I curious to know how many of those condo conversions were sold to speculators who will now have to rent them out if they can't flip them. Did the supply of rental units really dry up, or did they just switch hands?
Nationally, rental supply may be tight, but here in Bubbletopia (CA), the supply is incredibly tight in most metro areas. CA has overregulated and underbuilt in the rental market for decades, so this has screwed up what would otherwise be an ideal renter's market.
Hopefully the "repartments" trend +looming post-bubble recession will change this situation soon. For now it sucks to be a renter here (though it sucks a whole lot less than being a f@cked borrower).
I curious to know how many of those condo conversions were sold to speculators who will now have to rent them out if they can't flip them. Did the supply of rental units really dry up, or did they just switch hands?
Nationally, rental supply may be tight, but here in Bubbletopia (CA), the supply is incredibly tight in most metro areas. CA has overregulated and underbuilt in the rental market for decades, so this has screwed up what would otherwise be an ideal renter's market.
Hopefully the "repartments" trend +looming post-bubble recession will change this situation soon. For now it sucks to be a renter here (though it sucks a whole lot less than being a f@cked borrower).
Meant to say " Nationally, rental supply may be LOOSE"