For all of those who are scared about dropping values and increased foreclosures, there is one aspect of the real estate market that will soar, and that is the RENTAL MARKET. The basics of supply and demand state that when there are fewer homes available to rent, and many people will not buy, rentals are going to be a hot ticket for the next couple years. To all those investor clients that catch themselves in a short sale situation, it would not be such a bad idea to try to hold on to that property for a little longer.
I have noticed in the last three months in Los Angeles, there are a shortage of rental properties, and many times there are multiple offers. It reminds me of red hot real estate market towards buying, but now it has changed to a rental market.
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