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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (37961)	8/15/2005 1:57:14 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

Makes little sense unless most owners of rental property are long term minded investors who purchased at much lower prices and are trying to shake out the new age highly leveraged, appreciation slut RE moguls with 1% IO loans who temporarily have flooded the market<g> yeah I don't know what the deal is with rentals here. Of course the apts owned by large public companies who specialize in things like corporate relos still have high prices. But elsewhere, everyone is cutting deals. The market for rentals just fell through the floor here. Basically lots of the jobs left, and there was too much building in the 90s when 1br apts were renting for $2200 (no kidding) and there were waiting lists.