Wednesday, January 30, 2008

LOWER RENT

Home Sellers' Pain Is Renters' Gain

by Nick Timiraos
Thursday, January 17, 2008
provided by

There's one bright side to the housing crisis: some lower rents.

The regions hardest hit by the housing downturn have seen ailing builders, rising foreclosure rates and a glut of unsold homes, amid other signs of distress. But there are also stories like Laura Evans's.

The 38-year-old elementary-school teacher moved to Stuart, Fla., from Orlando with her husband and baby last fall. Looking for a rental apartment, they were pleasantly surprised: There were plenty of choices at lower-than-expected prices, thanks to the multitude of owners trying to rent units they couldn't sell.

"When we got down here, we shopped and shopped around," says Ms. Evans, who rented a new 2,200-square-foot, three-bedroom townhouse with a pool and a playground for $1,150 per month. The owners allowed the couple to move in with their dog, despite a prohibition against pets.

More from The Wall Street Journal Online:

Lenders Rethink Home-Equity Loans

Some Home Fix-Up Tasks Are Worth Skipping

High Design for Low-Income Housing

To be sure, rents have continued to rise steadily in many markets. And the housing downturn means that more people are looking for rentals as well, increasing demand. Many would-be buyers have become renters because they can't get a mortgage in today's tight credit environment, or because they're sitting tight in hopes that prices drop further.

But in the regions hit hardest by the subprime crisis, finding a rental apartment is easier and, in some cases, cheaper than it was before the crunch. Some homeowners forced out by foreclosure are finding rental deals that are at "discounts of 50% to 70% off what they were paying on their mortgages," says Brenda F. Gerdes, who owns Management Specialists Inc. in Port St. Lucie, Fla.

Vacancies have risen in 29 markets in the fourth quarter of 2007, including Las Vegas, Palm Beach, Memphis, Orange County, Calif., and Orlando, according to Reis Inc., a New York real-estate research firm. Ron Witten, a Dallas-based housing analyst, estimates there are 760,000 vacant condos and homes for sale nationwide beyond what the market could normally carry, in addition to a surplus of 350,000 vacant rental properties.

Behind the trend are tens of thousands of unsold condominium units that are being dumped on markets such as South Florida, Las Vegas and Phoenix. While thousands of single-family homes also are coming on the market, renters prefer condos to houses, which typically have more expensive upkeep. "Tenants have to pick up more of the bills," says Artur Ciesielski, a Phoenix real-estate agent.

Pulled From Market

More than 4,200 units have been pulled out of the for-sale condo market and put into the rental pool in Florida's Palm Beach County alone, according to Mary Grace Breeding, president of McCabe Research & Consulting in Deerfield Beach. Those units include the 216-unit Aventine at Boynton Beach and the 450-unit Mizner Court at Broken Sound in Boca Raton, where rents range from $975 to $2,000.

renters_market.gif

Nor are so-called condo reversions limited to the Sunbelt. In Brooklyn, N.Y., two luxury condo developments converted to rental apartments last spring, including 99 Gold Street, which had begun accepting sales contracts less than a year earlier. Rentals at the 88-unit building range from $2,000 a month for 700-square-foot studios to $5,500 for two-bedroom penthouses.

Even healthy markets are beginning to feel downward pressure on rents. A disappointing employment report earlier this month and other signs of a possible recession don't bode well for landlords, since people who lose their jobs will resist paying higher rents or will move in with friends or family. Many displaced homeowners forced out by foreclosures also are doubling up, says Mark Obrinsky, chief economist at the National Multi-Housing Council.

That means that landlords are seeing what should be one of their strongest markets in years weakened by the increasing supply of unsold properties entering the rental market. "Shadow inventory is coming out and competing against us for rentals," says Richard Campo, chief executive of Camden Property Trust, a Houston-based real-estate company that owns 70,000 apartments. That is weakening landlords' pricing power, he says, because homeowners are less concerned about getting full market value.

Teresa Opara tried to sell her three-bedroom home in northeast Phoenix last year but got tripped up by the credit crunch. She found a buyer willing to pay her $310,000 asking price. But at the last minute, she says, the buyer's bank changed the lending requirement. "They just said they needed more down payment," says the 57-year-old accountant. Instead, she's renting the house for $1,300 a month, which is what she needs to pay her mortgage.

