4 ms·

Time to buy the dip

• arcturus17 6y ago
  rent_price != property_price
  • Finnucane 6y ago
    No, but in a more or less normal market, they aren't completely disconnected. The rent-price ratio will not usually vary a whole lot (one of the markers of the Great Bubble was that the ratio was completely out of whack). Since units of housing are somewhat functionally the same whether you rent or buy, price changes in one part of the market will eventually catch up to the other.
• vmception 6y ago
  Its not the dip yet. Also these are rents, so you wouldn't be buying the property yet, wait till courts are even open for foreclosures and evictions as the moratoriums are still ongoing. My luxury building and a few others I checked have slashed rent 10-15%, while also offering 6-8 weeks free, which is two months. That means the real asking rate in these properties another 15% lower. Thats a total of 27% lower. You can try offering far less. I would ambitiously go for 60% lower than asking price and see what happens. Assume they're cash starved too.