Investors bought up every house they could get for a while. It did two things. It drove up home prices and helped create a housing shortage. Those homes were listed to rent after a short delay. And the rents are higher than a damned mortgage. My sons neighborhood is almost all 5 yo homes or younger. There are always 3 or 4 up for rent in a very small neighborhood. Even when rented it's vacant again shortly after. And people can't afford those rentals. Not on todays $ and cost of living. Something has to be sacrificed. I predict a trend in the near future. Extended families living in one home. Just to help offset the costs. I'm already seeing it a little bit.
Something is gonna break soon. It has to.
I saw this scenario a lot in Marietta just recently when helping my daughter find an apartment. A large complex with multiple apartment buildings. Each building has 12 units of two bedroom apartments. Several buildings are fully rented out to large extended Indian families. I asked the property manager about it at one complex. He said one of the apartments usually serve as a family dining and family room the other apartments are where the people sleep.
