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Old 05-29-2009, 10:33 AM
 
Location: California
305 posts, read 1,069,139 times
Reputation: 126
A question about when to move - if rent generally does increase in the summer, which is logical as that's a convenient time to move, is it also logical to assume that prices will come back down in September/fall?

We have an apartment now; our lease is up later in the summer and goes month to month after that, so we have security but we're starting to research other places in case we decide to move. I know it's difficult to predict with the economy going bonkers at the moment, but would other people tend to agree that rent prices will be lower in fall and it would be better to wait until then? Or will prices stay relatively the same between now and then? I'm just trying to get a general understanding of what's available in different parts of the area, what we can expect to have to pay (and what we'd get for the money), and whether it would be better just to stay where we are.
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Old 05-31-2009, 06:34 PM
 
147 posts, read 253,331 times
Reputation: 57
Quote:
Originally Posted by Ultrarunner View Post
More former homeowners are scrambling to find rental housing... some by choice.
Don't think so, most of the homes these people are scrambling from are turning into rentals. This is where the vulture mentality sinks in from the new wave of investors, who are snatching up these homes hoping to cut a profit by renting them out.

Hopefully I'll be able to move back to Colorado Springs next February.

The fast buck, dog eat dog, cut throat culture down here is unbearable for me any longer.

Measure of America: American Human Development Project
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Old 05-31-2009, 07:06 PM
 
13,132 posts, read 23,443,330 times
Reputation: 7389
Quote:
Originally Posted by Radical Raul View Post
Don't think so, most of the homes these people are scrambling from are turning into rentals. This is where the vulture mentality sinks in from the new wave of investors, who are snatching up these homes hoping to cut a profit by renting them out.

Hopefully I'll be able to move back to Colorado Springs next February.

The fast buck, dog eat dog, cut throat culture down here is unbearable for me any longer.

Measure of America: American Human Development Project
By choice I mean some can afford the mortgage they signed on the dotted line for and they have jobs that are stable with excellent wages...

In particular, I'm referring to a mid 30's couple I know... she is a Registered Nurse and he is a Physical Therapist... they decided to walk away from the home they bought in late 2007 because the home has fallen in value by more that 40% and they found a rental in the same area for less than half of their mortgage payment...

They are saving more than 2k a month by walking away...

Sorry for the confusion...
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Old 05-31-2009, 08:29 PM
 
Location: LB/OC for now...
5,112 posts, read 11,300,260 times
Reputation: 1762
Quote:
Originally Posted by Ultrarunner View Post
By choice I mean some can afford the mortgage they signed on the dotted line for and they have jobs that are stable with excellent wages...

In particular, I'm referring to a mid 30's couple I know... she is a Registered Nurse and he is a Physical Therapist... they decided to walk away from the home they bought in late 2007 because the home has fallen in value by more that 40% and they found a rental in the same area for less than half of their mortgage payment...

They are saving more than 2k a month by walking away...

Sorry for the confusion...
and by walking away they are ruining their credit and contributing to trillions of taxpayer dollars being spent on this whole mess. they made a bad decision and we're paying for it. i dont care how much you save. if you buy a car at sticker price because you dont want to bargain, dont make me pay for it.
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Old 05-31-2009, 10:27 PM
 
13,132 posts, read 23,443,330 times
Reputation: 7389
Quote:
Originally Posted by bhcompy View Post
and by walking away they are ruining their credit and contributing to trillions of taxpayer dollars being spent on this whole mess. they made a bad decision and we're paying for it. i dont care how much you save. if you buy a car at sticker price because you dont want to bargain, dont make me pay for it.
Couldn't agree more

None the less, not all the Foreclosures are people that cannot afford the home they bought... some are simply walking away...
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Old 05-31-2009, 11:23 PM
 
9 posts, read 21,056 times
Reputation: 12
Quote:
Originally Posted by allenk893 View Post
I don't understand. Just 2 weeks ago I was searching for apartments in the area and they have gone up AGAIN. LA's apartment has been low in the past 6 to 12 months. Even the Luxury apartments were in a middle-income budget. No where is affordable anymore. I'm having a WTF momemt seriously.

I know were in a recession, but isn't that why the prices were so low? Now they're all interplanetary galaxy prices! Even ghetto Van Nuys has hit the jack pot or something. Long Beach is now UNAFFORDABLE. The good close-to-the-beach parts anyway. Can you believe that? Woodland Hills is more affordable! How in the sacre bleu(excuse my french) did Woodland Hills EVER become more affordable than Long Beach?? Ok either minimum wage has gone up or they are REALLY cracking down on the illegals and taxes. This is so insane. Less than 2 weeks. From $1,110 to $1,789. Insanity!


Welcome to California.
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