Valerie- Thanks for the vote and reply.
Ted- I just presented the article and agree with you about the doom and gloom.
Dan- I'm not sure you read the article. It is explaining how it is silly to rent when the difference between the monthly outgo is so small between renting and owning your own.
I titled the post "all you 20..... I was trying to communicate with thr folks that WERE renting currently. TIME TO BUY!!!
However, I'd also differ with you on investing now. Do you really have a problem finding renters in your area? There have been job losses everywhere, but that doesn't reduce the # of people that live there- unless they moved. In my previous area of s. TX, we were approaching 9% unemployed, yet the rental market is stronger than EVER. NO BUILDER is building, and that reduces overall inventory. Many families have been foreclosed on, and that creates more folks that HAVE to rent. Banks are holding the foreclosures and WON'T rent them. That also reduces inventory. It creates the perfect storm for rentals. My occupancy is near 100%.
I'm finding the same thing in FL where I now live. Amazing demand for rentals. Same situation. Simple econ 101. When demand is high and inventory is low, price (or rent in this case) goes up.
I haven't heard of areas where the rentals are hard to rent, unless you're talking Flint, MI type areas. I would expect every investor to do his homework on the area hes' buying in before jumping in. You seem to be trying to "time" the market on when to buy. That never seems to work well. BUY BUY BUY, I'll repeat.
You're correct on good deals available in all markets, and research is needed as well as holding capital. I just disagree with the doomsayers. They are always late to the party and will be this time also, imo. If you choose to wait to buy, so be it. I would continue to suggest the opposite. BUY BUY BUY. Rich