Oh yeah, it’s been very warm out here. Yeah, I’ve been watching the housing market closely and I’ve seen a few pull houses off the market lately so in the next year and a half to two years we should see potentially 30% discounts. The rental prices have been out of control and unfortunately those may only come down on the heels of a crash in home prices.
The rents are absolutely ridiculous if I had a house to rent out I would either do vacation rentals or rent to traveling nurses by room too many people have gotten screwed with no rent for years because of the friggin Covid business the property owners have no rights the renters have it all which of course the thugs get all of the rights, Traveling nurses are paying 1500 a month for a furnished room here in San Diego you know a decent area and a decent room, not in the hood! My plan is to get the heck out of here in an RV after I put a couple traveling nurses in some bedrooms which will pay for all the bills this way I get to keep my house and garage and yard and everything else intact and still have the bills paid without it coming out of my pocket, yes it's too late to sell now but I wasn't ready a few months ago anyway , I haven't even started my addition I'm just now getting the permits from the city after a year, what area in San Diego are you in? I'm in Tierrasanta which is really close to Santee
Oh yeah, it’s prime time to start renting out rooms. The RV life is a good plan. I did that for awhile and had a blast. You lose all excuses to not go outside and just enjoy nature.
I’m in Santee myself so we’re basically neighbors haha
Awesome, my daughter lives in old Santee , not in one of the newer construction areas that they have been building! They actually built the hell out of Santee , it's actually sad , she tells me 52 is a nightmare getting in and out. I wish I could have invested there , several people I know bought new or newer homes there 15 / 20 years ago ,, they made bank ! Remember the school shooting there?
Do u know anyone else on the board who lives in San Diego , I know 1 person
I do remember that school shooting. That was my old high school and one of the kids who passed away was my cousins best friend.
Santee is definitely getting developed out but aside from a few issues here and there it’s kept most of its charm. I’m certainly not moving anytime soon. I know I’ve talked to a few people from SD on here but I can’t for the life of me remember who aside from you and the other person in this thread we were talking to.
Oh yeah when it starts to tumble people jump out of the market. I probably wasn’t too clear in my thoughts. I meant that we have to wait for homes to bottom out before rent prices fall.
I understood what you meant. My point is that as people let their homes go to foreclosure, they become renters and then there are more renters than ever. Thus rents go up. The bottom of the market is when investors like Blackrock swoop in and buy all the discounted homes and jack up the rents sky high. It is what happened in 2008 and what will probably happen this time, too.
Although... this time, with the ability to work remotely via Starlink, people are not tied to a location (close to a job center or at least close enough infrastructure to get good internet) like they were in 2008, so where prices collapse may be different. Usually, house prices fall most in rural areas and bedroom communities, but this time the worst of the collapse may very well be city centers and people may go live in rural areas on RV's rather than rent. We'll see...
Oh yeah, it’s been very warm out here. Yeah, I’ve been watching the housing market closely and I’ve seen a few pull houses off the market lately so in the next year and a half to two years we should see potentially 30% discounts. The rental prices have been out of control and unfortunately those may only come down on the heels of a crash in home prices.
The rents are absolutely ridiculous if I had a house to rent out I would either do vacation rentals or rent to traveling nurses by room too many people have gotten screwed with no rent for years because of the friggin Covid business the property owners have no rights the renters have it all which of course the thugs get all of the rights, Traveling nurses are paying 1500 a month for a furnished room here in San Diego you know a decent area and a decent room, not in the hood! My plan is to get the heck out of here in an RV after I put a couple traveling nurses in some bedrooms which will pay for all the bills this way I get to keep my house and garage and yard and everything else intact and still have the bills paid without it coming out of my pocket, yes it's too late to sell now but I wasn't ready a few months ago anyway , I haven't even started my addition I'm just now getting the permits from the city after a year, what area in San Diego are you in? I'm in Tierrasanta which is really close to Santee
Oh yeah, it’s prime time to start renting out rooms. The RV life is a good plan. I did that for awhile and had a blast. You lose all excuses to not go outside and just enjoy nature. I’m in Santee myself so we’re basically neighbors haha
Awesome, my daughter lives in old Santee , not in one of the newer construction areas that they have been building! They actually built the hell out of Santee , it's actually sad , she tells me 52 is a nightmare getting in and out. I wish I could have invested there , several people I know bought new or newer homes there 15 / 20 years ago ,, they made bank ! Remember the school shooting there? Do u know anyone else on the board who lives in San Diego , I know 1 person
I do remember that school shooting. That was my old high school and one of the kids who passed away was my cousins best friend. Santee is definitely getting developed out but aside from a few issues here and there it’s kept most of its charm. I’m certainly not moving anytime soon. I know I’ve talked to a few people from SD on here but I can’t for the life of me remember who aside from you and the other person in this thread we were talking to.
Rent prices actually go up in a down real estate market. A lot of people wind up abandoning their homes for assorted reasons and then become renters.
Oh yeah when it starts to tumble people jump out of the market. I probably wasn’t too clear in my thoughts. I meant that we have to wait for homes to bottom out before rent prices fall.
I understood what you meant. My point is that as people let their homes go to foreclosure, they become renters and then there are more renters than ever. Thus rents go up. The bottom of the market is when investors like Blackrock swoop in and buy all the discounted homes and jack up the rents sky high. It is what happened in 2008 and what will probably happen this time, too.
Although... this time, with the ability to work remotely via Starlink, people are not tied to a location (close to a job center or at least close enough infrastructure to get good internet) like they were in 2008, so where prices collapse may be different. Usually, house prices fall most in rural areas and bedroom communities, but this time the worst of the collapse may very well be city centers and people may go live in rural areas on RV's rather than rent. We'll see...