In five struggling markets in Florida, average rents have actually declined since the third quarter. The Tampa-St. Petersburg area saw the largest drop. Average effective rent, which includes free rent and other landlord concessions, was $784 a month at the end of the fourth quarter, down 0.6 percentage point from the previous quarter, according to Reis. In 38 other markets, including Chicago, Boston and St. Louis, rents rose during the fourth quarter, but by less than the national vacancy growth rate of 0.9%. (The rents cited by Reis are a "blended average rent" from complexes with 20 or more units in California and Arizona and 40 or more units in the rest of the country.)

Savvy renters in struggling markets are playing landlords off each other. Ms. Evans, of Stuart, Fla., says the same day she and her husband leased their apartment for $1,150 a month, the owner of a bigger home they had looked at called to lower his asking price from $1,500 to $1,200. "If he had called earlier, we would have taken it," she says.

Trading Up

Christine Provencio, a 23-year-old legal secretary in Phoenix, considered buying a home with her fiance but instead decided to trade a $580-per-month one-bedroom for a $740-a-month two-bedroom in the same four-unit Phoenix home she has lived in for two years.

pretty_vacant.jpg

The news isn't gloomy for landlords everywhere. Rents are rising strongly and vacancies are falling in many markets, particularly those with healthy economies that haven't been affected severely by the carnage in the housing industry. Vacancy rates fell in 47 of the 79 markets tracked by Reis, and average rents saw their largest fourth-quarter increase since 2000.

In San Francisco, rents grew 2.7% in the fourth quarter to $1,761 a month. New York City, which has the highest average rent in the country -- $2,717 a month -- saw a 2% rise.

Vacant units fell by 0.9 percentage point to 5.3% in Tacoma, Wash., the biggest drop in the country. In addition, higher rates and fewer financing options for jumbo mortgages -- those bigger than $417,000 -- have kept vacancy rates high in major cities like New York and Los Angeles, where home buyers typically need jumbo loans.

Slow Correction

Housing experts predict that many would-be home buyers may be forced to rent for years because the relationship between rents and home prices are out of whack. Rents remained at around 5% of home prices throughout much of the postwar period, but beginning in 1996, home-price growth rapidly outpaced rent growth. By the end of 2006, home prices had more than doubled while average rent was up just 48%, driving down the annual rent/price ratio to 3.48%.

A study by one former and two current Federal Reserve economists suggests that home prices will have to fall by 15% over the next five years while rents increase by 4% a year to return that rent/price ratio to normal.

Write to Nick Timiraos at nick.timiraos@wsj.com

Salt Lake Real Estate Blog: Real Estate Videos

Salt Lake Real Estate Blog: Real Estate Videos

SECTION 8 HOUSING ISSUES

SECTION 8 HOUSING ISSUES



WE AT http://www.superhomerentals.com/ STARTED OUR OWN SOCIAL NETWORK ON SECTION 8 HOUSING ISSUES PLEASE FEEL FREE TO JOIN AND WE WOULD LOVE TO HEAR FROM YOU !
WE ARE AT http://www.section8issues.ning.com/

SECTION 8 HOUSING ISSUES ANSWERED

YOU CAN ALSO EMAIL US AT SUPERHOMERENTALS@GMAIL.COM THANKS


SECTION 8 HOUSING ISSUES ANSWERED SECTION 8 HOUSING ISSUES ANSWERED created this social network on Ning.

Wednesday, January 23, 2008

DID WWW.RENTVINE.COM GO DOWN ?

TODAY I TYPED IN THERE NAME TO READ THEIR BLOG AND IT SAYS INVALD REQUEST BAD HOST IS HE CHANGING HOST - WELL DAVE HOPE YOU GET UP AND RUNNING MISS THE BLOG -I HAVE BEEN HAVING SOME PROBLEMS ON MY WEBSITE TOO WITH BRANDWITDH AND ALL LOOK TO SEE YOU ON LINE SOON !
TIME IS 4:00 PM HERE IN JACKSONVILLE

Thursday, January 17, 2008


Rentals.com NEW BIMONTHLY MAGAZINE

Below is from www.rentvine.com and www.rentbits.com blogs I wanted to post this it is late and I have been up for two days - i will get back to this blogging and more about the new magazine that i hear is in the works from www.rentals.com
I just wanted to post this like I said as I have been real sick I have a cold and it's has been raining here all day and that's not helping so I am off to bed -will follow up on this asap - ON THE RUN ALLAN

Rentals.com Loses Traffic From NARPM

If you look on the home page of the NARPM site you will see that the image link on the top right has been changed from Rentals.com to RentalHomePros.com.

