Quote:
Originally Posted by Realtor 1
They will purchase something else and rent out their own place.
In most/many cases, the monthly rent covers all costs.
The ability to purchase a 2nd property is much more common than you may think.
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Rent to whom? Rental vacancies are already on the way up. Only gonna get worse.
And a person that lost their job, can't afford to sell their house for a loss (means little equity to lose from) is going to rent the place out (little equity=negative cash-flow) and then is going to get a mortgage from a bank to get a second place?With no job?
And some of those private insurers are scrutinizing buyers more too so getting anywhere without a job would be a short trip.