Wall Street Unlocks Profits From Distress With Rental Revolution

My take on the article ....

After the housing crash (which hit very hard in Atlanta) lenders were VERY reluctant to give out any more loans to ANYONE. I think the contributing factor to causing the housing crash, was lenders giving loans to unqualified applicants, who then could not afford to pay, and ended up losing their homes as a result. This was a game changer. Now, there are literally thousands upon thousands of empty foreclosed homes in the Atlanta suburbs.

So ... what to do with them? Sell them to unqualified buyers .. again? Or rent them out with a much lesser risk? :hmm:
 
Steinhauer said:
My take on the article ....

After the housing crash (which hit very hard in Atlanta) lenders were VERY reluctant to give out any more loans to ANYONE. I think the contributing factor to causing the housing crash, was lenders giving loans to unqualified applicants, who then could not afford to pay, and ended up losing their homes as a result. This was a game changer. Now, there are literally thousands upon thousands of empty foreclosed homes in the Atlanta suburbs.

So ... what to do with them? Sell them to unqualified buyers .. again? Or rent them out with a much lesser risk? :hmm:
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Nothing is better than both of them.

Wait until economy recover so more buyers will start looking to buy a house.

I think lenders and our government made stupid move to issue loan to unqualified applicants.

There are many homeowners don't want renters in their neighborhood because renters don't take a good care of house, not capable to meet HOA rule and it could affect on house value.
 
Also, it is not bad if rental property is owned by local landlord, not Wall Street landlords.

The local landlord can take care of situation so quickly since Wall Street landlords may take weeks or never (known as don't care).
 
Foxrac said:
Nothing is better than both of them.

Wait until economy recover so more buyers will start looking to buy a house.

I think lenders and our government made stupid move to issue loan to unqualified applicants.

There are many homeowners don't want renters in their neighborhood because renters don't take a good care of house, not capable to meet HOA rule and it could affect on house value.
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Don't stereotype people!! There are things that you don't want hearing people to lump the deaf together as so why are you doing the same type of thing to those that rent???

You may well not know who the renters are. I have been both (at different times) and at one point when a house my folks rented was sold and we were moving I had several express surprise because they had assumed we owned it.

As far as homeowners association rules is there anything that makes sure those that rent are given a copy of the rules? It could be because they don't know them.

I personally am very, very glad that there is NO HOMEOWNERS ASSOCIATION where I live. I am in a small town and know of only one condo project that consists of two very upscale apartment buildings. If I was looking for a house anywhere, I would want to avoid a homeowners association!
 
I am with Jane ... I absolutely cannot stand HOA's. I have a house in an older subdivision and there is no HOA. Everyone here tries to keep up their property, and unfortunately the only person who doesn't is my next door neighbor. However, there are county codes that everyone must follow, and anytime my neighbor becomes a nuisance, code enforcement is called.

With an HOA, you have problems with people taking things overboard. Goose stepping Nazis writing you a fine everytime your kid leaves a toy in your driveway and other such nonsense.
 
Jane B. said:
Don't stereotype people!! There are things that you don't want hearing people to lump the deaf together as so why are you doing the same type of thing to those that rent???

You may well not know who the renters are. I have been both (at different times) and at one point when a house my folks rented was sold and we were moving I had several express surprise because they had assumed we owned it.

As far as homeowners association rules is there anything that makes sure those that rent are given a copy of the rules? It could be because they don't know them.

I personally am very, very glad that there is NO HOMEOWNERS ASSOCIATION where I live. I am in a small town and know of only one condo project that consists of two very upscale apartment buildings. If I was looking for a house anywhere, I would want to avoid a homeowners association!
Click to expand...

Stereotype or not stereotype, it is true in some cases about renters don't take care of house, trash the neighborhood, bad children that cause trouble and other issues. Our family already became victim of neighborhood decline because of subprime mortgage and thug renters, so crime went up and property value went down, so they managed to escape by sell the houses before neighborhood turns into ghetto. It was very nice middle class neighborhood but not anymore now.

Are you say that I don't know about renters? You are mistaken because I lived in neighborhood with renters and got mixed result, and see first paragraph about my family situation. I don't welcome subprime mortgage and thug renters in our neighborhood, however I'm not concern if renters are good family, not thug family with troubled children.

I'm very skeptical of Wall Street landlords - did you read article in OP? I have issue with Wall Street landlords, not local landlords. I'm questioning about consequence and other financial crisis.

There is good and bad HOA. Our HOA president is very nice but very few neighbors are anal about our property, especially painting and carpet, so none of their business and HOA president asked them to leave us alone because we remodeled the house to make looks nicer. HOA did good job to take care of property since our government, especially city officials and LEO don't pay attention. There are other people have bad experience after their neighborhood went into junk and lose the property value.
 
Steinhauer said:
I am with Jane ... I absolutely cannot stand HOA's. I have a house in an older subdivision and there is no HOA. Everyone here tries to keep up their property, and unfortunately the only person who doesn't is my next door neighbor. However, there are county codes that everyone must follow, and anytime my neighbor becomes a nuisance, code enforcement is called.

With an HOA, you have problems with people taking things overboard. Goose stepping Nazis writing you a fine everytime your kid leaves a toy in your driveway and other such nonsense.
Click to expand...

City of Birmingham has nuisance law, but not enforced and there are many depressed houses that where homeowners/landlords don't take care. No LEO or code enforcement went check it out and issue ticket for code violation. HOA is better if you want your neighborhood to be nice and ensure that anyone can take care of their house, but there are some annoying neighbors that quibbled about renovation so we take deal with them. Most of time, we don't have issue with HOA. Just keep nice so you are good.
 
Foxrac said:
Stereotype or not stereotype, it is true in some cases about renters don't take care of house, trash the neighborhood, bad children that cause trouble and other issues. Our family already became victim of neighborhood decline because of subprime mortgage and thug renters, so crime went up and property value went down, so they managed to escape by sell the houses before neighborhood turns into ghetto. It was very nice middle class neighborhood but not anymore now.

Are you say that I don't know about renters? You are mistaken because I lived in neighborhood with renters and got mixed result, and see first paragraph about my family situation. I don't welcome subprime mortgage and thug renters in our neighborhood, however I'm not concern if renters are good family, not thug family with troubled children.

I'm very skeptical of Wall Street landlords - did you read article in OP? I have issue with Wall Street landlords, not local landlords. I'm questioning about consequence and other financial crisis.

There is good and bad HOA. Our HOA president is very nice but very few neighbors are anal about our property, especially painting and carpet, so none of their business and HOA president asked them to leave us alone because we remodeled the house to make looks nicer. HOA did good job to take care of property since our government, especially city officials and LEO don't pay attention. There are other people have bad experience after their neighborhood went into junk and lose the property value.
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What I am saying is that you probably have some neighbors that are renting but you just don't know it.

With a HOA you are at the mercy of who else happens to buy there. You can get some real nuts over the years even if the original owners are ones that work well together.
 
Jane B. said:
What I am saying is that you probably have some neighbors that are renting but you just don't know it.

With a HOA you are at the mercy of who else happens to buy there. You can get some real nuts over the years even if the original owners are ones that work well together.
Click to expand...

There are very few renters live in our neighborhood, especially owned by local landlords, not Wall Street landlords and we don't have any complaint about renters since local landlords check if anything goes well.

We don't have issue with HOA, except for very few whiny, neighbors and HOA know us very well. Most of our neighbors are original owners.

The article in this thread is about Wall Street landlords.
 
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