as a renter, well now is as good of a time as any to reap the housing bonanza - through lower rental prices.
Failed Building Projects Result In More Apartment Conversions