So I wonder if NARPM is losing money because Rentals.com is not paying them for that home page link now?

I can only assume that RentalHomePros does not have to pay for that link. Will we see an increase in NARPM dues?

Josh said in January 15th, 2008 at 3:04 pm

Wouldnt this be considered a breach of contract since they signed up for the sponsorship which included a logo on the NARPM homepage? My guess is Primedia has more lawyers than NARPM, should be interesting.

Dave Dugdale said in January 15th, 2008 at 3:10 pm

Josh,

Any idea how much time was left on the Rentals.com contract with NARPM?

Robbie said in January 16th, 2008 at 7:15 pm

They still are listed as academy partner for the “The Property Management Academy”

http://www.tpmacademy.com/

Anonymous said in January 16th, 2008 at 8:56 pm

Rentals.com is “The Property Management Academy” partner through July.

superhomerentals.com said in January 17th, 2008 at 5:56 am

The thing is Rentals.com DOES NOT need the NARPM link . They don’t need it trust me - unlike my website most property managers know of rentals.com they don’t know about me at all . But they do know of Rentals.com! I don’t care who you are the market is this property managers (real estate agents ) , real estate investors , the small guy with a rental or two , after that the next line is the RENTER PERIOD - DAN OVER AT RENTMARKETER WROTE A BLOG ONCE THAT LISTED I THINK IT WAS 5 THINGS THAT CAN KILL A REAL ESTATE WEBSITE LISTING COMPANY ( SOME THING LIKE THAT NOT SURE WHAT THE TITLE WAS ) ONE OF HIS POINTS WAS NOT HAVING LISTINGS -AT THE END OF THE DAY IT IS ALL ABOUT TWO THINGS LISTING HAVING THEM AND TRAFFIC SO IF RENTALS.COM CAN CREATE TRAFFIC
( which the traffic will BE renter’s looking for places to rent ) RENTALS.COM WILL BE ABLE TO GET THE LISTINGS -CASE IN POINT MY WEBSITE SMALL UNHEARED OF WHY LIST WITH ME - THE THING I NEED IS LISTINGS AS I CAN GET TRAFFIC TO VIEW THE HOMES IF I HAD LISTINGS AS I GET ON A BAD DAY 40 EMAILS LOOKING FOR HOMES - PERIOD ! THERE IS NOT A DAY THAT GOES BY THAT I DONT GET 40 EMAILS OF PEOPLE LOOKING FOR RENTAL HOMES SO WHAT DO I DO –I SEND THEM IF THEY ARE LOOKING IN JACKSONVILLE TO ROBBIE’S WEBSITE OR IF THEY ARE SOME WERE IN THE UNITED STATES TO RENTVINE - SIMPLE I TRY MY BEST TO HELP THEM HOPING ONE DAY THEY WILL BE BACK AND THAT I WILL HAVE LISTINGS THEN AS THEY ARE RENTERS SO THEY HAVE TO COME BACK SOME WERE TO LOOK AT HOMES WHEN THEIR LEASE IS UP RIGHT ? UNLESS THE NEXT GO AROUND THEY BUY A HOME - AND I HOPE WHEN THEY DO LOOK TO RENT I HAVE SOME LISTINGS FOR THEM TO VIEW - AS FOR RENTALS.COM THEY WILL CREATE TRAFFIC FROM OTHER SOURCES THE FREE MAGAZINE (I WROTE ABOUT THIS IN DAN’S BLOG ) WERE DO YOU THINK THE PROPERTY MANAGER’s WILL LIST AT THE END OF THE DAY - THE PLACE WERE THE MOST PEOPLE WILL COME TO VIEW LISTING’S AT - TRUST ME THIS IS GOING TO BE A WAR AND RENTALS.COM WILL WIN IT -
40 EMAILS A DAY X 7 DAYS A WEEK = 280
280 X 4 WEEKS (MONTH )= 1,120
1,120 X 12 MONTHS = 13,440 EMAILS A YEAR JUST FOR RENTALS — AND THE MOST RENTALS I HAVE EVER HAD LISTED WAS 55 AT ONE TIME NOW THATS JUST THE EMAILS SO HOW MANY PEOPLE VIEW ME AND DONT EMAIL ME ?

