patrick.net

That turnaround in the NAHB report looks like a major V. I think the risk right now is clinging to the massive decline of 2008 2009 and expecting that to continue.

Ah, California dreaming.

Rents do not appear to be rising in Fremont. For single home rentals they actual appear to be more reasonable and plentiful.

Austinhousingbubble says

Ah, California dreaming.

Nightmare :)

I don't get this. I'm seeing actual real time examples of rents DROPPING in the central Los Angeles market I'm in.

Stuff at the higher prices levels is sitting as are smaller units in mid sized markets.

Is there a possibility that some landlords have figured out how to manipulate this data?

There seems to be a lack of quality rentals here. We just rented out a place. It only was able to get $650 in the early 90's. This month, we listed it at $850 and we are getting people that are overbidding in an attempt to get it. We never asked that anyone bid but as soon as they hear that there are multiple parties interested and that the owner will be reviewing their applications, offers of higher prices started coming in from a few people. This place was not in good condition or anything like that; just a low end unit. There seems to be lots of demand for these.

dodgerfanjohn says

I don’t get this. I’m seeing actual real time examples of rents DROPPING in the central Los Angeles market I’m in.
Stuff at the higher prices levels is sitting as are smaller units in mid sized markets.
Is there a possibility that some landlords have figured out how to manipulate this data?

rents, like real estate, are local! buy! buy! buy! what?

dodgerfanjohn says

I don’t get this. I’m seeing actual real time examples of rents DROPPING in the central Los Angeles market I’m in.

Stuff at the higher prices levels is sitting as are smaller units in mid sized markets.

Is there a possibility that some landlords have figured out how to manipulate this data?

If it helps any, Reseda/Tarzana/Encino is still dropping. One of my very good friends out here is renting 1bd for 650 and another one 2bd for 900, which is lower than what they paid several month ago. Causes local flippers to complain when they can't flip or rent out their balloon for what they paid for it.

Well Tarzana...and Im intimately familiar with the rental market there...at least in the low end SFR...that market has been toast for a few years now. It took this long to fall only because of exceedingly stubborn and horribly underwater owners. I'm honestly surprised that there hasnt been section 8 pushing into the area. Its far from most job centers and not nearly as nice as woodland hills and Sherman oaks

Friend of mine just listed a property in Tarzana, south of Blvd - in escrow in 5 days for listing price. They are relocating to Seattle and are thrilled to have gotten so many good offers so quickly.

The good houses sell quickly and the junkards stay on the market for years...the way how it should be.

I also have friends that rent apartments in downtown LA for way more money that we pay in mortgage on our house in agoura hills. Some people just love to rent and are willing to pay 2500-3000 for a 2bedroom apartment in downtown LA.

On the other hand, apartments down there are very nice, brand new, gym, pool, doorman...but we are still talking Downtown LA.

You misunderstand downtown LA.

I have the following perks:

-I do not spend $300/mo on gas and parking to commute to downtown from the SFV every morning to work. Before you counter that I should take the redline in, keep in mind that I drove for the same reason you do...I don't like hour and a half door to door trips into work each way. 45 minutes in traffic is preferable and saves 1.5 hours a day in commute time.

-I walk to work and therefore do not have to spend time each day working out or otherwise exercising.

-Theres hot girls EVERYWHERE.

While I wouldn't recommend it for a family, most of downtown is much preferable to SFV for a single person IMO.

dodgerfanjohn says

Theres hot girls EVERYWHERE.

Homeless chicks are hot? You must be into the waif-like figures.

Corn, visit the Ralphs on 9th between Flower and Hope any weekday at noon.

No, I'm not joking.

dodgerfanjohn says

visit the Ralphs on 9th between Flower and Hope any weekday at noon.

Admittedly the Ralph's wasn't there when I spent the bulk of my time in Downtown LA, and I've heard it's gotten better than it used to be. Still, when visiting my friends in their lofts in downtown LA, you have to watch out for the crackheads, especially later at night when you might be intoxicated a bit yourself.

how can rents be increasing folks. I guess you find what you're looking for. Go ahead raise your rent, you'll be seeing your tenant move soon. rent raise= 30 day notice to LL. one month of sucking air will teach em to find another scam. and no you can't show the place till I'm gone. good luck trying.

corntrollio says

dodgerfanjohn says

visit the Ralphs on 9th between Flower and Hope any weekday at noon.

Admittedly the Ralph’s wasn’t there when I spent the bulk of my time in Downtown LA, and I’ve heard it’s gotten better than it used to be. Still, when visiting my friends in their lofts in downtown LA, you have to watch out for the crackheads, especially later at night when you might be intoxicated a bit yourself.

Again a misunderstanding.

Visit Ralphs during the time I specified. Quite possibly the highest concentration of >17

dodgerfanjohn says

Well Tarzana…and Im intimately familiar with the rental market there…at least in the low end SFR…that market has been toast for a few years now. It took this long to fall only because of exceedingly stubborn and horribly underwater owners. I’m honestly surprised that there hasnt been section 8 pushing into the area. Its far from most job centers and not nearly as nice as woodland hills and Sherman oaks

It's next door to Woodland Hills, in fact WH is just half a block from us, but I'm kind of like you surprised there isn't section 8 here as well. Or at least I don't know if one exists.