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re: U-haul Shortages In San Francisco
Posted on 3/7/18 at 11:24 am to bobaftt1212
Posted on 3/7/18 at 11:24 am to bobaftt1212
quote:
which is heavily influenced by taxes and policy right?
Supply and demand and wealthy investors buying property just to rent it out mostly. The article even states that some wealthy tech investors might seeing that prices are now too high to rent out so they’re getting out since they can work remotely. Seems like they milked it dry and now it’s too expensive to attract lessees.
quote:
The sky-high rent and cost of living that we've come to expect from the Bay Area might have finally taken their toll on a large proportion of residents. A huge wave of people are considering more affordable cities outside the world's tech capital, and they're taking their startups and investors with them, as Kevin Roose reported for The New York Times.
People renting are leaving and the people who rent to them can’t make money so they’re leaving.
1
Posted on 3/7/18 at 11:56 am to TH03
quote:
Supply and demand and wealthy investors buying property just to rent it out mostly
I spoke with a woman last week who works in the real estate market here in Bham. She was telling me about receiving a call a few weeks ago from a company out of Nashville that is looking at buying rental properties here. Right now bham is super attractive to these investors because of the current growth of the city. Apparently they are buying up as many properties as they can, which is also creating a housing shortage for people who are in the market to buy a home. If you couple these two factors together, with high demand and short supply driving up prices, Bham could experience a housing bubble burst if growth slows down.
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