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Alternately the rental market could be the new horizon. In our area many parents have purchased homes to house their student-children while attending A&M. If the economy begins to suffer will they continue to buy... or will they return to renting...thereby stimulating the rental market? I suppose every scenario has a bright and dark side to it. Time will tell and I am sure the scenario wil vary greatly from region to region.
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7 Comments on What will happen in our Rental Market?
Wow, I just logged in this morning to write a quick post about apartmenet locating before heading off to church. I specialize in rentals in my area because it has always been a big part of our market. It was a wonderful way to get my start in real estate. I just didn't realize how huge it was. I just recently learned that I can do just a well helping people find apartments.
As for the college thing, I am planning to do just what you mentioned and hire my son as a property manager so-to-speak. He will be going to Sam Houston State or UT Dallas in the fall. Guess I should start looking for that house soon.
Rentals have increased in our market, too. Smart investors know that the prices we are seeing right now will not last. More and more active adults are renting a home here and own in another climate. It's been a revelation.
Here's to a GREAT '08!
Be of service! The rewards will come!
www.mattcrow.com
Toni,
You are right ...it is a good way to get goin' in this business.
Matt,
We learn to make lemons into lemonade in this business.
Jim,
I think they may be on to something, but it really depends on where our overall economy is headed .
Kay,
Those Aggie parents have lots of money.. Remember the old Aggie saying " What do they call an Aggie when he graduates?" ANSWER: "BOSS"