Renters

Over the past year with more and more homes going into foreclosure You would assume there would be more demand on the rental market, but that isn't necessarily the case. With less demand and a lot of selection we have seen a drop in rent prices as well. In the short term you will see people from the past who qualified for prime mortgages, re-entering the rental market now, becoming renters once again. The general thought is that rents will return to normal once the economy rebounds and the uncertainty subsides. If you are renting and happen to like where you are living it may not be a bad idea to have a good lease for your interest.

Property Owners and Managers

We examine this area of California in particular and uncover what could be a silver lining soon for the construction industry especially in light of the decline in new construction. While real estate agents are also suffering, and brokerage houses are closing, the rental industry may be ready for a gradual increase as the economy slowly recovers.
The number of households looking to rent is going up every month as foreclosures take away their homes. While homes sit empty either not for rent or at rents higher than these households can afford, the demand for cheap apartments is on the rise. Worse again with the stock market crash, whatever month or year people thought the real estate market would recover, we can probably push that date another six months to a year farther out and the rental crisis looming in California is likely to loom even larger.