How did we get in this rental shortage mess?

By
Real Estate Agent with RETIRED 200305001

I was reading a post this morning by Sally K. & David L. Hanson  " Lesson Learned" I was reading between the lines and a possible  or part answer came to me. There seems to be a Rental shortage everywhere. Is part of the problem that many renters are "short sale and foreclosure victims". Are they waiting it out til they re qualify again to be home owners? As a landlord I have been pondering how did we get here with such a demand?

When they mentioned short sale boomerang buyers this thought came to me. Your thoughts?

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Rob Shepherd -  ABR, GRI, REALTORS® for Florence Oregon Real Estate
Expert in helping those buy or sell Florence Oregon property and retire in Oregon. Call me anytime or visit my website for local listings and information on Florence Oregon.
Email: mr.listit@gmail.com 541-991-0607

Comments (4)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I believe it is a combination that people cannot get qualified for homes. Also, sellers sell home at highest price but purchase another home at highest. Many people here in Phoenix are selling their homes and rent for a couple years until prices decrease.

Jun 21, 2016 11:00 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Rob D. Shepherd , In our area, northern Indiana, we had 20% unemployment several years ago, so many homeowners lost their jobs.  Short sales were sky high which eventually made foreclosures also out of sight.  The only thing they coud afford were the rentals.  Now there are no rentals avalable here, but now there are plenty of jobs again, so everyone is waiting it out, just like you said.

Jul 09, 2016 11:10 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

We have a rental shrtage here in our area and sometimes I am able to turn those who want to rent into buyers.

Jul 15, 2016 01:03 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

We have a shortage here too, it is a combination of mostly people who dont qualify for a mortgage and some that had short sales or foreclosures. Many want to buy, but banks are too tough these days Rob D. Shepherd 

Sep 18, 2016 04:17 AM