I haven’t had a chance to keep up with all the news surrounding the subprime mortgage problems, mortgage company bankrupties, mortgage company layoffs, their affect on the economy and now renters. So I decided to just link to a couple of articles that I have saved and was planning on commenting about but thought you might want to read them for yourself.
The one aspect that I didn’t really think about was the effect all this has on renters. As an investor myself, it is a great time to buy because of the opportunity for rental income since mortgage companies are tightening up the purses. With more people are having problems qualifing for a mortgage to purchase a home, they will need to rent which in turn creates a bigger demand for rentals and will eventually hurt the average renter who is already struggling. As we all know, when there is demand, the price increases.
Below are links to articles I have read regarding the above mentioned and one, the first link, I read on MSN.com that was depressing. It looks like unfortuantely more bad new for the future. When will it stop?
The_Cost_Of_Living_Is_Driving_Us_Out
Ameriquest Is Dead - not an article but Ameriquests site
A List of Mortgage Closures, Mergers and Layoffs
