Will "Renting" be the New Thing?
There have been some very interesting thoughts regarding this matter, not the least of which is considering the unparalleled amount of people going through financial crisis with their homes. How will someone who faces this hardship, who ultimately has to file bankruptcy, walk away and give the deed back in-lieu, or file foreclosure – actually recover? If the file bankruptcy it is at least two years before they will be able to purchase a home. If they walk-away or file foreclosure it can be three years (and that’s from the date the bank is actually able to “sell” the property – not the filing date.) These people will not have any other option but to live with family, friends or RENT.
This is an interesting six-minute audio clip. Tell me what you think…Are we headed for a community based Property Management service? CLICK HERE FOR AUDIO FILE