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(English) REO to Rental Program: Its Impact on the Housing Market

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4 comentarios
  1. Mario Bilotas
    Mario Bilotas Dice:

    An influx of government or corporate owned investment rentals will increase rental inventory and therefore may reduce increasing rental prices that are helping some homeowners stay afloat and preventing foreclosure. Additionally, the geographic location in a major metro area will not be as significant, however based on the success of the program, it may quickly reach local suburbs which offer less multi-unit and multi-family structures, and more stand alone single family units. Depending on the criteria of the rental qualifying process, this may quickly place government owned housing amongst established local neighborhoods. Will the government or corporate do criminal or background checks? Will this turn into a section 8 type process for qualified tenants? Pre-inspections, income based incentives or penalties? How are these being managed and kept up? Although I see how this could make sense for the “property owner” or seller, as income is better than vacancy, I worry that the rental market will reduce, and although less REO inventory would reduce overall inventory, thus stimulate pricing upward, I worry that if not done right, the only people benefiting will be the banks.

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  2. Marksky57
    Marksky57 Dice:

    Just another tax payer program where the gov’t will pick the winners and the losers. Crony capitalism at it’s best. Redistribution of wealth from the people to whom? Reduce the size of gov’t before it reduces you. This program, like most gov’t programs will have it’s blow back or unintended consequences, something you avoid by allowing the actual market place to work without intervention.

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