We have noticed a drastic change in rentals in the Miami Area - I think Marie definitely hit the reasons. Now a hot rental market gives indication to a changing market, not that it will happen soon, but according to property cycle studies...it's a great sign.
Take a look at this article when you have a chance.
I think so, and for several reasons. First, buyers are being very cautious, nobody wants to pay more than they have to for a property and I think buyers are waiting to see if weâ€™ve bottomed out. Secondly, mortgage requirements have tightened up for some folks. And lastly we have some sellers that would rather but their house for rent then to lower their asking price.
I practice in an area called Pinecrest. I have never in my ten years of practice have had put a house for rent â€“ today I was asked to put two on the market for rent.