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Is there some sort of nationwide housing shortage now or did it just follow us from out west to Pennsylvania?...All I'm hearing about is rentals at least are hard to find around here. Perfect timing as usual as we're losing our current house to foreclosure...
Is there some sort of nationwide housing shortage now or did it just follow us from out west to Pennsylvania?...All I'm hearing about is rentals at least are hard to find around here. Perfect timing as usual as we're losing our current house to foreclosure...
Rentals have so much demand, that prospective tenants are "bidding" on rental properties, to inhabit.
Imagine a landlord telling everyone the rent is XXXX.
Some prospective tenants say, "We'll pay XXXX + $250/mo."
Other prospects say, "We'll pay XXXX + $350/mo."
Still others say, "We'll pay XXXX + $750/mo."
All with the hopes of "winning" the right to occupy said rental.
Housing shortage just about everywhere in the USA... or maybe all over the world.
There are a quarter million new residents being added to the USA every month, most if them very low income, so there is huge demand for rentals on the low end of the price scale.
It doesn't help that our money is losing its purchasing power at a fast clip. It's too expensive to buy a house or build a house to add it to the rental pool, and that is not helping the supply of available rentals.
I just took a peek. Where I am located, there are 30 rentals available in a three county wide area, including all the available rentals in 5 towns. Only one of those is "lower" rent. Only a couple are houses and the rest are small apartments.
There are a quarter million new residents being added to the USA every month, most if them very low income, so there is huge demand for rentals on the low end of the price scale.
I just took a peek. Where I am located, there are 30 rentals available in a three county wide area, including all the available rentals in 5 towns. Only one of those is "lower" rent. Only a couple are houses and the rest are small apartments.
Where are all these new residents coming from I wonder.
Anyway,I've also seen that the low income rentals have long 'waiting lists'...
You mean you're parents never had the talk with you?
We are not talking about the birth rate.
But if you want to talk birth rate, then another 300,000 or so lives are added to population every month. Those are too young to be add to the demand for rental housing for a few years yet.
So it seems like rentals are in high demand. Maybe not all the time by desire, but by the way things are economically.
I am a renter, I enjoy it. I dont want a house and all its expenses and responsibilities.. but the world says that renters are throwing away their money and paying the landlord's mortgage.
however, the way things are economically, it looks like home owners are now having to be renters. so what good was having a house if you are just not going to be able to keep it due to the way things are going right now?
Where are all these new residents coming from I wonder.
Anyway,I've also seen that the low income rentals have long 'waiting lists'...
Low income/income restricted rentals always have long waiting lists. The new ones that are being built have an "interest list," and six months before the building opens, they start a waiting list, and when it finally opens, it's full already.
Low income/income restricted rentals always have long waiting lists. The new ones that are being built have an "interest list," and six months before the building opens, they start a waiting list, and when it finally opens, it's full already.
Precisely. I am a senior who has lived in my current home for the last 7 years, and frankly, I expected to die here, but the property's value has tripled in the last 7 years, and the owner wants to sell it before the housing bubble bursts, so I am quite unexpectedly looking for another property to lease.
There are rentals out there, but for me the hitch is that very few landlords will accept my stipend. I pay my rent in part via SS and in part via a housing stipend. In the last 2-3 weeks I have inquired about many properties, but none will accept the stipend because they know for one thing that they can get a higher rent from someone who does not rely on a stipend, and for another thing, they do not have to worry about paperwork and annual property inspections, etc., with renters who do not rely upon a stipend to pay rent.
There are some decent "tax credit" apartments that will accept a stipend, but they all have wait lists of 6-12 months. I was able to add my name to two lists for free, but the others all want an average $50 application fee and formal application even though though they may not have anything available for a year. For someone like myself on SS, that is cost prohibitive. I am not exaggerating to say I am facing a very real possibility of homelessness in the coming weeks.
Last weekend I saw a 2/1 house in my neighbourhood come onto the market. Rent was a little higher than I really could afford, but I contacted the landlord anyway in hopes that I might be able to work out something. He said the rent was non-negciable, and within 6 hours of placing the listing, he had a contract pending on the property. Houses for sale are selling within a day sight unseen for cash. And, as someone else said, buyers are outbidding one another by thousands. I know of one house where one buyer outbid everyone else by $50K.
Pretty much the entire country is in crisis right now housing-wise. I do not mind telling you I am frightened. My plan right now is to start packing up everything I can lift on my own and moving it into a storage unit. I may have to leave behind most of my furniture. If I cannot find a property to lease by the end of August, I will be homeless. I have no none to take me in. I have begun to put out feelers for a good home for my dog because he cannot live with me on the street.
It gets worse, too. By the time I must vacate this property, I will have no more than 60 days either to find another rental or to lose my stipend. It takes years to get a stipend, so if I lose it, I can expect to live on the the street (and probably die on the street) over the next several years. Some people may think this is hyperbole, but I assure you it is not.
Precisely. I am a senior who has lived in my current home for the last 7 years, and frankly, I expected to die here, but the property's value has tripled in the last 7 years, and the owner wants to sell it before the housing bubble bursts, so I am quite unexpectedly looking for another property to lease.
There are rentals out there, but for me the hitch is that very few landlords will accept my stipend. I pay my rent in part via SS and in part via a housing stipend. In the last 2-3 weeks I have inquired about many properties, but none will accept the stipend because they know for one thing that they can get a higher rent from someone who does not rely on a stipend, and for another thing, they do not have to worry about paperwork and annual property inspections, etc., with renters who do not rely upon a stipend to pay rent.
There are some decent "tax credit" apartments that will accept a stipend, but they all have wait lists of 6-12 months. I was able to add my name to two lists for free, but the others all want an average $50 application fee and formal application even though though they may not have anything available for a year. For someone like myself on SS, that is cost prohibitive. I am not exaggerating to say I am facing a very real possibility of homelessness in the coming weeks.
Last weekend I saw a 2/1 house in my neighbourhood come onto the market. Rent was a little higher than I really could afford, but I contacted the landlord anyway in hopes that I might be able to work out something. He said the rent was non-negciable, and within 6 hours of placing the listing, he had a contract pending on the property. Houses for sale are selling within a day sight unseen for cash. And, as someone else said, buyers are outbidding one another by thousands. I know of one house where one buyer outbid everyone else by $50K.
Pretty much the entire country is in crisis right now housing-wise. I do not mind telling you I am frightened. My plan right now is to start packing up everything I can lift on my own and moving it into a storage unit. I may have to leave behind most of my furniture. If I cannot find a property to lease by the end of August, I will be homeless. I have no none to take me in. I have begun to put out feelers for a good home for my dog because he cannot live with me on the street.
It gets worse, too. By the time I must vacate this property, I will have no more than 60 days either to find another rental or to lose my stipend. It takes years to get a stipend, so if I lose it, I can expect to live on the the street (and probably die on the street) over the next several years. Some people may think this is hyperbole, but I assure you it is not.
Think roommate.
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