Economy
Related: About this forumDr. Housing Bubble 12/04/14
Let the serfs pay their rent: Rental income held steady from 2000 to 2007 but has now risen a whopping 240 percent since the Great Recession hit.Being a landlord is no easy task. In the long run owning a rental property can be a nice addition to your investment portfolio but there is nothing sexy about it. Many small time landlords only start to see the benefits many years into holding the property. For the most part, this is why Wall Street and large hedge funds have avoided owning single family homes in their portfolios. That of course changed in 2007 when the market went into full on implosion mode and the mantra of the day was chase yield anywhere you can find it. There is this odd notion that somehow all the great deals went to other families that timed the market perfectly. The excellent deals of 2008 to 2011 were happening at a time when the economy was in crisis mode. Some of the best deals to be had were done via auctions and you needed to have a cashiers check to play so many regular people had no access to this. 7 million foreclosures and many of these are now in the hands of investors. The homeownership rate is a clear indication of this. It should also be no surprise that weve added 7 million renting households. How big of a change have we seen? Rental income which held steady between 2000 and 2007 at roughly $200 billion per year is now up 240 percent coming in at $640 billion. Since few people actually own rentals, this is money flowing into a concentrated group.
Send those rent checks in
http://www.doctorhousingbubble.com/rental-income-up-rents-landlord-number-us-own-rentals/
Crewleader
(17,005 posts)Fewer homes are seriously underwater, according to RealtyTrac. But underwater homes are still a problem in some places.
The housing research group defines "seriously underwater" as owing more than 25 percent than the home is worth. More than 1 in 6 homeowners with mortgages were seriously underwater in the second quarter this year.
That's the lowest level of seriously underwater homes since RealtyTrac began reporting negative equity at the beginning of 2012. In the hardest-hit markets, at least 1 in 5 homes are seriously underwater.
"Many of the properties that are seriously underwater are in a deep negative equity hole that will take some time to dig out of," says Daren Blomquist, vice president at RealtyTrac.
Here, in ascending order, are the top 10 states for underwater homes
Read more: http://www.bankrate.com/finance/real-estate/top-states-for-underwater-homes-1.aspx#ixzz3L4tOhLMK
Crewleader
(17,005 posts)The effects of the housing crash are still being felt across the country. According to a ranking of the best run states, many of the bottom states saw a dramatic decline in home values between 2009 and 2013.
http://www.washingtonpost.com/blogs/govbeat/wp/2014/12/05/many-of-the-worst-run-states-in-the-country-are-states-hit-the-hardest-by-the-housing-crash/?hpid=z12