Do you think Rental Rates are out of control?

In our town 1 out of every 10 homes is in foreclosure. What sold last year for 500 thousand sells this year for absolute Penny's on the dollar. So I ask.. Why have the rents gone up 300 to 500 dollars?





What I am finding most troubling is rental companies are requiring a 700 credit score but will cut a break if you have a Ch7 or 11 due to a foreclosure. I have a modest credit score, not poor just good.





How does the market think we can pay these prices? We need to move due to our rental going into foreclosure which we have been in for 7 years, but I can not pay these prices, let alone no one so far will let my 3 house cats come with us.. and how do I make sure the next home I rent will not also go into foreclosure. Oh and just so you know.. you don't get your deposit back when they foreclose and file ch7..Do you think Rental Rates are out of control?
It's a free market economy. Dump the kitties.Do you think Rental Rates are out of control?
You need to understand that rental costs have NOTHING to do with the current economy. Your landlord(s) purchased their properties at a given price, with a given interest rate on the mortgages involved. The current situation with falling real estate values has NO effect on their costs. If you insist on keeping your cats, be prepared to pay for that privilege.





You need to comprehend that the financial issues currently existing do NOT mean that you will get lowered rent values.
Everyone is taking a advantage of this down fall of the market. You can ask for a fix rate when you buy another house. Just the sign of the Times.
Owners' expenses go up yearly and so they need to raise rents to allow them to continue to rent apartments.





You will have a difficult time in finding a landlord to rent to you based on your having three cats.





No way to tell if the new place you find will go into foreclosure.
Because all of those people who had to foreclose have to live somewhere... and that's in a rental. Supply and demand.
Costs for just about everything have gone up. Rental rates are on the increase not only because of supply and demand, but the rising costs of utilities, taxes %26amp; maintenance.





Yes...you can get your deposit back after foreclosure and chapt. 7. You just need a lawyer to show you how.

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