What were IAC prices in 2002?

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wendyinoc_IHB

wendyinoc_IHB

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Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?
 
[quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>


Becuase you and many others moved from a place were you paid $1200 to a place where you are now paying $2300.



When the $2300 annoys you enough that you'll move back to the place that was $1200 and probably is now $1300 or so, prices will fall.
 
[quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed
 
[quote author="frank69m" date=1229339274][quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed</blockquote>
But if people keep losing their jobs, they go back to living with their parents or find a room for rent. If the ranks of the unemployed increase, the rental rate will drop.
 
From 2001-2003 my roommate and I rented a 2 bedroom/2 bath/1 carport from IAC for $1375 a month. It was in Tustin Ranch, however. It seemed expensive at the time.
 
[quote author="frank69m" date=1229339274][quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed</blockquote>


You would think, but to rent from IAC you have to have good credit to qualify, if someone hasn't paid their mortgage for a few months they may have a hard time qualifying which means that those People are taken out of the rental Pool...
 
[quote author="PeterUK" date=1229355257][quote author="frank69m" date=1229339274][quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed</blockquote>


You would think, but to rent from IAC you have to have good credit to qualify, if someone hasn't paid their mortgage for a few months they may have a hard time qualifying which means that those People are taken out of the rental Pool...</blockquote>






Does IAC really count credit? Obviously, they do credit checks, but from my perspective, it shouldn't make a difference as much because if you don't pay the rent, kick them out.
 
[quote author="frank69m" date=1229373840][quote author="PeterUK" date=1229355257][quote author="frank69m" date=1229339274][quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed</blockquote>


You would think, but to rent from IAC you have to have good credit to qualify, if someone hasn't paid their mortgage for a few months they may have a hard time qualifying which means that those People are taken out of the rental Pool...</blockquote>






Does IAC really count credit? Obviously, they do credit checks, but from my perspective, it shouldn't make a difference as much because if you don't pay the rent, kick them out.</blockquote>


This is California. Kicking out a tenet who wants to put up a fight can be a slow and expensive process.
 
Just try and not pay the IAC. Its not California.

Its Irvine. You will be gone QUICK.

TIC is not in the habit of having any trouble with the court system locally.

Except maybe Maki Maki.
 
When I rented, they also checked income. It had to be some X times the monthly rent. As incomes fall, they might have trouble finding people that qualify.
 
[quote author="usctrojanman29" date=1229343214][quote author="frank69m" date=1229339274][quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>




Uh, perhaps Irvine is newer and a more expensive area and has nicer ameneties? Also if house prices keep falling and people are being foreclosed on, where do they live? They rent....so more rentals are needed</blockquote>
But if people keep losing their jobs, they go back to living with their parents or find a room for rent. If the ranks of the unemployed increase, the rental rate will drop.</blockquote>


Or rent a house and share it.
 
[quote author="wendyinoc" date=1229327827]Should rent be dropping and by how much? Why is it not keeping with the falling house prices? In 02 I lived in Anaheim Hills in a nice complex for about $1200 and now in IAC I pay $2300 for a two bedroom. Help me understand why they are not falling?</blockquote>


Because rent didn't go up as the home price did.
 
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