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What has happened in this markets is unprecedented. Massive decreases in value, nationwide. A huge quantity of of foreclosures. Rampant economic blight in neighborhoods. Families forced out of their beloved homes…
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A move from home-ownership to private rented sector tenures has freed rare call for for accommodation supplied by the private rented sector. As a consequence of racing tenant demand, landlords intending to expand portfolios and buy-to-let speculators joining the market select to buy at property auctions.
It was a simple real estate formula. The advertisements ran in the small-town newspaper for a long time just before I realized what exactly was going on. They was always similar: A house for sale with 5% down and payments of 1% from the purchase value. Perhaps the 3 bed room house for $90,000, for instance, with $4,500 down and $900 per month payments.