FROM RENTBITS.COM

Is Rentals.com cutting back its marketing spend with NARPM? Rentals.com has consistently advertised full page ads in the Residential Resource, NARPMs monthly magazine. The January 2008 Issue does not have Rentals.com or RentalHouses.com in any of the pages.

Where did they go?


  1. 5 Responses to “Rentals.com Not in NARPM Magazine”

  2. Perhaps they are not happy with NARPM because of RentalHomePros.com?

    By Dave Dugdale on Dec 27, 2007

  3. they are spending those dollars else were -wait and see as they are working on their own new bimonthly publication

    By superhomerentals.com on Dec 31, 2007

  4. SuperHomeRentals, are you saying they are going to compete with NARPM?

    By Dan on Dec 31, 2007

  5. NARPM is loosing market presence as property managers are looking at other trade organizations to assist them in obtaining knowledge, education, as well as networking opportunities.

    After several years of growing pains, NARPM boards’ decisions to raise dues; make poor choices in convention locations; re-design their website to where it is no longer user friendly; change association management company; and not expanding and updating their educational offerings have allowed organizations such as FARPM with their own convention in SUNNY FLORIDA, their own professional designations and educational offerings to attract many property managers to their fold.

    By Gibson on Jan 8, 2008

  6. sorry it has taken me so long to post this as i have been trying to find the email i got from one of my friends over there that told me that his thought’s where they were going to start their own bimonthly magazine which will be given out free my understanding is they want one just for the home rental market and have been toying with the idea in order to do that the funding has to come from some were they own DistribuTech is the largest distributor of free publications in the United States with over 60,000 locations in 41 states, comprised of 72 markets. They maintain exclusive community rack programs with some of the nation’s largest retail chains, including grocery, drug, convenience, video, fitness and other mass merchandise locations. Delivering 39 million publications annually on behalf of PRIMEDIA’s Consumer Source division, DistribuTech also leases pocket space to the more than 2,000 other free publications it distributes.
    Apartment Guide is an integrated media business, delivering rental information to consumers via print, Internet and mobile devices. Apartment Guide consists of 77 publications in 74 cities and ApartmentGuide.com, which is available throughout all U.S. markets
    Rentals.com is a comprehensive Real Estate rental site with one of the largest collections of single-unit and vacation rental information on the Internet. The site encompasses nearly 45,000 complete listings, including its own as well as select inventory from ApartmentGuide.com. Its network of sites also delivers listings not only to Rentals.com, but RentalHouses.com and a variety of third party sites.
    New Home Guide, NewHomeGuide.com and NewHomeDirectory.com are a blended media business. Anchored by New Home Guide, Their Home division consists of 35 publications in 19 states, Washington D.C. and Sao Paulo Brazil (25 major markets). These directories provide accurate information about all new home communities in their respective areas, as well as give display advertising opportunities for clients to showcase product and inventory. The guides are published monthly and provided free of charge to home buyers.
    SO CAN ANY ONE TELL ME OF A MAGAZINE MONTHLY OR BI MONTHLY THAT IS GIVEN OUT FOR FREE WITH HOME RENTAL’S IN IT ONLY - IT IS ALMOST LIKE A MAGAZINE CALLED AUTO TRADER BUT WITH HOME RENTALS
    my feeling on rentalhomepros.com is that it is never going to take off its going to be a big joke -yes DAN i feel they are going to compete against NARPM and i think it will be a great thing as a monthly magazine will increase awareness to other websites like mine and rentvine and firstcoastrentads with the increase of people losing there homes and looking for rentals they look for home rentals not apartments -why renting an apartment truth be told makes them feel like they went backwards in life - its that simple -this magazine is geared to the home renter looking for a place what better idea is there why spend money with ads for memeber of NARPM they know that rentalhouses.com is out there so go after a new market if you have a free magazine you are giving out and can sell ADS OR LISTINGS on it and use it as a tool to get NARPM members to pay you go for it ! they been pay for ads too long ! NARPM SHOULD HAVE NEVER WENT IN TO THIS MARKET PERIOD
    WWW.SUPERHOMERENTALS.COM

