wnyc.org / 93.9fm / am 820

Comments

• [1] Ben from Brooklyn December 10, 2008 - 10:51AM

  Why rent to own? Why not just rent?

  New York prices are falling, and anyone who tells you otherwise is either a real estate agent or didn't live here from 1989 to 1992.

  Things will get MUCH worse over the coming three years and in any such market, owning or setting a price now makes ZERO sense if you can avoid it.

  
  
• [2] adsf December 10, 2008 - 10:52AM

  are such renters locked in to a price?

  For potential buyers who believe the market has MUCH further to drop, that's a lousy deal.

  
  
• [3] MattyMac from Cobble Hill December 10, 2008 - 10:54AM

  Northside was probably started after many of those projects, just better funded.

  
  
• [4] MattyMac from Cobble Hill December 10, 2008 - 10:55AM

  Is the Mortgage rate locked in?

  
  
• [5] Tony from San Jose, CA December 10, 2008 - 10:56AM

  Banks are very restricted and are usually not allowed to own properties under any circumstances.

  
  
• [6] Ed from westchester December 10, 2008 - 10:57AM

  rent to own is a free option for the renter if the rent amount is consistent with the current market. if home prices are lower at the end of the period they can renegotiate a lower price. if prices are higher than when they locked in they end up buying it below the market. no brainer.

  
  
• [7] RIchard from Clinton Hill December 10, 2008 - 10:58AM

  How about rent-to-own for people like me who will never qualify for a mortgage because of moderate income and bad credit as a result of predatory credit card companies? I would be happy to do my part for the economy by entering into a sensible agreement that would help me find a home I can't be evicted from.

  
  
• [8] adsf December 10, 2008 - 10:58AM

  There is still a layer of suckers who paid double what their properties are worth. Some of those people are interested in renting to cover the mortgage. Personally I would not get involved w this kind of scheme until those people have moved on!!

  
  
• [9] adsf December 10, 2008 - 11:00AM

  (In our neighborhood there are absolute dumps for rent and rent-to-buy for over 4 and 5K. Sad but they must go...AND THE GOVERNMENT NEEDS TO BUTT OUT...for the market to do its thing with integrity!)

  
  
• [10] Janet Stites from Harlem December 10, 2008 - 11:18AM

  Please warn your listeners. While listening to the show I searched "rent to own new york city". A site called RentalAds.com came up. Under NYC it has some listings which seemed incomprehensible: 3 bedroom on 10th St., 2 baths, "cute" mud room, washer dryer, two parking spaces, $1650. Another one bedroom 2300 sq feet, Columbus Circle $1700 pre month. Suspicious, I made a call and got a firm called Next Generation Real Estate. The guy told me that for a one-time fee of $199 they would send me a list of foreclosures in my area and I could contact the owner directly to arrange a walk-thru. The price was low b/c owners just want someone to take over their payment.PLEEEZE...http://www.rentalads.com/listings/18500/18518/condo.htm

  
  
• [11] asd December 10, 2008 - 04:26PM

  Janet -- seriously, how is that bad?

  That you have to pay the 199, you mean?