if the housing market takes a serious dive, is that good or bad for renters?

[nageov3t]

bad because more people are looking to rent, or good because new buyers of 2-3 family houses will need less in rent per month to cover the mortgage?

or would it just even out?

 

[nonameo]

money will be harder to get, which means more renters, which means higher demand and higher prices.

on the other hand, low priced properties means that people with good credit will be able to buy up cheap properties and increase available rentals. They might have to pay extra $$$ in interest anyways though, negating any savings from lower housing prices.

 

[AlienCraft]

The excess supply of Homes For Sale will insure a good renter's market for some time.

Homes that sit on the market, empty either go to rental or go back to the bank if the owner cannot meet that additional mortgage load monthly.

In the course of my daily job, I have noticed more than a few homes go from "For Sale" to "For Rent" lately and vice versa as well.

Either way you look at it, the Home Flipper market will be sorted out, and rentals will be more prevalent, thereby stabilizing if not reducing rents.

In Folsom, CA there is a tremendous surplus of commercial property, and they're still building, but no one is filling the retail spaces as fast as they were hoping.

There could still be a hard landing on this.

 

[dmcowen674]

Originally posted by: AlienCraft

In Folsom, CA there is a tremendous surplus of commercial property, and they're still building, but no one is filling the retail spaces as fast as they were hoping.

Banks still giving away money to developers like candy out there eh?

 

[sygyzy]

Bad housing market is bad for renters because it means more people will rent instead of buy.
Good housing market also sucks for renters like me who's leasing office says that rents go up as house prices go up (???)