WHERE are the people going???

[feelingweird]

My brother and I had a discussion the other day about renting and how it is a RENTERS market right now. Not sure if this is a national phenominon or just local to my area. One of the bets I would have made 2 years ago,was that owning rental property would be the next big thing. But rental occupancy is DOWN and rental rates are stagnant.

With MILLIONS losing their homes and being forced to move, WHERE THE HELL ARE THEY GOING?? If they aren't moving into rentals, where are they living. Is it as simple as they are moving home with their parents or with relatives?

This is a big story for some enterprising journalists I think.

Robert

[Alecia]

Class A vacancies are soaring, it's the rare class B and C rentals that are leased up right now. Also, yes, a ton of people are moving back home that were already in rentals.

[Domscott66]

Combining incomes by combining family members seems to be the thing in San Diego at least. I have two friends who have combined into one rental, one family member - the same, and my son is losing his job in Jan and plans to move in with his inlaws. If I lose my job, I am moving in with my mom, 1/2 rent on unemployment is much more doable, along with 1/2 utilities, etc.

[jcs44]

Probably a dumb question, but what are the breakdowns in the classes A, B, & C again?

[Alecia]

Probably a dumb question, but what are the breakdowns in the classes A, B, & C again?

I believe they are assessed individually depending on age, size, and location. Class A apartments are typically newer constructions in a nice area with 100+ units. As they get older they fall into class B and C unless they continually remodel and attract high prices.

[Wishful]

I wish I knew too.  We have a few rentals and have had a tough time getting them rerented after vacancies and had to reduce rents substantailly and accept lower credit scores than ever.  I expected the lower credit score due to the economy but not the big drops in rent.  Geez!  In So. Cal I suspect that many folks (legal or not) left the area since a lot of jobs were construction related and that tanked but where the hell did they go?

[MrResponsibility]

Probably a dumb question, but what are the breakdowns in the classes A, B, & C again?

I believe they are assessed individually depending on age, size, and location. Class A apartments are typically newer constructions in a nice area with 100+ units. As they get older they fall into class B and C unless they continually remodel and attract high prices.

You aren't "OnHerOwn" anymore...?

[justanouveaufarmer]

I'm seeing a lot of people moving in with family.  Especially younger people.  Two of my daughters are living together to save money.  A nephew moved in with his sister and her family and they're all happy with the arrangement. 

What I'm seeing is that younger people are more flexible with their living arrangements.  They don't seem to have that drive to have their own place and they have the ability to get along fine with other people rather than having to go off and find their own space.  They "stay" somewhere and if that doesn't work out they move in with friends or other family.

What it looks like to me is that they're technically homeless but are managing to keep someone else's roof over their heads. 

I unloaded my last rental last year when I realized what was going on.  The neighbors on one side both lost their jobs and were splitting up and moving back in with their folks.  The neighbors (McMansion) on the other side had 3 families living in it. 

In a lot of cases they can't pay their rent because they've lost their jobs.  My nephew's landlord actually told him he could just pay whatever he could afford.  He'd rather have someone living there free than have it sitting empty and getting vandalized or have squatters move in.

I used to have quite a few rental houses but thank god I managed to get rid of them all before it was too late.  A lot of landlords are either having serious problems with collecting rents and vandalism, or they're about to.  When you find yourself wondering if you need to carry a gun, it's past time to get out.

[Ming]

My husband is a housing coordinator for a nonprofit.  He helps find housing for low income - helps with landlord problems or helps landlords with renter problems.

Anyway even in the inner city poor neighborhood, rentals are open.  People are definitely doubling up.  Even with landlords dropping price on rentals, people are having a hard time with utilities and food prices raising.

[Domscott66]

Not so sure about that So Cal leaving, hell as long as unemployment is thriving, I think the legals at least are collecting and staying waiting for the recovery to hit, or rather praying it will hit.

I thought about that for me, what happens when I lose my job, will I move out of state or stay here and wait for the doom. Most of my family is here but God, I so would love to get out of this darn town and move North to oregon/seattle again! i think for now, most are staying and waiting.

[Megadoom]

You got to have a job and money to rent.

[theozarker]

I was talking to a neighbor at the store yesterday.  Her husband went out to go to work the other morning and found a guy had broken into his car and was asleep in there.  (The temperature was down in the low thirties that night.)  I guess people are going wherever they can feel warm and safe for a while - even if it's the neighbor's car.


Linda

[Domscott66]

Not so sure about that one here in San Diego. Unemployment payments do pay the rent. I have one family member who rented an apartment for him, his wife and one kid on unemployment. Money is money, even if the government is supplying it when someone is out of work. He did have first, last, and the deposit on hand.

[Ming]

I know here, some people who have lost their job and will collect unemployment don't even wait around to see if they will have enough from unemployment to pay for everything.  They are doubling up as soon as they lose their jobs.  It may be because we are coming into the winter season and you can easily have a $300.00 monthly gas bill.

[Alecia]

Probably a dumb question, but what are the breakdowns in the classes A, B, & C again?

I believe they are assessed individually depending on age, size, and location. Class A apartments are typically newer constructions in a nice area with 100+ units. As they get older they fall into class B and C unless they continually remodel and attract high prices.

You aren't "OnHerOwn" anymore...?

Nope, never really was