Vacancy Rates Creeping Up (by GKARL [PA]) Sep 20, 2022 11:37 PM|
Vacancy Rates Creeping Up (by RobertOntarioCanada [ON]) Sep 21, 2022 1:13 AM
Vacancy Rates Creeping Up (by Ray-N-Pa [PA]) Sep 21, 2022 8:10 AM
Vacancy Rates Creeping Up (by S i d [MO]) Sep 21, 2022 9:00 AM
Vacancy Rates Creeping Up (by Deanna [TX]) Sep 21, 2022 12:10 PM
Vacancy Rates Creeping Up (by Sisco [MO]) Sep 21, 2022 12:44 PM
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Vacancy Rates Creeping Up (by GKARL [PA]) Posted on: Sep 20, 2022 11:37 PM
Went to a real estate meetup this evening. Presenter gave some stats on softening real estate market using his personal experience on a flip. Had to cut his price by 35K and the place still has not sold. It's been over 60 days. Mentioned that he saw some stats on rent. Class A vacancy was about 7%, class B was around 5% and class C was about 3%. --173.255.xxx.xx
Vacancy Rates Creeping Up (by RobertOntarioCanada [ON]) Posted on: Sep 21, 2022 1:13 AM
When interest rates go up then speculators leave where the price drops to reality so more people can buy house if have a stable decent paying job so in the end vacancy rates go up. Most jurisdictions where immigrants are coming to vacancy rates are going down. If rent is lower then the vacancy goes down where the only option is to have all utilities separated out. The situation in Ukraine where slowly Russia is losing territory where now Putin wants a peace agreement where Russia has depleted military personal along with tank, warplanes, trucks where Ukraine is not going to sign any peace agreement so Putin can claim victory. For years Canadians and other allies have been training the Ukraine military where also valuable inteligence is provided. Empting out prisons is not going to provide trained dedicated military personal with minimal training is going to win here. Rental housing providers are effected by international conditions. Fortunately the price of oil has leveled off where conservation will help keep demand down along with prevent future increases. --68.69.xxx.xxx
Vacancy Rates Creeping Up (by Ray-N-Pa [PA]) Posted on: Sep 21, 2022 8:10 AM
Seeing the same trend out here. But the market is still hot. I don't believe too many people will be complaining about vacancy rates that low. But it does show that the real estate energy is starting to wain. It will still take some time for the chugging to stop --24.101.xxx.xxx
Vacancy Rates Creeping Up (by S i d [MO]) Posted on: Sep 21, 2022 9:00 AM
Thanks for sharing the info.
As usual, Class C stays mostly full, which is one reason I'm still sticking with it in spite of all the Covid nonsense. My area still mostly believes in rule of law and we were able to start evicting about 8 weeks after the initial "2 weeks to stop to spread" lockdowns.
In uncertain times (aren't they all uncertain?), people re-trench into less expensive housing. Class A tenants move to Class B hoods, B moves to C, and C mostly stays put because D and F are intolerable to many folks, even those without a lot of money. I view Class C rentals as the "floor" of acceptable housing for the types of folks I wish to deal with. The vacancy rates mentioned above seem to bear this out.
I posted a vacant duplex yesterday: 34 responses, 4 tours, one app that looks pretty good so far. Still need to check with current land lord and do the 2-minute in home inspection. 2 bed unit at $750, which is about where decent housing that's not in the hood starts. --184.4.xx.xx
Vacancy Rates Creeping Up (by Deanna [TX]) Posted on: Sep 21, 2022 12:10 PM
A lot of my people were staying put over the last couple of years. I lost a hairdresser who moved in with a boyfriend during the Covid shutdowns; I lost one set of tenants due to medical issues; I lost one to a job transfer; that kind of thing.
But I'm seeing people getting back into their habits of moving for more optional reasons--- they want a bigger place, they want a different town, they want a place where they don't have to keep up with the yard, etc.
Oddly enough, I'm also seeing an abnormally large number of people standing on street corners asking for help. In the past, in the commercial district (rather than downtown, where all the homeless/charities/services are located) you might see someone in that situation maybe once every year or two. But now, I might see two or three different sets of people in under two weeks. --137.118.xx.xxx
Vacancy Rates Creeping Up (by Sisco [MO]) Posted on: Sep 21, 2022 12:44 PM
Vacancy rates are affected by the low unemployment (slows the turnovers) as well as consumer spending slowing. It is difficult to find a good measure that truly tells the overall health of housing demand. --149.76.xxx.xxx
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