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Post a Comment On: Steve Sailer: iSteve

"Landlords to the rescue?"

6 Comments -

1 – 6 of 6
Anonymous Anonymous said...

For some sand state exurbs, the solution is indeed to have landlords buy up multiple houses

For example, Temecula is a pleasant enough place,

but the nearest decent jobs are an hour drive from Temecula. The one thousand homes for sale in Temecula right now won't find buyers among working age folks.

but it is quite logical for a retiree to buy 20 of the houses for $60 thousand each and rent them out to people fleeing the cold northern winters.

If you go on realtor dot come you will see that the cheapest houses are 120 thousand dollars each right now, so the houses may have to fall by 50% before they are attractive enough to buy


On the other hand, Palmdale and Lancaster also have plenty of empty homes. Palmdale and Lancaster have such high crime rates that I doubt you will be able to attract retirees as renters - at any price.

Seems to me that the only solution for Palmdale and Lancaster is to build prisons there and then have the prison guards live in the houses

My point is that as the recession wears on and crime rates go up, many of these exurbs will go the way of Palmdale and Lancaster and effectively be uninhabitable

2/13/09, 6:08 PM

Anonymous Anonymous said...

I was just talking to a guy at work, retiring this year, and he and his wife are going to Phoenix for the Valentines Day weekend to by a house. They plan to live there about 3 weeks of the year max and let friends and family stay whenever for next to nothing. The interesting part was that the house prices in Arizona are about half of those in a mill town in north central British Columbia. So we sat an dfigured it out that between the two of us, we could buy three houses each, still own our homes in Canada and never see a snowflake again. The downfall of the whole plan of course was where would you find renters to fill the empty houses and why would anyone want to be a landlord. A quick survey of listings between 100 and 150 thousand US showed at least 10,000 units for sale in the state. Housing glut seems a paltry analysis of the acutality but my oh my it is a buyers market.

2/13/09, 7:44 PM

Anonymous AllanF said...

And of course such a sensible plan will never fly because there is not an organized vested interest to lobby/pay for it's passing through Congress.

Who, whom.

2/13/09, 8:30 PM

Anonymous Anonymous said...

The federal juggernaut's most likely solution to the "problem" of too many houses will be to bring in more immigrants...

2/13/09, 9:38 PM

Anonymous Anonymous said...

"he and his wife are going to Phoenix for the Valentines Day weekend to by a house..........The interesting part was that the house prices in Arizona are about half of those in a mill town in north central British Columbia. So we sat an dfigured it out that between the two of us, we could buy three houses each, still own our homes in Canada and never see a snowflake again."

Phoenix, AZ now has the second highest kidnapping rate in the world, behind only Mexico City. Spend much time in Phoenix and "a snowflake" may not be the only thing you never see again.

D Flinchum

2/15/09, 8:40 AM

Anonymous Gorewell said...

I don't think many snowbirds would be interested in exurban McMansions. A condo in Mesa or Palm Springs I can envision though.

2/16/09, 12:25 PM

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