    By superhomerentals.com on Jan 14, 2008

Sunday, January 13, 2008

RentBits Blog - Rental Tips and Industy News » Blog Archive » Apartments For Rent vs Homes For Rent

RentBits Blog - Rental Tips and Industy News » Blog Archive » Apartments For Rent vs Homes For Rent

Real Estate Blog - Largest Rent To Own Marketplace in the Country - iRentToOwn.com Launched!

AS SOME OF MY READER'S ASK ME A LOT ABOUT RENT TO OWN THIS IS A GREAT SITE MY FRIEND OVER AT ACTIVE RAIN JOHN JUST STARTED THIS
SO PLEASE TAKE A LOOK AT IT HOPE IT HELPS
Real Estate Blog - Largest Rent To Own Marketplace in the Country - iRentToOwn.com Launched! SO CHECK IT OUT AT : WWW.IRENTTOOWN.COM

Section 8 rent rates vs. increased landlord costs

Real Estate Blog - Section 8 rent rates vs. increased landlord costs

Is It Better to Buy or Rent? - New York Times

the NEW YORK TIMES have this cool chart to see if it is better to buy or rent check it out !
Is It Better to Buy or Rent? - New York Times

APRILS -BLOG FROM CLARKSVILLE TN

APRIL IS A SINGLE MOM THAT BLOGS SHE IS ALSO SELLING ITEMS ON EBAY
SPOTS ON HER BLOG -I HAVE READ SOME OF HER BLOGS AND TWO OF THEM ARE GREAT
ONE IS ABOUT BEING BBW AND THE OTHER ONE IS ABOUT HER LIFE AS A SINGLE MOM
SHE IS HOMESCHOOLING HER TWO KIDS AND ALSO RUNS AN AT HOME BUSINESS AND A PERSONAL'S WEBSITE -THE REASON I AM POSTING HER BLOG IS BECAUSE I GET A LOT OF SINGLE MOMS WHO READ MY BLOG AND SOME OF HER POST ARE IMPORTANT
TAKE THE ONE ON SINGLE MOM'S AND THEIR BOYFRIEND'S
I CAN SHARE A LOT HERE AS I HAVE A VERY CLOSE FRIEND WHO'S BOYFRIEND KILLED HER CHILD -IT WAS THE FIRST CASE IN JACKSONVILLE , FLA THAT USED THE AMBER ALERT
SO HERE IS HER BLOG I HOPE YOU ENJOY SOME OF HER INSITE
My Life as a Mother and Single Parent

Saturday, January 12, 2008

why good REAL ESTATE VIDEO IS RARE

TRANSPARENT REAL ESTATE (www.TransparentRE.com)

