I have to wonder with the economy in the dumper...and the real estate boom bust

Horse with no Name

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Fri Sep-07-07 09:36 PM
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I have to wonder with the economy in the dumper...and the real estate boom bust

What is going to happen to all of these homes that the developers bought?
I have been watching rentals on a certain section of the country and the rent has dropped about $750-1000 on these rentals each month.
Prime real estate is being rented for low prices.
I have to say that I am a bit leary about renting a place...I don't want to pay my rent and have the thing foreclosed on...because you KNOW some of these people are going to try to milk every cent and then take the money and run.
How does one protect themselves from this?

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nadinbrzezinski

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Fri Sep-07-07 09:38 PM
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1. Well one local development is going on the auction block

and I suspect more will do the same

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Hydra

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Fri Sep-07-07 09:41 PM
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2. Squatters

with 2 million families out of a home, more than one person will be doing it

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The_Casual_Observer

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Fri Sep-07-07 10:02 PM
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3. 20,000 more do-nothing simps from Nationwide won't be eating out

Edited on Fri Sep-07-07 10:05 PM by The_Casual_Observer

at Macaroni Grill with their families anymore either.
I'll bet that pretty soon there will be a lot of nostalgia for the good old days of a manufacturing based economy.

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Manifestor_of_Light

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Fri Sep-07-07 10:24 PM
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4. "remember, Katie Scarlett, that land is the only thing that lasts...."

But real estate crashes are a bitch.

(What Papa O'Hara didn't say).

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fed-up

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Fri Sep-07-07 10:32 PM
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5. make sure yoiu are paying rent to legal owner and get a RECEIPT!

I remember during the last market crash/or was it the over building boom/bust? there were many empty homes somewhere in the Sacramento, CA area.

"Fake landlords" put ads in papers, arranged for prospective tenants to view the home, collected first, last, cleaning deposits etc and then took off to parts unknown...

There were also many stories of "unauthorized tenants"......

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