On Friday I talked about the supply and demand problems with real estate and how you can find a secret treasure trove of properties to cash in on.
There’s another issue going on in the housing market, but it’s one that is not easily understood using simple economics.
Because the government has been heavily interfering with the housing markets over the last 18 months.
Inflated weekly unemployment handouts had been keeping people out of the work force collecting huge sums of money just for sitting on their butts at home. Now that the money is drying up, they still don’t want to work but will need to pay their rent and mortgages.
And then there’s the eviction moratorium giving people a false notion that they no longer need to pay rent. The moratorium has created a growing population of lazy freeloaders who feel entitled to free housing and now believe it’s a right of theirs.
They are all in for a rude awakening because the party is just about over.
The challenge that delinquent rent tenants will now be facing is that they will be removed from the property and nobody will want to rent to them. In fact, they will probably have to pay a premium because of their past poor behavior.
Many probate executors have fallen victim to delinquent tenants and now find themselves delinquent on mortgage payments for the property they inherited.
What does all of this mean for you?
We are about to see a huge flood of foreclosures that will impact the probate market.
Some of these heirs thought they would be able to become landlords, but now all they want to do is unload these properties as quickly as they can.
I believe the rental market will skyrocket and this will be a great time to get your hands on a discount property that can be found in probate.
Committed to your success,
Ernie “Getting Ready For The Flood” Vargas | The Probate Fox