SUPER HOME RENTALS TO USE www.1HostGuy.com for Web Hosting

I own several websites close to 40 with www.alyha.zlio.com though ZLIO a few I have bought on Ebay -and a few domains I have bought on Ebay . What people did not tell me was some times most of them come with hosting services were you have to host with the company you bought the website from or the domain from some times it is very cheap hosting and some times it is very costly and I dont mean the cost per month I mean the service -you cant get them on the phone or to answer an email unless you miss a payment ! I went through three hosting companies last year -the first one would have my website on line 14 to 18 days a month for close to $25.00 a month for my website www.superstarboards.com then the other website had my website on for a total of less then 10 days per month and charged me $30.00 dollars a month for both websites www.delectablebaskets.com and www.flourishingblooms.com -so I got sick of it and started looking around as I was using a guy here in the states for www.superhomerentals.com then he moved my website hosting to India ! Yes, India so how in the hell could I do anything or email me so two days in Nov I had to get up and stay up till 3:00 am to be able to chat with him on yahoo as he even moved over there ! For close to 6 months www.superhomerentals.com was hosted out of India --till now I got on line and looked at all the companies out there and then I got on Ebay -looked and then I thought well I guess I will go to www.godaddy.com . Till I saw an ad on Ebay for a small company called www.1hostguy.com that was looking for customers to grow with and one who wanted to help your company grow! so I sent them a few emails and you know what with in less then a hour each email came back answered first from Karyn and then I sent another email and she wrote back again ! Then I wrote another email asking some more things about there company and services and it came back answered again by Jake !
NOT DAYS WITH IN THE HOUR OR LESS!
So I went to the website it was very nice looked like a dream come true !
Very easily laid out and very professional and on top of the page LIVE HELP
What is this some one there
WHAT ?!
So I clicked on that-- you can chat with sales , support ,or billing just like that -LIVE - and best of all they are in the United States ! They work out of Ga and Fl .
So I clicked on the live help and got Jake and with in less then 30 minutes he transfered my website !!!!!! I was so worried I would lose some of my lsitings I lost nothing at all -this company is going places their service in unreal ! I SPEND A LOT OF TIME TALKING ABOUT COMPANIES NOT HELPING THE CUSTOMER AND DOING THE RIGHT THING --YOU GETTING YOUR MONEY'S WORTH MY GOD I HAVE GOTTEN MORE THEN THAT IN ONE DAY ! PEACE OF MIND THAT MY WEBSITE IS HOSTED WITH ONE OF THE BEST COMPANIES ON THE WORLD WIDE WEB !!!!!!! AGENT'S IF YOU ARE LOOKING TO MAKE YOUR OWN WEBSITE AND LOOKING FOR HOSTING THIS IS THE COMPANY FOR YOU ! CHECK THEM OUT NOW ! PERIOD DONT WAIT DONT DELAY ! NOW ! -
ON THE RUN ALLAN

1HostGuy Web Hosting - cPanel, and Reseller Website Hosting

Friday, January 11, 2008

repost:THE LARGEST HOUSING SUBSIDY NOT SECTION 8

Why It’s Time to Take the Red Pen to the Home Mortgage Interest Deduction

“Under current law, there are no time limits. Those on [S]ection 8 can remain on [S]ection 8 for as long as they qualify. Is that fair to taxpayers? No. . . . I don’t think the taxpayers ought to be required to pay for this subsidized housing forever in some cases.”[1]

Ah, government subsidies. The oft-maligned payments, shouldered by upstanding, hardworking taxpayers, to cover the cost of housing for millionaires who need help paying the mortgage. Yes, you thought I was going to say “poor people who don’t work and expect a government handout.” I’ll give you a break, because over the years political posturing has led the word “subsidy” to become indelibly linked to that image.

However, the largest government housing subsidy is not a program serving the poor. Nope, it is a program open to people with million dollar mortgages and to people with luxury boats doubling as “second homes.” The federal tax code provides subsidies of $130 billion to homeowners through the home mortgage interest deduction (MID), lack of taxation of imputed rental income, and deductions for property taxes. The home mortgage interest deduction is so ingrained in U.S. tax policy that it is viewed as politically untouchable. In fact, the MID is one of the few deductions taxpayers are allowed to hold on to when calculating their liability under the Alternative Minimum Tax. Every year, homeowners are able to deduct the interest they pay on up to $1.1 million of indebtedness on up to two qualifying residences. This deduction is predicted to result in $89 billion of forgone tax revenue in fiscal year 2008. In 2006, the lost revenue was approximately $72.1 billion.

In contrast, Section 8 rental assistance, which helps low-income people by subsidizing their rent payments over thirty percent of their income, received just $15.846 billion in funding for FY 2007. Yet, unlike Section 8 rental assistance, the MID is neither seen as a subsidy nor in any danger of facing time limitations for how long a homeowner may claim it. There is no requirement that a taxpayer work in order to claim the deduction.

Yet the only difference between these two subsidies is the mechanism used to funnel the money to the recipients. Rather than going through an application process and sitting on a wait list for up to seven years, homeowners simply fill in the box on their returns, lowering their tax liability and instantly making their housing more affordable. Section 8 voucher recipients, on the other hand, have the government pay the money out to the landlord instead. Regardless of your views on appropriate levels of taxation, from a government expenditure standpoint these programs have the exact same effect – the government has less revenue because it has chosen to help these groups of people with their housing costs.

