Wednesday, July 4, 2007

People in dire s**t!

Stretched homeowners eye rental option

It must be difficult for proud homeowners to become tenants in their home... tough luck, i guess. "More often than not, [buy and rent back companies] do not pay anything like market price for the properties they buy, sometimes getting the property at three-quarters or two-thirds market value. They also do not guarantee that the seller gets to remain in their property." Therefore the market crash IS HAPPENING, call it buy-and-rent-back, call it anything else... it is a crash

Posted by confused76 @ 11:42 PM (351 views)
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3 thoughts on “People in dire s**t!

  • “They buy a property at well below market rates, give the tenant six months, serve notice and then sell on at a profit,” he says

    “They are fly-by-night trying to make a quick profit, without any regard for the tenant.”

    Not like buy to letters then…

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  • Happyrenterabroad says:

    Speaks volumes about the awful state of property “market” affairs.

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  • dohousescrashinthewoods says:

    Sounds like financial pillage to me – get in while the going is tough, buy well below market value and sell on in a falling market before the gap closes.

    Wolves amongst distressed sheeple. Nasty, nasty business. How about someone giving ordinary people a decent break AND making good business out of it? No, much easier to slash and burn than stop and think.

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