Quote:
Originally Posted by SamIam
Dumb question, but if folks have to re-locate to find a new job, what's to stop them from renting their home for the amount of the monthly mortgage payment? Whatever else may be going on, I haven't yet heard of people fleeing one area of the country for another a la "Grapes of Wrath". Even in my little rural part of the nation, rents seem to be humming along quite nicely. If your home is underwater, why can't you just hang on until prices re-align themselves as they always do?  |
What stopped us from renting out our large condo with a view of Long Island Sound was
me - and that was due to too many negative experiences with tenants. We moved out of state for a new job so we would have been out-of-state landlords. Nope. Not again. Ever.
In our new location we could buy and rent out any house we could find that is available, but choices are few. Moving from a cold market to a hot one is not wise, but it's done now. Thank goodness!