Now, many people have pointed out the wasteful nature of the MID before. Many people have also pointed out that it seems to be a political impossibility to reduce or eliminate the MID. But I think if people really thought about the policy behind it, they would see how unjustifiable an expense it really is. The federal government has a dismal history of racial discrimination in the housing field. It was a government agency, the Home Owners’ Loan Corporation, that created the concept of “redlining” neighborhoods based on their racial composition and refusing to back mortgages in predominantly black neighborhoods. It was another government agency, the Federal Housing Administration, that continued to advocate the use of racially restrictive covenants until two years after the Supreme Court declared them unconstitutional in Shelley v. Kraemer. Today there is a 28.6% gap between white homeownership rates and black homeownership rates, and a 25.2% gap between white homeownership and Hispanic homeownership.

So it’s not surprising that black renters are overly represented among the renter group as a whole. While 12.1% of the U.S. population as a whole is black, 29% of renters are black, the largest renter group after whites, who come in at 53% (but are underrepresented compared to their 69.1% share of the total U.S. population). Renting is a good solution for a lot of people in transition or who have other personal reasons for not wanting to own a home, but for many people it is simply the only option, and not an affordable one at that. Housing is considered affordable if it costs 30% or less of a household’s income, and 47% of renters were paying more than that as of 2006.

The point of all this is that the government has been helping households with their housing costs for over sixty years, through the introduction of the government-backed 30-year mortgage to the MID subsidy today. Because of its practices making it easier for white households than for black households to obtain mortgages, it is no surprise that black households have ended up disproportionately as renters.

It really is hard to come up with a reason why a person (in most housing markets in the nation, anyway) needs help paying the interest on a mortgage vastly higher than then national median home price (currently approximately $223,800). I’m not saying the MID should be taken away overnight. I’m just saying that when I see studies like the one conducted by the Congressional Budget Office in 2005 showing that cutting the MID ceiling to $500,000 of debt from $1.1 million would raise $48 billion over ten years, I think that additional $4.8 billion per year could increase Section 8 voucher funding by approximately 30% per year, providing a lot more help to people waiting for Section 8 vouchers and waiting for the federal government to finally atone for its discriminatory past.

I AM REPOSTING THIS AS I THINK THIS IS A GREAT BLOG I ENJOYED THE THOUGHT ON THIS AND NEVER LOOKED AT HOUSING IN THIS WAY -

section8clothing.com RUDE

THE AD SAYS: FOR THE REAL ESTATE INVESTORS
WITH SHIRTS LIKE :
THE LAST TIME I CHECKED MY NAME WAS NOT GOVERMENT SUBISDY
OR WHY KILL TENANTS WITH KINDNESS WHEN YOU CAN KILL THEM WITH AN AXE OR
COURT FEE'S $50 ATTORNEY $200 THE LOOK ON MY TENANTS FACE WHEN THEY BECOME HOMELESS PRICELESS
I WANT TO KNOW WHO BUYS THESE SHIRTS MOST PEOPLE ON SECTION 8 ARE SINGLE MOM'S I CAN GO IN TO THIS FOR DAYS AND HEAR WELL SHE SHOULD NOT HAD THE KIDS -ECT... ECT.. OR SHE NEEDS TO GET A JOB THE FACT IS SECTION 8 HELPS THESE PEOPLE OUT -I THINK THESE SHIRTS ARE RUDE I DONT THINK THEY FOLLOW THE FAIR HOUSING ACT IF A LANDLORD IS WEARING ONE - I KNOW THERE IS NOT A RULE FOR BEING POOR SINGLE AND A MOTHER ON THERE BUT IF YOU GO LOOK AT THE SHIRTS AND READ THEM I AM FOR ONE VERY SAD THAT THIS GUY COULD NOT COME UP WITH A BETTER IDEA THEN THIS

Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).

