California

Last edited Fri Feb 17, 2023, 04:42 AM - Edit history (1)

would get caught into escalating property taxes (as well as constantly increasing insurance premiums too), and thus have to rely more and more on reverse mortgages to keep up. A dangerous trend.

UPDATE: On YouTube, I heard that landlords/property owners are facing a disaster as they continue to fail in selling their properties, and then decide to rent out their properties that failed to sell, or AIRBNB their properties.

Apparently now there is a huge glut of properties w/ no tenants. Ha ha heh...they helped to end a formerly good thing by overdoing it, flooding the rental markets w/ way too many rental properties. Rents (not in all parts of the Country yet, but getting there from what I hear) are dropping.

There are some good YOUTUBE videos out there detailing this info. If I happened to remember it, I'll jot down their names so I can pass along this information. Michael B below is the one reference I grabbed, but there are tons of other YOUTUBE videos that are pretty good. The overall trend is that the rental market is flooded w/ extra properties that failed to sell (higher interest rates). And the guy is pretty interesting, not too long in his videos.

Michael Bordenaro
@MichaelBordenaro