The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: portage who wrote (164)	8/7/2001 2:24:30 PM
From: SpongeBrain	of 306849

CHUMP = Anyone who bought into the SF rental property bubble >He rented a one bedroom apt. in SF for $1,900 in January. Said that someone just rented an identical unit above him, with a better view, for $1,400 Finally, San Fran rents crashing. I feel terribly for people who bought into the commercial rental property bubble during the height of the fake dotcom economy. And I'm sure landlords were selling the property saying "Well, if you buy, you could really rent this place for $2200, but I take $1900 since its from a safe longterm tenant" 1900->1400 = over 25% drop in annual rent roll, ie: would have lost entire downpayment in 6 months, if you bought rental property valued at inflated rents. Probably wouldnt be able to make the mortgage anymore either. What's worse, a slow monthly bleed? or to bend over and sell at huge loss? 25% loss + 6% realtor fee...Actually, most overleveraged buffoons cant even afford to sell at that kind of loss. Hmm, never even mind the spike in energy costs since the NAZ meltdown...DOUBLE WHAMMY...

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