I DONT SEE INVESTORS SAYING THIS SHIRT IS A SOUND INVESTMENT

section8clothing.com

Thursday, January 10, 2008

Foreclosing Florida // Current in JACKSONVILLE FL

Foreclosing Florida // Current

Countrywide says foreclosures highest on record | Reuters

Countrywide says foreclosures highest on record Reuters

YouTube - Foreclosures at 37 year high

YouTube - Foreclosures at 37 year high

Super Tampa = Super Bowl 2009

Super Tampa = Super Bowl 2009

NEWS @ www.SuperHomeRENTALS.com

Well, we started out as a super bowl home rental company renting homes for the super bowl in Jacksonville ,Fl . Then after the game we went to just doing home rentals then in June of 2007 we add homes for sale - in Nov/Dec 2007 we added section 8 homes for rent - so after much debate we have added event rentals back on http://www.superhomerentals.com/ as other company's seem to be using our name in there ad's and I have asked them to stop they seem not to want to as they place higher on search engines using the name super home rentals so I thought we should go back to that . The superbowl is fixing to be here and then gone and as the next spot for it is in Tampa ,Fl I thought we should get a head start on it and go for it as we have a year before it is here again in Fl so we have the name out there from before and I thought maybe it would help in the ranks /search engines so I thought let's use it instead of them -so wish us luck -on the run -allan

Thugs Destroy Westside Home up for Sale - CBS47.com Jacksonville News Leader

Thugs Destroy Westside Home up for Sale - CBS47.com Jacksonville News Leader

RealEstateInvestor

RealEstateInvestor

area renters may gain little from property tax amendment -- OrlandoSentinel.com

Orlando-area renters may gain little from property tax amendment -- OrlandoSentinel.com

Funded by Google- RENTMARKETER

RENTMARKETER'S DAN DAUGHTERY AND LISA RAY IN ENTREPRENEUR.COM
Funded by Google

Thursday, January 3, 2008

NEW YEAR'S PREDICTIONS AND OTHER ISSUES

I have been putting off my predictions so I guess I better add them before next year huh .
Well let's get to it !
1. 1sourcerents.com and homerentalads.com will not show up in the top ten at all rentdigs.com will gain ground I also think house.info will lose a lot of ground -I also feel websites with smaller names will gain more ground and place higher on search engines I know that sounds stupid but i have my reason's behind that.
2. My friend over at rentvine will gain a lot of ground in the east look for him to spend more time after the south fla market -Tampa , Jacksonville, Panama City Fl, -with the issues of Panama City building the new airport that area is all ready hot ! Look for that being the new Stockton Ca /Tampa Fl area for a while with the St.Joe Company building homes there and in Jacksonville and the port activity there at Jax Port heating up is is a direct shot straight line folks -St. Joe owns land there and in Jax they are Fla largest land owners .
3. Look for other area's gaining ground like midwest - look at states like LA, AK ,MI, gaining customers looking for rentals as they look for jobs as they are moving from Ca - look for CO to still be hot and become one of the a highest rental area's in the nation -places like AZ will also get more renters -I feel a lot of people leaving CA and the west as they lose homes - by losing their home they have to look for a place to live they can afford -or more in with ageing parents in sunny FL or AZ once they get their foot on the ground they will be looking for rentals -
4. As for rentalhomepros.com look for member's not to want to use them -Why: well you members know your market not them -also look how some people have felt about the MLS system and flat fee's -why should rentalshomepros be the one to make a new MLS for the rental market -most people I deal with are small investers , mom and pops why do they care about all they offer why would you join -what do you really get for the money spent -is it worth it -ad that to the cost of their agent websites , marketing and everything else just more steps and more money - slow start that I feel may never happen the way they planned !
5. look for prices to come down in the rental marketing listing services , look for more rentals out there higher priced .
6. look for more eco friendly agents new idea's -look for more rebaterenters.com out there
7.look for more virtual tours for rentals apartments and homes look for some of the bigger boys using you tube and offering sites that do that
8.look for a real estate show rental site to move to the top ten -WHY : well as gas prices increase more people will use the internet to view homes and view the show for homes may not be on tv may be a you tube show highlighting rentals
9. look for craiglist to start charging -- for rental listing !!!!!!!!!!!! trust me on this in the next few years they will look at ny they charge -ebay owns 22 % of craigslist -- go on there and just try and figure out how many rentals they have on there in all the towns -they lose a lot of money trust me ebay wants that money some how
10. LOOK FOR www.SUPERHOMERENTALS.COM to be a big player in 2008 ! were you use your mouse to view the house ~! i hope everyone has a great new year 2008 is going to be great ! - on the run allan !