That's not how rent works. Rent never seems to go down.

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Jun 12, 2021
9:05:26am

Shore10 Truly Addicted User

That's not how rent works. Rent never seems to go down.

I agree though that normally if there's an excess of real estate sitting idle, naturally you could get a great deal on rent. We saw that in NYC when everyone left.

I just don't see any pressure right now to lower rents in most cities where people want to live.

This message has been modified

Originally posted on Jun 12, 2021 at 9:05:26am

Message modified by Shore10 on Jun 12, 2021 at 9:08:06am

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Shore10

Bio page: Shore10
Joined: Oct 26, 2009
Last login: Apr 29, 2024
Total posts: 14,797 (138 FO)

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Messages

Author

Time

Is this the start of the Real Estate pullback?

grosven

6/12/21 7:57am

Maybe regionally? Doesn't look like a slow down in Utah County.

RSL

6/12/21 7:59am

I dunno. No one in my neighborhood can sell their house anymore. We had a few

Chefcurry

6/12/21 8:07am

I don't understand this. If they sell for outrageous prices

zerigke

6/12/21 8:48am

Might be moving to a different state or region where the relative scale

kos

6/12/21 8:52am

Probably asking way too much.

Shore10

6/12/21 8:51am

The fastest cure for high home prices is high home prices.

Corn

6/12/21 8:56am

My neighbor in Orem just sold his in 3 days for $815,000. Paid in the

O Gaucho

6/12/21 8:16am

Wow! Which area and how many sqft?

NihonCougar

6/12/21 8:50am

<< Deleted >>

O Gaucho

6/12/21 9:00am

Over the past 30 or so days I have seen a change. I think many are starting to

ordinary tri guy

6/12/21 8:01am

It’s not the selling that’s scaring people off but the replacement prospects. Gotta live some place.

Soupie

6/12/21 9:00am

Yep, ppl say can't sell if I can't buy. I spoke to someone yesterday who said..

ordinary tri guy

6/12/21 1:26pm

And in Utah, builders will only build spec b/c there's no telling how much costs will go up during the process.

Soupie

6/12/21 1:34pm

Yep. Homes are still selling but lots aren't winning to get on a bidding war.

Shore10

6/12/21 9:03am

Not if pension funds keep buying residential homes and renting them out in their

WDaddy

6/12/21 8:01am

If the price of housing goes up and the price of renting goes down

novacoug1

6/12/21 8:23am

I just raised my UT Co house rent by 25% and found out I was a sucker as other

panacablue

6/12/21 8:35am

Utah has unusual demand due to high birthrates 25-35 years ago and valleys that

novacoug1

6/12/21 8:42am

That's not how rent works. Rent never seems to go down.

Shore10

6/12/21 9:05am

I think more are hesitant to move/sell because they have no where to go

cougfanz

6/12/21 8:03am

It seems some who sold at ATH are now renting and waiting for a dip

USMCdad

6/12/21 8:16am

Lumber futures are down as well - looks like the demand is slowing some but I imagine will settle in and be moderately

molodyets

6/12/21 8:34am

Trying to time the market is hard and very few are able to do it

UVCoug

6/12/21 9:53am

I probably would have done this but my wife didn't want to move twice and

BrotherOfTheYear

6/12/21 12:40pm

Many people moved as they thought they could WFH indefinitely

novacoug1

6/12/21 8:55am

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