Posted 3 years ago on April 23, 2012, 10:17 p.m. EST by Pequod
This content is user submitted and not an official statement
Several longtime renters I know have made moves into the housing markets. These are people who are prudent, save their money and have been able to buy homes for between $100-150 per square foot. Homes that sold for $175-250 a square foot before the crunch.
Its also putting downward pressure on rents. A smart, organized frugal tenant can now leverage his good credit into rent abatements or very tiny rent increases. Its very difficult to raise rents on a solid credit worthy tenant when their replacement is likely to have a foreclosure or bad credit history.
There are consequehces to all activities. Propping up homeowners who are in foreclosure denies a new buyer the chance to pick up a home in his honest price range.