Mortgage Blog

I got an email from my property manager that
one tenant will be moving out mid-March because
they are in the escrow of purchasing a property.
And in the email, he also said that it seems like
that the rental market is cooling down as well,
there was one property on the market for about 1
month, and still did not get a tenant yet.
It was so different from the past a few years.

Personally I think that those who short saled the
property or foreclosed the properties are able
to purchase now. And they also saved some money
for the down payment while renting. One of my
tenants told me that the rent is actually cheaper
than purchase, and they will not have to worry
about the fixes, property taxes, etc.

But the trend seems like changing, and some people
still like to have their own property.