 There is great news landlords and real-estate investors: because of the current fallout in the housing market, substantial increases in foreclosure rates, and an overall tightening of lending guidelines, millions of Americans are choosing to rent instead of trying to obtain a mortgage. You may be surprised to know that vacancy rates of rental properties are at all time lows. Whatsmore, asking rental rates are at a near all time highs and with increases in demand for apartments and rental houses, it may be just the perfect time for some rental property investments. "Rental housing is simply more attractive than for-sale housing for a lot of people at the moment. If they're waiting for a really great deal to come along before buying, they may be figuring that it's best to just rent in the mean time," says Cathy Williams, director of the National Housing Division. And the numbers confirm William's statement, as the median asking rents were $1,052 for rental units completed during the third quarter of 2007, breaking the previous high of $1,025. This strongly suggests a general overall improvement in the rental market. Regional markets, including the Northeast, the West, and the Midwest have the highest median asking rents, with the reported median asking rents in all three places at more than $1,150. While these rent prices are quite normal in places like the West and the Northeast, it is the first time rents levels have reached these heights in the Midwest. And, not surprisingly, asking rent prices for existing apartments also have steadily improved and are either at or near all-time record highs, thereby suggesting that the rental market is strong and a great time to capitalize on the mortgage mess. As it is getting hard to get new loans due to stringent lending standards based on looming default and foreclosure forecasts, there is another way for home owners to buy homes with lease purchases. There are number of websites offering lease purchase agreements that require no new loans. Check out ButterflyLister.com, a highly reputable website of seasoned real-estate investors. (Posted by: K. Skowronski) Sources and More Information Landlords Loving It, Renters Rueing It, Realty Times Apartment Vacancy Rate Continues to Decline, Real Estate Journal Quarterly Update: Rents Up, Condo Absorption Surprisingly Strong, NAHB
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